Chapter 6
The role of management
Management
o Directs a business towards its goals
o Sets and keeps the operations of the business on a
balanced course
o Keeps the organization in equilibrium with its
environment
o Necessary to reach the goals of the organization at
the highest possible level of productivity
The definition of management
Defined as the process followed by managers to
accomplish a business’s goals and objectives
Process of activities that are carried out to enable a
business to accomplish its goals by – employing human,
financial and physical resources
The different levels of management
Top management
o Small group of executives who control the
business and have the final authority and
responsibility, such as the board of directors
Middle management
The role of management
Management
o Directs a business towards its goals
o Sets and keeps the operations of the business on a
balanced course
o Keeps the organization in equilibrium with its
environment
o Necessary to reach the goals of the organization at
the highest possible level of productivity
The definition of management
Defined as the process followed by managers to
accomplish a business’s goals and objectives
Process of activities that are carried out to enable a
business to accomplish its goals by – employing human,
financial and physical resources
The different levels of management
Top management
o Small group of executives who control the
business and have the final authority and
responsibility, such as the board of directors
Middle management
