Levels of management
TOP MANAGEMENT = strategic management function where long term strategic
decisions of planning are made, conceptual skills with objectives and long term
future decisions being defined (Managing Director)
MIDDLE MANAGEMENT = tactical management where medium to long term
planning takes place with human relations skills to ensure that resources are
avaliable to carry out strategic decisions (Marketing manager)
Chapter 5: General Management
LOWER MANAGEMENT = operational management decisions of short term planning of
operational decisions, technical skills and supervision of tasks performed by the
enterprise to reach its objectives (Production Foreman)
Entrepreneur Intrapreneur
-combines factors of production to start -aka inside entrepreneur
business -works within the business
-sees market opportunities -uses entrepreneur qualities with business resources
-takes risks with own capital to make profit for ideas of profit
-operate top level management -implement new profitable idea in department
Entrepreneurial qualities, characteristics and skills
-identify and pursue opportunity
-understand target market and scan external environment
-know customer (LSM) to satisfy needs
-anticipate and take advantage of market trends
-commitment and perseverance
-creative + innovative to differentiate from competitors
-prepare, implement realistic plan
-coordinate plans and resources optimally
-get “buy in” to plans& goals
-evaluate achievement to initiative corrective measures
-make quick decisions
-personally motivated, insightful to shortcomings
Manager: In a appointed position of authority to enable instructions
Makes people aware of advantages of pursuing a certain course of action,
Leader: creating the desire in people to follow them to achieve a common goal
TOP MANAGEMENT = strategic management function where long term strategic
decisions of planning are made, conceptual skills with objectives and long term
future decisions being defined (Managing Director)
MIDDLE MANAGEMENT = tactical management where medium to long term
planning takes place with human relations skills to ensure that resources are
avaliable to carry out strategic decisions (Marketing manager)
Chapter 5: General Management
LOWER MANAGEMENT = operational management decisions of short term planning of
operational decisions, technical skills and supervision of tasks performed by the
enterprise to reach its objectives (Production Foreman)
Entrepreneur Intrapreneur
-combines factors of production to start -aka inside entrepreneur
business -works within the business
-sees market opportunities -uses entrepreneur qualities with business resources
-takes risks with own capital to make profit for ideas of profit
-operate top level management -implement new profitable idea in department
Entrepreneurial qualities, characteristics and skills
-identify and pursue opportunity
-understand target market and scan external environment
-know customer (LSM) to satisfy needs
-anticipate and take advantage of market trends
-commitment and perseverance
-creative + innovative to differentiate from competitors
-prepare, implement realistic plan
-coordinate plans and resources optimally
-get “buy in” to plans& goals
-evaluate achievement to initiative corrective measures
-make quick decisions
-personally motivated, insightful to shortcomings
Manager: In a appointed position of authority to enable instructions
Makes people aware of advantages of pursuing a certain course of action,
Leader: creating the desire in people to follow them to achieve a common goal
