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Learning Objectives Exams will consist of objective questions (multiple choice) involving knowledge and application of course concepts and short answer questions based on the chapter learning objectives ≈ The people who work in an organization are considered: A. raw materials B. machinery C. resources D. financial capital E. none of the above • (LO 1, Knowledge, easy) 4. Distinguish between three kinds of managerial skill, and explain why managers are divided into different departments to perform their tasks more efficiently and effectively. 1-2 What is Management? Managers ≈ The people responsible for supervising the use of an organization’s resources to meet its goals 1-3 What is Management? Management ≈ The planning, organizing, leading, and controlling of human and other resources to achieve organizational goals effectively and efficiently 1-4 Efficiency and Effectiveness Figure 1.1 1-5 Four Functions of Management Figure 1.2 1-6
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