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