Better Business, 5/e

Chapter 7 Summary

1. 7-1 Identify the levels of management and the skills managers need to be successful, and explain how the strategic plan, the corporate vision, and the mission statement are defined for a business.

• Management is the process of working with people and resources to accomplish the goals of an organization by performing four primary functions: planning, organizing, leading, and controlling/monitoring

• Top managers are the corporate officers who are responsible for the organization as a whole. Middle managers are the top managers of the major divisions or segments of an organization. First-line managers supervise the employees who carry out the day-to-day operations of a company.

• Successful managers need to possess a variety ...