1-6 Organizational Performance o Measures how efficiently and effectivel managers use resources to satisfy customers and achieve goals Efficiency: A measure of how well resources are used to achieve a goal Usually, managers must try to minimize the input of resources to attain the same goal Effectiveness: a measure of the appropriateness of he goals chosen (are these the right goals ls?), and the degree to which they are achieved e Organizations are more effective when managers choose the correct goals and then achieve them " win/MeGraw-HHill OThe McGraw-Hill Companies, Inc, 2000
Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 2000 Organizational Performance ⚫Measures how efficiently and effectively managers use resources to satisfy customers and achieve goals. ◼ Efficiency: A measure of how well resources are used to achieve a goal. ◆Usually, managers must try to minimize the input of resources to attain the same goal. ◼ Effectiveness: A measure of the appropriateness of the goals chosen (are these the right goals?), and the degree to which they are achieved. ◆Organizations are more effective when managers choose the correct goals and then achieve them. 1-6
Managerial Functions o henri fayol was the first to describe the four managerial functions when he was the ceo of a large mining company in the later 1800S o Fayol noted managers at all levels, operating in a for profit or not for profit organization, must perform each of the functions of Planning, organIzing, leading controlling " win/MeGraw-HHill OThe McGraw-Hill Companies, Inc, 2000
Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 2000 Managerial Functions ⚫Henri Fayol was the first to describe the four managerial functions when he was the CEO of a large mining company in the later 1800’s. ⚫Fayol noted managers at all levels, operating in a for profit or not for profit organization, must perform each of the functions of: Planning, organizing, leading, controlling. 1-7
1-8 Four Functions of Management Figure 1.2 lanning PI Choose goals Controlling OrganIzing Monitor measure Working together Leading Coordinate " win/MeGraw-HHill OThe McGraw-Hill Companies, Inc, 2000
Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 2000 Four Functions of Management Figure 1.2 Planning Choose Goals Organizing Working together Leading Coordinate Controlling Monitor & measure 1-8