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Ch 1: Introduction to Business Management

About This Chapter

Use these introductory business management lessons to explore managerial roles and functions. You'll also learn about some of the problem-solving models used by managers and examine Fayol's principles of management.

Introduction to Business Management - Chapter Summary

This chapter begins with an exploration of managers' roles within an organization, including their responsibility to make decisions, manage information and maintain interpersonal relationships with everyone from vendors and customers to the employees they supervise. Additional lessons provide you with an overview of Henri Fayol's 14 management principles and introduce you to some of the tasks associated with the planning, leading, controlling and organizing functions of managers, as well as a possible fifth function, staffing.

The chapter draws to a close with a brief examination of a few problem-solving methods used by managers, from the relatively simple principle of divide and conquer to more complex strategies, like the five-step problem-solving model or the four stages of the Deming cycle. Altogether, this chapter can help you study the following topics:

  • Managerial roles
  • The four functions of management
  • Managerial problem-solving models

The entertaining video lessons included in this chapter are taught by business instructors with the expertise and experience needed to help you understand even the most complicated managerial concepts. You'll also find illustrated transcripts, links to supplementary text lessons and short multiple-choice quizzes designed to ensure you come away from the lessons with a comprehensive understanding of this chapter's business management material.

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