Romnick Tubo

BSAB-4a

Introduction to Organization and Management of Small Business

Management is defined as the process of reaching organizational goals trough working harmoniously
with people and the resources the organization.

The characteristics of management includes process or continuous series of activities, concentrates on

organizational goals, and strives to achieve organizational goals by means of wisely usage of the
resources the organization has.

Important terms encountered

COST- The primary concern for consumers so it’s a must for mangers to never fail to address this to be
competitive. (If the cost of Raw materials used in creating a certain product is minimal, it also expected
that the price of the final output will be less expensive.)

INNOVATION- modernization of materials, processes, as well techniques for better and more convenient
work.

-SPEED- using innovative techniques, rendering service or movement of products will be more faster and
convineint. (Ex. ATM)

QUALITY- one of the most important things that client often seeks in a certain product or service. If the
quality of product or service is low, failure in meeting the clients desires might happen. But, if the quality
of the product or service is magnificent or beyond expectations, meeting the clients desires will be
attainable.

SERVICE- is a job requested by client in order to fulfill his or her DESIRE. Rendering Quality service will
result to a successful outcome. While poor service might result to a income loss.

4 Managerial Functions

-PLANNING

*The act visualizing the things the organization needs in achieving its goals. It involves outlining the
important things to do in order to meet the expected outcome.

-ORGANIZING

*Is the act of assigning tasks developed in the planning stages to individuals or groups in order to plans
into actions.

-INFLUENCING

*Aka Leading, Motivating, or Directing.

-CONTROLLING

*A specific job assigned to Managers. The managers needs to gather infos. that measures performance,
compares present performance to pre-established performance norms, and determine the nxt action
plan.