RSM100Y1 Chapter 7: Chapter 7 Management.docx
Document Summary
Chapter 7 management, leadership, and the internal organization. Management is the process of achieving organizational goals through people and other resources. The manager"s job is to combine human and technical resources in the best way possible to achieve the company"s goals. A firm"s management usually has three levels: top, middle, and supervisory. These levels of management form a management hierarchy. The hierarchy is the traditional structure found in most organizations. The highest level of management is top management. Top managers include such positions as chief executive officer (ceo), chief financial officer (cfo), and executive vice-president. Top managers spend most of their time developing long-range plans for their organizations. Top managers set a direction for their organization. Many top managers must steer their firms through an economic downturn, a slump in sales, or a crisis in quality. Middle management is the second level in the management hierarchy. It includes general managers, plant managers, division managers, and branch managers.
