Chapter+07

=**Chapter 7 Business Management** =

**Chapter 7 Section 1**
**Objective:** D**escribe the overall purpose of management which is to set and meet goals efficiently and effectively to make a profit.**

**Discuss:** The four funtions of management.

The **four** functions of management: (PLOC) __P__lanning, __O__rganizing, __L__eading, and __C__ontrolling.

Planning is the setting objectives and the making long and short term objectives to meeting your goals.

Organizing is the obtaining and coordinating resources so that a business's objectives can be met.

Leading is influencing, guiding, and directing people under one's management to carry out their assigned tasks.

Controlling is setting standards for work, evaluating performance, and solving problems that prevent certain tasks completion.

__**Question:**__ Can the words goal and objective be used interchangeably?

 Chapter 7 Section 2
**Objective: Identify the differences between management structures.**

**Discuss:** the six skills necessary for effective management.