Managers and Managing

15099 Words61 Pages
CMEC01 12/8/06 8:50 Page 1

Chapter

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Managers and Managing
LEARNING OBJECTIVES
After studying this chapter, you should be able to: ✓ Describe what management is, why management is important, what managers do, and how managers utilise organisational resources efficiently and effectively to achieve organisational goals. ✓ Distinguish among planning, organising, leading and controlling (the four principal managerial functions), and explain how managers’ ability to handle each one can affect organisational performance. ✓ Differentiate among levels of management, and understand the responsibilities of managers at different levels in the organisational hierarchy. ✓ Identify the roles managers perform, the skills they need to execute
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It was Werner’s third son, Carl Friedrich, who continued in his father’s tradition of being ahead of his time in business. Carl started to rebuild the company after the First World War by concentrating and focusing the company direction based on its expertise and withdrawing from non-traditional areas of business. Carl was also responsible for various strategic alliances, mergers and acquisitions during his time at the helm. Siemens was the first company that ever posted sales figures in excess of 1 billion Marks. In the 1930s and 1940s Siemens was the largest electrical company in the world despite the Great Depression. Due to its strong family values Siemens managed to survive the devastating Second World War in which nearly 80 per cent of its assets were lost and through some decisive management and its belief in people the company turned into the largest employer in Germany in the 1960s and 1970s. Today Siemens operates in 190 countries, has nearly half a million employees and still believes that employees and innovation are its strongest assets. The success speaks for the effective management of the company, which had sales exceeding A75 billion and profits exceeding A2 billion in 2005.

CMEC01 12/8/06 8:50 Page 3

WHAT IS MANAGEMENT?

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Overview
The history of Siemens’ ups and downs through competition, political
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