Page 211 - Introduction to Business

CHAPTER 5 Managing and Organizing Business 185

Marketing Managers. Marketing managers
are in charge of developing the firm’s marketing strat-
egy in areas like sales, promotion, market research,
and advertising. The persons in charge of the detail-
ers at Pfizer, for example, are marketing managers. It
is not unusual for marketing managers to become the
CEOs of major corporations.

Financial Managers. Financial managers are in
charge of the money side of a business, including
accounting, treasury, investments, and similar func-
tions. Financial management is at the heart of nearly
all businesses, and the top financial manager in
major corporations, the CFO, is almost always among
the corporation’s highest-paid executives.

Operations Managers. Operations managers
are in charge of the production of goods and services.
They often manage organizations’ manufacturing,
quality control, and inventory processes, among other
things. In a company like the Ford Motor Company,
operations managers get involved with supervising
the nitty-gritty of manufacturing Ford automobiles
and trucks. Operations managers play a very impor-
tant role in organizations, especially in companies like Takao Yuhara is the top financial manager/chief financial officer (CFO)
Ford with a strong product manufacturing focus. of Japan’s giant Sony Corporation. At a recent Tokyo news conference
he had the unpleasant task of announcing a quarterly decline in profits
Information Managers. With the increased for the worldwide electronics company.
importance of computers and other information
technology devices in running businesses has come
the need for managers to supervise their use and implementation. Information marketing managers Managers in
managers are in charge of computer and other information systems within charge of developing firm marketing
strategies
businesses. The top manager in this area is generally designated the chief informa-
financial managers Managers in
tion officer (CIO). CIOs are playing increasingly important roles in many major
charge of the money side of an
corporations. organization
operations managers Managers in charge
General Managers. General managers, also known as administrative man- of the production of goods and services
agers, are not associated with any specific functional area such as marketing or information managers Managers who
finance, but serve in more general managerial roles within a business. General manage computer and other information
managers, such as the general manager of a major league baseball team, coordinate systems within an organization
and supervise the roles of various more-specialized managers. CEOs of most com- general managers Managers who
coordinate and supervise more-
panies are essentially general managers. specialized managers
reality Do you personally know any woman who has become a top manager
CH ECK in a business or other organization?

Management Skills

LEARNING OBJECTIVE 8
Analyze the different types of skills that go into making effective managers.
What does it take to be a good manager? What kinds of skills are necessary? Top-
flight managers generally possess a wide range of skills, although their skills in

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