The document summarizes key concepts in management including: 1) Managers are responsible for achieving organizational objectives through efficient use of resources. Their main functions are planning, organizing, leading, and controlling. 2) There are three levels of management - top, middle, and first-line managers - requiring different skills. 3) Entrepreneurs found new business ventures while intrapreneurs create new lines of business within existing companies. 4) An effective business plan outlines the business concept, operations, marketing strategy, finances, and goals.

1. Management and Entrepreneurship

13. Exhibit 1 –3 ● Management Skills and Functions

16. Exhibit 1 –4 ● Ten Roles Managers Play

19. Exhibit 1 –5 ● Management Levels and Functional Areas

23. Exhibit 1 –6 ● Skills Needed and Functions Performed at Different Management Levels

24. Exhibit 1 –7 ● Differences between Large and Small Businesses

30. Contributions of Entrepreneurs Society Economic Growth Support of Large Businesses Job Creation Innovation

38. Exhibit 1 –9 ● Features of This Book’s Three-Pronged Approach and Table of Contents