This slide show complements NCV 4 Management Practice Hands-On Training by Bert Eksteen & Anthony Hill, published by Future Managers Pty Ltd. For more information visit our website www.futuremanagers.net

1. Management Practice 4

2. Module 4: Management functions

7. Types of managerial decisions Programmed Structured Unprogrammed Unstructured

9. Decision-making conditions Certainty Risk Uncertainty Outcome of options predictable Outcome of options unpredictable

11. Decision-making conditions and levels of uncertainty Certainty Risk Uncertainty Decision maker has complete certainty Decision maker has some certainty Decision maker has complete uncertainty Available options and the benefits or costs of each are known Outcome of each alternative is not known in advance Outcome of each alternative is unpredictable No element of change intervenes between the option and its outcome Probability can be assigned to each alternative outcome Probability cannot be assigned to each alternative outcome Decision is a sure thing Decision is a “gamble” Decision requires “guts” or based on your “gut feeling”

13. 1.1 Use the decision-making process to make a management decision Stage 1 Stage 2 Stage 3 Stage 4 Stage 5 Stage 6 Stage 7 Recognise, classify and define the problem or opportunity Set goals and criteria Generate creative alternative courses of action Evaluate alternative courses of action Select the best option Implement the chose option Conduct follow up evaluation Group decision making Quantitative tools – Cost benefit analysis

16. Management functions Organising Controlling Planning Leading Resources Human Financial Physical Information Performance Achieve goals Products Services Productivity Profit

17. Effective planning

18. Steps in the control process Standards Supervision Input resources Output results Conditions Conversion process (Activities and conditions) Output results

19. Steps in the control process

20. How decision making and management functions link Planning and decision making Managers determine the organisation’s vision, mission and goals and decide on a strategy to achieve them Leading Managers direct and motivate members of the organisation to achieve the mission and goals Organising Manager’s group activities together, establish authority, allocate resources and delegate Controlling Managers monitor progress and take corrective steps to reach the mission and goals

21. How the four functions of management differ for the three management levels

25. Different styles of leadership