Principles of Management - Managers and Entrepreneurs Masters course slide 1

1. MANAGERS AND
ENTREPRENEURS
By
Hastings Shantanga-DBAst.Msc HRM, BSC HRM
FOR Masters students

2. LESSON
OBJECTIVES
will be able to:-
Define the term "management" and explain
the importance of efficiency and effectiveness
in management.
Explain why managers are important to
organizations
Identify and summarize 5 major drivers of
change for today's managers.
Distinguish between Managerial functions
and skills
Identify the eight core management
functions.
Demonstrate an understanding of Wilson's
three managerial competencies and explain
the practical importance of his research
findings.
Explain what Managers do and their roles
Describe entrepreneurs

3. REFERENCES
Ricky W. Griffin (2017) Management 12e
Robins and Coulter(2009) Management 10e
Robert Kreitner (2007) Management 10e
Robert Kreitner(2009) Principles of
Management 12e

4. INTRODUCTI
ON
Achieve
Managers
need to do
everything
possible to
achieve the
organizationa
l mission in a
competitive
world
Improve
Need to
strive to
improve and
overcome
obstacles and
resistance to
change
Teamwork
Need for
speed,
teamwork
and
flexibility
Relationships
Need to be
close to
customers

5. MANAGEME
NT
DEFINED …
What is
Management and
why it important to
the organization?
Management
definition
Management is the process
of working with and through
others to achieve
organisational objectives in a
changing environment
(Kreitner (2007,p5)
Management is a set activities
directed at an organization's
resources, with the aim of
achieving organizational goals in
an efficient and effective
manner(Griffin (2017,p5)
Central to the
definition is
balancing efficiency
and effectiveness
The key
aspect of the
Management
process are
1. Getting the
most out of the
limited
resources,
2. Working with
and through
others,
3. Balancing
effectiveness
and efficient
4. Achieving
organizational
objectives

6. Management Key aspects of
Kreitner and Griffin definitions
Change
4. Coping with the Changing environment
–Anticipate changes and adjust/Forward
thinking
Optimizing
3. Making the most of the limited
resources- Managers are trusted with
limited resources to maximize the returns
Objectives
2. Achieving Organisational Objectives-
These act as measuring sticks for
performance
Collaboration
1. Working with and through others –
Bringing individuals together for a
collective purpose

7. 5.Balancing
Effectiveness and
efficiency
• EFFECTIVENESS refers to “Doing the right things”
 Doing work activities that will help to reach the
organisational goals e.g., Swinging a hammer in
the wall will be an effective way of killing a
trouble some fly. Car moving a (10,000km) long
distance will be effective, but very inefficient
• EFFICIENCY “Doing things right”,
 Refers to getting the most output from the least
number of inputs. Managers need to optimize the
use of resources so that not to waste company
resources (people, Money, equipment etc).In the
example above, killing a fly by a Fly swatter will
be more efficient.
Make every Ngwee count towards the org.
objectives by thinking trough decisions, and
balancing Efficient and effectiveness
Efficiency
Effective

8. SOURCES
OF
CHANGE
FOR
TODAYS
MANAGER
S
Offshoring (outsourcing of jobs from developed countries
to lower wage countries, Reddit, Samsung Electronics,
Oracle, and Huawei, Ukraine)
2. THE EVOLUTION OF PRODUCT QUALITY –Fix it
approach to quality (rework defective products identified
by inspector), inspect it in approach(inspector sample
work in process) Build it in (Everyone becomes
responsible), design it in (customer and employee
involvement) Pencils, Pens, Books, Cars….
3. ENVIRONMENTALISM –Global warming, toxic waste,
pollution, Global warming and the green movement
(KCM pollution -2015- toxic discharge from Nchanga
had poisoned water sources and destroyed farmland,
result was court case in London-2,500 Zambian villagers
are to receive an undisclosed settlement
(https://www.bbc.com/news/world-africa-55725305-
9/04/2021)
4. AN ETHICAL REAWAKENING- Managers behaviors
are always in check (Conflict of interest, theft, drugs,
sexual harassment) Enron scandal, me too movement,
Black lives matters etc.
5. INTERNET AND E-BUSINESS REVOLUTION- online
business, virtual learning (Amazon, eBay, etc)

9. CLASS
REFLECTION
•Define Management
•Explain why
efficiency and
effectiveness are
important to the
organization?
•Identify and
summarize five

10. WHO ARE
MANAGERS?
• A manager is someone who Coordinates and
oversees the work of other people in order to
accomplish the organisational goals -Robbins
and Coulter (2009,p21)
• A manager is someone whose primary
responsibility is to carry out the management
process –Griffin (2017,p6)
• Manager’s work involves coordinating and
overseeing the work activities of others so that
their activities are completed efficiently and
effectively.
Michael Watkins once said, “Most new
Managers fail because they don’t have a
plan, they are not clear about the
business situation and they assume that
what made them successful in the past is
going to work in the current job, they
Wisdom
reflection!

11. WHAT DO
MANAGERS
DO?
Managerial Functions –are general
administrative duties that need to be
carried out in virtually all productive
organizations to achieve desired outcomes.
Managerial Skills are specific observable
behaviors that effective managers exhibit
–soft skills
Functions tell us what managers
generally do while skills tell us more
precisely how they carry out those
functions.

12. EIGHT (8)
MANAGE
RIAL
FUNCTIO
NS
Managerial functions refer to the
managerial job role from a task-
based perspective, while
managerial skills have to do with
the manager's ability to execute
the functions
Planning –Formulation of future courses of action and
deciding how best to meet them
Decision Making –Choosing among alternative courses of
action
Organizing- division of labour by assigning responsibility,
determining how best to group activities and resources
Staffing –recruiting the right people with the right
qualification for the right vacancies to do the job
Communication –instruction, knowledge, rules and
general information
Motivation – satisfying needs and meeting expectations
with valued rewards (Maslow –(physiological (food and clothing), safety (job
security), love and belonging needs (friendship), esteem, and self-actualization)
Leading –serving as role models making staff adapt to
Management style. Helping staff to work in the best
interest of the organization
Controlling – compare desired results against the actual
results and make amends. Monitoring and correcting
ongoing activities to facilitate goal attainment

13. WILSON’S MANAGERIAL SKILLS
SKILL CATEGORY SKILLS DESCRIPTION
TECHNICAL
Applying your education training
and experience to effectively
organize a task or job
1.Technical Expertise
Skills you have acquired by education and experience; to understand and
communicate key technical details
2. Clarification of goals and
objectives
Your ability to organize and schedule the work of your unit so it is achieved when
expected and meets established standards
3. Problem solving
The ability to resolve issues you confront in the days work; to develop team
collaboration in facing problems
4. Imagination and creativity
you demonstrate an ability to originate ideas, to correct and develop ways to
improve productivity
TEAMBUILDING
Listening carefully and
communicating clearly to develop
and coordinate an effective group
or team
5. Listening for insights
Keeping aware of the activities of your team and units close to you,
underpinning your ability to continue being a Manager
6. Directing and coaching
Meeting your objectives and standards; keeping your teams' skills up to target
level
7. Solving problems as teams
An important role is helping your team contribute ideas to improve their
performance
8. Coordinating and cooperating
Demonstrating a willingness to work with others; your group individuals and
units close to you
DRIVE
Setting goals, maintaining
standards, and evaluating
performance to achieve effective
outcomes involving costs, output,
product quality and customer
service
9. Standards of performance
Your effort to keep your part of the organization moving, your willingness to be
busy and keep aimed toward new accomplishments
10. Control of details
Overseeing the performance of work at close level to meet performance goals
and standards
11. Energy
Demonstration to your team and colleagues a readiness and
willingness to work and that you expect their cooperation
12. Exerting Pressure
Urging others to perform, by shaping your activity to be
perceived as team work not domination

14. Managerial
ROLES-refers to
specific actions
and behaviors
expected of a
manager
• INTERPERSONAL ROLES-involve dealing people
• Figurehead- taking victors to dinner, attending official
meeting, more ceremonial and symbolic
• Leader – hiring, training and motivating employee's
productivity to inspire achievement of org. goals.
• Liaison – serving as coordinator and link among people,
groups or organizations to them keep informed
• INFORMATIONAL ROLES-Collecting, receiving and
dissemination of information
• Monitor – Seeking information of value and be more
informed
• Disseminator – Transmitting relevant information to others
in the workplace
• Spokesperson – relays information in and outside the
organization
• DECISIONAL ROLES –Making decisions and choices
• Entrepreneur - Initiates business change and lead
investment decisions
• Disturbance handler- Handling difficult staff, strikes,
problems in public relations or corporate image
• Resource allocator – Manager decides how resources are
allocated and distributed
• Negotiator – Enters with other groups or organizations as a
representative e.g. Unions and deals

15. MANAGERS LOSE THEIR RIGHT TO DO
MANY THINGS
WHEN YOU ACCEPT TO BE A MANAGER YOU MUST BE
READY TO LOSE YOUR RIGHT TO;
1. Lose your temper
2. Be one of the gangs
3. Bring your personal problems to work
4. Vent your frustrations and express your opinion at work
5. Resist change
6. Pass the buck on tough assignments
7. Get even with adversaries
8. Play favorite
9. Put your self interest first
10. Ask others to do what you wouldn’t do
11. Expect to be immediately recognized and rewarded for
doing a good job

16. HOW DO
MANAGERS
LEARN TO
MANAGE?
In the Honeywell study of 3600 Managers ,
20% of the respondents – Relationship
30% of the respondents – Formal training and education
50% of the respondents - Job assignment (School of hard
knocks)
•Making a big mistake
•Being overstretched by a difficult assignment
•Feeling threatened
•Being stuck in an impasse or dilemma
•Suffering an injustice at work
•Loosing out to someone else
•Being personally attacked
They can also learn by integrating theory and practice and observing role
models

17. SMALL BUSINESS
MANAGEMENT
WHY ARE SMALL
BUSINESS
IMPORTANT TO
THE NATION?
Small business: an
independently
owned and
managed profit
seeking enterprise
with fewer than
100 employees
MYTHS ABOUT
SMALL
BUSINESSES
80% end in failure-
Study by Kirchhoff
found 18% failure
They are low wage
jobs- study by
David Birch, 4% of
small businesses
produced 70% of job
growth.
“Success of the of the small
business sector depends on
the right mix of money,
Talent, hard work, social
connections, luck and
opportunities”.

18. ENTREPRENUERSHIP
Entrepreneurship is the process by which individuals either on
their own or inside organizations pursue opportunities without
regard to the resources they currently control –Kreitner (2009,p21)
Entrepreneurship is the process of planning, organizing, operating
and assuming the risk of a start up venture –Griffin (2017,p275)
The process of starting a new business generally In response to an
opportunity –Robbin and Coulter (2009)
An entrepreneur is someone who engages in entrepreneurship
(Griffin 2017),
 Job creation
 Drive innovation
 Contribute to the
economy
 Potential to become big
org
 Identifying niches in
established markets
 Leading to New markets

19. Difference between an entrepreneur from a
general Manager
Entrepreneur Administrator/Manager
Visionary and bears all financial risks Works for salary with no financial
risk
Emphasize external/Market dimension Internal
Reward for effort is profit earned Renumeration
High Risk Low to moderate risk
Motivation is from a need to achieve Need to lead others
Process technical knowledge and
experience in innovation area
Managerial knowledge
Focus is on starting a business Smooth functioning of the
organization

20. REFLECTIO
N!
1. Distinguish between Managerial functions and
skills and identify the eight basic Managerial
functions?
2. Demonstrate your knowledge of Wilsons three
Managerial skill categories and explain the
practical significance of his research findings?
3. Identify and discuss the managerial roles played by
Managers and how they contribute to the organization?
4. Explain how Managers learn to manage and
debate differentiate Managers and entrepreneurs?
5. Challenge two myths about small business and
describe entrepreneurs?
Can you
remember?
Excuse me?