2. *
Four Functions
WHAT IS MANAGEMENT? of Management
LG2
*
• Management -- The process used to
accomplish organizational goals through planning,
organizing, leading and controlling people and
other organizational resources.
7-2
3. *
TODAY’S MANAGERS Managers’ Roles
Are Evolving
LG1
*
• Younger and more
progressive.
- Growing numbers of women.
- Fewer from elite universities.
• Emphasis is on teams and
team building.
• Managers need to be skilled
communicators and team
players.
7-3
4. *
RESPECT and HOW to GET ITManagers’ Roles
Are Evolving
LG1
*
Source: Entrepreneur, www.entrepreneur.com, March 2009.
7-4
5. *
The WORST MANAGERS Managers’ Roles
Are Evolving
LG1
*
Name Organization What Went Wrong
James Cayne Bear Stearns Played golf and bridge
while the company
collapsed.
Richard Fuld Lehman Brothers Ignored warning signs
and rewarded greed.
Kerry Killinger Washington Mutual Bad lending standards
led to bankruptcy.
Philip Schoonover Circuit City Fired 3,400
experienced
employees for cheaper
replacements.
Source: BusinessWeek, www.businessweek.com, January 19, 2009.
7-5
6. *
FOUR FUNCTIONS of Four Functions
of Management
MANAGEMENT LG2
*
1. Planning
2. Organizing
3. Leading
4. Controlling
7-6
7. *
WE NEED MANAGERS HERE
(Reaching Beyond Our Borders)
*
• The lack of professional managers is keeping
U.S. companies from expanding rapidly in global
markets.
• Flexibility is the key to successfully expanding
abroad.
• Developing products to appeal to another market
is another way to be successful.
7-7
8. *
SHARING the VISION Planning &
Decision Making
LG3
*
• Vision -- More than a
goal, it’ s a broad
explanation of why the
organization exists and
where it’ s trying to go.
7-8
9. *
DEFINING THE MISSION Planning &
Decision Making
LG3
*
• Mission Statement -- Outlines the
organization’ s fundamental purposes. It includes:
- The organization’ s self– concept.
- Its philosophy.
- Long– term survival needs.
- Customer needs.
- Social responsibility.
- Nature of the product or service.
7-9
10. *
SETTING Planning &
Decision Making
GOALS and OBJECTIVES
LG3
*
• Goals -- The broad, long-
term accomplishments an
organization wishes to attain.
• Objectives -- Specific,
short-term statements detailing
how to achieve the
organization’ s goals.
7-10
11. *
PLANNING ANSWERS Planning &
Decision Making
FUNDAMENTAL QUESTIONS LG3
*
• What is the situation now?
SWOT Analysis -- Analyzes the organization’ s
Strengths, Weaknesses, Opportunities and Threats.
• How can we get to our goal from here?
- Strategic planning
- Tactical planning
- Operational planning
- Contingency planning
7-11
12. *
STRATEGIC and TACTICAL Planning &
Decision Making
PLANNING LG3
*
• Strategic Planning -- Done by top management
and determines the major goals of the organization
and the policies, procedures, strategies and
resources it will need to achieve them.
• Tactical Planning -- The process of developing
detailed, short-term statements about what is to be
done, who is to do it and how.
7-12
13. *
OPERATIONAL and CONTINGENCY
Planning &
Decision Making
PLANNING LG3
*
• Operational Planning -- The process of
setting work standards and schedules necessary to
implement the company’ s tactical objectives.
• Contingency Planning
-- The process of preparing
alternative courses of action
the firm can use if its primary
plans don’ t work out.
7-13
15. *Decision Making:
DECISION MAKING Finding the Best
Alternative
LG3
*
• Decision Making -- Choosing among two or
more alternatives.
7-15
16. *
RATIONAL DECISION-MAKINGDecisionthe Best
Finding
Making:
Alternative
MODEL LG3
*
1. Define the situation.
2. Describe and collect needed information.
3. Develop alternatives.
4. Develop agreement among those involved.
5. Decide which alternative is best.
6. Do what is indicated.
7. Determine whether the decision was a good one
and follow up.
7-16
17. *Decision Making:
PROBLEM SOLVING Finding the Best
Alternative
LG3
*
• Problem Solving -- The process of solving the
everyday problems that occur; less formal than
decision making and needs quicker action.
• Problem-solving techniques include
brainstorming and PMI -- Listing all the pluses for
a solution in one column, all the minuses in another
and the implications in a third.
7-17
18. *Organizing:
ORGANIZATIONAL CHARTS Creating a
Unified System
LG4
*
• Organization Chart
-- A visual device that
shows relationships
among people and
divides the
organization’ s work; it
shows who reports to
whom.
7-18
20. *Organizing:
MANAGEMENT LEVELS Creating a
Unified System
LG4
*
• Top Management -- The highest level,
consists of the president and other key company
executives who develop strategic plans.
• Middle Management -- Includes general
managers, division managers, and branch and
plant managers who are responsible for tactical
planning and controlling.
• Supervisory Management -- Those directly
responsible for supervising workers and evaluating
daily performance.
7-20
21. *Organizing:
TOP MANAGEMENT Creating a
Unified System
LG4
*
• Chief Executive Officer (CEO)
- Introduces change into an organization.
• Chief Operating Officer (COO)
- Implements CEO’ s changes.
• Chief Financial Officer (CFO)
- Obtains funds, plans budgets, collects funds, etc.
• Chief Information Officer (CIO)
- Gets the right information to the right people so
decisions can be made.
7-21
22. *Tasks and Skills
MANAGERIAL SKILLS at Different Levels
of Management
LG4
*
• Technical Skills -- The ability to perform tasks in
a specific discipline or department.
• Human Relations Skills --
Skills that involve communication
and motivation; they enable
managers to work through and with
people.
• Conceptual Skills -- Skills
that involve the ability to picture the
organization as a whole and the
relationship among its various
parts. 7-22
23. * Tasks and Skills
SKILLS NEEDED at VARIOUS at Different Levels
of Management
LEVELS of MANAGEMENT LG4
*
7-23
24. *Staffing: Getting
STAFFING and Keeping the
Right People
LG4
*
• Staffing -- Recruiting, hiring, motivating and
retaining the best people available to accomplish the
company’ s objectives.
• Recruiting good employees is critical.
• Many people are not willing to work at companies
unless they are treated well with fair pay.
7-24
25. *Leading: Providing
LEADERSHIP Continuous Vision
and Values.
LG5
*
• Leaders must:
- Communicate a vision and rally others around that
vision.
- Establish corporate values.
- Promote corporate ethics.
- Embrace change.
- Stress accountability and responsibility
7-25
26. *Leading: Providing
ACCOUNTABILITY through Continuous Vision
and Values.
TRANSPARENCY LG5
*
• Transparency -- The presentation of the
company’ s facts and figures in a way that is clear
and apparent to all stakeholders.
7-26
27. *
LEADERSHIP STYLES Leadership
Styles
• Autocratic Leadership --
LG5
*
Making managerial decisions
without consulting others.
• Participative or
Democratic Leadership --
Managers and employees work
together to make decisions.
• Free-Rein Leadership --
Managers set objectives and
employees are free to do
whatever is appropriate to
accomplish those objectives.
7-27
29. *
EMPOWERMENT Empowering
Workers
LG5
*
• Progressive leaders give employees the
authority to make decisions on their own without
consulting a manager.
• Customer needs are handled quickly.
• Manager’s role becomes less of a boss and more
of a coach.
• Enabling -- Giving workers the education and
tools they need to make decisions.
7-29
30. *
Controlling:
FIVE STEPS of CONTROLLING
Making Sure it
Works
LG6
*
7-30
Hinweis der Redaktion
See Learning Goal 1: Describe the changes occurring today in the management function.
See Learning Goal 1: Describe the changes occurring today in the management function. As the demographic make-up of this country changes the typical manager is changing. Today more managers are women and less are from elite universities. Managers today act more like facilitators than supervisors.
See Learning Goal 1: Describe the changes occurring today in the management function. Respect and How to Get It Ask students: Why do you respect or not respect a manager? (This question is certainly going to develop a discussion among students in class) This slide presents the results from a study conducted by www.entrepreneur.com. Critical questions to ask the students: In your opinion why did sound business strategy and ethical practices rank so high in the study?
See Learning Goal 1: Describe the changes occurring today in the management function. The Worst Managers This slide is a continuation from the last slide. Ask students: What makes a manager ineffective? (This question will get students talking about their personal experiences in the workforce)
See Learning Goal 2: Describe the four functions of management. Management is the process used to accomplish organizational goals through the four functions of management. The four functions of management are planning, organizing, leading and controlling.
See Learning Goal 2: Describe the four functions of management.
See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals. Creating vision for the company is not merely setting a goal but rather creating a sense of purpose for the organization.
See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals. The mission statement is the foundation for setting specific goals and objectives within the organization.
See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals.
See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals. SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats. As part of the internal analysis, the organization identifies the potential strengths that it can capitalize upon and potential weaknesses that it should improve upon. An organization, as part of an external environmental analysis, identifies the opportunities (factors that an organization can take advantage of) and threats (factors that an organization should avoid or minimize the impact of). An interesting exercise for the students – have them perform a SWOT analysis on themselves (At least the strengths and weaknesses part should be an eye opening experience for them.)
See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals.
See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals.
See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals. This slide covers the key areas of planning by business managers. Students should be reminded that planning requires preparation to be successful. More effort put into planning, will result in greater achievement. All planning should be in writing with an estimation of time and cost. Gantt charts are often used to compare planned results with actual accomplishments. Even the best prepared plans sometimes miss the unexpected problems. Managers should always be prepared to act in the event a plan fails. Poor contingency planning may result in significant problems for a company.
See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals.
See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals. Managers don’t always go through this seven step process. However, they must always make sound decisions. It is easier said than done. As an interesting exercise, you can ask the students, working in a group, to go through a simple process of identifying an automobile to purchase using these steps. Everyone’s input should be obtained in the group. They either can select a group manager or all can have an equal say/vote. Both scenarios should produce different but interesting experiences for students.
See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals.
See Learning Goal 4: Describe the organizing function of management.
See Learning Goal 4: Describe the organizing function of management. This slide shows a good visual of management levels within a corporation. Note the pyramid shape and the type of job positions that are in each level. It’s important for the student to know the necessary skill levels that each position in the pyramid requires. A Top-Level Manager needs good conceptual skills, and to be able to effectively communicate goals to the entire corporation. Middle-level managers typically develop the strategies for goal attainment and develop the tactics necessary to achieve stated goals. Middle managers require good analytical skills and the ability to communicate. First-line managers are responsible for execution of business plans. Technical skills and good communications skills are necessary.
See Learning Goal 4: Describe the organizing function of management.
See Learning Goal 4: Describe the organizing function of management.
See Learning Goal 4: Describe the organizing function of management.
See Learning Goal 4: Describe the organizing function of management. The further up the managerial ladder one moves, the less important technical job skills become.
See Learning Goal 4: Describe the organizing function of management.
See Learning Goal 5: Explain the differences between leaders and managers, and describe the various leadership styles.
See Learning Goal 5: Explain the differences between leaders and managers, and describe the various leadership styles.
See Learning Goal 5: Explain the differences between leaders and managers, and describe the various leadership styles. Research tells us which leadership style is best depends on what the goals and values of the firm are, who’s being led, and in what situations.
See Learning Goal 5: Explain the differences between leaders and managers, and describe the various leadership styles.
See Learning Goal 5: Explain the differences between leaders and managers, and describe the various leadership styles.
See Learning Goal 6: Summarize the five steps of the control function of management. This slide presents the five steps of the control function. It should be pointed out to the students that the whole control process is based on clear standards. The control function completes the management function loop that starts with planning. Accounting and Finance are often the foundations for control systems, because they provide the numbers management needs to evaluate progress.
