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Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE1 CHAPTER 7 7-1 7-1Management 7-2 7-2Leadership 7-3 7-3Ethical Management Management and Leadership
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE2 Management Learning Targets: Define the five functions of management. Describe the levels of management in businesses. Discuss when to use the two management styles. 7-1
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 7 3 ROLE AND WORK OF MANAGERS What do managers do? 1)Planning – involves analyzing information, setting goals, and making decisions about what needs to be done. 2)Organizing – identifying and arranging the work and resources needed to achieve the goals that have been set. 3)Staffing – obtain, prepare and compensate the employees of a business. 4)Implementing – direct and lead people to accomplish the planned work of the organization. 5)Controlling – determines to what extent the business is accomplishing the goals it set out to reach.
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 7 4 MANAGEMENT LEVELS Top management – executives are top-level with responsibilities for the direction and success of the entire business. Responsible for: Long-term direction Profitability and success of business Titles include Chief Executive Officer, President, Chief Operating Officer and Vice President Mid-management – specialists with responsibilities for specific parts of a company’s operations. They must coordinate their work with other managers Time is devoted to organizing, staffing and implementing functions
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Supervisors – first level of management in a business. Responsible for the work of a group of employees Plan the day-to-day work Make sure needed resources are available Spend most of their time implementing the plans of executives and mid-managers Management by others – some experienced employees are asked to serve as leaders for their work group. They may be asked to lead a project or supervise the work of a new employee. Chapter 7 5
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 7 6 MANAGEMENT STYLES Tactical management – the manager is more directive and controlling. They will make the major decisions. Strategic management – managers are less directive and involve employees in decision making. They trust employee to work without direct supervision all the time. Mixed management – the combined use of tactical and strategic.
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE7 Leadership Learning Targets Describe the need for leadership skills and the characteristics of an effective leader. Identify the human relations skills needed by managers and leaders. Recognize four types of leadership influence. 7-2
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 7 8 WHAT IS A LEADER? Need for leadership – today, managers are expected to do more than just give orders. They must involve employees and find ways to meet employee needs as well as business needs. Leadership characteristics – it takes skill to get people with different backgrounds and personalities to work well together.
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 7 9 Characteristics of Effective Leaders Understanding Initiative Dependability Judgment Objectivity Confidence Stability Cooperation Honesty Courage Communication Intelligence
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 7 10 Preparing to Be a Leader Study leadership Participate in organizations and activities Practice leadership at work Observe leaders Work with a mentor Do a self-analysis and ask for feedback
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 7 11 IMPORTANCE OF HUMAN RELATIONS Human relations skills Self understanding Understanding others Communication Team building Developing job satisfaction
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 7 12 INFLUENCING PEOPLE Kinds of influence Position influence Reward influence Expert influence Identity influence Formal and informal influence
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE13 Ethical Management Goals Justify the need for ethical management. Identify the role of leaders in increasing ethical behavior. 7-3
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 7 14 IMPORTANCE OF ETHICAL BEHAVIOR Not everyone has the same belief about what is ethical and what is not ethical. Organizations should develop a clear view of what is acceptable business behavior and what is not. Individuals and organizations develop reputations based on their actions and the decisions they make.
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 7 15 WHAT IS ETHICAL BEHAVIOR? It is lawful. It is consistent with company values and policies. It does not harm some while benefiting others. If the actions and results become public, it will not embarrass the company.
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 7 16 ETHICAL MANAGEMENT Actions and activities of the business are legal, honest, and ethical. People and other companies treated fairly. Work of the company improves the communities and countries in which it operates. Company works to protect the environment and conserve natural resources.
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 7 17 INCREASING ETHICAL BEHAVIOR THROUGH LEADERSHIP Preparing the organization – it is a manager’s duty to create an atmosphere in which all employees know they are expected to act ethically. And, to know they will be supported when acting ethically. Modeling ethical behavior – actions speak louder than words; leaders should emphasize the importance of ethical behavior by acting ethically.
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