2Working In The New Economy The 21st century has brought with it a new workplace, one in which everyone must adapt to a rapidly changing society with constantly shifting demands and opportunities.The new philosophy is: learning and speed are in, and where habit and complacency are out.Organizations are fast changing, as is the nature of work itself.The economy is global, driven by innovation and technology.The concept of success, personal and organizational, is evolving as careers take on new forms and organizations transform to serve new customer expectations.
3Intellectual CapitalPeople, what they know, what they learn, and what they do with it, are the ultimate foundations of organizational performance.Intellectual Capital – is defined as the collective brainpower or shared knowledge of a workforce that can be used to create value.Knowledge Worker – is someone whose mind is a critical asset to employers and who adds to the intellectual capital of the organization.
4Intellectual Capital“Our greatest assets as a corporation are the gifts, talents, and abilities of our employees-owners…When we as a corporation invest in developing people, we are investing in our future.” Herman Miller
5GlobalizationIn a globalized world, countries and people are increasingly interconnected through the news, in travel and lifestyles, in labour markets and employment patterns, and in business dealings.Government leaders now worry about the competitiveness of nations, just as corporate leaders worry about business competitiveness.Globalization – is the worldwide interdependence of resource flows, product markets, and business competition.
6TechnologyWe now live in a technology-driven world increasingly dominated by bar codes, automatic tellers, computerized telemarketing campaigns, electronic mail, Internet resources, electronic commerce, and more.From the small retail store to the large multinational firm, technology is an indispensable part of everyday operations – where one is checking inventory, making a sales transaction, ordering supplies, or analyzing customer preferences.When it comes to communication in organizations, geographical distances hardly matter anymore.
7DiversityWorkforce Diversity – describes differences in gender, race, age, ethnicity, able-bodiness, religious affiliation, and sexual orientation among workers.Prejudice – is the display of negative, irrational attitudes toward women and minorities.Discrimination – actively denies women and minorities the full benefits of organizational membership.Glass Ceiling Effect – is the invisible barrier limiting career advancement of women and minorities.
8Ethics“We are responsible to the communities in which we live and work, and to the world community as well. We must be good citizens – support good works and charities and bear our fair share of taxes. We must encourage civic improvements and better health and education. We must maintain in good order the property we are privileged to use, protecting the environment and natural resources...a statement from the credo of Johnson & Johnson
9EthicsEthics – set moral standards of what is “good” and “right” in one’s behaviour.Corporate Governance – is oversight of a company’s management by a board of directors.
10CareersThe career implications of the new economy and the challenges of change make personal initiative and self-renewal hallmarks of the day.You must be prepared to prosper in any career situation.The typical career in the 21st century won’t be uniformly full-time and limited to a single large employer. It will like involve several employment options over time.Not only must you be prepared to change jobs and employers over time, but your skills must be portable and always of current value in the employment market.
12What is a Manager?A manager is a person who supports and is responsible for the work of others.No job is more vital than that of a manager. It is the manager who determines whether our social instructions serve us well or whether they squander our talents and resources. It is time to strip away the folklore about managerial work, and time to study it realistically so that we can begin the difficult task of making significant improvement in its performance.
13Levels of ManagersTop managers guide the performance of the organization as a whole or of one of its major parts.Middle managers oversee the work of large departments or divisions.Project managers coordinate complex projects with task deadlines.Team leaders or supervisors report to middle managers and directly supervise nonmanagerial workers.
14Seven Types of Managers The Neanderthal or AutocraticThis style of leadership is the boss who delivers in the form of orders, like “do this” or “do this now”. This is the boss that hasn’t quite embraced that he is a leader of thinking, caring people and not cavemen that are fine with communications that sound more like grunts. If your manager is stuck in the Stone Age, make the extra effort to clarify his directions and understand what is expected of you.
15Seven Types of Managers The MumThis is one where the boss seems to forget that employees are not mushrooms – they don’t do well in the dark. The best thing for an employee to do with a shy boss or one with the “Mum” style is to give regular prompts or pings for communications. Ask for directions, updates and feedback.
16Seven Types of Managers The DirectorThe manager prefers to get the work done through the efforts of others – subordinates, assistants, associates – they determine what is correct, appropriate or effective. The Director is great at moving projects forward and getting work done, though the constant flow of orders may cause some employees to feel over managed.
17Seven Types of Managers The MicromanagerThis person is always involved in every aspect, almost like a control freak. They need to know every detail, no matter how small, and seem to hover around employees watching their every move.
18Seven Types of Managers The Warm and Fuzzy ManagerThey always have something nice to say, always mention how great the company is doing and how they think you are doing a great job. Now, encouragement is of course a good thing, but not giving honest feedback is not.
19Seven Types of Managers The Democratic ManagerThis person like to draw from the knowledge and skills of other people. They like to create groups and promote brainstorming. Depending on the situation, this can be positive or negative. Certain situations can be quickly solved with a group discussion. Certain situations can take a turn for the worse when there are “too many cooks in the kitchen.”
20Seven Types of Managers The Laissez-faire ManagerThis type of manager takes a hands-off approach. He provides very little communication and believes that people know exactly what to do without being told. You can best manage this type of boss by being respectful of his time.
21Seven Types of Managers No matter what type of manager you have, remember that the relationship is just as much about you as your boss. There are bad bosses out there, without a doubt. And some workplaces are structurally dysfunctional. But each relationship is a two-way street, and most relationships break down due to poor communications which, in itself, is often a symptom of deeply rooted misunderstandings about what truly motivates us.
22Managerial Performance Accountability is the requirement to show performance results to one’s immediate supervisor.Quality of work life is the overall quality of human experiences in the workplace.
23Changing Nature of Managerial Work In today’s organizations the words “coordinator”, “coach”, and “team leader” are heard as often as “supervisor” or “manager”. The work managers perform is less directive and more supportive than in the past. There is little tolerance or need in today’s organizations for those who simply sit back and tell others what to do. The best managers are well informed regarding the needs of those reporting to or dependent on them.
24The Organization viewed as an upside-down pyramid
25The Management Process Functions of ManagementPlanningControlling OrganizingLeading
26Functions of Management Management is the process of planning, organizing, leading, and controlling the use of resources to accomplish performance goals.Planning is the process of setting objectives and determining what should be done to accomplish them.
27Functions of Management Organizing is the process of assigning tasks, allocating resources, and coordinating work activities.Leading is the process of arousing enthusiasm and inspiring efforts to achieve goals.Controlling is the process of measuring performance and taking action to ensure desired results.
28Managerial Activities and Roles Interpersonal RolesHow a manager interacts with other people- figurehead- leader- liaison
29Managerial Activities and Roles Informational RolesHow a manager exchanges and processes information- monitor- disseminator- spokesperson
30Managerial Activities and Roles Decisional RolesHow a manager uses information in decision making- entrepreneur- disturbance handler- resource allocator- negotiator
31Learning How to ManageLifelong Learning is continuous learning from daily experiences.Essential Managerial Skills:Skill – is the ability to translate knowledge into action that results in desired performance.Technical skill – is the ability to use expertise to perform a task with proficiency.Human skill – is the ability to work well in co-operation with other people.Emotional intelligence – is the ability to manage ourselves and our relationships effectively.Conceptual skill – is the ability to think analytically and solve complex problems.Managerial competency – is a skill-based capacity for high performance in a management job.