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© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 1 7-1 7-1Management Functions and Styles 7-2 7-2Leadership.

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Presentation on theme: "© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 1 7-1 7-1Management Functions and Styles 7-2 7-2Leadership."— Presentation transcript:

1 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE Management Functions and Styles Leadership Ethical Management 7 C H A P T E R Management and Leadership

2 © 2012 Cengage Learning. All Rights Reserved. SLIDE Management Functions and Styles Goal 1Define the five functions of management. Goal 2Describe the levels of management in businesses and organizations. Goal 3Discuss how and when to use the two management styles.

3 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 3 KEY TERMS ●management ●planning ●organizing ●staffing ●implementing ●controlling ●management style

4 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 4 ROLE AND WORK OF MANAGERS ●Who is a manager? ●Management is the process of accomplishing the goals of an organization through the effective use of people and other resources.

5 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 5 What do managers do? ●What are the five management functions? ●planning ●organizing ●staffing ●implementing ●controlling

6 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Planning ●Planning involves analyzing information, setting goals, and making decisions about what needs to be done. SLIDE 6

7 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Organizing ●Organizing means identifying and arranging the work and resources needed to achieve the goals that have been set. SLIDE 7

8 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Staffing ●Staffing includes all of the activities involved in obtaining, preparing, and compensating the people who work for a business. SLIDE 8

9 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Implementing ●Implementing is the effort to direct and lead people to accomplish the planned work of the organization. SLIDE 9

10 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Controlling ●Controlling determines to what extent the business is accomplishing the goals it set out to reach in the planning stage SLIDE 10

11 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 11 MANAGEMENT LEVELS ●Top management ●Middle management ●Supervisors ●Management by others

12 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Top management (CEO, COO, Pres. VP) ●Executives are top-level managers with responsibilities for the direction and success of the entire business. ●They set long-term direction and plans. ●They are held accountable for the profitability and success of the business. ●Executives spend most of their time on planning and controlling activities. ● Executives are responsible for the work of all other managers and employees. SLIDE 12

13 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Middle management ●Middle managers are specialists with responsibilities for specific parts of a company’s operations. ●Marketing, information technology, customer service manager, operations manager, and human resources manager ●They must coordinate their work with other managers. ●Much of their time is devoted to organizing, staffing, and implementing functions. SLIDE 13

14 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Supervisors ●Supervisors are the first level of management in a business. They are responsible for the day-to-day work of a small group of employees. ●They may have non management duties in addition to their management work. ●They spend most of their time on the implementing management function SLIDE 14

15 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Management by Others ●Employees who are not managers may complete work that seems to be a part of one of the management functions. ●Employees plan and organize their work. ●They might take part in hiring and training new employees ●Without authority and responsibility, the work of an employee is not considered management. SLIDE 15

16 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Work Teams ●Many companies organize employees into work teams. Those teams have both authority and responsibility for much of their work. ●Some experienced employees are asked to serve as leaders in their work group. ●Both situations are effective ways for employees to develop management skills. SLIDE 16

17 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 17 Checkpoint ●What are the differences among the three levels of management? ●Top-level managers are executives with responsibilities for the direction and success of the entire business. ●Middle managers are specialists with responsibilities for specific parts of a company’s operations. ●Supervisors are first-level managers who are responsible for the work of a group of employees.

18 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 18 MANAGEMENT STYLES ●The way a manager treats and involves employees is called “Management Style” ●Tactical management ●Strategic management ●Mixed management

19 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Tactical management ●Tactical management is a style in which the manager is more directive and controlling. ●The manager will make the major decisions and stay in close contact with employees while they work SLIDE 19

20 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Strategic management ●Strategic management is a style in which managers are more collaborative and involve employees in decision making ●A manager using a strategic style expects employees to work without direct supervision and will seek their input on important decisions. SLIDE 20

21 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Mixed management ●Many times the situation may dictate which type of management will work better ●The combined use of tactical and strategic management is known as mixed management. SLIDE 21

22 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 22 CHOOSING A MANAGEMENT STYLE

23 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 23 Checkpoint ●How is tactical management different from strategic management? ●The tactical management style is more directive and controlling than the strategic management style. ●Using tactical management, the manager makes the major decisions and supervises employees closely to make sure the work is done well. ●In strategic management, managers are less directive and involve employees in decision- making.

24 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Your Insight ●Think of a coach, teacher or other leader with whom you particularly liked to work. ●Identify the approaach the person used in working with people and describe why that approach seemed to be effective SLIDE 24

25 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Your Style Decision ●List several situations in an organization that would require management action. (such as preparing a budget, handeling a conflict among co-workers or solving a production problem) ●Which management style would be most effective for each situation and why? ●Justify your position SLIDE 25

26 © 2012 Cengage Learning. All Rights Reserved. SLIDE Leadership Goal 1Describe the need for leadership skills and the characteristics of an effective leader. Goal 2Identify the human relations skills needed by managers and leaders. Goal 3Recognize four types of leadership influence.

27 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 27 KEY TERMS ●leadership ●human relations ●influence ●informal influence ●formal influence

28 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 28 WHAT IS LEADERSHIP? ●Effective leadership is the ability to motivate diverse individuals and groups to accomplish important goals. This requires different techniques for each situation ●Need for leadership ●Today, managers are expected to do more than just give orders. They are expected to find ways to meet employee needs as well as business needs.

29 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 29 CHARACTERISTICS OF EFFECTIVE LEADERS ●Understanding ●Initiative ●Dependability ●Judgment ●Objectivity ●Confidence ●Stability ●Cooperation ●Honesty ●Courage ●Communication ●Intelligence

30 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 30

31 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 31 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

32 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 32 Checkpoint ●What are several ways to develop leadership skills? ●Leadership skills can be developed through studying leadership, participating in organizations and activities, practicing leadership at work, observing leaders, working with a mentor, and doing a self- analysis and asking for feedback.

33 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 33 IMPORTANCE OF HUMAN RELATIONS ●Human relations skills ●Self-understanding ●Understanding others ●Communication ●Team building ●Developing job satisfaction

34 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Self-understanding ●To be able to meet the expectations of others, leaders must first understand their own strengths and weaknesses SLIDE 34

35 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Understanding others ●Leaders recognize that people they work with often are more alike than different. Recognizing those similarities will help develop a stronger team. ●Differences can also improve a work team. If everyone thought and acted the same, there would seldom be new ideas SLIDE 35

36 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Communication ●Formal or informal ●Formal uses official established processes ●Informal uses unofficial processes ●Internal or external ●Internal is within the organization ●External is to someone outside the organization SLIDE 36

37 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Communication cont. ●Vertical or horizontal ●Vertical to a different personnel layer ●Horizontal to the same level ●Oral or written ●Oral is spoken ●Written include notes, letters, reports, and text or graphics sent via technology. SLIDE 37

38 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Team Building ●Businesses are oranized into groups and teams. The combined skills of the people in an effective team are greater than that of individual workers alone. SLIDE 38

39 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Developing Job Satisfaction ●Most people are more satisfied than dissatisfied with their work because they have jobs that use their skills and interests ●Employees appreciate it when a manager offers recognition for a job well done. SLIDE 39

40 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 40 Checkpoint ●Why do managers and leaders need effective human relations skills? ●Most managers spend a majority of their time interacting with people. They work with employees, customers, people from other businesses, and other managers in their own organizations.

41 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 41 INFLUENCING PEOPLE ●Kinds of influence ●Position influence – is the ability to get others to accomplish tasks because of the position the leader holds ●Reward influence – results from the leader’s ability to give or withhold rewards ●Expert influence – exists when group members recognize and appreciate a leader’s expertise in a specific area ●Identity influence – stems from the personal trust and respect members have for the leader

42 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 INFLUENCING PEOPLE cont. ●It is not easy to continue to get people to do things just because you are their manager. They will probably do just enough to get by, get a reward, or avoid punishment. Most leaders try to develop Expert and Identity influence to gain the respect and support of the group. SLIDE 42

43 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Formal and Informal Influence ●Informal Influence – is power resulting from the persona; characteristics of a leader rather than the formal structure of an organization. ●Formal Influence – is power based on a leader’s position within the formal structure of an organization. SLIDE 43

44 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 44 Checkpoint ●What is the difference between formal and informal influence? ●Formal influence results from a position that is a part of the organization’s structure. ●Informal influence results from personal characteristics and is not a formal position in the organization.

45 © 2012 Cengage Learning. All Rights Reserved. SLIDE Ethical Management Goal 1Justify the need for ethical management. Goal 2Identify the role of leaders in increasing ethical behavior.

46 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 46 KEY TERMS ●ethical business practices ●Actions, activities and results of the business are legal, honest, and fair (the golden rule). ●core values ●principles that guide decisions and actions in the company.

47 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 47 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.

48 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 48 WHAT IS ETHICAL BEHAVIOR? ●It is lawful. ●It is consistent with company values and policies. ●It is not intended to harm some so that others can benefit. ●If the actions and results become public, it will not embarrass the company.

49 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 49 ETHICAL Business Practices ●Actions, activities and results of the business are legal, honest, and fair (the golden rule). ●People and other companies treated fairly. ●Work of the company improves the communities and countries in which it operates. ●Resources are used efficiently with consideration of the effect on people and the environment.

50 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 50 Checkpoint ●What are the two parts of ethical behavior? ●The actions of individuals and groups ●The results of those actions

51 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 51 INCREASING ETHICAL BEHAVIOR THROUGH LEADERSHIP ●Preparing the organization ●It is the responsibility of managers to establish an atmosphere in which all employees know they are expected to act ethically and believe they will be supported when they make the right decision. ●Modeling ethical behavior ●Managers demonstrate their commitment to ethical behavior with their actions.

52 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 Mission Statement ●Mission statements - describe the reason businesses exists and what they want to accomplish. ●Mission statements alone do not set an ethical tone for a business. A core value statement and a business ethics statement are needed to set the ethical tone for a company SLIDE 52

53 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 CORE VALUES – Rite Aid SLIDE 53

54 © 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 7 SLIDE 54 Checkpoint ●What are the core values of an organization? ●An organization’s core values are the principles that guide decisions and actions in the company. ●Mission statements - describe the reason businesses exists and what they want to accomplish.


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