2Preparing and Planning to Manage Chapter 14Preparing and Planning to ManageEntrepreneur or Manager?14.114.2Management Styles and Skills
3Identify the key management functions. 14.1Discuss the difference between the entrepreneurial role and the management role of a new business owner.Identify the key management functions.List and explain the key elements in a positive business climate.Section 14.1 Entrepreneur or Manager?
414.1To be successful in a new business, an entrepreneur must perform management functions and establish a positive working climate.Section 14.1 Entrepreneur or Manager?
5quality control program climate image team building communication 14.1managerplanningstrategic planstactical plansoperational plansorganizingdirectingcontrollingquality control programclimateimageteam buildingcommunicationSection 14.1 Entrepreneur or Manager?
6Managers, Leadership, and Teamwork Each person in a business is a valuable resource.Everyone works together toward a common goal.Section 14.1 Entrepreneur or Manager?
7Entrepreneur and Manager Once you open your business, you wear two hats: that of an entrepreneur and that of a manager.manager a person who is responsible for directing and controlling the work and personnel of a business, or a particular department within a businessSection 14.1 Entrepreneur or Manager?
8Performing Management Functions When managers are managing, they use a series of activities called management functions to achieve their objectives.planningorganizingdirectingcontrollingSection 14.1 Entrepreneur or Manager?
9PlanningThe first step in managing is planning, determining your business’s objectives and how you are going to reach them.planning the act of setting goals, developing strategies, and outlining tasks and timelines to meet those goalsSection 14.1 Entrepreneur or Manager?
10Planning The three levels of planning are: strategic plans tactical plansoperational plansSection 14.1 Entrepreneur or Manager?
11PlanningStrategic plans are long-term plans that don not usually include a specific target date.strategic plans long-range objectives based on long-term goals used to map out a business for three to five yearsSection 14.1 Entrepreneur or Manager?
12PlanningTactical plans are medium-range plans that help ensure that you accomplish specific objectives to meet your plans.tactical plans midrange objectives that focus on a period of one year or less, built on specific objectives with target datesSection 14.1 Entrepreneur or Manager?
13PlanningOperational plans are short-term plans that bring tactical plans to life.operational plans short-term objectives that help achieve tactical plans, including policies, rules and regulations, and budgets for day-to-day operationsSection 14.1 Entrepreneur or Manager?
14OrganizingOrganizing people, equipment, materials, and other resources is an essential part of managing.organizing the grouping of resources in combinations that will help you reach your objectivesSection 14.1 Entrepreneur or Manager?
15DirectingDirecting the efforts of your people and resources will help your company accomplish its planned objectives.directing the process of guiding and supervising employees, often one-on-one, while they workSection 14.1 Entrepreneur or Manager?
16ControllingThe final step in managing, controlling, helps you take corrective action if things are not working out as planned.controlling the process of comparing expected results (objectives) with actual performanceSection 14.1 Entrepreneur or Manager?
17Controlling A quality control program can prevent problems. quality control program a set of measures built into the production process to make sure that products or services meet certain standards and performance requirementsSection 14.1 Entrepreneur or Manager?
18Establishing a Positive Climate The climate that exists in a new business is linked to the tone the manager sets.climate the prevailing atmosphere or attitude in a businessSection 14.1 Entrepreneur or Manager?
19Establishing a Positive Climate The three elements of a positive business climate are:imageteam buildingcommunicationSection 14.1 Entrepreneur or Manager?
20ImageTo begin building a positive business climate, strengthen your company’s image with customers and in the community.image the mental picture and feelings people have when thinking about a business or its products or servicesSection 14.1 Entrepreneur or Manager?
21Team BuildingTeam building contributes to a positive climate by allowing employees to pursue common goals.team building the act of encouraging teamwork through activities designed to foster respect, trust, cooperation, camaraderie, and communication among employeesSection 14.1 Entrepreneur or Manager?
22CommunicationEffective staff communication takes place in an atmosphere of respect and trust.communication the process of exchanging informationSection 14.1 Entrepreneur or Manager?
2314.1Discuss the difference between the entrepreneurial role and the management role of a new business owner.In the entrepreneurial role, the emphasis is on starting the business. The management role focuses on growing and expanding the business and involves coordinating the people, processes, and resources.Section 14.1 Entrepreneur or Manager?
24Identify the key management functions. 14.1Identify the key management functions.The key management functions are planning, organizing, directing, and controlling.Section 14.1 Entrepreneur or Manager?
25List and explain the key elements in a positive business climate. 14.1List and explain the key elements in a positive business climate.The key elements in a positive business climate are image (the mental picture and feelings people have when they think about the business), team building (activities designed to encourage teamwork), and communication (the process of exchanging information).Section 14.1 Entrepreneur or Manager?
26Name the three basic management styles. 14.2Name the three basic management styles.List the skills needed for managing.Explain the principles of management excellence.Section 14.2 Management Styles and Skills
2714.2To manage successfully and excel in leadership situations, you must establish a management style and draw on a specific set of skills.Section 14.2 Management Styles and Skills
28situational management human relations nonverbal communication 14.2situational managementhuman relationsnonverbal communicationnetworkingtime managementconceptual skillscooperative advertisingadvertising agencySection 14.2 Management Styles and Skills
29Adopting a Management Style Management style is the manner in which you approach your management responsibilities.Section 14.2 Management Styles and Skills
30Adopting a Management Style The three styles of management are:power-orientedroutine-orientedachievement-orientedSection 14.2 Management Styles and Skills
31Adopting a Management Style Good managers use situational management as a supplement to their basic approach.situational management the style of adapting the management approach to particular circumstancesSection 14.2 Management Styles and Skills
32Developing Management Skills To manage activities successfully, you must draw on a specific set of skills.These skills can be gained through education and training and improved with practice and experience.Section 14.2 Management Styles and Skills
33problem solving and decision making Developing Management SkillsFundamental Management Skillshuman relationscommunicationnetworkingmathproblem solving and decision makingtechnicaltime managementconceptualSection 14.2 Management Styles and Skills33
34Human RelationsHuman relations skills, considered the most important of the management skills, are tied closely to communication skills.human relations the study of how people relate to each otherSection 14.2 Management Styles and Skills
35CommunicationNonverbal communication is one of the communication skills essential to effective planning, organizing, directing, and controlling.nonverbal communication communication not involving words, transmitted through actions and behaviors, such as facial expressions, gestures, posture, and eye contactSection 14.2 Management Styles and Skills
36NetworkingYou can use business networking to discuss mutual opportunities, solve problems, and share or maximize resources.networking the process of building and maintaining informal relationships with people whose friendship could bring business opportunitiesSection 14.2 Management Styles and Skills
37Time ManagementTime management can help managers because at any given time, managers may have several objectives to accomplish.time management the process of allocating time effectivelySection 14.2 Management Styles and Skills
38Time Management Time management techniques include: Set and prioritize goals.Delegate work when possible.Plan to spend specific blocks of time on specific activities.Schedule activities on a planning calendar.Schedule most important work for times you do your best work.Group activities for most efficient use of time.Handle or eliminate interruptions.Section 14.2 Management Styles and Skills
39Conceptual SkillsAs a small business owner/manager, your conceptual skills enable you to appreciate how day-to-day decisions affect your business’s future.conceptual skills skills that enable a manager to understand concepts, ideas, and principlesSection 14.2 Management Styles and Skills
40Principles of Management Excellence Take action.Keep operations under control.Listen to customers.Keep organization simple, flexible, efficient.Encourage employees to act independentlyKeep business focused on what it does best.Stress respect.Instill commitment to values and objectives.Section 14.2 Management Styles and Skills40
41Name the three basic management styles 14.2Name the three basic management stylesThe three basic management styles are power-oriented, routine-oriented, and achievement-oriented.Section 14.2 Management Styles and Skills
42List the skills needed for managing. 14.2List the skills needed for managing.The skills needed for managing are human relations, communication, networking, math, problem solving and decision making, technical, time management, and conceptual.Section 14.2 Management Styles and Skills
43Explain the principles of management excellence. 14.2Explain the principles of management excellence.The principles of management excellence are take action rather than overanalyze plans; listen to customers and put yourself in their shoes; encourage employees to act independently, be innovative, and treat the business as if it were their own; stress respect for the individual; instill commitment to values and objectives by staying in touch with employees; keep the business focused on what it does best; keep the organization simple, flexible, and efficient and do not overstaff; and keep operations under control and keep an eye on detail.Section 14.2 Management Styles and Skills
44Managing a Virtual Workforce Technology has made it easier for businesses to have workers who work out of the office.Virtual office can help a company save money as workers telecommute, have e-meetings, and use instant messaging.Section 14.2 Management Styles and Skills44
45Tech Termse-meetinga meeting that takes place online or via a telephone conference callgroupwaresoftware designed to be used by more than one person at more than one locationSection 14.2 Management Styles and Skills45
46Tech Terms instant messaging a software application that allows real-time communication between two or more people through a networktelecommuteto work outside an office on a computer linked to the workplace via a modemSection 14.2 Management Styles and Skills46