Presentation on theme: "“Companies fail when they become complacent and imagine that they will always be successful. So we are always challenging ourselves. Even the most successful."— Presentation transcript:
1“Companies fail when they become complacent and imagine that they will always be successful. So we are always challenging ourselves. Even the most successful companies must constantly reinvent themselves.--Bill Gates Chairman and Chief Software Architect Microsoft
3The Business World Today Constant change!TechnologySocietyEnvironmentCompetitionDiversity
4What is Management?The process of deciding how best to use a business’s resources to produce good or provide servicesEmployeesEquipmentMoney
5What is Management? Auto industry managers Assembly line: schedule work shifts, supervise assembly of vehiclesEngineering: develop new product features, enforce safety standardsGeneral: plan for the futureAll organizations need managers!
6Levels of Management Senior management Establishes the goal/objectives of the businessDecides how to use the company’s resourcesNot involved in the day-to-day problemsSet the direction the company will followChairperson of the company’s board of directors, CEO, COO, senior vice presidents
7Levels of Management Middle management Responsible for meeting the goals that senior management setsSets goals for specific areas of the businessDecides which employees in each area must do to meet goalsDepartment heads, district sales managers
8Levels of Management Supervisory management Make sure the day-to-day operations of the business run smoothlyResponsible for the people who physically produce the company's products or servicesForepersons, crew leaders, store managers
10The Management Process Three ways to examine how management works:Tasks performedPlanning, organizing, staffing, leading, controllingRoles played (set of behaviors associated with a particular job)Interpersonal, information-based, decision-makingSkills neededConceptual, human relations, technical
11The Management Process PlanningDecides company goals and the actions to meet themCEO sets a goal of increasing sales by 10% in the next year by developing a new software program
12The Management Process OrganizingGroups related activities together and assigns employees to perform themA manager sets up a team of employees to restock an aisle in a supermarket
13The Management Process StaffingDecides how many and what kind of people a business needs to meet its goals and then recruits, selects, and trains the right peopleA restaurant manager interviews and trains servers
14The Management Process LeadingProvides guidance employees need to perform their tasksKeeping the lines of communication openHolding regular staff meetings
15The Management Process ControllingMeasures how the business performs to ensure that financial goals are being metAnalyzing accounting recordsMake changes if financial standards not being met
16Relative Amount of Emphasis Placed on Each Function of Management
17Management Roles Managers have authority within organizations Managers take on different roles to best use their authorityInterpersonal rolesInformation-related rolesDecision-making roles
18Management Roles Interpersonal roles A manager’s relationships with peopleProviding leadership with the companyInteracting with others outside the organizationSenior managers spend much of their time on interpersonal rolesRepresent the company in its relations with people outside the company, interacting with those people, and providing guidance and leadership to the organizationDetermine a company’s cultureSears, Roebuck and Co.
19Management Roles Information-related roles Decision-making roles Provide knowledge, news or advice to employeesHolding meetingsFinding ways of letting employees know about important business activitiesDecision-making rolesMakes changes in policies, resolves conflicts, decides how to best use resourcesMiddle and supervisory managers spend more time resolving conflicts than senior managers
20Management Skills Conceptual skills Skills that help managers understand how different parts of a business relate to one another and to the business as a wholeDecision making, planning, and organizing
21Management Skills Human relations skills Skills managers need to understand and work well with peopleInterviewing job applicants, forming partnerships with other businesses, resolving conflicts
22Management Skills Technical skills The specific abilities that people use to perform their jobsOperating a word processing program, designing a brochure, training people to use a new budgeting system
23Management SkillsAll levels of management require a combination of conceptual, human relations, and technical skillsConceptual skills most important at senior management levelTechnical skills most important at lower levelsHuman relations skills important at all levels
24Principles of Management A principle is a basic truth or lawManagers often use certain rules when deciding how to run their businessMost management principles are developed through observation and deduction
25Principles of Management Deduction is the process of drawing a general conclusion from specific examplesObserve that employees in 15 companies work more efficiently when their supervisors threat them wellDeduce/conclude that a pleasant work environment contributes to productivityConclusion becomes a management principle
26Principles of Management Management principles are best viewed as guides to action rather than rigid lawsIf a principle does not apply to a specific situation, an experienced manager will not use itImportant to recognize when a principle shouldn’t be followedBeing able to change and adapt is an important management skill
27Principles of Management Do all employees need to arrive at work at the same time?Do people who work in offices need to dress in a certain way?
28Women and Minorities in Management In the last three decades, an increased number of women and minorities have joined the workforceThey’ve attained positions as managers in companies of all sizesWomen and minorities now serve as the CEOs of prestigious businessesAvon, eBay, Lucent
29Women and Minorities in Management White men still hold most senior management positionsGlass ceiling: the invisible barrier that prevents women and minorities from moving up in the world of businessSteadily becoming a window of opportunity!
30Women and Minorities in Management Workers and managers must be sensitive to challenges presented by a multicultural workplaceReligious holidays that are celebrated at different times throughout the year by Muslims, Christians, Jews and other religious groups