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AC298 Unit 3 Seminar Professor Kris Friestad. In this unit… In unit 3, we will: 1.Discuss different levels of management 2.Discuss how planning, organizing,

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Presentation on theme: "AC298 Unit 3 Seminar Professor Kris Friestad. In this unit… In unit 3, we will: 1.Discuss different levels of management 2.Discuss how planning, organizing,"— Presentation transcript:

1 AC298 Unit 3 Seminar Professor Kris Friestad

2 In this unit… In unit 3, we will: 1.Discuss different levels of management 2.Discuss how planning, organizing, leading and controlling could be specifically related to management 3.Define different functions of managers 4.Submit a paper (project) 5.Participate in Discussion Board

3 Henri Fayol Lived ◦ Key figure in turn-of-the-century Classical School of Management Theory Considered the father of Systematic Management ◦ Theoretical foundation for a managerial education program based on his experience as a successful managing director of a mining company ◦ Managers didn’t have formal training, just on the job training and learned from their experiences

4 Henri Fayol Developed 5 functions of management: ◦ Planning ◦ Organizing ◦ Commanding ◦ Coordinating activities ◦ Controlling performance Notice: these activities are very task- oriented rather than people-oriented

5 Henri Fayol Also developed 14 Principles of Management (principles of organization): ◦ Specialization of labor – specializing encourages continuous improvement ◦ Authority – right to give orders ◦ Discipline – no slacking or bending of rules ◦ Unity of command – each employee has only one boss ◦ Unity of direction – single mind generates single plan and play their part ◦ Subordination of individual interests – when at work, only work things should be pursued or thought about ◦ Remuneration – employees receive fair payment for service

6 14 Principles of Management (continued) ◦ Centralization – decisions made from the top ◦ Scalar chain – formal chain of command, top to bottom (military) ◦ Order – materials, personnel have assigned place to be ◦ Equity – equality of treatment (not necessarily identical treatment) ◦ Personnel tenure – lifetime employment for good workers (low turnover) ◦ Initiative – thinking out a plan, do what it takes to make it happen ◦ Esprit de corps – harmony, cohesion among personnel

7 14 Principles of Management (continued) Of the 14, most important elements: ◦ Specialization ◦ Unity of command ◦ Scalar chain ◦ Coordination by managers  Combination of authority and unity of direction Do you see any connections between those that were deemed most important? ◦ Are managers seen as “leaders” or just authority giving direction? ◦ How do you think this kind of management style would make employees feel?

8 For our purposes… We are going to use some of this groundwork for our assignment We are going to use these four ideas: ◦ Planning ◦ Organizing ◦ Leading (combination of commanding and coordinating activities) ◦ Controlling

9 Planning Determines where the organization is and where it needs to be in the future Setting goals of the organization Choose strategies and determine resources needed to achieve them Can you think of some plans a manager may make in an organization? Can you share a personal example of a manager who plans well? Or not well? How does planning fit in to your final project?

10 Organizing Coordinating the human, physical and financial information and other resources of the firm Includes specifying job responsibilities, grouping organizational functions What would be an example of good organizational skills that you might need to be successful in your position? Do you see any evidence of good organizational skills currently in place in the coffee shop?

11 Leading The efforts of the manager motivating people to perform their best Involves guiding and inspiring people Encouraging team and organization to achieve goals Difference between leading and directing What do YOU think makes a good leader? ◦ Any examples you would like to share?

12 Controlling The culmination of all the prior steps making certain the plans, organization and leadership are put into practice and that they work accurately. Can controlling be seen as a positive or a negative? What happens if you only have 2 of the 3 previously mentioned functions? Does that make you a poor manager?

13 Do Accountants… Plan? Organize? Lead? Control? How/Why?

14 Management Roles of management ◦ Decisional ◦ Interpersonal ◦ Informational Skills of management ◦ Technical ◦ Interpersonal ◦ Conceptual ◦ Diagnostic ◦ Political

15 Three levels of management 1. Top Level managers – senior management or executives ◦ Example: CEO, CFO 2. Middle Level managers – level below top management ◦ Example: General manager, Regional manager 3. First line managers ◦ Example: Office manager, Shift supervisor

16 Responsibilities of managers Top Level Managers ◦ Responsibilities: setting goals for company, not usually involved in day-to-day activities Middle Level Managers ◦ Responsibilities: carry out goals set by upper management, set goals for their departments, are involved in day-to-day activities First Level Managers ◦ Responsibilities: daily management of line workers, can have a very strong influence on company Are accounting skills important in any of these levels of management?

17 Managers in your final project Do you see evidence of management at Tim’s Coffee Shop? ◦ What is the role of management? ◦ What kinds of management style(s) seems to be present? ◦ Do you have any ideas for Mike what kind of manager might be good for his coffee shop?  Any special skills that might be good?

18 So what does this have to do with Accountants? Do accountants manage others? What level of management are many accountants? Do YOU want to be an accountant who manages others? ◦ Why or why not?

19 Unit 3 Project Scenario Joe’s Steel Corporation is a company that fabricates a variety of industrial steel products. They are located in the Midwest and cater to regional construction needs. The company employs three primary managers. Joe Smith is the second generation CEO for the corporation. He has the final authority on all decisions regarding the direction of the corporation. Larry Haley maintains the position of plant supervisor. He ensures that customers receive satisfactory service and quality steel products. He is also involved in purchasing, budgeting, accounting, and personnel work. In addition, Sondra Ray manages the steel production line. She handles individual employee work assignments and performance as well as monitoring safety requirements.

20 Unit 3 Project The four basic functions or principles of management developed by Henri Fayol are planning, organizing, controlling and leading activities. These four basic management functions differ within the management chain. Planning is the basis of the management function. It determines and outlines the goals of the organization. The planning process involves a strategy that encompasses the actual steps the company must take in order to meet the established goals. The plan should include methods for implementing each of the following steps: organizing, leading, and controlling. Managers must organize their departments in an effort to define the roles and responsibilities of the workers. They must be prepared to revise those roles and assignment of tasks as the organization experiences growth or industry change.

21 Unit 3 Project (cont’d) Managers are challenged to lead their firm’s team. There are many skills a successful manager must possess. Two of the main responsibilities include motivating employees and delegating responsibilities to employees. Successful managers encourage their folks to work to the best of their ability and give 110%. They also assign or delegate work that will ultimately help meet the established goals of the organization. Finally, the manager is required to track the progress of the organization. Controlling is the culmination of all the prior steps making certain the plans, organization and leadership are put into practice and that they work accurately.

22 Unit 3 Assignment PROJECT: In a 2 to 3 page paper identify one of the levels of management and the manager at that level referenced above and discuss how planning, organizing, leading and controlling could be specifically related to that level of management. In your paper, be sure to define each function of management. 1. Identify one of the three levels of management : Strategic (Top), Middle or first line (operational) manager 2. Identify the employee at the corresponding level of management 3. Specify how the four management functions are related to that management level 4. Define each function of managers

23 Unit 3 Assignment DISCUSSION BOARD: We are examining the four functions of management: planning, controlling, organizing and leading. Managers will need special skills to be able to carry out these functions. What skills do managers need? Can you give some example of how those skills would be used to carry out those functions? Review requirements on the syllabus or in the course announcements how to earn maximum points on DB questions ◦ Initial response at least 100+ words, posted by Saturday ◦ Respond to AT LEAST 2 of your classmates or me (total of 3 posts on 3 DIFFERENT days)

24 Unit 3 Assignment Project ◦ Submit to dropbox Discussion ◦ See “Discussion” under Unit 3 tab Due date: Tuesday of Week 3

25 QUESTIONS??? Have an awesome Week 3!! QUESTIONS??? Have an awesome Week 3!!


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