1. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 1 Functions and Skills of Management

2. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 2 Managerial Functions Planning Organizing Leading Controlling

3. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 3 The Roles of Management Interpersonal Informational Decisional

4. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 4 The Planning Function Develop strategies for success Set goals and objectives Develop action plans

5. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 5 Strategic Planning vMarket standing vInnovation vHuman resources vFinancial resources vPhysical resources vProductivity vSocial responsibility vFinancial performance

6. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 6 The Strategic Planning Process Develop vision Write mission statement Perform SWOT analysis Develop forecasts Analyze competition Establish goals and objectives Develop action plans

7. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 7 Clarity of Vision Development Communication Execution Modification

8. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 8 The Mission Statement Purpose Goals Philosophies

9. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 9 SWOT Analysis Strengths Weaknesses Opportunities Threats

10. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 10 Managerial Forecasts Qualitative forecasting –Intuitive judgments –Consumer research Quantitative forecasting –Historical data –Statistical computations

11. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 11 Competitive Analysis Differentiation strategy Cost leadership strategy Focus strategy

12. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 12 Company Goals and Objectives Goals –Broad, long-range Objectives –Specific, short-range Benefits –Boosts motivation –Sets standards –Guides activity –Clarifies expectations

13. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 13 Action Plans Tactical plans Operational plans

14. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 14 Crisis Management Minimize damage –Contingency plans Maintain operations –Open communications

15. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 15 The Organizing Function Employee activities Facilities and equipment Decision making Supervision Resource distribution

16. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 16 The Management Pyramid Top managers Middle managers First-line managers

17. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 17 The Leading Function Influencing people Motivating people

18. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 18 Leadership Skills Emotional Quotient (EQ) –Self-awareness –Self-regulation –Motivation –Empathy –Social skills

19. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 19 Leadership Styles Autocratic Democratic Laissez-faire Contingency

20. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 20 Continuum of Leader Behavior Manager makes decision Manager sells decision Manager presents ideas Manager makes tentative decision Manager presents problem Manager sets decision limits Employees make decision

21. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 21 Additional Leadership Functions Coaching Mentoring Managing change

22. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 22 Corporate Culture Company values People Communication Community involvement Employee performance

23. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 23 The Controlling Function Monitoring progress Resetting the course Correcting deviations

24. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 24 The Control Cycle Set strategic goals 1.Set standards 2.Measure performance 3.Compare to standard 4.Inadequate take action –Correct performance –Reevaluate standards 4.Adequate take no action

25. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 25 Management Skills Interpersonal Technical Administrative Conceptual Decision-making

26. © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 7 - 26 The Decision-Making Process Recognize and define the situation Identify options Analyze options Select the best option Implement the decision Monitor and evaluate the results