Manager and Managing Chapters 1 and 2

Managers and Managing Definition of Management Managerial Functions Managerial Roles Managerial Skills 2

Definition of Management What is management? The POLC of resources to achieve goals effectively and efficienty What is a manager? Manager – the person responsible for supervising resouces to achieve goals measuring managerial performance Efficiency – the amount of resources incurred to produce goods and services [doing things right] Effectiveness – how well the orgnization is doing in meeting its goals[doing the right things] 3

Managerial Functions Henri Fayol was the first to describe the 4 managerial functions Noted that all managers must perform: Planning Organizing Leading Controlling 4

Planning Use to select goals and a course of action 5steps: Establish goals Is there a gap:exist between the company’s desire and actual position Devolop plan Implement plan Assess Determining what a company need to do and how best to do it

Organizing Strucring workplace to achieve goals Mobilize resource Creates organizational structure A formal system of relationship Example: functional vs. geographic Guilding and motivating employees to meet the firms objective

Leading Managers articulate vision/strategy of organization Must use: power, persuation, communication and motivation The result: Employees work in harmony Employees perform at a high level Determing how best to arrange a business’s resource

Controlling Essential to evaluate Evaluates how organization is doing in acheving goals Allows organization to regulate efficiency and effectiveness Also allow managers to measure themselves in other 3 area Monitoring the firm’s performance to ensure that is meeting that goal

Managerial Roles Described by Mintzberg A role is a set of specific tasks a person performs because of the position they hold [P. 73]Roles directed inside (employees) as well as outside (shareholders, etc.) the organization Interpersonal Informational Decisional 9

***Interpersonal Roles Coordinate and interact with employees and provide direction to the org. Figurehead role: symbolize the organization Leader role: train, counsel, mentor and encourage to each full potential Liaision role: coordinate people inside and outside the organization to help achieve goals 10

Informational Roles Tasks associated with obtaining and transmitting information Monitor: analyses information, inside and outside organization Desseminator: transmits information to influence member’s work and attitude Spokesperson: use information to promote organization 11

***Decisional Roles Methods managers use to plan strategy and utilize resources to achieve goals Entrepreneur rade: deciding upon ner projects to initiate and invest Disurbance handler role: assume responsibility for handing an unexpect event Resource allocator role: assign people[money between function & division] Negotiator role: help find solutions between stakeholeders 12

Managerial Skills Conceptual skill: ability to analyze and diagnose a situation and find the cause & effect Human skill: the ability to understand after, lead and control people’s behavior Technical skills: the job-specific knowledge required to perform a task Time management skills: the productive use that managers make of their time Decision making skills: skills in defining problems and selecting the best courses of action 13

P. 29 Four main purpose in organizational goal seting Mission statement: organization’s statement of how it will achieve its purpose in the environment in which it conducts its business - long term[5 years or more] - short term[less than 1 year] - intermediate[1-5years]

P.36 Corporation culture