Chapter 7: Management Day 1: How Management Functions & Managing Resources

Today’s Response Journal What is a manager? Define. What tasks are managers responsible for? ***Save as Nov. 4 in your Response Journal Folder***

Terminology A __________ is someone who gets things done by directing others Managers develop employees and are responsible for the efforts of the employees that report to them Managers try to achieve company goals by deciding how to allocate company’s financial, material and human resources Manager

Functions of Management Management performs 4 major functions; 1. Planning 2. Organizing 3. Leading 4. Controlling

1. Planning Planning is the process of setting realistic short-term and long-term ________ for a business and deciding how to best achieve them The long-term goal for any business is … TTo Maximize Profit Short-term goals are often expressed as … AA sales or income target Managers must understand the goals and develop strategies that will achieve them Goals

2. Organizing Organizing it the process of arranging people and tasks to carry out the ________ of the business Manager of each department must determine the tasks and duties for that department Plans

3. Leading Leading is the process of focusing employees on achieving company objectives and motivating staff to accomplish these objectives Activities include; LLeading teams (motivating, communicating and encouraging participation) MManaging conflict and stress Much of a manager’s time is spent motivating and encouraging their employees

4. Controlling Controlling is the method that managers use to increase, maintain or decrease the __________ they are allocated Activities include; EEmployee discipline PPerformance appraisal BBudgeting ___________ is the process of planning how income will be spent Resources Budgeting

Levels of Management There are 3 levels of management; Upper Middle Lower

Upper Management Upper Management is responsible for setting ______________ company goals  E.g. new products, new markets to enter, etc. Job titles include;  CEO (Chief Executive Officer)  CFO (Chief Financial Officer)  VP of Marketing Long-Term

Middle Management Middle Management ____________ plans received from upper management and implements them Job titles include;  Plant manager  Regional manager Interprets

Lower Management Lower Management ____________ plans received from above (middle managers) Job titles include;  Team leader  Supervisor  Assistant manager Implements

Managing Resources Remember that a manager’s role is to allocate resources In addition to managing people, the manager also manages … PPurchasing PProduction MMarketing and distribution RResearch and development FFinance

Purchasing An individual known as a purchasing manager is responsible for negotiating supply, delivery and price of raw materials, equipment and goods for resale Having one department responsible for purchasing usually saves money  Gives companies the ability to buy in _______ Bulk

Production Production managers ensures the company makes what it is supposed to make They have to arrange and co-ordinate; EEquipment maintenance SShift scheduling TTechnical improvements

Marketing and Distribution Marketing and distribution managers try to ensure that the products that are made, get ______ They are responsible for developing sales strategies including; AAdvertising PPromotional activities PPublicity Sold

Research and Development (R&D) R&D departments … CCreate new products and/or services CCome up with new or better ways to produce the same products and/or services The department’s work is often based on feedback from the public Therefore, R&D managers must analyze and interpret the feedback/data and give direction to their department TThey also prepare reports that help other departments such as purchasing, production and marketing, make decisions

Finance The ______________, or manager of the financial department, is often an __________ The comptroller is responsible for keeping the records of the company’s financial transactions and controlling the company’s money  Includes setting the budget for each department Comptroller Accountant

Day 1 – Assigned Work Students please complete the following; Read the Profile: GoodLife Fitness Club on page 209 and answer the 2 questions Review Questions #2, 3 & 5 on page 215

Chapter 7: Management Day 2: Leadership Styles

Today’s Response Journal What is a leader? What kind of qualities/personality traits do you feel leaders possess? ***Save as Nov. 6 in your Response Journal Folder***

Overview of Leadership Styles All leaders have different styles The style depends on the manager’s personality and the situation There are 3 main leadership styles; 1. Autocratic 2. Laissez-Faire 3. Democratic

1. Autocratic Leader An Autocratic Leader … MMakes all the decisions and expects employees to do as they are told TTakes control of the situation DDoesn’t allow employees to participate in decision making This type of leadership, works well when decisions need to be made quickly Too much autocratic leadership can lead to ________________; employees feel undervalued and rebel against decisions made without their input Discontentment

2. Laissez-Faire Leader A Laissez-Faire Leader … LLeaves employees alone to do their jobs This type of leadership is appropriate when employees have years of experience and know what they are doing (suitable for professionals) However, all employees still need direction, guidance and motivation occasionally Without feedback, employees become uncertain about their work, unmotivated and directionless This is not a good leadership style to use with employees who are new to their jobs

3. Democratic Leader A Democratic Leader … PProvides employees with the opportunity to contribute in the decision-making process Employees provide input, information and creativity This style encourages staff, recognizes achievement and increases team morale Employees feel appreciated and productivity increases Democratic leadership is the most effective leadership style

DVD: The Hostile Skies While watching the DVD listen for answers to the below questions. As a class, we will discuss after the video. 1. Who is Robert Milton? 2. After a billion dollars in wage cuts, what was Milton promised if his employees also took cuts to their pensions? 3. What airline is Air Canada’s biggest competitor? What is its main advantage over Air Canada? 4. Complete the equation. Unhappy employees = _______. 5. What ere the terms of Milton’s bonus? 6. In your opinion, who is more important to a company: its shareholders or its employees?

Day 2 – Assigned Work Students please complete the following; Answer Review Questions #7 & 8 on page 217 What kind of leadership style do you think you most often use? Provide an example to support your opinion.

Chapter 7: Management Day 3: Ethical Behaviour and Management

Today’s Response Journal What is ethics? Why is it important for management to act in an ethical manner? ***Save as Nov. 10 in your Response Journal Folder***

Overview Ethics is important at all levels of a corporation Three ethical areas to consider for management include; MManagement and employees MManagement and the environment MManagement and the community

Management and Employees Managers need to be role models and lead by example Managers must provide their employees with … FFair pay RReasonable hours VVacation IInteresting work Managers need to treat their employees with respect and dignity Some companies have an Ethical Code of Conduct, which includes company policies on discrimination, sexual harassment, bribery, kickbacks, theft, etc Example; read paragraph 2 on page 218

Management and the Environment Companies must consider their environmental footprint and minimize the damage As a business, there are many ways to be environmentally friendly including; BBuild new facilities using green materials and technology HHave recycling programs SSee the full list in Table 7.1 on page 219 EExample; read paragraph 4 on page 218

Using environmentally friendly practices is good for public relations CConsumers are more likely to buy from a company that cares about the environment CCan lead to increased profit, as environmental practices can decrease costs and increase sales

Management and the Community Many management decisions impact the local community either _______ or __________ A good way to positively impact the community is to contribute to ___________  E.g. many local companies organize campaigns to raise money for the United Way, while others support charities directly like CIBC and breast cancer research (CIBC Run fro the Cure) DirectlyIndirectly Charities

DVD: How Bad is Your Boss? While watching the DVD listen for answers to the below questions. As a class, we will discuss after the video. 1. Name 5 personality traits that Bill Wilkerson, the former head of Liberty Health, demonstrated as a bad boss. 2. Why is good management important? 3. According to Fortune magazine, who is the toughest boss in America? 4. What is Robert Lemieux’s biggest problem as a boos? 5. What management function was emphasized in this segment? 6. What kind of boss are you?  Consider situations in which you have been in control: babysitting, team captain, etc.

Day 3 – Assigned Work Students please complete the following;  Activity: Ethics and Management  Handout provided