Intro to Business Chapter 7 Management and Leadership 7-1 Management 7-2 Leadership 7-3 Ethical Management

7-1 Management Management – Managers receive ________ and _______ when a business succeeds. Managers are _____ _________when goals are not met. Entrepreneurs, chief executives, supervisors, and vice presidents are all type of managers.

7-1 Management Five Functions of Managers ▫  Analyzing info, setting goals, making decisions ▫  Arranging the work and resources needed to achieve goals ▫  Obtaining, preparing, and compensating employees ▫  Effort to direct and lead people to accomplish planned work ▫  Determining to what extent the business is accomplishing the goals set during the planning sage

7-1 Management Management Levels ▫Top Management – ▫Mid-Management – ▫Supervisors –

7-1 Management Management Style – ▫_______ Management – a style in which the manager is more directive and controlling  Useful with new employees, tight deadlines, assigning new tasks to inexperienced employees ▫_______ Management – a style in which managers are less directive and involve employees in decision-making  Useful if employees are skilled and motivated, to improve group relationships, when employees are willing to take responsibility for their work

7-2 Leadership  Understanding  Initiative  Dependability  Objectivity  Stability  Cooperation  Honesty  Courage  Communication  Intelligence Leadership – Characteristics of Effective Leaders

7-2 Leadership Preparing to Be a Leader ▫______ leadership ▫________ in organizations and activities ▫_______ leadership at work ▫______ leaders ▫Work with a _____ ▫Do a _______ and ask for ________

7-2 Leadership Human Relations – HR Skills ▫Self-Understanding ▫Understanding Others ▫Communication  ▫Team Building ▫Developing Job Satisfaction

7-2 Leadership Influence –  _______ influence – power by position  _______ influence – leader’s ability to give or withhold rewards  ______ influence – when group members recognize that the leader has special expertise in the area  ______ influence – stems from personal trust and respect member have for the leader Informal Influence – Formal Influence –

7-3 Ethical Management _____ Business Practices – ensure that the highest standards of ______ are observed in a company’s relationships with everyone who is a part of the business or is ______ by the business’ activities. 1.Actions of individuals and groups 2.Results of those actions Behavior is ethical if: ▫

7-3 Ethical Management Ethics through Leadership ▫It is a manager’s duty to ___________________ in which all employees are expected to act ethically. ▫Many companies develop a statement of core values – ▫A company must commit to _________________ ▫Ethical behavior should be a part of __________ _____________ ▫Being an ________________inspires others to do the same.