Preparing and Planning to Manage Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? Management Styles and Skills 14.1 Section 14.2 Section 14

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage Describe the difference between the entrepreneurial role and the management role of a new business owner. Identify the management functions. List and explain the key elements in a positive business climate. Section Objectives

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage To be successful in a new business, an entrepreneur must perform management functions, establish a positive working climate, and maintain an entrepreneurial perspective. The Main Idea

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage Content Vocabulary manager planning strategic plans tactical plans operational plans organizing directing controlling quality control program climate image team building communication

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage Each person in a business is a valuable resource. Everyone works together toward a common goal. Managers, Leadership, and Teamwork

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage Once you open your business, you wear two hats: that of an entrepreneur and that of a manager. manager a person who is responsible for directing and controlling the work and personnel of a business, or a particular department within a business Entrepreneur and Manager

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage Performing Management Functions When managers are managing, they use a series of activities called management functions to achieve their objectives. planning directing organizing controlling

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage The first step in managing is planning, determining your business’s objectives and how you are going to reach them. planning the act of setting goals, developing strategies, and outlining tasks and timelines to meet those goals Planning

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage The three levels of planning are: strategic plans tactical plans operational plans Planning

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage Strategic plans are long- term plans that do not usually include a specific target date. strategic plans long-range objectives based on long-term goals used to map out a business for three to five years Planning

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage Tactical plans are medium-range plans that help ensure that you accomplish specific objectives to meet your plans. tactical plans midrange objectives that focus on a period of one to three years, built on specific objectives with target dates Planning

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage Operational plans are short-term plans that bring tactical plans to life. operational plans short-term objectives that help achieve tactical plans, including policies, rules and regulations, and budgets for day-to-day operations Planning

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage Organizing people, equipment, materials, and other resources is an essential part of managing. organizing the grouping of resources in combinations that will help you reach your objectives Organizing

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage Directing the efforts of your people and resources will help your company accomplish its planned objectives. directing the process of guiding and supervising employees, often one- on-one, while they work Directing

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage The final step in managing, controlling, helps you take corrective action if things are not working out as planned. controlling the process of comparing expected results (objectives) with actual performance Controlling

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage A quality control program can prevent problems. quality control program a set of measures built into the production process to make sure that products or services meet certain standards and performance requirements Controlling

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage The climate that exists in a new business is linked to the tone the manager sets. climate the prevailing atmosphere or attitude in a business Establishing a Positive Climate

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage The three elements of a positive business climate are: image team building communication Establishing a Positive Climate

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage To begin building a positive business climate, strengthen your company’s image with customers and in the community. image the mental picture and feelings people have when thinking about a business or its products or services Image

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage Team building contributes to a positive climate by allowing employees to pursue common goals. team building the act of encouraging teamwork through activities designed to foster respect, trust, cooperation, camaraderie, and communication among employees Team Building

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage Effective staff communication takes place in an atmosphere of respect and trust. communication the process of exchanging information Communication

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage After You Read 1.Discuss the difference between the entrepreneurial role and the management role of a new business owner. In the entrepreneurial role, the emphasis is on starting the business. The management role focuses on growing and expanding the business and involves coordinating the people, processes, and resources.

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage After You Read 2.Identify the key management functions. The key management functions are planning, organizing, directing, and controlling.

Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? SECTION SECTION 14.1 Chapter 14 Preparing and Planning to Manage After You Read 3.List and explain the key elements in a positive business climate. The key elements in a positive business climate are image (the mental picture and feelings people have when they think about the business), team building (activities designed to encourage teamwork), and communication (the process of exchanging information).

Management Styles and Skills Glencoe Entrepreneurship: Building a Business SECTION Chapter 14 Preparing and Planning to Manage 14.2 Name the three basic management styles. List the skills needed for managing. Explain the principles of management excellence. Section Objectives

Management Styles and Skills Glencoe Entrepreneurship: Building a Business SECTION Chapter 14 Preparing and Planning to Manage 14.2 To manage successfully and excel in leadership situations, you must establish a management style and draw on a specific set of skills. The Main Idea

Management Styles and Skills Glencoe Entrepreneurship: Building a Business SECTION Chapter 14 Preparing and Planning to Manage 14.2 Content Vocabulary situational management human relations nonverbal communication networking time management conceptual skills

Management Styles and Skills Glencoe Entrepreneurship: Building a Business SECTION Chapter 14 Preparing and Planning to Manage 14.2 Management style is the manner in which you approach your management responsibilities. Adopting a Management Style

Management Styles and Skills Glencoe Entrepreneurship: Building a Business SECTION Chapter 14 Preparing and Planning to Manage 14.2 The three styles of management are: power-oriented routine-oriented achievement-oriented Adopting a Management Style

Management Styles and Skills Glencoe Entrepreneurship: Building a Business SECTION Chapter 14 Preparing and Planning to Manage 14.2 Good managers use situational management as a supplement to their basic approach. situational management the style of adapting the management approach to particular circumstances Adopting a Management Style

Management Styles and Skills Glencoe Entrepreneurship: Building a Business SECTION Chapter 14 Preparing and Planning to Manage 14.2 To manage activities successfully, you must draw on a specific set of skills. These skills can be gained through education and training and improved with practice and experience. Developing Management Skills

32 human relations communication networking math problem solving and decision making technical time management conceptual Fundamental Management Skills

Management Styles and Skills Glencoe Entrepreneurship: Building a Business SECTION Chapter 14 Preparing and Planning to Manage 14.2 Human relations skills, considered the most important of the management skills, are tied closely to communication skills. human relations the study of how people relate to each other Human Relations

Management Styles and Skills Glencoe Entrepreneurship: Building a Business SECTION Chapter 14 Preparing and Planning to Manage 14.2 Nonverbal communication is one of the communication skills essential to effective planning, organizing, directing, and controlling. nonverbal communication communication not involving words, transmitted through actions and behaviors, such as facial expressions, gestures, posture, and eye contact Communication

Management Styles and Skills Glencoe Entrepreneurship: Building a Business SECTION Chapter 14 Preparing and Planning to Manage 14.2 You can use business networking to discuss mutual opportunities, solve problems, and share or maximize resources. networking the process of building and maintaining informal relationships with people whose friendship could bring business opportunities Networking

Management Styles and Skills Glencoe Entrepreneurship: Building a Business SECTION Chapter 14 Preparing and Planning to Manage 14.2 Time management can help managers because at any given time, managers may have several objectives to accomplish. time management the process of allocating time effectively Time Management

Management Styles and Skills Glencoe Entrepreneurship: Building a Business SECTION Chapter 14 Preparing and Planning to Manage 14.2 Here are some useful time management techniques: Set and prioritize your goals. Delegate work to others whenever possible. Plan to spend specific blocks of time on specific activities that help you achieve your goals. Schedule your activities on a planning calendar. Schedule your most important work for times when you do your best work. Group your activities for the most efficient use of time. Handle or eliminate interruptions so they take up as little time as possible. Time Management

Management Styles and Skills Glencoe Entrepreneurship: Building a Business SECTION Chapter 14 Preparing and Planning to Manage 14.2 As a small business owner/manager, your conceptual skills enable you to appreciate how day- to-day decisions affect your business’s future. conceptual skills skills that enable a manager to understand concepts, ideas, and principles Conceptual Skills

Principles of Management Excellence 39 Take action. Listen to customers. Encourage employees to act independently. Stress respect. Keep operations under control. Instill commitment to values and objectives. Keep organization simple, flexible, efficient. Keep business focused on what it does best.

Management Styles and Skills Glencoe Entrepreneurship: Building a Business SECTION Chapter 14 Preparing and Planning to Manage 14.2 After You Read 1.Name the three basic management styles. The three basic management styles are power-oriented, routine- oriented, and achievement-oriented.

Management Styles and Skills Glencoe Entrepreneurship: Building a Business SECTION Chapter 14 Preparing and Planning to Manage 14.2 After You Read 2.List the skills needed for managing. The skills needed for managing are human relations, communication, networking, math, problem solving and decision making, technical, time management, and conceptual.

Management Styles and Skills Glencoe Entrepreneurship: Building a Business SECTION Chapter 14 Preparing and Planning to Manage 14.2 After You Read 3.Explain the principles of management excellence. The principles of management excellence are take action rather than overanalyze plans; listen to customers and put yourself in their shoes; encourage employees to act independently, be innovative, and treat the business as if it were their own; stress respect for the individual; instill commitment to values and objectives by staying in touch with employees; keep the business focused on what it does best; keep the organization simple, flexible, and efficient and do not overstaff; and keep operations under control and keep an eye on detail.

Preparing and Planning to Manage Glencoe Entrepreneurship: Building a Business Entrepreneur or Manager? Management Styles and Skills 14.1 Section 14.2 Section 14 End of Chapter 14 Preparing and Planning to Manage