2. Copyright © Glencoe/McGraw-Hill Slide 1 of 12 BUSINESS MANAGEMENT Real-World Applications & Connections GLENCOE Section 14.2 Managing Formal Groups Company 3-Minute Perfect Presentations… Competitive Analysis Analysts Opinions Your Choice From Chapter 14

3. Copyright © Glencoe/McGraw-Hill Slide 2 of 12 BUSINESS MANAGEMENT Real-World Applications & Connections GLENCOE Section 14.2 Managing Formal Groups Slide #10 - Ownership Major Holders Insider Transactions Insider Roster Slide #11 - Financials Income Statement Balance Sheet Cash Flow Slide #12 – Why To Invest? Or Why Not Invest?

4. Copyright © Glencoe/McGraw-Hill Slide 3 of 12 BUSINESS MANAGEMENT Real-World Applications & Connections GLENCOE Section 14.2 Managing Formal Groups ORGANIZATION: ORGANIZATION: Excellent: ___ Very Good: ___ Good: ___ Fair: ___ Poor: ___ (Order, provides an understanding, logical, precedes coherently, flow baby…) Comments: PRESENTATION: PRESENTATION: Excellent: ___ Very Good: ___ Good: ___ Fair: ___ Poor: ___ (Poise, body language, eye contact, projection, appearance, movement, tone, expression, etc…) Comments: SLIDES: SLIDES: Excellent: ___ Very Good: ___ Good: ___ Fair: ___ Poor: ___ (Visually attractive, use of appropriate text, images, sight, sound, smells, touch, senses!) Comments: CONTENT: CONTENT: Excellent: ___ Very Good: ___ Good: ___ Fair: ___ Poor: ___ (Appropriate information, clear objectives, adequate data, analysis & summaries, previous accounting knowledge utilized, where all 12 areas covered) Comments:

5. Copyright © Glencoe/McGraw-Hill Slide 4 of 12 BUSINESS MANAGEMENT Real-World Applications & Connections GLENCOE Section 14.2 Managing Formal Groups CREATIVITY: CREATIVITY: Excellent: ___ Very Good: ___ Good: ___ Fair: ___ Poor: ___ (Unique approach to enhance the presentation, audience involvement, style, questions) Comments: TIMING: TIMING: Excellent: ___ Very Good: ___ Good: ___ Fair: ___ Poor: ___ (Time management during presentation, Less or more than10 to 15 minutes?) Comments: OVERALL: OVERALL: Excellent: ___ Very Good: ___ Good: ___ Fair: ___ Poor: ___ (Really, how much effort was placed into this presentation?) Comments: TOTALS:Excellent: ___ Very Good: ___ Good: ___ Fair: ___ Poor: ___ = 7 TOTALS: Excellent: ___ Very Good: ___ Good: ___ Fair: ___ Poor: ___ = 7 (Total each rating option with a score from 0 to 7)

6. Copyright © Glencoe/McGraw-Hill Slide 5 of 12 BUSINESS MANAGEMENT Real-World Applications & Connections GLENCOE Section 14.2 Managing Formal Groups Company 3-Minute Perfect Presentations… #1 - Danielle #2 - Richard #3 - Brian #4 - Liany #5 - Giselle #6 - Anthony M #7 - Chris #8 - Jay #9 - Ross Joe - #10 Jenn - #11 Dan - #12 Amanda - #13 Michael - #14 Omar - #15 Tony - #16 John F - #17 John H - #18 Chase - #19 Michelle - #20

7. Copyright © Glencoe/McGraw-Hill Slide 6 of 12 BUSINESS MANAGEMENT Real-World Applications & Connections GLENCOE Section 14.2 Managing Formal Groups In this section: Formal work groups play an important part in helping an organization meet its goals. This section discusses: The Importance of Formal Work Groups Groups and Leaders

8. Copyright © Glencoe/McGraw-Hill Slide 7 of 12 BUSINESS MANAGEMENT Real-World Applications & Connections GLENCOE Section 14.2 Managing Formal Groups What You’ll Learn The importance of formal work groups. How managers can influence group cohesiveness and conformity. Methods of encouraging teamwork in formal groups. The characteristics of successful group leaders.

9. Copyright © Glencoe/McGraw-Hill Slide 8 of 12 BUSINESS MANAGEMENT Real-World Applications & Connections GLENCOE Section 14.2 Managing Formal Groups Why It’s Important Formal work groups are an important way of organizing work, and managers must help them succeed.

10. Copyright © Glencoe/McGraw-Hill Slide 9 of 12 BUSINESS MANAGEMENT Real-World Applications & Connections GLENCOE Section 14.2 Managing Formal Groups Key Terms linking-pin concept team building idiosyncrasy credit quality circle

11. Copyright © Glencoe/McGraw-Hill Slide 10 of 12 BUSINESS MANAGEMENT Real-World Applications & Connections GLENCOE Section 14.2 Managing Formal Groups The Importance of Formal Work Groups Influencing Work Groups Building Effective Work Groups Quality Circles Managing work groups is one of management’s most important tasks.

12. Copyright © Glencoe/McGraw-Hill Slide 11 of 12 BUSINESS MANAGEMENT Real-World Applications & Connections GLENCOE Section 14.2 Managing Formal Groups Building Effective Work Groups create a group build trust within that group influence group cohesiveness and conformity To build an effective work group, managers must:

13. Copyright © Glencoe/McGraw-Hill Slide 12 of 12 BUSINESS MANAGEMENT Real-World Applications & Connections GLENCOE Section 14.2 Managing Formal Groups Linking-Pin Concept The linking-pin concept is one way of describing management’s role in work groups.

14. Copyright © Glencoe/McGraw-Hill Slide 13 of 12 BUSINESS MANAGEMENT Real-World Applications & Connections GLENCOE Section 14.2 Managing Formal Groups Influencing Group Cohesiveness and Conformity Managers can influence group cohesiveness by: keeping groups small selecting group members carefully finding a good personality fit between new and old employees developing an office layout that improves communication cont.

15. Copyright © Glencoe/McGraw-Hill Slide 14 of 12 BUSINESS MANAGEMENT Real-World Applications & Connections GLENCOE Section 14.2 Managing Formal Groups Influencing Group Cohesiveness and Conformity cont. creating clear goals inspiring group competition rewarding groups rather than individuals isolating groups from each other

16. Copyright © Glencoe/McGraw-Hill Slide 15 of 12 BUSINESS MANAGEMENT Real-World Applications & Connections GLENCOE Section 14.2 Managing Formal Groups Fig 2-1 Quality Circles a type of formal work group employees from a single work unit share ideas on how to improve quality involves employees in decision making is almost always voluntary encourages communication and trust among members and managers provides training as well as a sense of control to workers solves problems

17. Copyright © Glencoe/McGraw-Hill Slide 16 of 12 BUSINESS MANAGEMENT Real-World Applications & Connections GLENCOE Section 14.2 Managing Formal Groups Groups and Leaders 1.The leader of an informal group is chosen because that person is most capable of satisfying the group’s needs. The group gives the leader his or her authority, and the group can take it away. 2.The leader of a formal work group is assigned by upper management. He or she must gain acceptance from the group. 3.Rather than directing group members, the leader of a formal work group encourages team spirit and participation.

18. Copyright © Glencoe/McGraw-Hill Slide 17 of 12 BUSINESS MANAGEMENT Real-World Applications & Connections GLENCOE Section 14.2 Managing Formal Groups Fact and Idea Review 1.Why are work groups important? 2.What two things attract employees to formal work groups? 3.Why is trust essential in a group? 4.Describe two methods managers can use to encourage group participation.