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* * Chapter Seven Management and Leadership McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.

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Presentation on theme: "* * Chapter Seven Management and Leadership McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved."— Presentation transcript:

1 * * Chapter Seven Management and Leadership McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.

2 * * Four Functions of Management Management -- The process used to accomplish organizational goals through planning, organizing, leading and controlling people and other organizational resources. WHAT IS MANAGEMENT? LG2 7-2

3 * * Managers’ Roles Are Evolving Younger and more progressive.  Growing numbers of women.  Fewer from elite universities. Emphasis is on teams and team building. Managers need to be skilled communicators and team players. TODAY’S MANAGERS LG1 7-3

4 * * Four Functions of Management 1. Planning 2. Organizing 3. Leading 4. Controlling FOUR FUNCTIONS of MANAGEMENT LG2 7-4

5 * * Planning & Decision Making Vision -- More than a goal, it’s a broad explanation of why the organization exists and where it’s trying to go. SHARING the VISION LG3 7-5

6 * * Planning & Decision Making Mission Statement -- Outlines the organization’s fundamental purposes. It includes:  The organization’s self–concept.  Its philosophy.  Long–term survival needs.  Customer needs.  Social responsibility.  Nature of the product or service. DEFINING THE MISSION LG3 7-6

7 * * Planning & Decision Making Goals -- The broad, long-term accomplishments an organization wishes to attain. Objectives -- Specific, short- term statements detailing how to achieve the organization’s goals. SETTING GOALS and OBJECTIVES LG3 7-7

8 * * Planning & Decision Making What is the situation now? SWOT Analysis -- Analyzes the organization’s Strengths, Weaknesses, Opportunities and Threats. How can we get to our goal from here?  Strategic planning  Tactical planning  Operational planning  Contingency planning PLANNING ANSWERS FUNDAMENTAL QUESTIONS LG3 7-8

9 * * Planning & Decision Making LG3 SWOT MATRIX 7-9

10 * * Planning & Decision Making LG3 PLANNING FUNCTIONS 7-10

11 * * Decision Making: Finding the Best Alternative Decision Making -- Choosing among two or more alternatives. DECISION MAKING LG3 7-11

12 * * Decision Making: Finding the Best Alternative 1. Define the situation. 2. Describe and collect needed information. 3. Develop alternatives. 4. Develop agreement among those involved. 5. Decide which alternative is best. 6. Do what is indicated. 7. Determine whether the decision was a good one and follow up. RATIONAL DECISION-MAKING MODEL LG3 7-12

13 * * Organizing: Creating a Unified System Organization Chart -- A visual device that shows relationships among people and divides the organization’s work; it shows who reports to whom. ORGANIZATIONAL CHARTS LG4 7-13

14 * * Organizing: Creating a Unified System LG4 LEVELS of MANAGEMENT 7-14

15 * * Organizing: Creating a Unified System Top Management -- The highest level, consists of the president and other key company executives who develop strategic plans. Middle Management -- Includes general managers, division managers, and branch and plant managers who are responsible for tactical planning and controlling. Supervisory Management -- Those directly responsible for supervising workers and evaluating daily performance. MANAGEMENT LEVELS LG4 7-15

16 * * Technical Skills -- The ability to perform tasks in a specific discipline or department. MANAGERIAL SKILLS Tasks and Skills at Different Levels of Management LG4 Human Relations Skills -- Skills that involve communication and motivation; they enable managers to work through and with people. Conceptual Skills -- Skills that involve the ability to picture the organization as a whole and the relationship among its various parts. 7-16

17 * * Tasks and Skills at Different Levels of Management LG4 SKILLS NEEDED at VARIOUS LEVELS of MANAGEMENT 7-17

18 * * Staffing: Getting and Keeping the Right People Staffing -- Recruiting, hiring, motivating and retaining the best people available to accomplish the company’s objectives. Recruiting good employees is critical. Many people are not willing to work at companies unless they are treated well with fair pay. STAFFING LG4 7-18

19 * * Leading: Providing Continuous Vision and Values. Leaders must:  Communicate a vision and rally others around that vision.  Establish corporate values.  Promote corporate ethics.  Embrace change.  Stress accountability and responsibility LEADERSHIP LG5 7-19

20 * * Leadership Styles Autocratic Leadership -- Making managerial decisions without consulting others. Participative or Democratic Leadership -- Managers and employees work together to make decisions. Free-Rein Leadership -- Managers set objectives and employees are free to do whatever is appropriate to accomplish those objectives. LEADERSHIP STYLES LG5 7-20

21 * * Empowering Workers Progressive leaders give employees the authority to make decisions on their own without consulting a manager. Customer needs are handled quickly. Manager’s role becomes less of a boss and more of a coach. Enabling -- Giving workers the education and tools they need to make decisions. EMPOWERMENT LG5 7-21

22 * * Managing Knowledge Knowledge Management -- Finding the right information, keeping the information in a readily accessible place and making the information known to every one in the firm. MANAGING KNOWLEDGE LG5 7-22

23 * * Controlling: Making Sure it Works FIVE STEPS of CONTROLLING LG6 7-23

24 * * A Key Criterion for Measurement: Customer Satisfaction Traditional forms of measuring success are financial. Pleasing employees, stakeholders and customers (both internal and external) are important. External Customers -- Dealers, who buy products to sell to others, and ultimate customers (or end users), who buy products for their own use. Internal Customers -- Individuals and units within the firm that receive services from other individuals or units. MEASURING SUCCESS LG6 7-24

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