Introduction to Management

1. Introduction to Management Unit 3

2. Overview • What is management? • What is management coordination? • What are objectives? • Management characteristics • Management skills • In the home • In the community • In school • In government • In business/enterprise • Management v Enterprise

3. Management (2006 SQ 3) • Management is the process of setting and achieving objectives by making the best use of people, time, money and equipment. • A manager (CEO) or (MD) is responsible for the overall day to day running of the business.

4. Co-ordination (2001 SQ 4) • Managers must ensure that all parts of an organisation is working towards a common goal. • Everyone needs to be aware of the overall objectives. • Good managers ensures that the plans and activities of each section fits in with each other.

5. What is an Objective? • An objective is a target to be achieved some time in the future. • Business Example: Increase sales by 10% in the next year • Personal Example: Get an A1 in Business in the Leaving Certificate!!

6. A general objective • Is a mission statement. • It gives an outline of the overall aims of the organisation. • Example: Pfizer’s mission is to apply science and our global resources to improve health and well-being at every stage of life

7. A specific objective • A statement of a more narrow and defined target. • Example: The company will increase the workforce by 10% this year.

8. Tactical Objective • A short to medium term goal. • It will take 1 to 5 years to achieve. • Example: increase sales by 20% within three years

9. Strategic Objective • A long term goal. • It will take 5 to 20 years to achieve. • Example: expand internationally by opening 20 shops around the world.

10. Management Terms • Effectiveness • Efficiency • Productivity

11. Management Terms • Effectiveness – measure the success of the business in achieving it’s objective • Efficiency – a business is efficient when it uses the least amount of resources to achieve the best results • Productivity – is the relationship between inputs (raw materials) and outputs (finished products • Productivity is high when few inputs generate many outputs • High productivity reduces costs and increases profits

12. Management Characteristics S – S – A – C – H – D – D • Self-motivated • Self-belief • Adaptable • Charismatic • Hard-working • Decisive • Desire for achievement

13. Self-motivated • Managers are self-starters. • They have the initiativeto do things themselves.

14. Self-belief • Managers have confidence in themselves to make decisions and promote their business. • Managers are positive in their approach.

15. Adaptable • Managers must have the innate ability to be flexible and be able to cope with different situations. • They don’t mind moving outside their “comfort zone”. • They don’t mind changeor trying something new.

16. Adaptable

17. Charismatic • Managers must have an air about them that commands respect. • They must be liked by their subordinates if they are to be successful in influencing them to achieve goals.

18. Hard working • Managers must be willing to spend long hours at work. • They should be the first to arrive and the last to leave. • They must lead by example.

19. Hardworking

20. Decisive • Managers must have the intelligence & judgement to make quick and effective decisions. • They must be confident in their own ability to make decisions.

21. Desire for achievement • Managers must have a strong desire to see their business succeed. • They must be willing to put in the effort needed for this.

22. Management Skills • Leadership • Communication • Motivation

23. Leadership • A leader is a person who gives direction by guiding people towards achievieng goals. • They delegate tasks and responsibilities to others in order to involve them, share the work load and reduce stress.

24. Leadership • They coordinate the efforts of staff in each department in order to ensure that harmony and common goals are known achieved. (2001 SQ 4) • They motivate staff by being aware of the factors that entice workers to be more productive.

25. Communication Communication is a management skill that involves the transfer of information from one person to another in a way that it is received and understood.

26. Communication involves being able to: • Read and write in the appropriate language • Speak to individuals and groups • Be aware of the recipient(s) • Stimulate, motivate and negotiate • Listen, filter and absorb • Act on feedback

27. Motivation • Is a management skill that involves persuading people to act in a certain way. • It involves being aware of the factors that lead people to act in a certain way. • Theories of motivation include McGregor’s Theory X and Throry Y and Maslow’s Hierarchy of needs.

28. Management skills in the home • Leaders: Parents/Guardians • Communicate with: Children, school, doctors, banks, friends. • Motivate: children to do house & school work & have healthy lifestyle.

29. Management skills in the community • Leaders = Volunteers • Communicate with: Businesses, voluntary groups, government agencies. • Motivate: Government to give grants, businesses to give sponsorship, locals to give free time.

30. Management skills in school • Leaders: Principal & Deputy Principal • Communicate with: Teachers, students, parents, HSE, doctors. • Motivate: Teachers & students to work hard, parents to support children, fundraise…

31. Management skills in government • Leaders = Ministers • Communicate with: Civil servants, social partners (IBEC, ICTU, IFA). • Motivate: All social partners to agree on national wage agreements and policies

32. Management skills in business/enterprise • Leaders: Entrepreneurs • Communicate with: Investors, suppliers, customers… • Motivate: Investors to give them money, suppliers to give credit & discount.

33. Similarities between Enterprise & Management Choose three characteristics that are the same and explain each one using a heading and bullet points.

34. Distinguish between Enterprise & Management(2009 SQ 7) • Enterprise is the ability to generate new ideas, identify opportunities and have the confidence, motivation & determination to take an uninsurable risk to turn an idea into reality. • Example: Mark Zuckerberg took the risk to setup Facebook.

35. …whereas… • Management is the process of getting objectives & activities completed efficiently & effectively through the use of human & financial resources on a day to day basis. • Management skills • Leadership, Communication & Motivation. • Management activities • Planing Organising & Controlling. • Example: Manager of a branch of Dunnes Stores

36. Sample Exam Questions Short • 2009 Q 7. Enterprise v management • 2006 Q 3. Management • 2001 Q 4. Co-ordination Long • 2009 Q4 • 2002 Q 4 (Management skills in home, community, government, business start up) • 1999 Q 4 (Letter: management characteristics)

37. Applied Business Questions • 2010 (C): Management Skills • 2004 (C): Management Skills • 1999 (C): Management Skills

38. Recap and Review • What is management? • What is management coordination? • What are objectives? • Management characteristics • Management skills • In the home • In the community • In school • In government • In business/enterprise • Management v Enterprise