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To be an effective manager, one must first excel as a leader. This means understanding human motivation, fostering happy and productive work environments, and effectively directing diverse teams towards common goals. Successful management is not just a science; it’s also an art that requires good leadership. By creating clear job descriptions, offering fair compensation, and promoting mutual trust and respect, managers can help employees realize their full potential. Emphasizing communication, adaptability, and a strong vision fosters an environment where everyone can excel.
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Leadership Prerequisiteto Good Management • Must be a good leader before being a great manager • Good leaders are good followers • Why management an art supported by science
Management Accomplishment of Work Through People • Successful managers need to know: • What motivates human behavior • How to effectively & efficiently organize • Individual talents of employees • Maximize collective value of efforts • How to lead • Accomplish firm’s goals and purpose
Leading PeopleNot Managing Things • Managing Things • Planning • Organizing • Controlling • Leading People • Directing
Motivating a group of people with a variety of talents and needs to accomplish the common goal of implementing the firm’s purpose and objective Directing Directing is Leadership
UnderstandingHuman Motivation Happy workers = greater profits • Happy workers • Productive workers • Happy customers • Greater profits
Maslow’s pyramid of human needs How Work Fills Human Needs Self- Fulfillment Needs Esteem Needs Belonging Needs Safety Needs Physiological Needs
Developing a Work Environment Where Everyone Seeks to Excel • Starting point—firm’s purpose and objective • Define tasks and develop jobs • Develop job descriptions and quantitative performance measures
Manager’s Responsibility Physical Aspects • Clear job description • Fair pay • Proper equipment and training • Clear authority • Fair treatment
Manager’s ResponsibilityGood Leadership • Helps others realize their full potential • Formal mentoring --Annual written performance review --Jointly set performance goals --Goal: Better workers Better future managers
Manager’s ResponsibilityGood Leadership • Informal mentoring • Informal feedback --Controlled failures • Concerned • Outcomes not procedures • Mutual trust and respect • Live it
Leadership Styles • Vary style to fit situation • Theory X or Theory Y • Participatory style • Harder for managers • Bigger benefits
Communication occurs only if An exchange of information And Mutual understanding Communication & Feedback
Management By Objective • Must meet prerequisites • Understand advantages • Not a universal solution
Good Leadership Basis for Good Employee Relationships • Clear Vision • Common Values • Trust • Open, Honesty, and Fairness