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Management

Management. McGraw-Hill/Irwin Principles of Management . © 2008 The McGraw-Hill Companies, Inc., All Rights Reserved. 1. chapter. Describe the basic functions of management Identify where in an organization managers are located

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Management

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  1. Management McGraw-Hill/Irwin Principles of Management © 2008 The McGraw-Hill Companies, Inc., All Rights Reserved. 1 chapter

  2. Describe the basic functions of management Identify where in an organization managers are located Discuss the challenges people encounter as they become first-line managers Describe the roles managers adopt to perform the basic functions of management Outline the competencies managers must have to be effective Learning Objectives

  3. Management: The art of getting things done through people in the organization Managers give organizations a sense of purpose and direction Managers create new ways of producing and distributing goods and services Managers change how the world works through their actions Management and Managers

  4. Leaders versus Managers Source: Adapted from “Leadership versus management: What’s the difference?”, The Journal for Quality and Participation, 2006

  5. Functions of Management Planning & Strategizing Controlling Organizing Leading & Developing

  6. Planning – a formal process whereby managers choose goals, identify actions, allocate responsibility for implementing actions, measuring the success of actions, and revising plans Planning is used to develop overall strategies A strategy is an action that managers take to attain the goals Planning goes beyond strategy development to include the regulation of a wide variety of organizational activities Strategizing – the process of thinking through on a continual basis what strategies an organization should pursue to attain its goals Planning & Strategizing

  7. Who Makes the Strategic Decisions? Source: Improving Strategic Planning: A McKinsey Survey, The McKinsey Quarterly, September 2006

  8. Organizing involves deciding: Who will perform the task? Where will decisions be made? Who reports to whom? How will different parts of the organization fit together to accomplish the common goal? Organizing

  9. The process of monitoring performance against goals, intervening when goals are not met, and taking corrective action First step – Drafting plans Important aspect is creating incentives that align employees’ and organization’s interests Controlling

  10. Performance Bonuses Health Benefits Performance-based Time Off Education and Learning Recognition and Awards Retirement Planning and 401(k) Promotion Child Care and Elder Care Assistance Benefits & Incentives

  11. Leading – is the process of motivating, influencing, and directing others in the organization to work productively in pursuit of organization goals. Developing employees – the task of hiring, training, mentoring, and rewarding employees in an organization, including other managers. Leading & Developing

  12. Drive strategic thinking Have a plan for organization Proactively structure the organization Exercise control with a deft hand Use the right kind of incentives Get the best out of people Build a high-quality team Skilled Leaders:

  13. Steve Jobs, Apple, Pixar Alan Mulally, Boeing Commercial Airplanes Terry Semel, Yahoo! A.G. Lafley, Procter & Gamble Kim Shin Bae, SK Telecom America’s Best Leaders Source: Best of 2005, Business Week, December 19, 2005

  14. Question • Are the functions of management only for managers in organizations or can they apply to you as a student as well? Explain.

  15. General Managers Functional Managers Frontline Managers Types of Managers

  16. Dr. John Alexander is the Chair of the Management Department at Global University with their main campus in New York, USA. The President of the university is Dr. Kim Kerry. John can be described as a ________ manager whereas Kim is a _______ manager. general; functional frontline; general functional; frontline general; frontline Question

  17. Multi-divisional Management Hierarchy Corporate-level general managers Business-level general managers Functional managers Frontline managers

  18. From Specialist to Manager Journey begins when people are successful at a specialist task that they were hired to do Need to be able to get things done through other people Mastering the Job Tends to be a large difference between expectations and reality Workload is tremendous Biggest challenge within the first year = “People challenges” Becoming a Manager

  19. Management Roles Interpersonal roles Leader Figurehead Liaison Negotiator Managerial roles Monitor Resource Allocator Disseminator Disturbance handler Spokesperson Informational roles Decisional roles Entrepreneur

  20. Roles that involve interacting with other people inside and outside the organization Management jobs are people-intensive Interpersonal roles: Figureheads: Greet visitors, Represent the company at community events, Serve as spokespeople, and Function as emissaries for the organization Leader: Influence, motivate, and direct others as well as strategize, plan, organize, control, and develop Liaison: Connect with people outside their immediate unit Interpersonal Roles

  21. Collecting, Processing and Disseminating Roles: Monitor, disseminator, and spokesperson Informational Roles

  22. Whereas interpersonal roles deal with people and informational roles deal with knowledge, decisional roles deal with action Decisional roles: Entrepreneur: Managers must make sure their organizations innovate, change, develop, and adopt Disturbance handler: Addressing unanticipated problems as they arise and resolving them expeditiously Resource allocator: How best to allocate scarce resources Negotiator: Negotiation is continual for managers Decisional Roles

  23. Decisional Roles: After September 11 attacks, Mulalley had to renegotiate delivery of some 500 airplanes Cut jet production by more than half Fire 27,000 workers During the downturn, he focused on cutting waste and streamlining his airplane production lines He then bet the company’s future on a set of new technologies that are now turning Boeing’s super efficient 787 Dreamliner into the hottest-selling new jetliner in history Alan Mulalley, CEOBoeing Commercial Airplanes Source: Best of 2005, Business Week, December 19, 2005

  24. Management Competencies Motivational Preferences Values Skills Includes

  25. Managerial Skills Conceptual Skills Technical Skills Human Skills

  26. Managerial Values • Enacted Values • Espoused Values • Shared Values • Ethical Values

  27. Desire to Compete Desire to Exercise Power Desire to be Distinct Desire to Take Action Managerial Motivation

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