MANGMT 1010 1st Edition Lecture 2ManagementOpportunities for leadership by non-supervisory employees-Increased competition and more demanding customers-Loosening of formal organizational structures-Fewer, busier managers-Predominance of the knowledge worker-Growing focus on projects and teams Required Management Skills1. Technical Skills-Deal with Industry, function, specific duties 2. Human Relations Skills-Face-to-face interaction3. Conceptual Skills-Problem solvingManagement Function1. Planning-Strategic -Operational-Contingency2. Organizing 3. Leading4. ControllingPlanning: Create Vision-Set vision, goals, and objectiveGoals- Broad, Long-TermObjective- Short-Term, SpecificStrategic Planning-Situation audit (External/internal analysis)-External environmentOppurtunities and risksCompetitive analysis-Internal environmentCurrent strategyResourcesOrganizational CapabilitiesImplementation/ControlTrends in Organizing-Self managed teams: Left on their own. Cross-functional-Stakeholders-Staffing: Very Important!-Diversity: More background, more successful solution. EX.) a psych major, english major, business major on a team. Organizational Structure-Tall structure: Supports actions requiring control (e.g., increased production, cost cutting)-Flat Structure: Support rapid change (e.g., development of new product)-CompetenciesCore Competencies: major areas of learning/ expertise within a firm (e.g., Technological development, marketing, cost control)Successful Leadership-Having a vision-Communicating the vision-Corporate values and ethics-Don’t fear change (Change is for the better)Leadership Styles-Autocratic: Directive, authoritative. Ex.) “I made the decision, you do it.”-Democratic: Asks input, provides a higher job satisfaction. EX.) “What would you like?” -Laissez-Faire: Leaves people alone.-Situational: Depends on the situation, determine if it needs managing or not. (Most effective)-Empowerment: Giving people authority and responsibility to get the job done. Controlling-Set Standards- Specific- Attainable- Measurable- Procedures for monitoring-Monitor/Record- Compare plan and standards to results- Communicate to employees- Corrective actionTips for new managers- Be objective - Listen to your employees- Be the model- Be willing to delegate- Respect your employees- Develop employees trust- Audit performance- Recognize your