Unformatted text preview:

Chapter 7: Management and LeadershipManagers Roles Are Evolving - Emphasize team building, guide, train, support, motivate, coach - A skilled communicator, team player, planner, organizer, motivator, leaderThe Four Functions of Management- Management: the process used to accomplish organizational goals through planning, organizing, leading and controlling people and other organizationalresources - Planning: a management function that includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectiveso Major objective: please customerso Planning teams help monitor the environment, find business opportunities, and watch for challengeso Setting organizational goals, developing strategies to reach these goals, determining resources needed, setting precise standards- Organizing: a management function that includes designing the structure of the organization and creating conditions and systems in which everyone and everything works together to achieve the organization’s goals and objectives o Many organization are being designed around pleasing the customer at a profit; therefore must remain flexible and adaptable - Leading: creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organizations goals and objectives - Controlling: a management function that involves establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives, rewarding ppl for doing a good job, and taking corrective action if they are not Planning and Decision Making- Vision: an encompassing explanation of why the organization exists and where its trying to head; gives the organization a set of values and a sense of purpose that unit workers - Mission statement: an outline of the fundamental purposes of an organization o The organization’s self concept, its philosophy, long term survival needs, customer needs, social responsibility, nature of the product/service- Goals: the broad, long term accomplishments an organization wishes to attain- Objectives: specific, short term statements detailing how to achieve the organization’s goals- What is the situation now?o SWOT analysis: a planning tool used to analyze an organization’s strengths, weaknesses, opportunities, and threats- How can we get to our goal from here?o Strategic planning: the process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals; done by top managers o Tactical planning: the process of developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done o Operational planning: the process of setting work standards and schedules necessary to implement the company’s tactical objectives o Contingency planning: the process of preparing alternative courses of action that may be used if the primary plans don’t achieve the organization’s objectives - Decision making: choosing among two or more alternatives o Rational decision making model: a series of steps managers follow to make logical, intelligent and well-founded decisions  Define the situation, describe/collect needed information, develop alternatives, develop agreement among those involved, decide which alternative is best, do what is indicated, determine whether the decision was a good one and follow up o Problem solving: the process of solving the everyday problems that occur; less formal than decision making and usually calls for quicker action  Brain storming: coming up with as many solutions to a problem as possible in a short period of time with no censoringof ideas  PMI: listing all the pluses for a solution in 1 column, all the minuses in another, and the implications in a third Organizing: Creating a Unified System- After planning, an organization must allocate resources, assign tasks and establish procedures- Organization chart: a visual device that shows relationships among ppl and divides the organization’s work; it shows who reports to whom- Top management: highest level of management, consisting of the president and other key company executives who develop strategic plans o CEO: chief executive officer; introduce changeo COO: chief operating officer; put changes into effecto CFO: chief financial officer; obtains funds, plans budgetso CIO/CKO: chief information officer/chief knowledge officer; gets the right info to other managers so they can make correct decisions- Middle management: the level of management that includes general managers, division managers, and branch and plant managers who are responsible for tactical planning and controlling- Supervisory management: managers who are directly responsible for supervising workers and evaluating their daily performance - Managers must have 3 categories of skillo Technical skills: skills that involve the ability to perform tasks in a specific discipline or department o Human relations skills: skills that involve communication & motivation; they enable managers to work through and with pplo Conceptual skills: skills that involve the ability to picture the organization as a world and the relationship among its various parts - Staffing: a management function that includes hiring, motivating, and retaining the best ppl available to accomplish the company’s objectives Leading: Providing Continuous Vision and Values- Communicate a vision and rally others around that vision- Establish corporate values- Promote corporate ethics- Embrace change- Stress accountability and responsibility o Transparency: the presentation of a company’s facts and figures in a way that is clear and apparent to all stakeholders - Autocratic leadership: leadership style that involves making managerial decisions without consulting others - Participative/democratic leadership: leadership style that consists of managers and employees working together to make decisions- Free-rein leadership: leadership style that involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives - Directing: telling workers what to do to meet the goals of the organization (ex: fast food restaurants b/c workers are unskilled)- Empowerment: means giving employees the authority to make a decision without consulting the manager - Enabling: giving workers the education and tools they need to make


View Full Document

UMD BMGT 110 - Chapter 7: Management and Leadership

Documents in this Course
Notes

Notes

3 pages

Chapter 3

Chapter 3

17 pages

Business

Business

10 pages

Chapter 3

Chapter 3

23 pages

Exam 1

Exam 1

9 pages

Final

Final

11 pages

CHAP. 1

CHAP. 1

89 pages

Chapter 1

Chapter 1

90 pages

People

People

2 pages

Ethics

Ethics

1 pages

Chapter 1

Chapter 1

92 pages

Chapter 1

Chapter 1

91 pages

Load more
Download Chapter 7: Management and Leadership
Our administrator received your request to download this document. We will send you the file to your email shortly.
Loading Unlocking...
Login

Join to view Chapter 7: Management and Leadership and access 3M+ class-specific study document.

or
We will never post anything without your permission.
Don't have an account?
Sign Up

Join to view Chapter 7: Management and Leadership 2 2 and access 3M+ class-specific study document.

or

By creating an account you agree to our Privacy Policy and Terms Of Use

Already a member?