Quiz 1 Miler Case Study introduction What is a case A case is a written description of a business situation or problem It generally provides factual information about a company s background which often includes organizational or nancial data The teaching of case analysis was developed by the Harvard Business School in the 1920 s A case raises contemporary issues and includes information to analyze from a business perspective Often included in a case Information outside the immediate company Sociocultural Political Legal Technological Comparative Environments These are used to give a better understanding of the circumstances surrounding the situation Case Analysis When analyzing a case you should assume the role of the challenged individual in the case and react as you believe that person should best remedy the problem There is never a single solution nor a right or wrong answer Come up with multiple recommendations on how to solve the problem and choose the best alternative with a justi cation on why Not always will you have all of the information needed for a good decision but the but a decision must be made with the information available at the time Later when more information becomes available it may appear that the decision was not the best Welcome to the real world of business How to approach a case Case Study Methods individual group or collaborative brainstorming role playing Case Study Analysis Form Then choose a recommended solution and justi cation Management and Leadership Management is the planning organizing directing and controlling of products or services through people who are given formal authority to direct supervise and motivate employees to achieve the goal set by an individual or an organization Management Roles and Responsibilities Planning projecting future goals Goals tasks budgets events sales Organizing bringing order or arrangement to a situation or people Scheduling breaking down goals determining jobs Directing giving the directives instructions Leading teaching staf ng instructing informing training assisting motivating communicating Controlling methods employed to track a business and its effectiveness Monitoring gauging setting parameters supervising Organizations are or should be goal directed An organization consists of people with formally assigned roles who work together to achieve stated goals An organizational structure describes how a company is set up and directed and aids in monitoring and managing work Organizational Divisions Operations Merchandising Human Resources Advertising Marketing Promotion Accounting Finance Managing the place site of business Managing the products or services Managing the people Managing the publicity promotion Managing all monetary concerns Types of Managers First line managers entry level supervisors assistants Middle managers department heads managers divisionals buyers Top managers upper level include of cers top executives such as the president and vice president What do Managers do Top managers spend more time planning and setting goals Middle managers translate the goals into specific projects First line managers supervisors direct workers or non managers Supervisors They are usually a first line entry level manager responsible for the conduct of others in the accomplishment of a task A skilled supervisor can take an underperforming or chaotic situation and get it working Leadership Styles Autocratic managers make decision then announce them Democratic managers seek info and opinions then make the decisions Transformational leaders get people to transcend their personal needs for the sake of the group and generate excitement NOT all managers are leaders not all leaders are managers Ex a staff person may be a leader a supervisor may be a leader 3 Major Types of Managerial Skills Technical know how to plan organize and lead in your area of expertise Interpersonal hold knowledge about human behavior group processes motivation and communication Conceptual Are analytical logical use good judgment and are creative Retailer s Desired Skills for Managers Good judgment common sense Demonstrates high energy Relates well with subordinates Sense of urgency Completes tasks in a timely fashion Relates well to management Delegates well motivates others Readily responds to change Establishes priorities well Mature consistent Motivating and Managing Employees Is often a role for the direct manager or supervisor May also be a role for Human Resources Motivation Is the drive to stimulate action Morale the state of enthusiasm and happiness of employees Ways of motivating or building morale Conduct regular meetings to discuss business as well as get employee feedback Educate employees about the firm s finances set achievable goals and have rewards when goals are met Allow ownership responsibility Give and get input from your employees INVOLVE YOUR EMPLOYEES SO THEY FEEL OWNERSHIP Job roles designate the part that an employee plays in an organization Job descriptions spell out the roles and clarify the objectives tasks of the role Job titles designate the roles and responsibilities that a particular positions denotes Long term 5 yrs or more Short term less than 5 yrs Goals Types of Goals Why set goals Employee performance improves when employees feel That their efforts will enable them to achieve the goals set for them by their managers That they ll receive rewards they value if they achieve their goals Organizational Goal Process 1 2 3 4 5 6 Set goals objectives Id the necessary tasks Divide the work into manageable portions or tasks Establish a mechanism plan to coordinate the parts to the whole Monitor or follow up on the work give feedback Evaluate the outcome