Chapter 7 Management and Leadership Managers Roles are Evolving Managers today emphasize teams and team building Guide train support motivate and coach employees rather than tell them what to do Management in the future will demand a person who is a skilled communicator and team player as well as a planner organizer motivator and leader o Future managers will need to be more globally prepared adaptability foreign language skills ease in other cultures Get employee s objectives to match company s Current CEO of Xerox Whole Foods The Four Functions of Management p182 chart Management the process used to accomplish organizational goals through planning organizing leading and controlling people and other organizational resources Four functions planning organizing leading controlling o Planning a management function that includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives Key management function bc accomplishing the other functions depends on having a good plan o Organizing A management function that includes designing the structure of the organization and creating conditions and systems in which everyone and everything work together to achieve the organization s goals and objectives Pleasing the customer at a profit o Leading Creating a vision for the organization and guiding training coaching and motivating others to work effectively to achieve the organization s goals and objectives Trend is to empower employees giving them as much freedom as possible to become self directed and self motivated o Controlling A management function that involves establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives rewarding people for doing a good job and taking corrective action if they are not Planning and Decision Making Make sure all employees know company s goals and objectives o Goals specific and quantifiable Don t change company s goals based on outcomes of company makes data collection Compare company to company by comparing market share Always have a backup plan contingency plan difficult bc you don t know what the future demand is going to be Planning is needed when facing customer demand changes Vision an encompassing explanation of why the organization exists and where it s trying look bad to head Chapter 7 Management and Leadership o Gives an organization a sense of purpose and a set of values that unite workers in a common destiny Mission statement an outline of the fundamental purposes of an organization becomes the foundation for setting specific goals should address o The organization s self concept o Its philosophy o Long term survival needs o Customer needs o Social responsibility o Nature of the product of service Goals the broad long term accomplishments an organization wishes to attain often a Objectives specific short term statements detailing how to achieve the organization s team process goals What is the situation now o SWOT Analysis analyzes the organization s strengths weaknesses opportunities and threats it faces Opportunities and threats are often external to the firm and cannot always be anticipated Weaknesses and strengths are more often internal and more within reach How can we get to our goal from here of being measured and fixed 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 Policies broad guidelines for action Strategies determine the best way to use resources Top managers decide which customers to serve when to serve them what products or services to sell and the geographic areas in which to compete 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 Made by managers or teams of managers at lower levels of the Plans can include setting annual budgets and deciding on other activities necessary to meet strategic objectives o Operational planning the process of setting work standards and schedules necessary to implement the company s tactical objectives Focuses on specific supervisors department managers and individual organization employees Department manager s tool for daily and weekly operations 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 Finding the Best Alternative Decision Making choosing among two or more alternatives Rational decision making model a series of steps managers often follow to make logical intelligent and well founded decisions Chapter 7 Management and Leadership o Define the situation o Describe and collect needed information o Develop alternatives o Develop agreements among those involved o Decide which alternative is best o Do what is indicated begin implementation o Determine whether the decision was a good one and follow up If you have plenty of time go through the steps If not make a quick decision Problem solving the process of solving the everyday problems that occur It is less formal than decision making and usually calls for quicker action o Problem solving teams two or more workers assigned to solve a specific problem o Problem solving techniques Brainstorming Coming up with as many solutions to a problem as possible in a short period of time with no censoring of ideas PMI listing all the pluses for a solution in one column all the minuses in another and the implications in a third column Cost benefit analysis when making a decision o Costs in money and how much we will gain from this in money o Add up costs and benefits expected outcome Own your decisions what am I going to do if something happens all of a sudden Organizing Creating a Unified System p 188 Organizing involves allocating resources assigning tasks and establishing procedures Organization chart a visual device that shows relationships among people and divides the organization s work it shows who reports to whom o Top management Highest level of management consists of the president and other key company executives who develop strategic plans CEO COO CFO CIO CKO CEO responsible for all top level decisions introducing change into an organization also chairman of the board of directors COO responsible for putting those changes into effect structuring work controlling operations and rewarding
View Full Document
Unlocking...