Management a practical introduction 3rd kinicky chapter 01

Chapter 1: The Exceptional ManagerWhat You Do, How You Do It Rewards Six Challenges Four Functions Levels & Areas of Management Roles Managers Play Entrepreneurship Skills Manager

Chapter 1: The Exceptional Manager

What You Do, How You Do It

Rewards

Six Challenges

Four Functions

Levels & Areas of Management

Roles Managers Play

Entrepreneurship

Skills Managers Need

1.1 Management: What It Is, What Its

Benefits Are

Management is defined as

1) the pursuit of organizational goals efficiently and effectively by

2) integrating the work of people through

3) planning, organizing, leading, and controlling the organization’s resources (four functions of management)

1.1 Management: What It Is, What Its

1.1 Management: What It Is, What Its

1.1 Management: What It Is, What Its

multiplied beyond what could be achieved by

someone acting alone

The rewards of being an exceptional manager

typically include good salaries and many benefits

1.1 Management: What It Is, What Its

Benefits Are

You can benefit from studying and practicing management by

 learning how to deal with organizations from the outside

 understanding how to relate to supervisors and how to

interact with coworkers

 understanding how to manage yourself in the workplace

 experiencing a sense of accomplishment

 stretching your abilities and magnifying your range of

accomplishments

building a catalog of successful products or services

Chapter 1: The Exceptional Manager

CLASSROOM PERFORMANCE SYSTEM

Which of the following is not a reward from studying

management?

A) building a catalog of successful products or services B) understanding how to relate to supervisors

C) understanding how to interact with coworkers

D) understanding how to deal with organizations from the

outside

1.2 Six Challenges To Being

A Star Manager

To be a star manager, you need to

1 manage for competitive advantage

2 manage for diversity in race, ethnicity, gender,

and so on

3 manage for the effects of globalization

4 manage for the effects of information technology

5 manage to maintain ethical standards

6 manage for the achievement of your own

happiness and lifetime goals

1.2 Six Challenges To Being

A Star Manager

CHALLENGE #1: MANAGING FOR COMPETITIVE ADVANTAGE—STAYING AHEAD OF RIVALS

Competitive advantage is the ability of an

organization to produce goods or services more

efficiently than competitors do, thereby outperforming them

1.2 Six Challenges To Being

Chapter 1: The Exceptional Manager

CLASSROOM PERFORMANCE SYSTEM

In order to stay ahead of rivals, firms need to be better at all of the following except

A) innovation

B) implementation

C) efficiency

D) quality

1.2 Six Challenges To Being

A Star Manager

CHALLENGE #2: MANAGING FOR DIVERSITY—THE FUTURE WON’T RESEMBLE THE PAST

In the future, managers will be challenged to

maximize the contributions of employees that are diverse in gender, age, race, and ethnicity

1.2 Six Challenges To Being

1.2 Six Challenges To Being

A Star Manager

CHALLENGE #4: MANAGING FOR INFORMATION TECHNOLOGY

Managing the Internet (the global network of

independently operating but interconnected

computers, linking hundreds of thousands of smaller networks around the world) is perhaps the biggest information technology challenge for managers

1.2 Six Challenges To Being

A Star Manager

E-commerce (electronic commerce—the buying and selling of goods or services over computer

networks) is changing the way entire industries work

Information technology has facilitated e-business

(using the Internet to facilitate every aspect of

running a business), e-mail (text messages and

documents transmitted over a computer network) and project management software (programs for

planning and scheduling the people, costs, and

resources to complete a project on time)

1.2 Six Challenges To Being

A Star Manager

Thanks to new technologies, employees may

telecommute (work from home or a remote location using a

variety of information technologies)

 use videoconferencing video and audio links along with

computers that let people in different locations see, hear, and talk with one another)

 engage in collaborative computing (state-of-the-art

computer software and hardware that helps people work

1.2 Six Challenges To Being

A Star Manager

CHALLENGE #5: MANAGING FOR ETHICAL

STANDARDS

Pressure to meet sales, production, and other

targets can create ethical dilemmas for managers

CHALLENGE #6: MANAGING FOR YOUR OWN HAPPINESS AND LIFE GOALS

Managers need to consider whether meeting the organization’s challenges is also personally fulfilling

1.3 What Managers Do:

The Four Principal Functions

WHAT MANAGERS DO: THE FOUR PRINICPAL FUNCTIONS

Four functions: planning, organizing, leading, and controlling make up the management process

1.3 What Managers Do:

The Four Principal Functions

Figure 1.1: The Management Process

1.3 What Managers Do:

The Four Principal Functions

Figure 1.1: The Management Process

1.3 What Managers Do:

The Four Principal Functions

Planning is setting goals and deciding how to

achieve them

Organizing involves arranging tasks, people, and other resources to accomplish work

Leading is defined as motivating, directing, and

otherwise influencing people to work hard to achieve the organization’s goals

Controlling involves monitoring performance,

comparing it with goals, and taking corrective action

as needed

1.4 Pyramid Power: Levels &

While the traditional management structure is a

pyramid-like model with the CEO at the top and

layers of managers below, the model of the future is more like an orchestra where workers are the

musicians, and their manager is the conductor

1.4 Pyramid Power: Levels &

Areas of ManagementFigure 1.2: The Levels and Areas of Management

1.4 Pyramid Power: Levels &

Areas of Management

Chapter 1: The Exceptional Manager

CLASSROOM PERFORMANCE SYSTEM

Which of the following is not one of the four

1.4 Pyramid Power: Levels &

Areas of Management

Top managers make long-term decisions about the overall direction of the organization and establish the objectives, policies, and strategies for it

Middle managers implement the policies and plans

of the top managers above them and supervise and coordinate the activities of the first-line managers

below them

First line managers make short-term operating

decisions, directing the daily tasks of non-managerial personnel

1.4 Pyramid Power: Levels &

Areas of Management

AREAS OF MANAGEMENT: FUNCTIONAL

MANAGERS VERSUS GENERAL MANAGERS

Organizations are run by two types of managers:

functional managers are responsible for just one organizational activity for example Director of

Finance

general managers are responsible for several

organizational activities like Executive Vice President

1.4 Pyramid Power: Levels &

Areas of Management

There are three types of organizations:

for-profit organizations are formed to make money

by selling products or services

not-for-profit organizations (ex The Red Cross)

offer services without making a profit for its owners

mutual-benefit organizations like trade associations advance members’ interests

Managers perform the same management

functions regardless of the type of organization

1.5 Roles Managers Must Play Successfully

Research shows that

managers rely more on verbal than on written

communication

managers work long hours at an intense pace

managers’ work is characterized by fragmentation, brevity, & variety

1.5 Roles Managers Must Play Successfully

To be successful, managers must be able to play

three roles:

interpersonal roles (figurehead, leader, and liaison) involve managers interacting with people inside and outside their work units

informational roles (monitor, disseminator, and

spokesperson) require managers to receive and

communicate information

decisional roles (entrepreneur, disturbance

handler, resource allocator, and negotiator) require managers to make decisions to solve problems or take advantage of opportunities

Chapter 1: The Exceptional Manager

CLASSROOM PERFORMANCE SYSTEM

Which of the following is an informational role?

A) entrepreneur

B) liaison

C) monitor

D) negotiator

1.6 The Entrepreneurial SpiritTHE ENTREPRENEURIAL SPIRIT

Entrepreneurship is the process of taking risks to

create a new enterprise

An entrepreneur is someone who sees a new

opportunity for a product or service and launches a business to try to realize it

An intrapreneur is someone who works inside an

existing organization who sees an opportunity for a product or service and mobilizes the organization’s

1.6 The Entrepreneurial SpiritHow Do Entrepreneurs & Managers Differ?

 Entrepreneurs start businesses, managers grow or maintain

businesses

Both entrepreneurs and managers

 -have a high need for achievement

 -believe in personal control of destiny

 -have high energy levels and an action orientation

 -have a high tolerance for ambiguity

Entrepreneurs more than managers

 -have high self confidence and tolerance for risk

1.7 The Skills Star Managers NeedTHE SKILLS STAR MANAGERS NEED

Good managers need to have

technical skills -the ability to perform a specific job

conceptual skills -the ability to think analytically and

human skills -the ability to interact with others

1.7 The Skills Star Managers NeedToday, companies want managers with

-the ability to motivate and engage others

-the ability to communicate

-work experience outside the U.S

-high energy levels to meet the demands of global travel and a 24/7 world

Chapter 1: The Exceptional Manager

CLASSROOM PERFORMANCE SYSTEM

Which of the following is not one of the three skills managers should cultivate?

A) technical skills

B) entrepreneurial skills

C) conceptual skills

D) human skills