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MANAGEMENT Definition. Pg 8 A process

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  • 1. MANAGEMENT • Definition. Pg 8 – A process – Use of resources – A goal or goals – With other functions and people 14 – Continuous innovations and improvement 22 – Managing strategically 7 • Modern Trends 5-6 – Dynamic change – Technology – Globalization – Diversity of workers and markets 1
  • 2. MANAGEMENT What managers do 1. Achieving Objectives/Goals 2. Functions of Management 25 3. Various roles managers play 26 4. Efficient Use of Resources (see later slide) 5. Skills managers need 32 2
  • 3. Function of Management (Process of Management) 25 Planning Organizing Directing/ Leading Control 3
  • 4. Managerial Roles Mintzberg 26 • Interpersonal roles – Figurehead, Leader, Liaison • Informational roles – Monitor, Disseminator, Spokesperson • Decisional Roles – Entrepreneur, Disturbance Handler, resource Allocator, Negotiator • Do roles vary across levels of managers ? Across industries? In manufacturing and services ? In different countries ? 4
  • 5. Two Measures of Managerial Work • Effectiveness: Achieving objectives, goals • Efficiency: Managing resources OUTPUT INPUT (OM chapters will call this Productivity) 5
  • 6. Efficiency Team A Team B Target Tickets 200 150 250 Sold $ Spent 100 50 Efficiency 200/100 150/50 6
  • 7. Levels of Management Planning Planning Horizon Type Skills (32) TOP Long Strategic Conceptional Medium Tactical Human MIDDLE FIRST Short Operational Technical LEVEL 7
  • 8. Introduction to Operations Management K pg. 188 • Production of products or services 190 • Using processes 190, • The process view of the organization 191 – Adding value. Value chain 197 – Core and support processes • Manufacturing v. Services 193 • Trends: Productivity and quality improvement, 199; global competition, technology, ethical-environmental- diversity issues 8
  • 9. OPERATIONS MANAGEMENT • What operations managers do – Setting objectives (also called “competitive priorities”) Then, – Planning operations – Organizing activities and resources – Directing/Leading workers – Operations control (monitoring) 9
  • 10. Social Responsibility and Ethics M Chapter 5 • Difference 161 – Ethics: morality and standards of business conduct – SR: organizations obligations to shareholders, employees, customers, society • Overlapping: Spectrum of SR includes ethical responsibility – SR: Economic, Legal, Ethical, Discretionary – Efficiency and SR perspectives 172 • Relevance to managers 45 – Increased concern, Increase in enforcement, Corporate and director liability, Customer preferences, Employee morale 10
  • 11. Social Responsibility and Ethics • What organization do: – Leadership, compliance officers 169 – Code of ethics/Standards of Conduct 164; Policies; Values Statements – Structures: compliance committees – Rewards (whistle-blowing) and punishments 168 – Training 167 – Self reporting 11
  • 12. Planning M Chapter 8 • Why is planning important ? – Legitimacy, Source for motivation/commitment, Guides to action/decisions, Performance standards • Organizational levels 273 – Corporate, Business, Functional • Type of plans by level 270 – Strategic, Tactical, Operational • Setting objectives 279 – Principles 288 MBO 291 • Planning Process 275 – Analyze environment incl. Forecasting, Set objectives, Determine requirements, Assess resource availabilities, Develop action plans, Implement 12 action plans, Monitor.
  • 13. Strategic Management M Chapter 6 • Why do SM ? – To gain competitive advantage 194 – Characteristics of a competitive advantage 194- • SM Process 197 – Environmental analysis • External Environment; Internal Environment – Strategy Formulation • Mission and LT objectives, Situation analysis, Corporate-business- functional strategies – Strategy Implementation • Policies, Action Plans (Programs), Budgets – Evaluation and Control 13
  • 14. STRATEGIC MANAGEMENT FORMULATING STRATEGY EXT. ENVT. MISSION OBJECTIVES SITUATION INT. ENVT. ANALYSIS STRATEGY 14
  • 15. EXTERNAL ENVIRONMENT 204 • ECONOMY • POLITICAL-LEGAL • SOCIO-CULTURAL • TECHNOLOGY • GLOBAL/INTERNATIONAL • COMPETITION • CUSTOMERS • SUPPLIERS 15
  • 16. INTERNAL ENVIRONMENT 205 • Value Chain/Resource based approach – Functional area resources 205- • Core competencies 209 • Organization structure – Dividing work, Authority & Responsibility, Information flow, decision making • Corporate culture – social responsibility and ethics, integration and intensity of competitive priorities 16
  • 17. Mission and LT Objectives • Mission 198- – Mission statements. Purpose. Content – Compare with Vision and Values Statements • LT (Strategic ) Objectives 199 17
  • 18. Integrating Internal and External Analysis (Situation Analysis) 1. SWOT ANALYSIS 214 2. PORTFOLIO ANALYSIS 211 3. INDUSTRY/ COMPETITION ANALYSIS 4. PRODUCT LIFE CYCLE ANALYSIS 209 18
  • 19. ALTERNATIVE STRATEGIES BY LEVEL CORPORATE GROWTH STABILITY RETIREMENT LEVEL(GRAND) BUSINESS COST LEADERSHIP DIFFERENTIATION LEVEL: 200 FOCUS Generic strategies for competitive advantage. Also called “Competitive Priorities”: Cost/Price, Quality, Availability/ Dependability/Service/Speed, Flexibility/Variety FUNCTIONAL OPERATIONAL STRATEGY LEVEL: 19
  • 20. GROWTH STRATEGIES CONCENTRATION DIVERSIFICATION VERTICAL INTEGRATION ACQUISITIONS & MERGERS 20
  • 21. OPERATIONS STRATEGY (Class discussion, later in an OM chapter ) PRODUCTS/SERVICES PROCESS TECHNOLOGY QUALITY WORK FORCE FACILITIES SUPPLIERS/VERTICAL INTEGRATION 21
  • 22. STRATEGY IMPLEMENTATION POLICIES & PROCEDURES PROGRAMS BUDGETS 287 22
  • 23. MANAGEMENT CONTROL M Chapter 16 • Definition 568 • Meaning – monitoring • Basic Process 570 – Establish standards, measure performance, compare and analyze, corrective action if necessary • Scope of Control in an Organization – Strategic, tactical, operational controls 577 – Operational Controls: Preliminary, concurrent, feedback controls 589 – Examples: budgetary control, quality control, process control, HR measures 580- • Principles of effective control 590 – Focus, amount, quality of information, flexibility, timeliness 23