Chapter 7: Management

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14th edition

14th edition

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  • 1. Chapter 7 Management, Leadership, and the Internal Organization
  • 2. Learning Goals1 Define management and the three types 5 Contrast the types of business of skills necessary for managerial decisions and list the steps in the success. decision-making process.2 Explain the role of vision and ethical 6 Define leadership and compare standards in business success. different styles of leadership.3 Summarize the benefits of planning and 7 Discuss the meaning and distinguish strategic, tactical, and importance of corporate culture. operational planning. 8 Identify the five major forms of4 Describe the strategic planning process. departmentalization and four main types of organization structures.
  • 3. W is Management? hats Management is the process of achieving organizational objectives through people and other resources.
  • 4. Top Managements Develop long-range strategic plans for the organization.s Inspire executives and employees to achieve their vision for the company’s future.
  • 5. Middle Managements Focus on specific operations, products, or customer groups within an organization.s Responsible for developing detailed plans and procedures to implement the firm’s strategic plans.
  • 6. Supervisory Managements Implement the plans developed by middle managers.s Responsible for non- manager employees.s Motivate workers to accomplish daily, weekly, and monthly goals.
  • 7. Skills Needed for Management Successs Technical skills s Manager’s ability to understand and use the techniques, knowledge, and tools and equipment of a specific discipline or department.s Human skills s Interpersonal skills that enable a manager to work effectively with and through people.s Conceptual skills s Ability to see the organization as a unified whole and to understand how each part of the overall organization interacts with other parts.
  • 8. Managerial FunctionsPlanning Controlling s Process of anticipating s Evaluating an future events and organization’s conditions and determining performance to courses of action for determine whether it is achieving organizational accomplishing its objectives. objectives.Organizing s Blending human and 3. Establish performance material resources through standards. a formal structure of 4. Monitor actual authority. performance.Directing 5. Compare actual performance with s Guiding and motivating established standards. employees to accomplish organizational objectives. 6. Take corrective action if required.
  • 9. Setting a Vision and Ethical Standardss Vision is the perception of marketplace needs and the methods an organization can use to satisfy them. s Must be focused yet adaptable to changes in the business environment.s Long-term success is also tied to the ethical standards that the top management team sets. s High ethical standard can also encourage, motivate, and inspire employees to achieve goals. s Ethical company list
  • 10. Importance of Plannings There are different types and levels of plans.s Organizations should have a comprehensive planning framework. s From mission statement to objectives and goals s Narrow functional planss Plans outline the steps the company will take to meet outlined goals and objectives.
  • 11. Planning at Different OrganizationalLevels
  • 12. The Strategic Planning Process
  • 13. SW Analysis OT
  • 14. Managers as Decision Makerss Decision making is the process of recognizing a problem or opportunity, evaluating alternative solutions, selecting and implementing an alternative, and assessing the results.s Programmed decision involves simple, common problems with predetermined solutions.s Nonprogrammed decision involves a complex, unique problem or opportunity with important consequences for the organization.
  • 15. How Managers Make Decisions
  • 16. Managers as Leaderss Leadership is the ability to direct or inspire people to attain certain goals.s Involves the use of influence or power.s Three traits are common among many leaders: s Empathy s Self-awareness s Objectivity in dealing with others
  • 17. Leadership Styles s Autocratic Leadership s Make decisions on own without consulting employees. s Democratic Leadership s Involve employees in decisions, delegate assignments, and ask employees for suggestions. s Free-Rein Leadership s Leave most decisions to employees.
  • 18. Corporate Cultures Corporate Culture: Organization’s system of principles, beliefs, and values.s Managers use symbols, rituals, ceremonies, and stories to reinforce corporate culture.
  • 19. Organizational Structuress Organization: structured grouping of people working together to achieve common goals.s Three key elements: s Human interaction s Goal-directed activities s Structure
  • 20. Organizational Chart
  • 21. DepartmentalizationProcess of dividing work activities into units within the organization.s Product departmentalization: organized based on the goods and services a company offers.s Geographical departmentalization: organized by geographical regions within a country or, for a multinational firm, by region throughout the world.s Customer departmentalization: organized by the different types of customers the organization serves.s Functional departmentalization: organized by business functions such as finance, marketing, human resources, and production.s Process departmentalization: organized by work processes necessary to complete production of goods or services.
  • 22. Different Forms of Departmentalization
  • 23. Delegating W Assignments orks Delegation is the act of assigning work activities to subordinates. s Providing employees with the responsibility and the necessary authority for completing tasks. s Employees have accountability, or responsibility for the results of the way they perform their assignments. s Authority and responsibility move down; accountability moves up.s Span of management is the number of subordinates, or direct reports, a supervisor manages.s Centralization: decision making is retained at the top of the management hierarchy.s Decentralization: decision making is located at the lower levels. Many firms believe it enhances their flexibility and responsiveness to customer needs.
  • 24. Types of Organizational StructuresLine Organizationss Oldest and simplest form; direct flow of authority from CEO to subordinates.s Chain of command indicates who directs which activities and who reports to whom.Line-and-Staff Organizationss Combines line departments and staff departments.s Line departments participate directly in decisions that affect the core operations of the organization.s Staff departments lend specialized technical support.
  • 25. Line and Staff Organizations
  • 26. Committee Organizationss Authority and responsibility are in the hands of a group of individuals.s Often part of a line-and-staff structure.s Often develop new products.s Tend to act slowly and conservatively.s Often make decisions by compromising conflicting interests rather than choosing best alternative.
  • 27. Matrix Organizationss Project management structure that links employees from different parts of the organization to work together on specific projects.s Employees report to a line manager and a project manager.Advantages: Disadvantages:s Flexibility in adapting to s Integrating skills of many changes. specialists into a coordinateds Focus on major problems team. or products. s Team members’ permanent functional managers musts Outlet for employees’ adjust the employees’ creativity and initiative. regular workloads.
  • 28. The Matrix Organization