Managing The Business Enterprise Leonardo Matarrese

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    Managing The Business Enterprise Leonardo Matarrese - Presentation Transcript

    1. Chapter 5 Managing the Business Enterprise Leonardo Matarrese @MyPlick
    2. Outline
      • Setting Goals and Formulating Strategy
      • The Management Process
      • Types of Managers
      • Basic Management Skills
      • Management and the Corporate Culture
      Leonardo Matarrese @MyPlick
    3. Setting Goals and Formulating Strategy
      • Goal
        • Objective that a business hopes and plans to achieve
      • Strategy
        • Broad program underlying decision making process to assist managers in achieving company goals
      Leonardo Matarrese @MyPlick
    4. Setting Business Goals
      • Goals are performance targets—the means by which organizations and their managers measure success or failure at every level.
      Leonardo Matarrese @MyPlick
    5. Purpose of Goal Setting
      • Goal setting provides direction and guidance for managers at all levels.
      • Goal setting helps firms allocate resources.
      • Goal setting helps to define corporate culture.
      • Goal setting helps managers assess performance.
      Leonardo Matarrese @MyPlick
    6. Kinds of Goals
      • Goals differ from company to company, depending on the firm’s purpose and mission. Every enterprise has a purpose , or a reason for being.
      • Businesses seek profits, universities seek to discover and transmit new knowledge, and government agencies seek to set and enforce public policy.
      • Mission Statement  
        • Organization’s statement of how it will achieve its purpose in the environment in which it conducts its business
      Leonardo Matarrese @MyPlick
    7. Kinds of Goals
      • Regardless of a company’s purpose and mission , every firm has:
      • Long-term Goals
        • Goals set for an extended time, typically 5 years or more into the future
      • Intermediate Goals 
        • Goals set for a period of 1 to 5 years into the future
      • Short-term Goals 
        • Goals set for the very near future, typically less than 1 year
      Leonardo Matarrese @MyPlick
    8. Formulating Strategy
      • Strategy Formulation 
        • Creation of a broad program for defining and meeting an organization’s goals
      Leonardo Matarrese @MyPlick
    9. Strategy Formulation Set Strategic Goals Analyze the Organization Analyze the Environment Formulate Strategy 5 - Leonardo Matarrese @MyPlick Match the Organization and its Environment
    10. Setting Strategic Goals
      • Strategic Goals  
        • Long-term goals derived directly from a firm’s mission statement
      Leonardo Matarrese @MyPlick
    11. Analyzing the Organization and Its Environment
      • Environmental Analysis
        • Process of scanning the business environment for threats and opportunities
      • Organizational Analysis
        • Process of analyzing a firm’s strengths and weaknesses
      Leonardo Matarrese @MyPlick
    12. Matching the Organization and Its Environment
      • Matching environmental threats and opportunities against corporate strengths and weaknesses is the final step in strategy formulation.
      • The matching process is the heart of strategy formulation and lays the foundation for successfully planning and conducting business.
      Leonardo Matarrese @MyPlick
    13. Hierarchy of Plans
      • Strategic Plans  
        • Plans reflecting decisions about resource allocations, company priorities, and steps needed to meet strategic goals
      • Tactical Plans 
        • Generally short-range plans concerned with implementing specific aspects of a company’s strategic plans
      • Operational Plans 
        • Plans setting short-term targets for daily, weekly, or monthly performance
      Leonardo Matarrese @MyPlick
    14. Contingency Planning and Crisis Management
      • Two common methods of dealing with the unknown and unforeseen are:
      • Contingency Planning
      • Crisis Management
      Leonardo Matarrese @MyPlick
    15. Contingency Planning
      • Is planning for change by:
        • seeking to identify in advance important aspects of a business or its market that might change.
        • identifying ways in which a company will respond to changes.
      • Many companies use computer programs for contingency planning.
      Leonardo Matarrese @MyPlick
    16. Crisis Management
      • Involves an organization’s methods for dealing with emergencies.
      Leonardo Matarrese @MyPlick
    17. The Management Process
      • Management is the process of planning, organizing, directing, and controlling an organization’s financial, physical, human, and information resources to achieve its goals.
      Leonardo Matarrese @MyPlick
      • “ Everybody now needs e-mail. Somebody shuts it down and we are significantly out of business .”
        • ~ Steve White
        • IBM Computer-Virus Scientist
        • on attack of the “Love Bug”
      5 - Leonardo Matarrese @MyPlick
    18. The Management Process
      • Planning
      • Organizing
      • Directing
      • Controlling
      Leonardo Matarrese @MyPlick
      • Planning
      • what an organization needs to do and how to get it done
      • Organizing
        • how best to arrange an organization’s resources and activities into a coherent structure
      • Directing
        • guiding and motivating employees to meet an organization’s objectives
      • Controlling
        • monitoring an organization’s performance to ensure that it is meeting its goals
      Leonardo Matarrese @MyPlick
    19. Control Process 5 - Establish Standards Measure Performance Does measured performance match standards? YES NO Continue Current Activities Adjust Performance or Standards Leonardo Matarrese @MyPlick
    20. Types of Managers
      • Top Managers
        • Managers responsible to the board of directors and stockholders for a firm’s overall performance and effectiveness
      • Middle Managers
        • Managers responsible for implementing the strategies, policies, and decisions made by top managers
      • First-line Managers
        • Managers responsible for supervising the work of employees
      Leonardo Matarrese @MyPlick
    21. Areas of Management
      • Human Resource Managers
      • Operations Managers
      • Marketing Managers
      • Information Managers
      • Financial Managers
      • Specialized Managers
      Leonardo Matarrese @MyPlick
    22. Basic Management Skills
      • Technical Skills 
        • Skills needed to perform specialized tasks
      • Human Relations Skills 
        • Skills in understanding and getting along with people
      • Conceptual Skills 
        • Abilities to think in the abstract, diagnose and analyze different situations, and see beyond the present situation
      • Decision-making Skills 
        • Skills in defining problems and selecting the best courses of action
      Leonardo Matarrese @MyPlick
    23. The Decision-Making Process Gather facts and develop alternatives. Select the best alternative. Follow up and evaluate the chosen alternative. Define the Problem Evaluate Alternatives Implement the chosen Alternative Leonardo Matarrese @MyPlick
    24. Time Management Skills
      • To manage time effectively, managers must address four leading causes of wasted time:
        • Paperwork
        • The Telephone
        • Meetings
        • E-mail
      Leonardo Matarrese @MyPlick
    25. Management Skills for the 21 st Century
      • Global Management Skills
      • Management & Technology Skills
      Leonardo Matarrese @MyPlick
    26. Management & the Corporate Culture
      • Corporate Culture
        • The shared experiences, stories, beliefs, and norms that characterize an organization
      Leonardo Matarrese @MyPlick
    27. Communicating the Culture & Managing Change
      • Communicating the Culture
      • Mangers must:
      • understand the culture.
      • transmit the culture to others in the organization.
      • maintain the culture by rewarding and promoting those who understand and work toward maintaining it.
      Leonardo Matarrese @MyPlick
    28. Communicating the Culture & Managing Change
      • Managing Change – Three Stages
      • At the highest level, analysis of the company’s environment highlights extensive change as the most effective response to its problems.
      • Top management begins to formulate a vision of a new company.
      • The firm sets up new systems for appraising and compensating employees that enforce its new values.
      Leonardo Matarrese @MyPlick

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