The document discusses the challenges of managing in today's competitive landscape. It outlines the major trends driving change, including globalization, technological advances like the internet, and knowledge management. Effective management requires innovation, quality, speed, cost competitiveness, and sustainability. The core functions of management are planning, organizing, leading, and controlling. Different management levels - top, middle, and frontline - require different skills. Overall managers must adapt to evolving roles, develop key skills, and actively manage their careers to succeed.
2. 1-2
Learning Objectives
LO 1 Summarize the major challenges of managing in the
new competitive landscape
LO 2 Describe the sources of competitive advantage for a
company
LO 3 Explain how the functions of management are
evolving in today’s business environment
LO 4 Compare how the nature of management varies at
different organizational levels
LO 5 Define the skills you need to be an effective
manager
LO 6 Discuss the principles that will help you manage
your career
3. 1-3
Globalization
Today’s enterprises are global, with offices
and production facilities in countries all over
the world
Means that a company’s talent can come
from anywhere
4. 1-4
Technological Change: The Internet
Marketplace
Means for manufacturing goods and services
Distribution channel
An information service
5. 1-5
Technological Change: The Internet
Drives down costs and speeds up
globalization.
Improves efficiency of decision making.
Facilitates design of new products, from
pharmaceuticals to financial services
7. 1-7
Knowledge Management
Knowledge workers
Workers whose primary contributions are ideas
and problem-solving expertise
Knowledge managers find these human assets,
help people collaborate and learn, help people
generate new ideas, and harness those ideas
into successful innovations.
8. 1-8
Knowledge Management
Knowledge management is about finding,
unlocking, sharing, and altogether capitalizing
on the most precious resources of an
organization: people’s expertise, skills,
wisdom, and relationships.
10. 1-10
Collaboration across “Boundaries”
Companies today must motivate and
capitalize on the ideas of people outside the
organization e.g. its consultants, ad agencies,
and suppliers
Companies must realize that the need to
serve the customer drives everything else
12. 1-12
Managing for Competitive Advantage
Innovation
the introduction of new goods and services
A firm must:
adapt to changes in consumer demands and to
new competitors.
be ready with new ways to communicate with
customers and deliver the products to them.
13. 1-13
Managing for Competitive Advantage
Quality
The excellence of your product (goods or
services)
Historically, quality referred to attractiveness,
lack of defects, reliability, and long-term
dependability
14. 1-14
Managing for Competitive Advantage
Today quality is about
preventing defects
before they occur,
achieving zero defects
in manufacturing,
and designing
products for quality
15. 1-15
Managing for Competitive Advantage
Service
giving customers what they want or need, when
they want it
focused on continually meeting the needs of
customers to establish mutually beneficial long-
term relationships.
Speed
Fast and timely execution, response, and delivery
of results.
16. 1-16
Managing for Competitive Advantage
Cost competitiveness
Keeping costs low to
achieve profits and
be able to offer
prices that are
attractive to
consumers.
17. 1-17
Managing for Competitive Advantage
Sustainability
The effort to minimize the use of resources,
especially those that are polluting and
nonrenewable.
18. 1-18
The Functions of Management
Management
The process of working with people and
resources to accomplish organizational goals
Efficiently, effectively
19. 1-19
The Functions of Management
Planning
Systematically making decisions about the goals
and activities that an individual, a group, a work
unit, or the overall organization will pursue
analyzing current situations, anticipating the
future, determining objectives, deciding in what
types of activities the company will engage
20. 1-20
The Functions of Management
Organizing
assembling and coordinating the human,
financial, physical, informational, and other
resources needed to achieve goals
specifying job responsibilities, grouping jobs into
work units, marshaling and allocating resources,
and creating conditions so that people and things
work together to achieve maximum success
21. 1-21
The Functions of Management
Leading
stimulating people to be high performers
Controlling
monitoring performance and making needed
changes.
22. 1-22
Performing All Four
Management Functions
A typical day for a manager is not neatly
divided into the four functions
Days are busy and fractionated, and spent
dealing with interruptions, meetings, and
firefighting
25. 1-25
Management Levels and Skills
Top-level managers
Senior executives responsible for the overall
management and effectiveness of the
organization.
Middle-level managers
Managers located in the middle layers of the
organizational hierarchy, reporting to top-level
executives.
26. 1-26
Management Levels and Skills
Frontline managers
Lower-level
managers who
supervise the
operational activities
of the organization
30. 1-30
Management Skills
Conceptual and decision skills
Skills pertaining to the ability to identify and
resolve problems for the benefit of the
organization and its members.
32. 1-32
You and Your Career
Emotional
intelligence
The skills of
understanding
yourself, managing
yourself, and dealing
effectively with
others.
Social capital
Goodwill stemming
from your social
relationships
33. 1-33
You and Your Career
Be both a specialist and a generalist
Be self-reliant
Connect
Actively manage your relationship with
your organization
Survive and thrive
36. 1-36
Common Practices of Successful
Executives
They ask “What needs to be done?” not just
“What do I want to do?”
They write an action plan. They don’t just
think, they do, based on a sound, ethical plan.
They take responsibility for decisions.
They focus on opportunities rather than
problems.
Editor's Notes
Knowledge management is about finding, unlocking, sharing, and altogether capitalizing on the most precious resources of an organization: people’s expertise, skills, wisdom, and relationships.
