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Chap007
- 1. * * Chapter Seven Management and Leadership Copyright © 2010 by the McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin
- 13. SWOT MATRIX * * Planning & Decision Making LG3 7-
- 17. PLANNING FUNCTIONS * * Planning & Decision Making LG3 7-
Editor's Notes
- See Learning Goal 1: Describe the changes occurring today in the management function.
- See Learning Goal 1: Describe the changes occurring today in the management function. As the demographic make-up of this country changes the typical manager is changing. Today more managers are women and less are from elite universities. Managers today act more like facilitators than supervisors.
- See Learning Goal 2: Describe the four functions of management. Management is the process used to accomplish organizational goals through the four functions of management. The four functions of management are planning, organizing, leading and controlling.
- See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals. Creating vision for the company is not merely setting a goal but rather creating a sense of purpose for the organization.
- See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals. The mission statement is the foundation for setting specific goals and objectives within the organization.
- See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals.
- See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals. SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats. As part of the internal analysis, the organization identifies the potential strengths that it can capitalize upon and potential weaknesses that it should improve upon. An organization, as part of an external environmental analysis, identifies the opportunities (factors that an organization can take advantage of) and threats (factors that an organization should avoid or minimize the impact of). An interesting exercise for the students – have them perform a SWOT analysis on themselves (At least the strengths and weaknesses part should be an eye opening experience for them.)
- See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals.
- See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals.
- See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals.
- See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals. This slide covers the key areas of planning by business managers. Students should be reminded that planning requires preparation to be successful. More effort put into planning, will result in greater achievement. All planning should be in writing with an estimation of time and cost. Gantt charts are often used to compare planned results with actual accomplishments. Even the best prepared plans sometimes miss the unexpected problems. Managers should always be prepared to act in the event a plan fails. Poor contingency planning may result in significant problems for a company.
- See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals.
- See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals. Managers don’t always go through this seven step process. However, they must always make sound decisions. It is easier said than done. As an interesting exercise, you can ask the students, working in a group, to go through a simple process of identifying an automobile to purchase using these steps. Everyone’s input should be obtained in the group. They either can select a group manager or all can have an equal say/vote. Both scenarios should produce different but interesting experiences for students.
- See Learning Goal 3: Relate the planning process and decision making to the accomplishment of company goals.
- See Learning Goal 4: Describe the organizing function of management.
- See Learning Goal 4: Describe the organizing function of management.
- See Learning Goal 4: Describe the organizing function of management.
- See Learning Goal 4: Describe the organizing function of management.
- See Learning Goal 4: Describe the organizing function of management.
- See Learning Goal 5: Explain the differences between leaders and managers, and describe the various leadership styles.
- See Learning Goal 5: Explain the differences between leaders and managers, and describe the various leadership styles. Research tells us which leadership style is best depends on what the goals and values of the firm are, who’s being led, and in what situations.
- See Learning Goal 5: Explain the differences between leaders and managers, and describe the various leadership styles. Work Smarter Managing in today’s complex environment is about leading not supervising. This slide gives students insight into the process of empowering employees to work smarter. Ask students: What are the benefits of empowering employees to work smarter? (Employees who are empowered should be more motivated and able to handle more complex tasks)