Five Types
� The functions of management
� Kinds of managers
� Management skills
� Leadership
� Management decision making
Functions of management
The process of coordinating people and other resources to achieve the goal of the organization.
The four basic functions of managing:
a) Planning
b) Organizing
c) Leading and motivated
d) Controlling
Planning
Management must establish goals and how to accomplish them.
Mission statement
a statement of basic purposes for your existents it's what makes you different from competitors'
Mission statement should:
.
Tells who you are what you stand for what you do and why you do it
� Includes company ideals: honesty, courtesy, value, selection, education, etc.
� Should be two-four sentences
� Should show what you think is a perfect business
� Communication to the emp
After the mission statement is the strategic planning it have two opponents
Establishing goals an objectives
Goal
is an end result that an organization is expected to achieve over a 1 to ten year period
Establishing goals
Broader in slope
1 to 10 years horizon
Goals answers the questions what is the company expected to be achieve?
Establishing Objectives
Shorter period of time
It tells how you will achieve set goals
Objective
is a specific statement detailing what an organization intends to accomplish over a shorter period of time.
S.W.O.T Analysis
The identification and evaluation of a firm's strengths, weakness, opportunities and threats.
Strengths and weakness are _________________ that affect a company's capabilities
internal factors
Opportunity and threats are __________________ the organization
external factors
Strengths refer
to a firms favorable characteristics and core competencies
core competencies
( are approaches and processes that a company performs well that may give it an advantage over its competitors )
Opportunities refer
to favorable conditions in the environment that could produce rewards
Threats are
conditions that may prevent the form of reaching its objectives.
4 types of plans to achieve goals
Strategic Plans
Tactical(touch) plans .
Operational plans
Contingency plan
Strategic Plans
- Broadest plan develops as a guide for major policy setting and decision making.
� Broad major policy setting
� Long term goals
� Comes from the board of directors and top management.
Tactical(touch) plans
- smaller scale plan developed to implement a strategy
� On a smaller scale to implement strategic plans.
� Can be changed an up dated
Operational plans
a type of plan designed to implement tactical plans.
� Design to implement tactical plans
� Usually 1 year or less
� High to accomplish
� Specific
Contingency plan
outlines alternative course of action that may be taken if an organization's other plans are disrupted or become ineffective.
Organizing
Grouping of resources and activities to accomplish some end result in an efficient and effective manner.
Leading an motivating
Lead an motivate people or human resources
Lead -
influence people to work towards a common goal
.
Motivate-
provide reasons for people to work.
Controlling (checking)
The process of evaluating and regulating ongoing activities to ensure that goals are achieved
3 steps in the controlling function
� Set standards
� Measure performs and compare to standard
� Take corrective active if necessary
Kinds of managers
Two dimensions of managers the level within an organization (separated by responsibilities) and according to there area of management.
3 Levels of management
Top, Middle, and First-line
Top managers
Upper-level executive who guides and controls an organization's overall fortunes responsible for developing the organization's mission and determine the firm's' strategy.
Job titles: Chief Executive Officer CEO, Chief Operating Officer COO
Top Managers
Middle Managers
Implements the strategy and major polices developed by top management. Develops the tactical planes and operational plans and supervise the first line managers.
Job titles: Division manager, department manager, plant manager, and operations manager.
Middle Managers
First line Manager
Coordinates and supervises the activities of operating employees. They spend most of their time working with and motivating their employees, answering questions, and solving day-to-day problems
Job titles: office manager, supervisor, and foreman.
First line manager
Are of Management Specialization
Separated by common areas depends in the nature of the business.
The most common areas are finance, operations, marketing, human resources, and administration:
A financial manager
is primarily responsible for an organization's financial resources.
Operations manager
manages the systems that convert resources into goods and services
A marketing manager
is responsible for facilitating the exchange of products between an organization and its customers or clients.
Human resources manager
is charged with managing an organization's human resources programs
Administrative manager (also called a general manager)
\is not associated with any specific functional area but provides overall administrative guidance and leadership
Management Skills
Conceptual skills, analytic skill, interpersonal skills technical skills communication skills
Conceptual skills
involve the ability to think in abstract terms.
analytic skills
the ability to identify problems correctly, generate reasonable alternatives, and select the "best" alternatives to solve problems
interpersonal skills
the ability to deal effectively with other people
technical skills
specific skills needed to accomplish a specialized activity
communication skills
the ability to speak, listen, and write effectively
What affects managers?
Skills
Leadership
The ability to influence an affect the behaviors of others.
Two types of leadership:
Formal and informal leadership
Formal leaders
have legitimate power of position. They have authority within an organization to influence others to work for the organization's objectives.
Informal leaders
usually have no such authority and may or may not exert their influence in support of the organization
3 Leadership styles
Autocratic, participative, and entrepreneurial
Autocratic leadership
task oriented leadership style in which workers are told what to do and how to accomplish it; workers have no say in the decision-making process
Participative leadership
style in which all members of a team are involved in identifying essential goals and developing strategies to reach those goals
Entrepreneurial leadership
personality-based leadership style in which the manager seeks to inspire workers with a vision of what can be accomplished to benefit all stakeholders
What would be the better leadership?
Depends on the business
Managerial Decision Making
the act of choosing one alternative from a set of alternatives.
4 Steps of Decision making:
1. Identify the problem or opportunity
2. Generate alternatives
3. Select an alternative
4. Implementing and evaluating the solution
Problem is the discrepancy between an actual condition and a desired condition�the difference between what is occurring an