Business Leadership Unit 1

What does a Manager do?

Is a person who supports, activates, and is responsible for the work of others (team leaders, supervisor, dean, president, etc)

Levels of management

1. Top role managers: Responsible for the management of a whole organization (CEO, CFO, COO)

2. Middle role manager: Responsible for divisions, regions, districts, etc (Regional manager, division manager, branch manager)

3. Front role manager: Responsible for day to day organizations (Supervisor, Team leader, etc)

Type of managers

1. Line manager: Deals directly with employees working on the floor (retail manager, team leader, etc)

2. Staff manager: Has advisory or indirect authority rather than direct control over employees. Provides advice to line managers. (Director of human resources, CFO)

3. Functional Manager: Responsible for one specific area of expertise. Has direct authority over employees working in that division

4. General Manager: Responsible for many functional areas, typically top of chain (plant manager manages warehouse, sales, HR, etc)

5. Administer: A manager in a public or non-profit organization

Examples of high QWL

QWL - Quality of work life

1. Fair pay

2. Safe working conditions

3. room to grow

4. pride in work

5. protection

21st Century Themes

1. Competitive

2. Global Workplace

3. Adapt to change

4. Tech/AI

Business Challenges (Globalization)

1. Cultural differences: Understanding different cultures

2. Market Saturation: Entering a new market can create fierce competition

3. Brand Reputation: Managing a brand across multiple regions can be difficult

Business Challenges (Environmental)

1. Regulatory Compliance: Laws regarding the environment are becoming stricter

2. Consumer Expectations: Consistently meeting customer expectations for products is challenging when their is a premium of sustainable product costs

3. Competitive pressure: Business who fail to adapt to sustainable practices face backlash

Business Challenges (Talent and Staffing)

1. Increased competition: Hiring process has become more competitive as organization from around the world are hiring

2. Skill Demand: Advance of AI and shifts in industrial needs creates a shortage of skills required and skills available

3. Education Gaps: Schools do not always keep up to date with current economy demands creating an education gap

Business Challenges (Diversity and Inclusion)

1. Bias: Based on stereotypes

2. Lack of diversity in leadership positions

3. Inclusive culture: Creating and maintaining a work environment suitable for everyone where everyone feels safe

Business Challenges (Cyber threats)

1. Data Breach: Can expose sensitive company data

2. Financial Loss: Theft of funds, ransom payments, etc

3. Reputation Loss: Damage reputation and break trust in costumer relashionship

Business Challenges (Corporate social responsability)

1. Balancing stakeholders interests

2. Transparency and accountability

3. Resource allocations

Business Challenges (Tech Advances)

1. Rapid tech change: Tech is advancing, and being able to stay up to date is challenging

2. Cost of adoption: Incorporating tech or AI can be costly

3. AI and jobs: The rise of AI can lead to job loss and imbalance in the workplace

Business Challenges (Changing behaviour)

1. adapting to online retail: Tech advance means ecommerce

2. Customer trust: Building trust in the online environment can be crucial in ecommerce (safety, reliability, costumer service)

3. Evolving customer expectations: Consumers expect fast returns, quick delivery, high quality

EI

Emotional Intelligence: Discribes ones ability to perceive, assess, and manage emotions of themselves and others

EQ

Emotional Quotient: A mesure of ones EI

Major Components of EI

1. Self Awareness: Emotional self awareness

2. Self Management: Adapt, positivity, resilience, etc

3. Social Awareness: Empathy, organizational awareness, etc

4. Relationship Management: Influence, coach and mentor, teamwork, inspire, etc

IQ vs EQ

IQ: Helps you get in the door, ability to learn and understand, book smart

EQ: Helps you succeed at job, ability to use and manage emotions, heart smart

How to raise EQ

1. Knowing one’s own emotions

2. Motivating oneself

3. Recognizing emotions in others

4. Managing emotions

5. Handeling emotions

Corporate Culture

The beliefs and behaviours that determine how a company’s employees and management interact and handel outside business interactions. Corporate culture is often implied not defined and develops naturally over time based on the companies traits of who they hire.

How to establish corporate culture

1. Mission statements

2. Office design

3. Goal setting/reward system

4. stories and heros

5. recognition/parties

Benefits of Corporate culture

1. Give members a shared organizational community

2. Make employees committed and loyal

3. Reduces anxiety and provides members with a sense of stability

4. Shapes individual and team behaviour

Types of corporate cultures

1. Startup culture: informal, flexible, and innovations driven

2. Traditional Corporate culture: hierarchical, formal, structured work

3. Customer service culture: customer first and high energy

4. Competitive culture: performance base and fast paced

5. Work life balance culture: prioritizes well being and relaxed deadlines

Mission Statements

• Written, easy to remember sentences

• A short list of bullet points

• or a paragraph illustrating a goal or purpose

* Identifies your company to its customers, employees, and media that will be using your products

*4 sentences

A good mission statement

1. Clearly identifies the organization

2. The product or services it will deliver

3. The purpose of the company

4. Explains how the venture will meet the needs and wants of customers

Business Ethics

Concerned with the behaviour when treating employees, society, shareholders, consumer

Ethical Dilema

Arises when two or more conflicting choices must be considered requiring a moral dicision

Ethics

Code of moral principals that set standerds of good and bad

Ethical behaviour

What is accepted as good in the context of moral code.

*Legal behaviour is not necessarily ethical behaviour and viseversa

Values

Beliefs about what appropriate behaviour is

Cultural relativism

The beliefs that what is ethical differs from culture to culture

Ethical Imperialism

The idea that one owns belief of ethics is absolute

CRS

Corporate social responsibility:

• Corporations must take accountability for social issues and not with just earning profits.

• Issues include human rights, the environment, the community

• A companies CRS levels show how accountable they are to shareholders

Manager Skills (3)

1. Human skills: Good teamwork

2. Conceptual skills: Ability to think analytically

3. Technical skills: Ability to use specific expertise

Hard vs Soft skills

hard skills: Technical, teachable, and mesurable skills

Soft Skills: Interpersonal and emotional intelligence skills

Employee benifits Vs Perks

Employee benefits: Essential, often legally required, focus on long term well being (health-care benifits, paid time off, maternity leave, retierment savings)

Company Perks: Extra non necessary incentives that make the work place more enjoyable (free coffee/tea in break room, option to work from home, flexible work hours)

Upskilling

Learning new skills or improving new ones to stay relevant in your job.

• A factory worker getting trained to work new machinery

• An office worker learning excel to improve work productivity

• Older generation learning AI/tech to advance work productivity and skill.

Who are the stakeholders in a company?

1. Community

2. Employees

3. Custumer

4. Supplier

5. Shareholders