Chapter 7: Management and Leadership

What are the changes occuring today in the management function?

What are the four function of management?

planning, organizing, leading, controlling

What is management?

the process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources.

What does the function of Planning do ?

anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives.

-planning is a key management function because accomplishing the other functions depends heavily on having a good plan.

What is one of the major objectives of organizations?

Please customers

What is the purpose of Planning teams?

-help monitor the environment

-find business opportunities

-watch for challenges

What does the function of Organizing do?

designing the structure of the organization and creating conditions and systems in which everyone and everything work together to achieve the organization's goals and objectives

- they must remain flexible and adaptable

Managers to day tend to be...

collaborative, globally prepared, skilled communicators and team players, team building emphasizer. They guide train and support employees.

What does the function of leadership do?

creating a vision for the organization

-communicating , guiding, training, coaching, and motivating others.

What doe the function of controlling do ?

establishes clear standards to determine whether an organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not.

What is the difference between managers today and in the past?

In the past managers directed more which is telling the employees exactly what to do. Now managers allow for more freedom to employees and just guide them and give them confidence.

Executives find_____ to be their most valuable tool?

Directing

Planning

Leading

Planning

What is a vision?

more than a goal: it's a broad explanation of why the organization exists and where its trying to go.

What is a mission statement?

outlines the organizations's fundamental purpose Includes:

-organization self concept

-philosophy

-long term survival needs

- customer needs

-social responsibility

- the nature of its products or services.

what should a mission statement address?

-organization self concept

-philosophy

-long term survival needs

- customer needs

-social responsibility

- the nature of its products or services.

List the planning process?

1.VIsion statement

2.) mission statement

3.) Goals

4.) Objectives

what are Goals?

The broad, long-term accomplishments an organization wishes to attain.

What are objectives?

Specific, short-term statements detailing how to achieve the organization's goals.

Is planning a continuous process?

Yes

What questions does Planning answer?

1.)What is the situation now?

2.) How can we get to our goal from here

What is the situation now? answers questions are part of

Swot analysis

What does SWOT analysis do

analyzes the organization's strengths and weakness, and the opportunities and threats it faces, usually in that order.

What is considered external and internal to the firm?

Opportunities and threats are often external because they can not be anticipated or controlled. Weakness and strengths are internal and more within in reach of being measured and fixed.

What questions are apart of SWOT analysis?

What is strategic planning?

is done by top managemnet and determines the major goals of the organization and polices and strategies for obtaining and using resources to achieve those goals

What are the types of management

strategic

tactical

operational

contingency

What is tactical planning?

the process of developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done

what is operational planning

the process of setting work standards and schedules necessary to implement the company's tactical objectives

What is contingency planning?

Developing multiple future scenarios and the plans to accompany each scenario using a "what if"; a dynamic environment

What is decision making?

attempting to select the best alternative among several options. It is the heart of all management functions

What is rational decision making model

A series of steps that decision makers should consider if their goal is to maximize their outcome and make the best choice.

What are the six steps in the decision making process?

1.) Define the situation

2.) describe and collect needed information

3.) develop alternatives

4) decide which alternative is best

5.) do what is indicate( begin implementation

6) Determine whether the decision was a good one and follow up

What is problem solving?

less formal than decison making and used for quicker action.

What is brainstorming?

coming up with as many solutions to a problem as possible in a short period of time with no censoring of ideas

What is PMI?

a technique used for finding solutions to a problem. listing all the (P)luses for a solution in one column, all of the (M)inuses in another, and the (I) implications in a third

What does a managerial pyramid do ?

It shows the organization's level of management

What is top management?

highest level of management, consisting of the president and other key company executives who develop strategic plans

What is middle management?

the level of management that includes general managers, division managers, and branch and plant managers who are responsible for tactical planning and controlling

What is Supervisory management?

Those directly responsible for supervising workers and evaluating their daily performance

People at the top of the managerial pyramid are generally...

visionaries, planners, organizers, communicators. Theyre originial job is less important

What three categories of skills should managers have

Technical skills

Human Relations Skills

Conceptual Skills

What are technical skills?

skills that involve the ability to perform tasks in a specific discipline or department ex) marketing

what are human relations skills?

skills that involve communication and motivation; they enable managers to work through and with people

What are conceptual skills?

skills that let the manager picture the organization as a whole and see. the relationship among its various parts.

Where are conceptual skills needed

in planning, organizing, controlling, problem solving

Where are human relations skills needed?

in leadership, oaching, morale building, delegating

1.)Top manager have more_____ than ______. 2.)While first Line Managers have more________ than _________. Names the skills

1.) conceptual skills , technical skills

2.) technical skills, conceptual

What does a company need to do to staff the right kind of people.

offer some kind of incentive like salaries or days off.

What is staffing?

Recruiting, hiring, motivating and retaining the best people available to accomplish the company's objectives.

What is leadership?

creating a vision for others to follow, establishing corporate values and ethics, and transforming the way the organization does business in order to improve its effectiveness and efficiency

Good leaders motivate employees to perform at their best via supportive practices.

Management carry out the leader's vision

What must leaders do

-Communicate a vision and rally others around that vision.

-Establish corporate values.

-Promote corporate ethics.

-Embrace change.

-Stress accountability and responsibility.

What is transparency?

the presentation of a company's facts and figures in a way that is clear and apparent to all stakeholders

What are the 3 leaderships styles?

1.) Authorship leadership

2.) Participative (democratic) Leadership

3.) Free-rein Leadership

What is autocratic leadership?

make all the decisions without consulting others then tell employees what must be done and how to do it

What is Participative leadership?

involving managers and employees working TOGETHER to make decisions

What is free-rein leadership?

managers set objectives and employees are free to do whatever is appropriate to accomplish those objectives

A manger may be __________ but friendly with a new trainee.

a) participative

b.) free rein

c.) autocratic

autocratic

A manager may be ________ with an an experinced employee

a) participative

b.) free rein

c.) autocratic

participative

A manager may be __________ with a long term supervisor

a) participative

b.) free rein

c.) autocratic

free- rein

What is enabling?

giving workers the education and tools they need to make decisions

What is empowerment?

giving employees the power to act immediately, decisively, and without fear in order to attain satisfaction and delight

What is Knowledge management?

finding the right info, keeping the info in a readily accessible place, and making the info known to everyone in the firm

Summarizing the fives steps of control function of management?

1.) Establishing clear performance standards. This tire the planning function to control function Without clear standards, control is impossible

2.) Monitoring and recording actual performance or results

3.) comparing results against plans and standards.

4.) communicating results and deviations to the appropriate employees

5.) Taking corrective action when need and providing positive feedback for work well done

For managers to measure results,

Standards must be specific, attainable, and measurable.

It is important to establish a time period for reaching goals

What is an external customer?

include dealers, who buy products to sell to others, and ultimate customers (also known as end users)such as you and me who buy products for personal use.

internal customers

individuals and units within the firm that receive services from other individuals or units