What is management?

Management is -

Getting work done through others
Efficiency - getting work done with minimum effort, expense, or waste
Effectiveness - accomplishing tasks that help fulfill organizational objectives

Functions of management -

Planning * How to get things done and improve performance * What business are we in? What to do to increase? * Organization * Making a company more effective and efficient * Where decisions will be made * Who will do jobs/tasks * Who will work for whom * Leading * Inspiring and motivating employees * Controlling * Putting controls in place to make sure plans are followed and goals are met * Monitoring progress and taking corrective actions
Managers job is to make sure everybody is enabled to do what they do well

Jobs and responsibilities

Top managers * CEO * COO * CFO * CIO * Vice President * Corporate heads * Responsible for the overall direction of the organization * Create long range vision or missions for company * Develop employee commitment to and ownership of company performance (buy in) * Create positive organizational culture through language and action * Middle managers * General manager * Plant manager * Regional manager * Divisional manager * Setting objectives consistent with top management's goals * Planning and implementing subunit strategies for achieving the objectives * Must plan and allocate resources to meet objectives * Coordinate and link groups, departments, and divisions within a company * Monitor and manage performance of subunits and managers that report to them * Implementing changes or strategies * First-line managers * Office manager * Shift supervisor * Department manager * Train and supervise the performance of nonmanagerial employees who are responsible for producing a company’s goods and services * encourage , monitor, and reward the performance of their workers * Make detailed daily schedules * Make operating plans * Team leaders * Team leader * Team contract * Group facilitator * Responsible for facilitating team activities toward goal accomplishment * Help team members * Plan and schedule work * Learn to solve problems * Work effectively with each other * Are at the service of the group * There to bring intellectual, emotional, and spiritual resources to the team * Foster good additudes and address problamatic ones * Act as a bridge/liaison between their team and other teams

Managerial roles

Interpersonal * Figurehead - managers perform ceremonial duties * Leader - managers motivate and encourage workers to accomplish organizational objectives * Liaison - managers deal with people outside theiri untis * Informational * Monitor - managers scan their environment for information * Disseminator -managers share the collected information with their subordinates and others in the company * Spokesperson - managers share information with people outside their departments or companies * Decisional * Entrepreneur - managers adapt themselves, their subordinates, and their units to change * Disturbance handler - managers respond to pressures and problems that demand immediate attention and action * Resources allocator - managers decide who gets what resources and in what ammounts * Negotiator - managers negotiate schedules, projects, resources, and employee raises

What companies look for - skills of managers

Technical skills (higher importance in lower managers) * Specialized procedures * Techniques * Knowledge required to get the job done * Human skills (high importance in all managers) * Ability to work well with others * Conceptual skills (higher importance in higher managers) * Ability to see the organization as a whole * Understanding how the different parts affect each other * Recognize how the company fits into or is affected by its environment * Motivation to manage (higher importance in higher managers) * Assessment of how enthusiastic employees are about managing the work of others

Mistakes managers make

Insensitive to others - abrasive, intimidating, bullying style * Coldm aloof, arrogant * Betray trust * Overly ambitious - thinking of the next job and playing politics * Specific performance problems with the business * Overmanaging - unable to delegate or build a team * Unable to staff effectively * Unable to think strategically * Unable to adapt to boss with different style * Overdependent on advocate or mentor

Competitive advantage through people

Employment security * Employees can innovate and increase profitability of an organization without the fear of losing their job * Selective hiring * Companies need to hire the best talent due to the presence of employment security * Self-managed teams * Produce high productivity through increased employee commitment and creativity * Decentralization * Allows employees closest to problems, production, and clients to make timely decisions * High wages contingent on organizational performance * High remuneration helps an organization attract talented employees and retain existing ones * High wages indicates the organization values its employees * Training and skill development * Companies need to invest resources to train employees to ensure skill development * Reduction of status differences * Leads to employees concentrating on work related issues rather than biases and predjudices of the management * Sharing information * Helps employees participate in the decision making process

Summary

Functions of management are planning, organizing, controlling, and leading * Kinds of managers are top, middle, first-line, and team leaders * Roles played by managers include, interpersonal, informational, and decisional * Technical, human, and conceptual skills are essential for managers

Key terms

Management * Efficiency * Effectiveness * Planning * Organizing * Leading * Controlling * Top managers * Middle managers * First-line managers * Team leaders * Figurehead role * Leader role * Liaison role * Monitor role * Disseminator role * Spokesperson role * Entrepreneur role * Disturbance handler role * Resource allocator role * Negotiator role * Technical skills * Human skills * Conceptual skills * Motivation to manage