MAN210: Entrepreneurship Chapter 9 and 10 Slides (management and leadership
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Transcript of MAN210: Entrepreneurship Chapter 9 and 10 Slides (management and leadership
McGraw-Hill © 2011 by The McGraw-Hill Companies, Inc. All rights reserved.
Chapter Nine: Management: Functions and Styles
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Learning Objectives
Describe the changes occurring in management today.
Explain the four functions of management.
Describe various management styles and know when they are appropriate.
Explain future challenges for management.
9-2
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Today’s Managers
View job as not telling people what to do, but as a partnership Coaching and supporting Teams and Team building
Management The process of planning, organizing, leading
and controlling people to accomplish goals
9-3
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Management Functions
Planning Organizing Leading Controlling We will discuss each in detail
9-4
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Planning
The process of setting organizational vision, mission, goals and objectives.
Mission Statements A corporate vision Should include:
Customer needs, company philosophy, the organizations self concept, long term survival, the nature of products/services, social responsibility and employees
9-5
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Planning
Goals Long term accomplishments an
organization wishes to attain Objectives
Specific statements that address how to achieve goals in the short term
9-6
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Planning
SWOT Analysis Strengths, opportunities, weakness and threats Using this process can help a company see what it
does well, what it doesn’t do well and try to improve upon
PEST Analysis An external analysis to determine political,
economic, social and technological things that may impact a business
9-7
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Planning
Types of planning Strategic planning Tactical planning Operational planning Contingency planning
9-8
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Organizing
Once planning is done, managers must organize to meet goals
Organizational chart A visual representation that shows
relationships among people Span of control
Refers to how many people a manager will manage
9-9
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Organizing
Levels of management Top Middle Supervisory managers
Skills required Technical Human relations Conceptual skills
9-10
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Organizing
Types of company structures Line and staff Matrix Departmentalization
9-11
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Leading
Communicating a vision Establishing company values Promoting ethics Embracing change Stressing accountability
9-12
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Controlling
Establishing clear standards Monitor and record performance Compare results against standards Communicating results and deviations Taking corrective action where needed
9-13
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Management Styles
Autocratic leadership Manager makes decisions
Participative Leadership Managers and employees work together to
make decisions Free reign leadership
Managers set objectives and employees are free to do what needs to be done to accomplish
9-14
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Management Styles
Theory X Assumptions by manager: employees dislike work, need to be
directed and fear and money as motivators Theory Y
Assumptions by manager: employees naturally work toward goals, can solve problems, workers are motivated by a variety of rewards
Theory Z Hybrid style of management Japanese and American approach Assumptions by manager: long term employment with one
company, collective decision making individual responsibility, specialized career path
9-15
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Management Challenges
Management Scrutiny (brought by management scandals)
Constant change Global competition Technological changes Diversity in the workforce Downsizing
9-16
McGraw-Hill © 2011 by The McGraw-Hill Companies, Inc. All rights reserved.
Chapter Ten: Leadership and Motivation
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Learning Objectives
Understand the difference between management and leadership.
Describe the qualities of a leader and the differing leadership styles.
Understand the importance of motivation.
Describe the key principles of employee improvement theories
10-18
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Management vs. Leadership
Leadership Creating a vision for others to follow, establishing
corporate values, transforming the way a business does business for effectiveness and efficiency
Management The process of planning, organizing, leading and
controlling A leader provides guidance in a broad sense
10-19
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Leadership Qualities
Exhibit of integrity, ethics, responsibility and self knowledge
Having vision and understanding business and tasks
Listening and communicating Being able to change Decisive and Committed Positive attitude and enthusiasm Taking Care of people and inspiring them
10-20
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Leadership styles
Formal and Informal leadership Task Leaders and social leaders Transformational Leadership
A leader who can transform the ideas of employees to create a shared vision
Transactional leadership A leader who gets people to do things by
providing structure and guidelines
10-21
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Understanding motivation
Intrinsic versus extrinsic rewards Scientific Management
Focus on time motion studies Efficient process
Hawthorne studies Tried to find motivation for workers based on things like
break times and light Realized that when people were watched, they worker
harder Called the Hawthorne effect
10-22
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Motivation Theories
Maslow’s Hierarchy of Needs Must meet bottom level needs before
moving up hierarchy Motivation is a result of a need When one level of needs is met, people
move up to meet next level of needs
10-23
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Maslow’s Hierarchy10-24
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The top motivating factors Senses of achievement Recognition Interest in the work Opportunity for growth
and advancement Importance of
responsibility Relationships
Pay Supervisor fairness Company Policies Status Job Security Supervision friendliness Working conditions
Herzberg’s Two Factor Theory10-25
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Herzberg’s Two Factor Theory
Conclusions Motivators
Cause employees to be productive Hygiene factors
Dissatisfaction if not present, but does not necessarily motivate
10-26
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Herzberg’s Two Factor Theory10-27
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Other ways to motivate
Job rotation Moving employees from one job to another
Job enlargement Combining a series of tasks into a
challenging assignment Job enrichment
Changing something about the job to make it more interesting
10-28
© 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill
Goal Setting and MBOs
Goal Setting Theory Setting ambitious but achievable goals will
motivate employees Management by Objective (MBOs)
A system of goal setting that allows for input and constant discussion and updating goals
10-29
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Other Motivational Theories
Reinforcement theory Based on the idea that positive and negative
reinforcement motivates a person to behave in a specific way
Creates a system dependant on punishment and reward
Equity Theory The idea that employees try to maintain equity
between inputs and outputs compared to others in the same position
10-30
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Other Motivational Theories
Empowerment Giving authority to the employees to make
decisions Requires employees to have ability and
manager to have trust
10-31