management Chap 001

8/10/2019 management Chap 001

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Chapter One

The ExceptionalManager:

What You Do, How

You Do It

McGraw-Hill/Irwin Copyri ght 2013 by The McGraw-H il l Companies, In c. All ri ghts reserved.


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Major Questions You Should Be

Able to Answer

1.1What are the rewards of being an exceptional

manager?

1.2What are seven challenges I can look forward to as

a manager?1.3What would I actually dothat is, what would

be my four principal functionsas a manager?

1.4What are the levels and areas of management Ineed to know to move up, down, and sideways?


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Major Questions You Should Be

Able to Answer

1.5To be an exceptional manager, what roles must I

play successfully?

1.6Do I have what it takes to be an entrepreneur?

1.7To be a terrific manager, what skills should Icultivate?


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Management: What It Is, What Its

Benefits Are

Managers operate within an organization

Organization

a group of people who work together to achieve

some specific purpose


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Benefits Are

Managementis defined as

1. The pursuit of organizational goals efficiently

and effectivelyby

2. Integratingthe work of people through

3. Planning, Organizing, Leading, and

Controlling the organizations resources(POLC)


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Benefits Are

To be efficientmeans to

use resources -people,

money, raw materials, and

the like -wisely and cost-effectively

To be effectivemeans to

achieve results, to makethe right decisions and to

successfully carry them out

so that they achieve

organizational goals


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Rewards of Studying Management

Understanding how to deal with organizations

from the outside

Understanding how to relate to your supervisors

Understanding how to interactwith co-workers

Understanding how to manage yourselfin the

workplace


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Rewards of Practicing Management

You and your employees can experience a sense

of accomplishment

You can stretch your abilities and magnify your

range

You can build a catalog of successful products or

services


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Seven Challenges to Being an

Exceptional Manager

1. Managing for competitive advantagestaying ahead of

rivals

2. Managing for diversitythe future wont resemble the

past3. Managing for globalizationthe expanding

management universe

4. Managing for information technology5. Managing for ethical standards

6. Managing for SustainabilityThe Business of Green

7. Managing for your own happiness & life goals.


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Managing for Competitive

Advantage

Competitive advantage

the ability of an

organization to produce

goods or services more

effectively/efficiently

than competitors do,

thereby outperformingthem


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Managing for Competitive

Advantage

Being responsive to customers

Innovation

Quality

Efficiency


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By 2015, consumers are projected to spend

$1.4 trillion online, a rise of 13.5 % annually

Information technology has facilitated

e-business, using the Internet to facilitate

every aspect of running a business

Managing for Information

Technology


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Managing for Information

Technology

Implications of e-business

Far-ranging e-management and e-

communication

Accelerated decision making, conflict, and

stress

Changes in organizational structure, jobs, goal

setting, and knowledge management


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Managing for Sustainability

Sustainability

economic

development that

meets the needs of

the present without

compromising the

ability of futuregenerations to meet

their own needs.


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What Managers Do: The Four

Principal FunctionsFigure 1.1


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Pyramid Power: Levels & Areas of

ManagementFigure 1.2


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Management

Top managers

make long-term decisions about the overall direction of

the organization and establish the objectives, policies,

and strategies for itMiddle managers

implement the policies and plans of the top managers

above them and supervise and coordinate the activitiesof the first-line managers below them

First-line managers

make short-term operating decisions, directing the

daily tasks of nonmanagerial personnel.


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Management

Functional manager

responsible for just one organizational activity

General manager

responsible for several organizational activities


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Roles Managers Must Play

Successfully

The managers roles: Mintzbergs useful findings

1. A manager relies more on verbalthan on

writtencommunication

2. A manager works long hours at an intense

pace

3. A managers work is characterized by

fragmentation, brevity, & variety


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Three Types of Managerial Roles

Interpersonal roles

managers interact with people inside and outside their

work units

figurehead, leader, liaison

Informational roles

managers receive and communicate information

monitor, disseminator, spokesperson

Decisional roles managers use information to make decisions to solve

problems or take advantage of opportunities

entrepreneur, disturbance handler, resource allocator,

negotiator


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The Entrepreneurial Spirit

Entrepreneurship

process of taking risks to

try to create a new empire

Entrepreneur,intrapreneur

Entrepreneur

someone who sees a newopportunity for a product

or service and launches a

business to try to realize it


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Intrapreneur

someone who works

inside an existing

organization who sees

an opportunity for a

product or service

and mobilizes theorganizations

resources to try to

realize it


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How Do Entrepreneurs &

Managers Differ

Being an

entrepreneuris what

it takes to start abusiness

Being a manageris

what it takes to grow

or maintain abusiness


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Necessity

entrepreneurs

people who

suddenly must earn

a living and are

simply trying to

replace lost incomeand are hoping a job

comes along

Opportunity

entrepreneurs

those who start

their business out of

a burning desire

rather than because

they lost a job


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The Skills Exceptional Managers

Need

Technical skills

the job-specific knowledge needed to perform well

in a specialized field

Conceptual skills

the ability to think analytically, to visualize an

organization as a whole and understand how the

parts work togetherHuman skills

the ability to work well in cooperation with other

people to get things done

h l d


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The Most Valued Traits in

Managers

The ability to motivate and engage others

The ability to communicate

Work experience outside the United States

High energy levels to meet the demands of

globaltravel and a 24/7world


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management Chap 001

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