5 chapter Business Essentials, 7 th Edition Ebert/Griffin © 2009 Pearson Education, Inc. Business Management Student PowerPoints PowerPoint Presentation prepared by Carol Vollmer Pope Alverno College

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After reading this chapter, you should be able to: 1.Describe the nature of management and identify the four basic functions that constitute the management process. 2.Identify different types of managers likely to be found in an organization by level and area. 3.Describe the basic skills required of managers. 4.Explain the importance of strategic management and effective goal setting in organizational success. © 2009 Pearson Education, Inc.

After reading this chapter, you should be able to: 5.Discuss contingency planning and crisis management in today’s business world. 6.Describe the development and explain the importance of corporate culture. L E A R N I N G O B J E C T I V E S (cont’d) © 2009 Pearson Education, Inc.

What’s in It for Me? By understanding the material discussed in this chapter, you’ll be better prepared to: © 2009 Pearson Education, Inc.

Who Are Managers? Good Managers – Are responsible for business performance and effectiveness – Are accountable to all key stakeholders © 2009 Pearson Education, Inc.

The Management Process LeadingLeading ControllingControlling PlanningPlanning OrganizingOrganizing Management © 2009 Pearson Education, Inc.

Planning The Planning Process © 2009 Pearson Education, Inc.

Organizing The Organizing Process © 2009 Pearson Education, Inc.

Leading © 2009 Pearson Education, Inc.

Controlling The Controlling Process © 2009 Pearson Education, Inc.

FIGRE 5.1 The Control Process © 2009 Pearson Education, Inc.

Types of Managers Levels of Management – Top managers: – Middle managers: – First-line managers: © 2009 Pearson Education, Inc.

Human Resources MarketingMarketing FinancialFinancial OperationsOperations InformationInformation OtherOther Areas of Management © 2009 Pearson Education, Inc.

Basic Management Skills Human Relations Skills Technical Skills Conceptual Skills Time- management skills Decision- Making Skills © 2009 Pearson Education, Inc.

Time-management skills Four leading time wasters: © 2009 Pearson Education, Inc.

Management Skills for the 21st Century Global Management Skills Management and Technology Skills © 2009 Pearson Education, Inc.

Strategic Management: Setting Goals and Formulating Strategy Strategic Management Goals Strategy © 2009 Pearson Education, Inc.

Setting Business Goals Goals Mission Statement Effective organizations set goals at many different levels: © 2009 Pearson Education, Inc.

Purposes of Goal Setting Goal Setting: © 2009 Pearson Education, Inc.

Types of Strategy Corporate Strategy © 2009 Pearson Education, Inc.

Types of Strategy (cont’d) Business (or Competitive) Strategy Functional Strategy © 2009 Pearson Education, Inc.

Formulating Strategy Step 1:Setting Strategic Goals Step 2:Analyzing the Organization and the Environment: SWOT Analysis Step 3:Matching the Organization and Its Environment © 2009 Pearson Education, Inc.

Figure 5.2 Strategy Formulation © 2009 Pearson Education, Inc.

A Hierarchy of Plans Strategic Plans Tactical Plans Operational Plans © 2009 Pearson Education, Inc.

Contingency Planning and Crisis Management Contingency Planning Crisis Management © 2009 Pearson Education, Inc.

Management and the Corporate Culture Corporate Culture Communicating the Culture © 2009 Pearson Education, Inc.

Managing Change in the Culture Stages in the Change Process © 2009 Pearson Education, Inc.

Key Terms business (or competitive) strategy conceptual skills contingency planning controlling corporate culture corporate strategy crisis management decision-making skills leading environmental analysis first-line manager functional strategy goal human relations skills intermediate goal long-term goal management middle manager mission statement organizational analysis organizing operational plan planning short-term goal strategic goal strategic management strategic plan © 2009 Pearson Education, Inc.

Key Terms (cont.) strategy strategy formulation SWOT analysis tactical plan technical skills time-management skills top manager © 2009 Pearson Education, Inc.