Business Copyright 2005 Prentice- Hall, Inc. 6-1

Business Copyright 2005 Prentice- Hall, Inc. 6-2 Part Two: The Business Of Managing 6.Managing the Business Of Managing 7.Organizing the Business Enterprise 8.Managing Human Resources & Labor Relations 9.Motivating, Satisfying, and Leading Employees

4-3 Chapter 6 Managing The Business Enterprise

Business Copyright 2005 Prentice- Hall, Inc. 6-4 Chapter Outline Who Are Managers? Who Are Managers? Setting Goals & Formulating Strategy Setting Goals & Formulating Strategy The Management Process The Management Process Types of Managers Types of Managers Basic Management Skills Basic Management Skills Management & The Corporate Culture Management & The Corporate Culture

Business Copyright 2005 Prentice- Hall, Inc. 6-5 Who Are Managers? All Organizations Require Effective ManagersAll Organizations Require Effective Managers All Managers Perform The Same Basic FunctionsAll Managers Perform The Same Basic Functions –Plan –Organize –Direct –Control

Business Copyright 2005 Prentice- Hall, Inc. 6-6 Female CEOs Source: “Women Inch Up The Corporate Ladder”, The Gazette, November 19, 2002.

Business Copyright 2005 Prentice- Hall, Inc. 6-7 Companies With Highest Percentage Of Female Top Executives Source: “Women Inch Up The Corporate Ladder”, The Gazette, November 19, 2002.

Business Copyright 2005 Prentice- Hall, Inc. 6-8 Planning- Types of Strategy CorporateCorporate Business/CompetitiveBusiness/Competitive FunctionalFunctional

Business Copyright 2005 Prentice- Hall, Inc. 6-9 Reasons For Goals Direction/GuidanceDirection/Guidance Resource AllocationResource Allocation Define Corporate CultureDefine Corporate Culture Assess PerformanceAssess Performance

Business Copyright 2005 Prentice- Hall, Inc Kinds Of Goals Mission Statement – Why Organization Exists & How It Will OperateMission Statement – Why Organization Exists & How It Will Operate Long-Term = 5 Years +Long-Term = 5 Years + Intermediate = YearsIntermediate = Years Short-Term = Less Than 1 YearShort-Term = Less Than 1 Year

Business Copyright 2005 Prentice- Hall, Inc Strategy Formulation

Business Copyright 2005 Prentice- Hall, Inc Formulating Strategy Define & Meet Organization’s GoalsDefine & Meet Organization’s Goals Strategic GoalsStrategic Goals StrengthsStrengths Weaknesses Weaknesses Opportunities Opportunities Threats Threats Environmental AnalysisEnvironmental Analysis Organizational AnalysisOrganizational Analysis

Business Copyright 2005 Prentice- Hall, Inc Analysis Environmental Analysis Organizational Analysis

Business Copyright 2005 Prentice- Hall, Inc Planning Levels Operational Tactical Strategic

Business Copyright 2005 Prentice- Hall, Inc Other Forms or Levels Of Planning Contingency- Changes in Business/EnvironmentContingency- Changes in Business/Environment Crisis- EmergenciesCrisis- Emergencies

Business Copyright 2005 Prentice- Hall, Inc Management Process Planning Organizing Directing Controlling

Business Copyright 2005 Prentice- Hall, Inc Control Process

Business Copyright 2005 Prentice- Hall, Inc Management Pyramid Top Middle First-Line

Business Copyright 2005 Prentice- Hall, Inc Areas Of Management  Human Resources- Hire/Train  Operations- Systems  Marketing- Get Products & Services From Producer To Consumer  Information- Gather, Organize, & Distribute Information  Financial- Accounting & Finance  Other

Business Copyright 2005 Prentice- Hall, Inc Basic Skills- Technical Accounting Programming Architect

Business Copyright 2005 Prentice- Hall, Inc Basic Skills- Human Relations

Business Copyright 2005 Prentice- Hall, Inc Employee Satisfaction Depends On: Source: “Managers Beware: Employee Job Satisfaction Depends On You”, Colorado Springs Business Journal, Nov. 21, 2003.

Business Copyright 2005 Prentice- Hall, Inc Basic Skills- Conceptual

Business Copyright 2005 Prentice- Hall, Inc Basic Skills- Decision-Making Define Problem Evaluate/SelectAlternative Implement & Evaluate

Business Copyright 2005 Prentice- Hall, Inc Basic Skills- Time Management PaperworkPaperwork TelephoneTelephone MeetingsMeetings

Business Copyright 2005 Prentice- Hall, Inc Skills- 21 st Century GlobalGlobal Management &TechnologyManagement &Technology

Business Copyright 2005 Prentice- Hall, Inc Businesses Offering Incentives To Get Ph.D. Source: “What CEOs Want To Know About…Leadership Development?” Connections, League for Innovation In the Community College, April 2004:

Business Copyright 2005 Prentice- Hall, Inc What CEOs Feel Are The Important Skills For Leadership Source: “What CEOs Want To Know About…Leadership Development?” Connections, League for Innovation In the Community College, April 2004:

Business Copyright 2005 Prentice- Hall, Inc Corporate Culture- Shared ExperiencesExperiences StoriesStories BeliefsBeliefs NormsNorms

Business Copyright 2005 Prentice- Hall, Inc Communicating Culture & Change CommunicateCommunicate –Understand Culture –Transmit Culture –Maintain Culture Managing ChangeManaging Change –Analysis Highlights Need For Change –Top Management = Formulate Vision –Create Systems To Sustain New Vision/ Values