© Prentice Hall, 2004Business In Action 2eChapter Understanding the Functions and Roles of Management

© Prentice Hall, 2004Business In Action 2eChapter Managerial Functions Planning Organizing Leading Controlling

© Prentice Hall, 2004Business In Action 2eChapter The Roles of Management Interpersonal Informational Decisional

© Prentice Hall, 2004Business In Action 2eChapter Function 1: Planning Develop strategies for success Set goals and objectives Develop action plans

© Prentice Hall, 2004Business In Action 2eChapter Strategic Planning vMarket standing vInnovation vHuman resources vFinancial resources vPhysical resources vProductivity vSocial responsibility vFinancial performance

© Prentice Hall, 2004Business In Action 2eChapter Six-Step Planning Process Develop a clear vision Create a mission statement Develop forecasts Analyze the competition Set goals and objectives Develop action plans

© Prentice Hall, 2004Business In Action 2eChapter Clarity of Vision Development Communication Modification

© Prentice Hall, 2004Business In Action 2eChapter The Mission Statement Purpose Goals Philosophies

© Prentice Hall, 2004Business In Action 2eChapter Managerial Forecasts Qualitative forecasting Quantitative forecasting

© Prentice Hall, 2004Business In Action 2eChapter Competitive Analysis Differentiation strategy Cost leadership strategy Focus strategy

© Prentice Hall, 2004Business In Action 2eChapter Company Goals and Objectives Goals –Broad, long-range Objectives –Specific, short-range Benefits –Boosts motivation –Sets standards –Guides activity –Clarifies expectations

© Prentice Hall, 2004Business In Action 2eChapter Action Plans Tactical plans Operational plans

© Prentice Hall, 2004Business In Action 2eChapter Crisis Management Minimize damage Maintain operations

© Prentice Hall, 2004Business In Action 2eChapter Function 2: Organizing Employee activities Facilities and equipment Decision making Supervision Resource distribution

© Prentice Hall, 2004Business In Action 2eChapter The Management Pyramid Top managers Middle managers First-line managers

© Prentice Hall, 2004Business In Action 2eChapter Function 3: Leading Influencing people Motivating people

© Prentice Hall, 2004Business In Action 2eChapter Leadership Skills Self-awareness Self-regulation Motivation Empathy Social skills

© Prentice Hall, 2004Business In Action 2eChapter Leadership Styles Autocratic Democratic Laissez-faire Contingency

© Prentice Hall, 2004Business In Action 2eChapter Continuum of Leader Behavior Manager makes decision Manager sells decision Manager presents ideas Manager makes tentative decision Manager presents problem Manager sets decision limits Employees make decision

© Prentice Hall, 2004Business In Action 2eChapter Additional Leadership Functions Coaching Mentoring Managing change

© Prentice Hall, 2004Business In Action 2eChapter Corporate Culture Company values People Communication Community involvement Employee performance

© Prentice Hall, 2004Business In Action 2eChapter Function 4: Controlling Monitoring progress Resetting the course Correcting deviations

© Prentice Hall, 2004Business In Action 2eChapter The Control Cycle Set strategic goals 1.Set standards 2.Measure performance 3.Compare to standard 4.Inadequate take action –Correct performance –Reevaluate standards 4.Adequate take no action

© Prentice Hall, 2004Business In Action 2eChapter What Is Total Quality Management? Employee involvement Customer focus Benchmarking Continuous improvement

© Prentice Hall, 2004Business In Action 2eChapter Important Points of TQM Create constancy of purpose for improvement Reject mistakes and negativism Cease dependence on mass inspection Do not award business on price alone Constantly improve production and service Institute training Institute leadership

© Prentice Hall, 2004Business In Action 2eChapter Important Points of TQM Drive out fear Break down barriers between units Eliminate slogans, exhortations, and targets Eliminate numerical quotas Remove barriers to pride in work Institute rigorous education and training Take action to accomplish the transformation

© Prentice Hall, 2004Business In Action 2eChapter Management Skills Interpersonal Technical Administrative Conceptual