Business Management

The Scope of Management What is management? What are the specific tasks and responsibilities of management?

What is Management? D EFINITION T ASKS / R ESPONSIBILITIES Ensuring that the __________ works Making sure people ________________ Making sure business is __________ – prices, profit, customer service _______ – multiple steps & keeps going Quality Pricing Customer’s needs Imports / exports Marketing Need for product

Today’s Objectives  We will describe management roles, functions, and skills.

What is Management? List a word that comes to mind when you hear the word “management”.

Four Functions of Management _________ ___________ ____________ ___________

Planning ________ information and making decisions about what needs to be done

Organizing ________ how plans can be accomplished most effectively _______ resources to complete work Includes _______

Implementing ________ out the plans Helping employees to work ________ More __________ management activities

Controlling _________ results to determine if the company’s ________ have been accomplished as planned

Management Skills What are the skills used to efficiently channel resources and resolve conflict? What types of skills do you think managers should have?

Skills Managers Need ____________ Skills __________ Skills _________ Skills __________ Skills ___________ Skills

Summary What is management? What are the Functions of Management?

It is the responsibility of the ________ & ________ to define the goals of the company and ______ its purpose. Consider the _____ & _______ statements of some of today’s biggest companies.

Business Management

Last Class... We described management roles, functions, and skills

Today’s Objectives  We will identify benefits and limitations of a variety of leadership and management styles.  We will analyze leadership & management styles in a variety of business situations.  We will compare self-assessment of personal traits with those common to effective managers in various work environments.

Think About It… What makes a good manager? Are managers & leaders the same thing? Think of a good manager/leader you have worked with. What were some of their attributes that made them good?

What’s the difference? Management Leadership The _____ used to ______ channel _______ and ______ conflict. The ___ that ______ ______ to accomplish common goals.

How do you become a leader? Let’s consider leadership theories... Someone may become a leader by: ___________ ________ __________

____________ This type of leader has been given the right to achieve the objectives or goals of an organization. This leader’s power is obtained via appointment. Managers are the appointed leaders of a business.

_________ This type of leader has extensive knowledge or expertise in the field. This leader’s power is derived from respect. Experts in finance, for example, are the respected leaders of their field.

__________ This type of leader is able to bring others together and motivate them, usually for a cause. This leader’s power is derived from emotion. Many successful activities earned the spotlight because of their charisma.

Regardless of how someone obtained their leadership, each leader demonstrates characteristics of a leadership style. What’s your style? Take the survey!

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Leadership Styles Survey All leadership styles are good – one is not more important or better than another. It is important to understand leadership styles in order to be able to work with all personality types effectively. In your group, come up with 3 attributes of your group’s leadership style and a famous person who might share the same style.

____________ Characterized by giving clear and precise directions as to what is to be done. Considered “classic” leadership. Managers retain as much power and decision- making as possible.

Using Autocratic Leadership Most Effective When... Should Not Use When... New, untrained staff Detailed orders and instructions Limited time to make a decision Manager’s power is challenged by staff Staff becomes tense, fearful, or resentful Staff expects their opinions to be heard Low staff morale or productivity High turnover and absenteeism

___________ Characterized by encouraging workers to share their ideas Allows employees to make some decisions or give input Keeps staff informed about everything that affects their work

Using Democratic Leadership Most Effective When... Should Not Use When... Want to provide opportunities for staff to develop Want to encourage job satisfaction Large, complex problems Changes must be made or problems solved that affect the staff Want to encourage team building and participation Not enough time to get everyone’s input Easier or more cost- effective for the manager to make the decision Can’t afford mistakes Staff safety is a critical concern

_______ Also known as Laissez- Faire leadership Characterized by giving little or no direction to the employees Employees are trusted to make decisions and resolve problems on their own.

Using Open Leadership Most Effective When... Should Not Use When... Staff is highly skilled, experience, and educated Staff have pride in their work and the drive to be successful Outside experts or consultants are used Staff is trustworthy Staff feels insecure that the manager is not accessible Manager cannot provide regular feedback Manager is unable to thank staff Manager does not understand his/her own responsibilities

Leadership Style Variations

___________ A good leader changes intuitively between styles according to the people they work with and the current situation at hand. Select a style that best fits the circumstances of the moment!

Given the four situations on your worksheet, decide which style of leadership (autocratic, democratic, or open) would be most effective.

Summary Management vs. Leadership Leadership Theories How does someone become a leader? Leadership Styles