MANAGEMENT FUNCTIONS NOTES

WHAT IS THE ROLE & WORK OF A MANAGER?

ROLE & PURPOSE MANAGEMENT – THE PROCESS OF ACCOMPLISHING THE GOALS OF A COMPANY THROUGH THE EFFECTIVE USE OF PEOPLE AND OTHER RESOURCES. WHAT DO MANAGERS DO? PLANNING – ANALYZING INFO, SETTING GOALS, MAKING DECISIONS ABOUT WHAT NEEDS TO BE DONE ORGANIZING – IDENTIFYING AND ARRANGING WORK AND RESOURCES TO MEET GOALS STAFFING – OBTAINING, PREPARING, AND PAYING EMPLOYEES IMPLEMENTING – THE EFFORT TO DIRECT AND LEAD PEOPLE TO ACCOMPLISHING PLANNED WORK CONTROLLING – DETERMINES HOW CLOSE THE BUSINESS IS TO MEETING ITS PLANNED GOALS

LEVELS OF MANAGEMENT Executives - responsible for the success of the entire company. CEO, CFO, CIO Spend most of their time planning and controlling Top Management Specialists with responsibilities for specific parts of a business. Spend most of their time organizing, staffing, implementing. Middle Management First level of management. Responsible for the day – to – day of a small group of employees. Spend most of their time implementing the plans of mid and top management Supervisors

MANAGEMENT STYLES NOTES

Managers have the same task as members of a team! They have to make sure they coordinate everyone’s talents so the organization performs to it’s greatest potential!! Managers approach the task of directing a group in different ways based on their management style!

MANAGEMENT STYLES AutocraticPaternalisticDemocraticLaissez-Faire

LAISSEZ-FAIRE THIS STYLE IS OFTEN SOMETIMES CALLED THE “HANDS-OFF” STYLE. THE LEADER'S ROLE IS EXTERIOR AND STAFF MANAGE THEIR OWN AREAS OF THE BUSINESS THE MANAGER GIVES LITTLE OR NO DIRECTION AND GIVES THE EMPLOYEES AS MUCH FREEDOM AS POSSIBLE. THE COMMUNICATION IN THIS STYLE IS HORIZONTAL, MEANING THAT IT IS EQUAL IN BOTH DIRECTIONS, HOWEVER VERY LITTLE COMMUNICATION OCCURS IN COMPARISON WITH OTHER STYLES. THE STYLE BRINGS OUT THE BEST IN HIGHLY PROFESSIONAL AND CREATIVE GROUPS OF EMPLOYEES IT TAKES A VERY EFFICIENT MANAGER TO BE ABLE TO USE THIS CAN BE USEFUL WHEN EMPLOYEES ARE VERY EDUCATED AND EXPERIENCED, SELF-MOTIVATED AND TAKE PRIDE IN THEIR WORK, EMPLOYEES ARE TRUSTWORTHY AND CREATIVE, All authority is given to employees and they must learn to make decisions, resolve problems, and determine goals on their own This leads to a lack of staff focus and sense of direction, which in turn leads to much dissatisfaction, and a poor company image

DEMOCRATIC THE MANAGER ALLOWS THE EMPLOYEES TO TAKE PART IN DECISION-MAKING THEREFORE EVERYTHING IS AGREED BY THE MAJORITY. THE COMMUNICATION IS EXTENSIVE IN BOTH DIRECTIONS (FROM EMPLOYEES TO LEADERS AND VICE-VERSA). USEFUL WHEN COMPLEX DECISIONS NEED TO BE MADE THAT REQUIRE A RANGE OF SPECIALIST SKILLS MANAGERS PUT TRUST IN THEIR EMPLOYEES AND ENCOURAGE THEM TO MAKE DECISIONS. MANAGERS WHO USE A DEMOCRATIC STYLE MUST BE WILLING TO ENCOURAGE THE DEVELOPMENT OF LEADERSHIP SKILLS WITHIN THEIR EMPLOYEES. job satisfaction and quality of work will improve the decision-making process is severely slowed down, and the need of a consensus may avoid taking the 'best' decision for the business.

PATERNALISTIC ESSENTIALLY DICTATORIAL (THINK OF A DICTATORSHIP), DECISIONS TAKE INTO ACCOUNT THE BEST INTERESTS OF EMPLOYEES AS WELL AS THE BUSINESS. THE LEADER EXPLAINS DECISIONS TO EMPLOYEES AND ASSURES THAT THEIR NEEDS ARE MET. MANAGER TAKES THE TIME TO EXPLAIN TO EMPLOYEES WHY DECISIONS ARE MADE, AND LOOKS FOR HARMONY WITHIN THE TEAM. MANAGERS WHO USE THIS STRATEGY WILL CONSULT WITH EMPLOYEES, BUT IN THE END THE DECISION IS STILL THE MANAGERS TO MAKE. THE PATERNALISTIC MANAGER ACTS AS THE HEAD OF A FAMILY WOULD BY TRYING TO MAKE THE BEST DECISIONS FOR THE BUSINESS AND THE EMPLOYEES. COMMUNICATION GENERALLY FLOWS DOWNWARD FROM TOP-LEVEL MANAGEMENT TO THE LOWEST-LEVEL EMPLOYEE, BUT FEEDBACK FROM EMPLOYEES TO MANAGERS IS ENCOURAGED TO MAINTAIN EMPLOYEE MORALE. encourages loyalty from employees resulting in a lower employee turnover rate the employees can still overly depend on their leaders

AUTOCRATIC MANAGER MAKES DECISIONS, WITHOUT MUCH REGARD FOR EMPLOYEES. DECISIONS MADE IN THE BUSINESS REFLECT THE ATTITUDE, OPINION, AND PERSONALITY OF THE MANAGER THIS CAN PROJECT AN IMAGE OF A CONFIDENT, WELL MANAGED BUSINESS. THIS CAN CAUSE EMPLOYEES TO BECOME OVERLY DEPENDENT UPON THEIR LEADERS, AND MORE SUPERVISION MAY BE NEEDED. EMPLOYEES ARE NOT EMPOWERED TO MAKE DECISIONS REGARDING THE OPERATIONS OF THE BUSINESS. CAN BE VERY USEFUL WHEN THERE IS LIMITED TIME TO MAKE A DECISION, THE MANAGER’S POWER IS CHALLENGED BY AN EMPLOYEE, THERE ARE NEW, UNTRAINED EMPLOYEES WHO DO NOT KNOW WHICH TASKS TO COMPLETE, OR THERE ARE HIGH- VOLUME PRODUCTION NEEDS ON A DAILY BASIS. Employees appreciate during stressful times because the pressure is taking off of employees and left up to decision makers. Morale can be low because employees feel like their opinions are not important.

LEADERSHIP & ETHICS NOTES

ETHICS – MORALS OR PERSONAL RULES FOR CONDUCT

WHAT ARE BUSINESS ETHICS? DEFINITION: RULES ABOUT HOW BUSINESSES AND THEIR EMPLOYEES OUGHT TO BEHAVE. CORE VALUES– A SET OF WRITTEN RULES GUIDING EMPLOYEE ACTIONS WORDED AS ACCEPTABLE BEHAVIOR NOT PROHIBITED BEHAVIOR It is lawful Not intended to harm a few so others can benefit Consistent with company values and policies If results became public, the company would not look bad

WHO IS RESPONSIBLE FOR ETHICAL BEHAVIOR? EVERYONE IN THE COMPANY BUT… IT STARTS WITH THE CORPORATE EXECUTIVES AND MANAGEMENT.

COMMON CONCERN THE MOST COMMON ETHICAL CONCERN IS A CONFLICT OF INTEREST. OCCURS WHEN THE ACTION BY A COMPANY OR INDIVIDUAL RESULTS IN AN UNFAIR BENEFIT. EXAMPLE: JOSEPH SERVES ON THE MVISD SCHOOL BOARD. JOSEPH ENCOURAGES SCHOOLS TO BUY ALL OFFICE PRODUCTS FROM THE LOCAL OFFICE SUPPLY COMPANY, WHICH HIS BROTHER OWNS.

BASIC MODEL FOR ETHICAL DECISION MAKING 1. Identify the Problem2. Identify all parties involved3. Diagnose your options4. Analyze the cost and benefits of your options5. Act on your decision

WHAT IS LEADERSHIP BY MANAGEMENT? DEFINITION: THE ABILITY TO MOTIVATE LEADERS AND GROUPS TO ACCOMPLISH IMPORTANT GOALS. Characteristics of Effective Leaders Understanding Dependable Confident Stable Cooperative Honest Courageous Good Communicator Intelligent

HOW CAN LEADERS INFLUENCE OTHERS? Informal Influence Power resulting from the personal characteristics of the leader Formal Influence Power based on a person’s position within an organization.