© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter Functions and Skills of Management

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter Managerial Functions Planning Organizing Leading Controlling

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter The Roles of Management Interpersonal Informational Decisional

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter The Planning Function Develop strategies for success Set goals and objectives Develop action plans

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter Strategic Planning vMarket standing vInnovation vHuman resources vFinancial resources vPhysical resources vProductivity vSocial responsibility vFinancial performance

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter The Strategic Planning Process Develop vision Write mission statement Perform SWOT analysis Develop forecasts Analyze competition Establish goals and objectives Develop action plans

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter Clarity of Vision Development Communication Execution Modification

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter The Mission Statement Purpose Goals Philosophies

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter SWOT Analysis Strengths Weaknesses Opportunities Threats

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter Managerial Forecasts Qualitative forecasting –Intuitive judgments –Consumer research Quantitative forecasting –Historical data –Statistical computations

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter Competitive Analysis Differentiation strategy Cost leadership strategy Focus strategy

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter Company Goals and Objectives Goals –Broad, long-range Objectives –Specific, short-range Benefits –Boosts motivation –Sets standards –Guides activity –Clarifies expectations

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter Action Plans Tactical plans Operational plans

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter Crisis Management Minimize damage –Contingency plans Maintain operations –Open communications

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter The Organizing Function Employee activities Facilities and equipment Decision making Supervision Resource distribution

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter The Management Pyramid Top managers Middle managers First-line managers

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter The Leading Function Influencing people Motivating people

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter Leadership Skills Emotional Quotient (EQ) –Self-awareness –Self-regulation –Motivation –Empathy –Social skills

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter Leadership Styles Autocratic Democratic Laissez-faire Contingency

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 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, 2005Excellence in Business, Revised Edition Chapter Additional Leadership Functions Coaching Mentoring Managing change

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter Corporate Culture Company values People Communication Community involvement Employee performance

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter The Controlling Function Monitoring progress Resetting the course Correcting deviations

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 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, 2005Excellence in Business, Revised Edition Chapter Management Skills Interpersonal Technical Administrative Conceptual Decision-making

© Prentice Hall, 2005Excellence in Business, Revised Edition Chapter The Decision-Making Process Recognize and define the situation Identify options Analyze options Select the best option Implement the decision Monitor and evaluate the results