© Prentice Hall, 2007Excellence in Business, 3eChapter From Planning to Inspiration: The Functions of Management

© Prentice Hall, 2007Excellence in Business, 3eChapter Managerial Functions Planning Organizing Leading Controlling

© Prentice Hall, 2007Excellence in Business, 3eChapter The Roles of Management Interpersonal Informational Decisional

© Prentice Hall, 2007Excellence in Business, 3eChapter The Planning Function Develop strategies for success Set goals and objectives Develop action plans

© Prentice Hall, 2007Excellence in Business, 3eChapter The Planning Process Develop a clear vision Create a mission statement Perform SWOT analysis Develop forecasts Analyze the competition Set goals and objectives Develop action plans

© Prentice Hall, 2007Excellence in Business, 3eChapter Clarity of Vision Development Communication Execution Modification

© Prentice Hall, 2007Excellence in Business, 3eChapter The Mission Statement Objectives Goals Philosophies

© Prentice Hall, 2007Excellence in Business, 3eChapter SWOT Analysis Strengths Weaknesses Opportunities Threats

© Prentice Hall, 2007Excellence in Business, 3eChapter Managerial Forecasts Qualitative forecasting –Intuitive judgments –Consumer research Quantitative forecasting –Historical data –Statistical computations

© Prentice Hall, 2007Excellence in Business, 3eChapter Competitive Analysis Differentiation strategy Cost leadership strategy Focus strategy

© Prentice Hall, 2007Excellence in Business, 3eChapter Company Goals and Objectives Goals –Broad, long-range Objectives –Specific, short-range Benefits –Boosts motivation –Sets standards –Guides activity –Clarifies expectations

© Prentice Hall, 2007Excellence in Business, 3eChapter Action Plans Tactical plans Operational plans

© Prentice Hall, 2007Excellence in Business, 3eChapter Planning for a Crisis Minimize damage –Contingency plans Maintain operations –Open communications

© Prentice Hall, 2007Excellence in Business, 3eChapter The Organizing Function Employee activities Facilities and equipment Decision making Supervision Resource distribution

© Prentice Hall, 2007Excellence in Business, 3eChapter The Management Pyramid Top managers Middle managers First-line managers

© Prentice Hall, 2007Excellence in Business, 3eChapter The Leading Function Managers –Position power Leaders –Personal power

© Prentice Hall, 2007Excellence in Business, 3eChapter Leadership Qualities Intelligence quotient (IQ) Emotional quotient (EQ) Social quotient (SQ) Change quotient (CQ)

© Prentice Hall, 2007Excellence in Business, 3eChapter Leadership Styles Autocratic Democratic Laissez-faire Contingency

© Prentice Hall, 2007Excellence in Business, 3eChapter 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, 2007Excellence in Business, 3eChapter Types of Leaders Transactional –Meeting established goals –Clarifying organizational roles –Securing correct resources Transformational –Inspiring employees –Finding creative solutions –Promoting success

© Prentice Hall, 2007Excellence in Business, 3eChapter Additional Leadership Functions Coaching Mentoring

© Prentice Hall, 2007Excellence in Business, 3eChapter Managing Change Identify what needs to change Identify forces for and against change Select the best approach Reinforce and monitor behavior

© Prentice Hall, 2007Excellence in Business, 3eChapter Organizational Culture Attitudes about work Appropriate attire Employee interactions Communication patterns Business conduct

© Prentice Hall, 2007Excellence in Business, 3eChapter The Controlling Function Monitoring progress Resetting the course Correcting deviations

© Prentice Hall, 2007Excellence in Business, 3eChapter 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, 2007Excellence in Business, 3eChapter Management Skills Interpersonal Technical Administrative Conceptual Decision-making

© Prentice Hall, 2007Excellence in Business, 3eChapter The Decision-Making Process Recognize and define situation Identify options Analyze options Select the best option Implement the decision Monitor and evaluate the results