© Prentice Hall, 2005Business In Action 3eChapter Understanding the Functions and Roles of Management

© Prentice Hall, 2005Business In Action 3eChapter Managerial Functions Planning Organizing Leading Controlling

© Prentice Hall, 2005Business In Action 3eChapter The Roles of Management Interpersonal Informational Decisional

© Prentice Hall, 2005Business In Action 3eChapter The Planning Function Develop strategies for success Set goals and objectives Develop action plans

© Prentice Hall, 2005Business In Action 3eChapter Strategic Planning vMarket standing vInnovation vHuman resources vFinancial resources vPhysical resources vProductivity vSocial responsibility vFinancial performance

© Prentice Hall, 2005Business In Action 3eChapter 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, 2005Business In Action 3eChapter Clarity of Vision Development Communication Execution Modification

© Prentice Hall, 2005Business In Action 3eChapter The Mission Statement Objectives Goals Philosophies

© Prentice Hall, 2005Business In Action 3eChapter Managerial Forecasts Qualitative forecasting –Intuitive judgments –Consumer research Quantitative forecasting –Historical data –Statistical computations

© Prentice Hall, 2005Business In Action 3eChapter SWOT Analysis Strengths Weaknesses Opportunities Threats

© Prentice Hall, 2005Business In Action 3eChapter Competitive Analysis Differentiation strategy Cost leadership strategy Focus strategy

© Prentice Hall, 2005Business In Action 3eChapter Company Goals and Objectives Goals –Broad, long-range Objectives –Specific, short-range Benefits –Boosts motivation –Sets standards –Guides activity –Clarifies expectations

© Prentice Hall, 2005Business In Action 3eChapter Action Plans Tactical plans Operational plans

© Prentice Hall, 2005Business In Action 3eChapter Planning for a Crisis Corporate power struggles Operational breakdowns Product failures Environmental accidents

© Prentice Hall, 2005Business In Action 3eChapter The Organizing Function Employee activities Facilities and equipment Decision making Supervision Resource distribution

© Prentice Hall, 2005Business In Action 3eChapter The Management Pyramid Top managers Middle managers First-line managers

© Prentice Hall, 2005Business In Action 3eChapter The Leading Function Influencing and motivating Obtaining corporate goals

© Prentice Hall, 2005Business In Action 3eChapter Leadership Skills Self-awareness Self-regulation Motivation Empathy Social skills

© Prentice Hall, 2005Business In Action 3eChapter Leadership Styles Autocratic Democratic Laissez-faire Contingency

© Prentice Hall, 2005Business In Action 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, 2005Business In Action 3eChapter Types of Leaders Transactional –Meeting established goals –Clarifying organizational roles –Securing correct resources Transformational –Inspiring employees –Finding creative solutions –Promoting success

© Prentice Hall, 2005Business In Action 3eChapter Additional Leadership Functions Coaching Mentoring

© Prentice Hall, 2005Business In Action 3eChapter Managing Change Identify what needs to change Identify forces for and against change Select the best approach Reinforce and monitor behavior

© Prentice Hall, 2005Business In Action 3eChapter Corporate Culture Attitudes about work Appropriate attire Employee interactions Communication patterns Business conduct

© Prentice Hall, 2005Business In Action 3eChapter The Controlling Function Monitoring progress Resetting the course Correcting deviations

© Prentice Hall, 2005Business In Action 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, 2005Business In Action 3eChapter What Is Total Quality Management? Employee involvement Customer focus Benchmarking Continuous improvement

© Prentice Hall, 2005Business In Action 3eChapter 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, 2005Business In Action 3eChapter Management Skills Interpersonal Technical Administrative Conceptual