1. Managing and Performing Chapter One McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.

2. Learning Objectives LO 1 Summarize the major challenges of managing in the new competitive landscape. LO 2 Describe the sources of competitive advantage for a company. LO 3 Explain how the functions of management are evolving in today’s business environment. LO 4 Compare how the nature of management varies at different organizational levels. LO 5 Define the skills you need to be an effective manager. LO 6 Discuss the principles that will help you manage your career. 1-2

3. Globalization  Today’s enterprises are global, with offices and production facilities in countries all over the world  Means that a company’s talent can come from anywhere  Internet makes globalization inevitable 1-3

4. Knowledge Management  Knowledge management  Practices aimed at discovering and harnessing an organization’s intellectual resources 1-4

5. The Functions of Management  Management  The process of working with people and resources to accomplish organizational goals  Efficiently, effectively 1-5

6. The Functions of Management  Planning  Systematically making decisions about the goals and activities that an individual, a group, a work unit, or the overall organization will pursue  analyzing current situations, anticipating the future, determining objectives, deciding in what types of activities the company will engage 1-6

7. The Functions of Management  Organizing  assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals  specifying job responsibilities, grouping jobs into work units, marshaling and allocating resources, 1-7

8. The Functions of Management  Leading  stimulating people to be high performers  Controlling  monitoring performance and making needed changes. 1-8

9. Performing All Four Management Functions  Good managers devote adequate attention and resources to all four management functions. 1-9

10. Management Levels and Skills  Top-level managers  Senior executives responsible for the overall management and effectiveness of the organization.  Middle-level managers  Managers located in the middle layers of the organizational hierarchy, reporting to top- level executives. 1-10

11. Management Levels and Skills  Frontline managers  Lower-level managers who supervise the operational activities of the organization 1-11

12. Transformation of Management Roles and Activities 1-12 Table 1.1

13. Management Skills  Technical skill  The ability to perform a specialized task involving a particular method or process 1-13

14. Management Skills  Conceptual and decision skills  Skills pertaining to the ability to identify and resolve problems for the benefit of the organization and its members. 1-14

15. Managerial Action Is Your Opportunity to Contribute 1-15 Figure 1.2