1. Management in the Marketplace

2. Overview Skills and competencies successful managers possess
The importance the marketplace puts on managers
Why management is worth studying
How management relates to other disciplines of study
Chapter 1 Lesson 2

3. Quick Write
How would courses in such subjects as psychology or philosophy help you understand management?
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4. Skills and Competencies of Successful Managers
Chapter 1 Lesson 2
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5. General Skills
Conceptual Skills are the mental abilities to analyze and diagnose complex situations
Interpersonal Skills are the abilities to work with, understand, mentor, and motivate people
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6. General Skills
Technical Skills involve the ability to use tools, procedures, and techniques in the manager’s specialized field
Political Skills are the abilities to build a power base and establish connections
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7. What Do You Think?
How would a lack of interpersonal skills affect a manager’s ability to be successful?
Are interpersonal skills more important than cognitive, technical, or political skills?
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8. Specific Skills
Controlling the organization’s environment and resources
Organizing and coordinating
Handling information
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9. Specific Skills Providing for growth and development
Motivating employees and handling conflict
Strategic problem solving
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10. Management Competencies
Management competencies are a cluster of knowledge, skills, and attitudes related to effective managerial performance
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11. Management Competencies
Initiate-implement change and improvement of services, products, systems
Monitor-maintain and improve service and product delivery
Monitor and control the use of resources
Secure effective resource allocation for activities and projects
Recruit and select personnel
Develop teams, individuals, and self to enhance performance
Plan, allocate, and evaluate work carried out by teams, individuals, and self
Create, maintain, and enhance effective working relationships
Seek, evaluate, and organize information for action
Exchange information to solve problems and make decisions
Adapted from Fundamentals of Management, 5th Ed. By Robbins/DeCenzo, p. 17
Pearson Prentice Hall, 2005
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12. The Importance of Managers in the Marketplace
Good managers can turn straw into gold
Poor managers can ruin everything they touch
Organizations are willing to spend a lot to get and keep good managers
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13. The Importance of Managers in the Marketplace
Top executives can earn tens of millions of dollars a year in salary and other benefits.
Taken from Fundamentals of Management, 5th Ed. By Robbins/DeCenzo, p. 18
Pearson Prentice Hall, 2005
Chapter 1 Lesson 2

14. The Importance of Managers in the Marketplace
Ethical Dilemma
Are US managers overpaid?
The leaders of major corporations receive, according to one estimate, an average of more than $60 million a year. Is that fair? Is it right?
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15. What Do You Think?
How will studying management help you better understand your organization, and maybe even your boss?
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16. Why Management is Worth Studying
Everyone deals with organizations every day
In your career, you will either manage or be managed
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17. How Management Relates to Other Disciplines of Study
Anthropology is the study of societies
Economics is about the allocation and distribution of scarce resources
Philosophy looks into the nature of things, especially values and ethics
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18. How Management Relates to Other Disciplines of Study
Political science considers the behavior of individuals and groups within a political environment
Psychology is the science that seeks to measure, explain, and sometimes change human or animal behavior
Sociology is the study of people in relation to one another
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19. How Management Relates to Other Disciplines of Study
Benefits of Studying Anthropology
Understand cultures and civilizations
Understand people better
Sheds light on differences in values, attitudes, and behaviors between people in different countries and organizations
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20. How Management Relates to Other Disciplines of Study
Benefits of Studying Economics
Understand the changing economy
Understand the role of competition
Understand the free market
Understand protectionism
protecting American producers and manufacturers by limiting the import of foreign products
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21. How Management Relates to Other Disciplines of Study
Benefits of Studying Philosophy
Understand the nature of things, especially values and ethics
John Locke proposed the liberty ethic that freedom, equality, justice, and private property are legal rights
John Calvin proposed the Protestant work ethic that encouraged people to be frugal (thrifty), to work hard, and to attain success
Adam Smith’s market ethic argued that competitive forces, not the government, should regulate the economy
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22. How Management Relates to Other Disciplines of Study
Benefits of Studying Political Science
Understand the structure of conflict
Understand the allocation of power
Understand the manipulation of power for individual self-interest
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23. How Management Relates to Other Disciplines of Study
Benefits of Studying Psychology
Understand motivation, leadership, and trust
Understand employee selection
Understand performance appraisal techniques
Understand training techniques
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24. How Management Relates to Other Disciplines of Study
Benefits of Studying Sociology
Understand cultural diversity
Understand changing gender roles
Understand globalization
Understand new forms of family life
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25. Review
Successful managers develop cognitive, interpersonal, technical, and political skills.
Good managers can turn straw into gold, but poor managers can ruin everything they touch
Organizations are willing to spend a lot to get and keep good managers
Studying management will help you better understand your organization, and maybe even your boss
Chapter 1 Lesson 2

26. Review
Studying anthropology, psychology, and sociology helps us understand culture and people better
Studying economics helps us understand economies, competition, the free market, and protectionism
Studying philosophy helps us understand the liberty ethic, the work ethic, and the market ethic
Studying political science helps us understand conflicts, the allocation of power, and the manipulation of power for individual self-interest
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27. Summary Skills and competencies successful managers possess
The importance the marketplace puts on managers
Why management is worth studying
How management relates to other disciplines of study
Chapter 1 Lesson 2

28. What’s Next… Management Theories Chapter 1 Lesson 2
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