1. NOT a quiz! How many specific responsibilities do most managers have?10
Name ONE of the Decisional roles (used in planning strategy and utilizing resources)
Entrepreneur, Disturbance Handler, Resource Allocator, Negotiator
Name ONE of the Interpersonal roles (provides direction and supervision)
Figurehead, Leader, Liaison
Name ONE of the Informational Roles (obtain and transmit information)
Monitor, Disseminator, Spokesperson

2. NOT a quiz! Which level of manager spends the most time planning?
Top manager
Which level of manager spends the most time leading?
First-line manager
What are 3 important managerial skills?
Conceptual, Human and Technical

3. Managers and Managing chapter one lecture 3 McGraw-Hill/Irwin
Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved.

4. Restructuring Restructuring Outsourcing
Involves simplifying, shrinking, or downsizing an organization’s operations to lower operating costs
Outsourcing
Contracting with another company, usually in a low cost country abroad, to perform a work activity the company previously performed itself
Restructuring can reduce the morale of remaining employees
Outsourcing increases efficiency by lowering operating costs, freeing up money and resources that can now be used in more effective ways

5. Empowerment Empowerment Self-Managed teams
Involves giving employees more authority and responsibility over the way they perform their work activities
Self-Managed teams
Groups of employees who assume collective responsibility for organizing, controlling, and supervising their own work activities
Self-managed team - Groups of employees who assume collective responsibility for organizing, controlling, and supervising their own work activities

6. Challenges for Management in a Global Environment
Building a Competitive Advantage
Maintaining Ethical Standards
Managing a Diverse Workforce
Utilizing Information Technology
Global Crisis Management

7. Building Competitive Advantage
ability of one organization to outperform other organizations because it produces desired goods or services more efficiently and effectively than its competitors
Innovation
The process of creating new or improved goods and services or developing better ways to produce or provide them.

8. Building Blocks of Competitive Advantage
Increasing efficiency
Reduce the quantity of resources used to produce goods or services
Increasing Quality
Improve the skills and abilities of the workforce
Introduce total quality management
Increasing speed, flexibility, and innovation
How fast a firm can bring new products to market
How easily a firm can change or alter the way they perform their activities
Innovation
Process of creating new or improved goods and services that customers want
Developing better ways to produce or provide goods and services
Figure 1.6

9. Turnaround Management
creation of a new vision for a struggling company using a new approach to planning and organizing to make better use of a company’s resources to allow it to survive, and eventually prosper

10. Maintaining Ethical and Socially Responsible Standards
Managers are under considerable pressure to make the best use of resources
Too much pressure may induce managers to behave unethically, and even illegally

11. Managing a Diverse Workforce
To create a highly trained and motivated workforce managers must establish HRM procedures that are legal, fair and do not discriminate against organizational members

12. Global Crisis Management
May be the result of:
Natural causes
Manmade causes
International terrorism
Geopolitical conflicts