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Managing and Performing Chapter One Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.
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1-2 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
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1-3 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
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1-4 Technological Change: The Internet Marketplace Means for manufacturing goods and services Distribution channel An information service
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1-5 Technological Change: The Internet Drives down costs and speeds up globalization. Improves efficiency of decision making. Facilitates design of new products, from pharmaceuticals to financial services
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1-6 Knowledge Management Knowledge management Practices aimed at discovering and harnessing an organization’s intellectual resources
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1-7 Knowledge Management Knowledge workers Workers whose primary contributions are ideas and problem-solving expertise Knowledge managers find these human assets, help people collaborate and learn, help people generate new ideas, and harness those ideas into successful innovations.
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1-8 Knowledge Management Knowledge management is about finding, unlocking, sharing, and altogether capitalizing on the most precious resources of an organization: people’s expertise, skills, wisdom, and relationships.
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1-9 Collaboration across Boundaries Requires productive communications among different departments, divisions, or other subunits of the organization
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1-10 Collaboration across “Boundaries” Companies today must motivate and capitalize on the ideas of people outside the organization e.g. its consultants, ad agencies, and suppliers Companies must realize that the need to serve the customer drives everything else
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1-11 Managing for Competitive AdvantageInnovationQualityService Speed Cost Competitiveness Sustainability
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1-12 Question ___________ is the fast and timely execution, response, and delivery of results. A. Innovation B. Quality C. Speed D. Service
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1-13 Managing for Competitive Advantage Innovation the introduction of new goods and services A firm must: adapt to changes in consumer demands and to new competitors. be ready with new ways to communicate with customers and deliver the products to them.
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1-14 Managing for Competitive Advantage Quality The excellence of your product (goods or services) Historically, quality referred to attractiveness, lack of defects, reliability, and long-term dependability
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1-15 Managing for Competitive Advantage Today quality is about preventing defects before they occur, achieving zero defects in manufacturing, and designing products for quality
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1-16 Managing for Competitive Advantage Service giving customers what they want or need, when they want it focused on continually meeting the needs of customers to establish mutually beneficial long- term relationships. Speed Fast and timely execution, response, and delivery of results.
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1-17 Managing for Competitive Advantage Cost competitiveness Keeping costs low to achieve profits and be able to offer prices that are attractive to consumers.
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1-18 Managing for Competitive Advantage Sustainability The effort to minimize the use of resources, especially those that are polluting and nonrenewable.
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1-19 The Functions of Management Management The process of working with people and resources to accomplish organizational goals Efficiently, effectively
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1-20 Question ____________ is monitoring performance and making needed changes. A. Planning B. Organizing C. Leading D. Controlling
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1-21 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
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1-22 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, and creating conditions so that people and things work together to achieve maximum success
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1-23 The Functions of Management Leading stimulating people to be high performers Controlling monitoring performance and making needed changes.
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1-24 Performing All Four Management Functions A typical day for a manager is not neatly divided into the four functions Days are busy and fractionated, and spent dealing with interruptions, meetings, and firefighting
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1-25 Performing All Four Management Functions Good managers devote adequate attention and resources to all four management functions.
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1-26 Management Levels and Skills Top Level Managers Middle-Level Managers Frontline Managers
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1-27 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.
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1-28 Management Levels and Skills Frontline managers Lower-level managers who supervise the operational activities of the organization
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1-29 Transformation of Management Roles and Activities Table 1.1
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1-30 Managerial Roles: What Managers Do Table 1.2
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1-31 Question Which management skill is the ability to lead, motivate, and communicate effectively with others? A. Technical B. Conceptual C. Decision D. Interpersonal
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1-32 Management Skills Technical skill The ability to perform a specialized task involving a particular method or process
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1-33 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.
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1-34 Management Skills Interpersonal and communication skills People skills; the ability to lead, motivate, and communicate effectively with others.
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1-35 You and Your Career Emotional intelligence The skills of understanding yourself, managing yourself, and dealing effectively with others. Social capital Goodwill stemming from your social relationships
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1-36 You and Your Career Be both a specialist and a generalist Be self-reliant Connect Actively manage your relationship with your organization Survive and thrive
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1-37 Two Relationships: Which Will You Choose? Figure 1.1
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1-38 Managerial Action Is Your Opportunity to Contribute Figure 1.2
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1-39 Common Practices of Successful Executives They ask “What needs to be done?” not just “What do I want to do?” They write an action plan. They don’t just think, they do, based on a sound, ethical plan. They take responsibility for decisions. They focus on opportunities rather than problems.
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1-40 CH2M-Hill How does CH2M-Hill use knowledge management to operate it’s global business?
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