1. Managing Chapter 01 McGraw-Hill/Irwin

2. TRENDS: 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

3. TRENDS: Technological Change & the Internet  Marketplace  Means for manufacturing goods and services  Distribution channel  Information media

4. TRENDS: 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

5. TRENDS: Knowledge Management  Knowledge management  Practices aimed at discovering and harnessing an organization’s intellectual resources  Knowledge workers

6. TRENDS: Collaboration across “Boundaries”  Requires productive communications among different departments, divisions, or other subunits of the organization

7. TRENDS: 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

8. Managing for Competitive Advantage InnovationQuality ServiceSpeed Cost Competitiveness

9. Question ___________ is the fast and timely execution, response, and delivery of results. A.Innovation B.Quality C.Speed D.Service

10. Managing for Competitive Advantage  Innovation  the introduction of new goods and services  often the most important innovation is not the product itself, but how it is delivered

11. 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

12. Managing for Competitive Advantage  Today quality is about preventing defects and having continuous improvement in how the firm operates

13. Managing for Competitive Advantage  Service  The speed and dependability with which an organization delivers what customers want

14. Managing for Competitive Advantage  Speed  Fast and timely execution, response, and delivery of results.

15. Managing for Competitive Advantage  Cost competitiveness  Keeping costs low to achieve profits and be able to offer prices that are attractive to consumers.

16. The Functions of Management  Management  The process of working with people and resources to accomplish organizational goals  Efficient, effective

17. Question ____________ is monitoring performance and making needed changes. A.Planning B.Organizing C.Leading D.Controlling

18. 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

19. 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

20. The Functions of Management  Leading  stimulating people to be high performers  Controlling  monitoring performance and making needed changes.

21. The Functions of Management

22. 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

23. Performing All Four Management Functions  Good managers attend to all four management functions!

24. Management Levels and Skills Top Level Managers Middle-Level Managers Frontline Managers

25. 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.

26. Management Levels and Skills  Frontline managers  Lower-level managers who supervise the operational activities of the organization

27. Transformation of Management Roles and Activities Table 1.1

28. Managerial Roles: What Managers Do Table 1.2

29. Question Which management skill is the ability to lead, motivate, and communicate effectively with others? A.Technical B.Conceptual C.Decision D.Interpersonal

30. Management Skills  Technical skill  The ability to perform a specialized task involving a particular method or process

31. 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.

32. Management Skills  Interpersonal and communication skills  People skills; the ability to lead, motivate, and communicate effectively with others.

33. 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

34. You and Your Career Be both a specialist and a generalist Be self-reliantBe connected Actively manage your relationship with your organization Survive and thrive

35. Keys to Career Management Table 1.3

36. Two Relationships: Which Will You Choose? Figure 1.1

37. Managerial Action Is Your Opportunity to Contribute Figure 1.2

38. Common Practices of Successful Executives  They ask “What needs to be done?” rather than “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.