1. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 1 From Planning to Inspiration: The Functions of Management

2. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 2 Managerial Functions Planning Organizing Leading Controlling

3. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 3 The Roles of Management Interpersonal Informational Decisional

4. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 4 The Planning Function Develop strategies for success Set goals and objectives Develop action plans

5. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 5 The Planning Process Develop a clear vision Create a mission statement Perform SWOT analysis Develop forecasts Analyze the competition Set goals and objectives Develop action plans

6. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 6 Clarity of Vision Development Communication Execution Modification

7. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 7 The Mission Statement Objectives Goals Philosophies

8. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 8 SWOT Analysis Strengths Weaknesses Opportunities Threats

9. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 9 Managerial Forecasts Qualitative forecasting –Intuitive judgments –Consumer research Quantitative forecasting –Historical data –Statistical computations

10. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 10 Competitive Analysis Differentiation strategy Cost leadership strategy Focus strategy

11. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 11 Company Goals and Objectives Goals –Broad, long-range Objectives –Specific, short-range Benefits –Boosts motivation –Sets standards –Guides activity –Clarifies expectations

12. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 12 Action Plans Tactical plans Operational plans

13. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 13 Planning for a Crisis Minimize damage –Contingency plans Maintain operations –Open communications

14. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 14 The Organizing Function Employee activities Facilities and equipment Decision making Supervision Resource distribution

15. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 15 The Management Pyramid Top managers Middle managers First-line managers

16. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 16 The Leading Function Managers –Position power Leaders –Personal power

17. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 17 Leadership Qualities Intelligence quotient (IQ) Emotional quotient (EQ) Social quotient (SQ) Change quotient (CQ)

18. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 18 Leadership Styles Autocratic Democratic Laissez-faire Contingency

19. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 19 Continuum of Leader Behavior Manager makes decision Manager sells decision Manager presents ideas Manager makes tentative decision Manager presents problem Manager sets decision limits Employees make decision

20. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 20 Types of Leaders Transactional –Meeting established goals –Clarifying organizational roles –Securing correct resources Transformational –Inspiring employees –Finding creative solutions –Promoting success

21. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 21 Additional Leadership Functions Coaching Mentoring

22. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 22 Managing Change Identify what needs to change Identify forces for and against change Select the best approach Reinforce and monitor behavior

23. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 23 Organizational Culture Attitudes about work Appropriate attire Employee interactions Communication patterns Business conduct

24. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 24 The Controlling Function Monitoring progress Resetting the course Correcting deviations

25. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 25 The Control Cycle Set strategic goals 1.Set standards 2.Measure performance 3.Compare to standard 4.Inadequate take action –Correct performance –Reevaluate standards 4.Adequate take no action

26. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 26 Management Skills Interpersonal Technical Administrative Conceptual Decision-making

27. © Prentice Hall, 2007Excellence in Business, 3eChapter 7 - 27 The Decision-Making Process Recognize and define situation Identify options Analyze options Select the best option Implement the decision Monitor and evaluate the results