1. Lecture 12

2. Management Process Planning, organizing, directing and controlling an organizational resources to achieve goals. All aspects of managers job are interrelated

3. Management Process Planning Organizing Directing Controlling

4. Planning What to do and how to do it Planning has three components Goal formulation Develop strategy Tactical and operational plans Organizing How best to arrange an organization resources and activities in a coherent structure

5. Management Process Directing Guide and motivate to meet objectives Controlling Monitor a firms performance to make sure that the firm meets its objectives Basis of providing rewards Use to measure actual performance Performance standards are often financial performance

6. Control Process

7. Types of Managers Top managers Overall performance and effectiveness Set policies, strategies Approve significant decisions Represent company Middle Managers Responsible for implementing strategies

8. Types of Managers Front Line Managers Work and supervise the employees who report to them

9. Management Pyramid Top Middle First-Line

10. Areas Of Management  Human Resources- Hire/Train, Appraise, compensation  Operations- Systems  Production, inventory and quality control  Marketing- Get Products & Services From Producer To Consumer

11. Areas Of Management  Information- Gather, Organize, & Distribute Information  Financial- Accounting & Finance  Other  Public relation managers

12. Basic Management Skills Technical Skills Skills needed to perform specialized task Important for line managers Human Relation Skills Skills in understanding and getting along with people Important at all levels but more important for middle managers

13. Employee Satisfaction Depends On: Source: “Managers Beware: Employee Job Satisfaction Depends On You”, Colorado Springs Business Journal, Nov. 21, 2003.

14. Basic Management Skills Conceptual Skills Persons ability to think in abstract, to diagnose and analyze different situations, and see beyond the present Help realize opportunity and threats Important at top managers level

15. Basic Skills- Decision-Making Define Problem Evaluate/SelectAlternative Implement & Evaluate

16. Basic Management Skills Decision Making Skills Define problem and select best course of action to resolve it Define problem, gather facts and identify alternatives Evaluate each alternative and select the best Implement the alternative and evaluate effectiveness

17. Basic Skills- Time Management Paperwork Telephone Meetings E-mail

18. Skills- 21 st Century Global Foreign markets, cultural differences and practices of foreign rivals Management &Technology Communication

19. What CEOs Feel Are The Important Skills For Leadership Source: “What CEOs Want To Know About…Leadership Development?” Connections, League for Innovation In the Community College, April 2004: http://www.league.org/publication/connections/main.htm

20. Corporate Culture- Shared Shared experiences, stories, beliefs and norms that characterize an organization –Purpose of strong culture Directs employee effort and help every one work towards the same goal

21. Communicating Culture Managers should have a clear understanding of the culture Transmit culture to others –Communicate, train and orienting newcomers –Maintain culture by rewarding those who understand and work towards maintaining it