Managers and Managing

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Chapter 1

• Managers and Managing

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Management

• Consists of
• Planning
• Organizing
• Leading
• Controlling
• To achieve organizational goals effectively and
  efficiently

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Management

• Resources include
• People (skills, know-how and experience)
• Machinery
• Raw materials
• Computers and IT
• Patents
• Financial capital
• Loyal customers

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Organizational Performance
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Why Study Management?

• The more efficient and effective use of scarce
  resources, the greater the relative well-being
  and prosperity of people in that society
• Helps people deal with their bosses and coworkers
• Opens a path to a well-paying job and career

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Functions of Management
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Decisional Roles

• Roles associated with planning strategy and
  utilizing resources
• Entrepreneur deciding which new projects or
  programs to initiate and to invest resources in
• Disturbance handler managing crises
• Resource allocator assigning resources and
  setting the budgets of lower managers
• Negotiator reaching agreements between internal
  and external stakeholders

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Interpersonal Roles

• Roles associated with providing direction and
  supervision
• Figurehead symbolizing the organizations
  mission and direction
• Leader training, counseling, and mentoring
  employee performance
• Liaison coordinating the activities of people
  inside and outside the organization

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Informational Roles

• Roles associated with obtaining and transmitting
  information
• Monitor analyzing information from both the
  internal and external environment
• Disseminator transmitting information to
  employees
• Spokesperson using information to influence how
  people respond to it

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Levels of Management
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Relative Amount of Spent on Managerial Functions
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Managerial Skills

• Conceptual skills
• The ability to analyze and diagnose a situation
  and distinguish between cause and effect
• Human skills
• The ability to understand, alter, lead, and
  control the behavior of other individuals and
  groups
• Technical skills
• Job-specific skills required to perform a
  particular type of work or occupation at a high
  level

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Recent Changes in Management Practices

• Restructuring
• Downsizing to lower costs
• Outsourcing
• Contracting with another company to perform work
  previously performed by the company
• Empowerment
• Giving employees more authority/responsibility
• Self-managed teams
• Employees who assume collective responsibility
  for managing their own work

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Building Competitive Advantage
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Challenges for Management ina Global Environment

• Rise of global organizations
• Building a competitive advantage
• Maintaining ethical standards
• Managing a diverse workforce
• Utilizing information technology
• Global crisis management