Management, Leadership, and Internal Organization 1 Define management and 5 Contrast the types of business the skills necessary for decisions and list the steps in the managerial success. decision-making process. Explain the role of vision and 2 6 Define leadership and compare ethical standards. different styles of leadership. Summarize the benefits of Discuss the meaning and 3 planning and distinguish strategic, 7 importance of corporate tactical, and operational planning. culture. Describe the strategic planning Identify forms of departmentalization 4 8 process. and types of organization structures. Management is the process of achieving organizational objectives through people and other resources. • Develop long-range strategic plans for the organization. • Inspire executives and employees to achieve their vision for the company’s future. • Focus on specific operations, products, or customer groups within an organization. • Responsible for developing detailed plans and procedures to implement the firm’s strategic plans. • Implement the plans developed by middle managers. • Responsible for non- manager employees. • Motivate workers to accomplish daily, weekly, and monthly goals. → Technical skills Manager’s ability to understand and use the techniques, knowledge, and tools and equipment of a specific discipline or department. → Human skills Interpersonal skills that enable a manager to work effectively with and through people. → Conceptual skills Ability to see the organization as a unified whole and to understand how each part of the overall organization interacts with other parts. Planning Controlling • Process of determining • Evaluating an organization’s courses of action for achieving performance to determine organizational objectives. whether it is accomplishing its objectives. Organizing 1) Establish performance • Blending human and material standards. resources through a formal 2) Monitor actual performance. structure of authority. 3) Compare actual Directing performance with established standards. • Guiding and motivating employees to accomplish 4) Take corrective action if organizational objectives. required. • Vision is the perception of marketplace needs and the methods an organization can use to satisfy them. – Must be focused yet adaptable to changes in the business environment. • Long-term success is also tied to the ethical standards that top executives set. – High ethical standard can also encourage, motivate, and inspire employees to achieve goals. • There are different types and levels of plans • Organizations should have a comprehensive planning framework. – From mission statement to objectives and goals – Narrow functional plans • Plans outline the steps the company will take to meet outlined goals and objectives. • Decision making is the process of recognizing a problem or opportunity, evaluating alternative solutions, selecting and implementing an alternative, and assessing the results. • Programmed decision involves simple, common problems with predetermined solutions. • Nonprogrammed decision involves a complex, unique problem or opportunity with important consequences for the organization. • Leadership is the ability to direct or inspire people to attain organizational goals. • Involves the use of influence or power. • Three traits are common among many leaders: – Empathy – Self-awareness – Objectivity in dealing with others Autocratic Leadership Make decisions on own without consulting employees. Democratic Leadership Involve employees in decisions, delegate assignments and ask employees for suggestions. Free-Rein Leadership Leave most decisions to employees. Corporate Culture Organizations system of principles, beliefs, and values. Managerial philosophies, communications networks, and workplace environments and practices all influence corporate culture. • Organization: structured grouping of people working together to achieve common goals. • Three key elements: – Human interaction – Goal-directed activities – Structure • Product departmentalization: organized based on the goods and services a company offers. • Geographical departmentalization: organized by geographical regions within a country or, for a multinational firm, by region throughout the world. • Customer departmentalization: organized by the different types of customers the organization serves. • Functional departmentalization: organized by business functions such as finance, marketing, human resources, and production. • Process departmentalization: organized by work processes necessary to complete production of goods or services. • Delegation is the act of assigning work activities to subordinates. – The responsibility and the necessary authority for completing the tasks. – Employees have accountability, or responsibility for the results of the way they perform their assignments. – Authority and responsibility move down; accountability moves up. • Span of management is the number of subordinates, or direct reports, a supervisor manages. • Centralization: decision making is retained at the top of the management hierarchy. • Decentralization: decision making is located at the lower levels. Many firms believe it enhances their flexibility and responsiveness to customer needs. Line Organizations • Oldest and simplest form; direct flow of authority from CEO to subordinates. • Chain of command indicates who directs which activities and who reports to whom. Line-and-Staff Organizations • Combines line departments and staff departments. • Line departments participate directly in decisions that affect the core operations of the organization. • Staff departments lend specialized technical support. • Authority and responsibility are in the hands of a group of individuals. • Often part of a line-and-staff structure. • Often develop new products. • Tend to act slowly and conservatively. • Often make decisions by compromising conflicting interests rather than choosing best alternative. • Project management structure that links employees from different parts of the organization to work together on specific projects. • Employees report to a line manager and a project manager. Advantages: Challenges: • Flexibility in adapting to • Integrating skills of many changes. specialists into a coordinated team. • Focus on major problems or products. • Employee frustration and confusion over reporting to two • Outlet for empoyees’ creativity bosses. and initiative.
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