From Planning to Inspiration: The Functions of Management
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Introduction to Business 1 BUS-101 Instructor: Erlan Bakiev, Ph.D. The Functions of Management © Prentice Hall, 2007 Chap ter 6 -2 Excellence in Business, 3e Managerial Functions Planning Organizing Leading Controlling © Prentice Hall, 2007 Chap ter 6 -3 Excellence in Business, 3e Roles of Management Interpersonal Informational Decisional © Prentice Hall, 2007 Chap ter 6 -4 Excellence in Business, 3e The Planning Function Develop Strategies for Success Set Goals and Objectives Develop Action Plans © Prentice Hall, 2007 Chap ter 6 -5 Excellence in Business, 3e Strategic Planning Process 1 Develop A Vision 7 Develop Action Plans 2 Write Mission Statement 6 Set Goals And Objectives 3 Perform SWOT Analysis 5 Analyze Competition © Prentice Hall, 2007 4 Develop Forecasts Chap ter 6 -6 Excellence in Business, 3e Clarity of Vision Development Communication Execution Modification © Prentice Hall, 2007 Chap ter 6 -7 Excellence in Business, 3e Mission Statement Objectives Goals Philosophies Product or Service Primary Market Survival, Growth, Profitability Managerial Philosophy Level of Quality Social Responsibility © Prentice Hall, 2007 Chap ter 6 -8 Excellence in Business, 3e Strengths Weaknesses SWOT Analysis Opportunities © Prentice Hall, 2007 Threats Chap ter 6 -9 Excellence in Business, 3e Managerial Forecasts Qualitative Forecasting Intuitive Judgments © Prentice Hall, 2007 Quantitative Forecasting Consumer Research Historical Data Chap ter 6 - 10 Statistical Computations Excellence in Business, 3e Competitive Analysis Differentiation Cost Leadership Focus © Prentice Hall, 2007 Chap ter 6 - 11 Excellence in Business, 3e Company Goals and Objectives Goals Objectives Broad, Long-Range Target or Aim Specific, Short-Range Target or Aim Sets Standards Guides Activity Boosts Motivation Clarifies Expectations © Prentice Hall, 2007 Chap ter 6 - 12 Excellence in Business, 3e One-Three Years Middle Managers Operational Plans First-Line Managers Time Frame Management Tactical Plans Less Than a Year © Prentice Hall, 2007 Chap ter 6 - 13 Excellence in Business, 3e Crisis Management Minimize Damage Maintain Operations Contingency Plans Open Communication © Prentice Hall, 2007 Chap ter 6 - 14 Excellence in Business, 3e The Organizing Function Employee Activities Facilities and Equipment Decision Making Supervision Resource Distribution © Prentice Hall, 2007 Chap ter 6 - 15 Excellence in Business, 3e The Management Pyramid Top Managers Middle Managers First-line Managers © Prentice Hall, 2007 Chap ter 6 - 16 Excellence in Business, 3e The Management Pyramid President, CEO, VP Top Managers •Make long-range plans •Establish policies •Represent the company Middle Managers First-line Managers © Prentice Hall, 2007 Chap ter 6 - 17 Excellence in Business, 3e The Management Pyramid Controller, Marketing Manager, Sales Manager Top Managers •Implement goals •Make decisions •Direct first-line managers Middle Managers First-line Managers © Prentice Hall, 2007 Chap ter 6 - 18 Excellence in Business, 3e The Management Pyramid Office Manager, Supervisor, Foreman, Department Head Top Managers •Implement plans •Oversee workers •Assist middle managers Middle Managers First-line Managers © Prentice Hall, 2007 Chap ter 6 - 19 Excellence in Business, 3e The Leading Function Managers Leaders Position Power Personal Power Rational © Prentice Hall, 2007 Intellectual Practical Inspirational Chap ter 6 - 20 Visionary Emotional Excellence in Business, 3e Leadership Qualities Intelligence Quotient (IQ) Emotional Quotient (EQ) Social Quotient (SQ) Change Quotient (CQ) © Prentice Hall, 2007 Chap ter 6 - 21 Excellence in Business, 3e Leadership Styles Autocratic Democratic Laissez-Faire Contingency © Prentice Hall, 2007 Chap ter 6 - 22 Excellence in Business, 3e Leader Behavior Continuum Management-Centered Leadership Employee-Centered Leadership Authority of Manager Freedom For Workers Manager Makes Decision © Prentice Hall, 2007 Manager “Sells” Decision Manager Presents Ideas Manager Makes Tentative Decision Chap ter 6 - 23 Manager Presents Problem Manager Sets Decision Limits Employees Make Decision Excellence in Business, 3e Types of Leaders Transactional Transformational Meeting Established Goals Inspiring Employees Clarifying Organizational Roles Finding Creative Solutions Securing Correct Resources Promoting Success © Prentice Hall, 2007 Chap ter 6 - 24 Excellence in Business, 3e Additional Leadership Functions Coaching Mentoring Meeting with employees Guiding employees Discussing problems Explaining office politics Offering suggestions Serving as role models Encouraging solutions Providing valuable advice © Prentice Hall, 2007 Chap ter 6 - 25 Excellence in Business, 3e Managing Change Present Situation Identify What Needs to Change © Prentice Hall, 2007 Process of Change Identify Forces For and Against Change Chap ter 6 - 26 Select the Best Approach New Situation Reinforce and Monitor Behavior Excellence in Business, 3e Organizational Culture Attitudes About Work Employee Interactions © Prentice Hall, 2007 Appropriate Attire Communication Patterns Chap ter 6 - 27 Business Conduct Excellence in Business, 3e The Controlling Function Monitoring Progress Resetting The Course Correcting Deviations © Prentice Hall, 2007 Chap ter 6 - 28 Excellence in Business, 3e The Quality Control Cycle Set Strategic Goals 1. Set Standards 2. Measure Performance Reevaluate Standards Correct Performance 4. Inadequate Take Action © Prentice Hall, 2007 3. Compare To Standard Chap ter 6 - 29 4. Adequate No Action Excellence in Business, 3e Interpersonal Management Skills Technical Administrative Conceptual Decision-Making © Prentice Hall, 2007 Chap ter 6 - 30 Excellence in Business, 3e The Decision-Making Process Recognize and Define the Situation Identify Options Analyze Options Select the Best Option Implement the Decision Monitor and Evaluate the Results © Prentice Hall, 2007 Chap ter 6 - 31 Excellence in Business, 3e
