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Managementand Leadership (PLANNING AND DECISION MAKING (DECISION MAKING …
Managementand Leadership
MANAGERS’ ROLES ARE EVOLVING
Rather than telling employees exactly what to do, managers today tend to give their employees enough independence to make their own informed decisions about how best to please customers.
management
The process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources.
THE FOUR FUNCTIONS OF MANAGEMENT
organizing
A management function that includes designing the structure of the organization and creating conditions and systems in which everyone and everything work together to achieve the organization’s goals and objectives.
leading
Creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organization’s goals and objectives.
planning
A management function that includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives.
controlling
A management function that involves establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking correctiv
PLANNING AND DECISION MAKING
vision
An encompassing explanation of why the organization exists and where it’s trying to head.
mission statement
An outline of the fundamental purposes of an organization.
goals
The broad, long-term accomplishments an organization wishes to attain.
objectives
Specific, short-term statements detailing how to achieve the organization’s goals.
SWOT analysis
A planning tool used to analyze an organization’s strengths, weaknesses, opportunities, and threats.
PLANNING
strategic planning
The process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals.
tactical planning
The process of developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done.
operational planning
The process of setting work standards and schedules necessary to implement the company’s tactical objectives.
contingency planning
The process of preparing alternative courses of action that may be used if the primary plans don’t achieve the organization’s objectives.
DECISION MAKING
Choosing among two or more alternatives.
Decision making
is the heart of all the management functions.
The rational decision-making model is a series of steps managers often fol- low to make logical, intelligent, and well-founded decisions.
six Ds of decision making:
Define the situation.
Describe and collect needed information.
Develop alternatives.
Decide which alternative is best.
Do what is indicated (begin implementation).
Determine whether the decision was a good one, and follow up.
problem solving
The process of solving the everyday problems that occur. Problem solving is less formal than decision making and usually calls for quicker action.
brainstorming
Coming up with as many solutions to a problem as possible in a short period of time with no censoring of ideas.
PMI
Listing all the pluses for a solution in one column, all the minuses in another, and the implications in a third column.
ORGANIZING: CREATING A UNIFIED SYSTEM
top management
The highest level of management, consisting of the president and other key company executives who develop strategic plans.
middle management
The level of management that includes general managers, division managers, and branch and plant managers who are responsible for tactical planning and controlling.
supervisory management
Managers who are directly responsible for supervising workers and evaluating their daily performance.
technical skills
Skills that involve the ability to perform tasks in a specific discipline or department.
human relations skills
Skills that involve communication and motivation; they enable managers to work through and with people.
conceptual skills
Skills that involve the ability to picture the organization as a whole and the relationships among its various parts.
staffing
A management function that includes hiring, motivating, and retaining the best people available to accomplish the company’s objectives.
LEADING: PROVIDING CONTINUOUS
VISION AND VALUES
Leadership
is creating a vision for others to follow, establishing corporate values and ethics, and transforming the way the organization does business in order to improve its effectiveness and efficiency.
autocratic leadership
Leadership style that involves making managerial decisions without consulting others.
participative (democratic) leadership
Leadership style that consists of managers and employees working together to make decisions.
free-rein leadership
Leadership style that involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives.
Leaders must therefore:
Communicate a vision and rally others around that vision
Establish corporate values.
Promote corporate ethics.
Embrace change.
Stress accountability and responsibility
enabling
Giving workers the education and tools they need to make decisions.
knowledge management
Finding the right information, keeping the information in a readily accessible place, and making the information known to everyone in the firm.
transparency
The presentation of a company’s facts and figures in a way that is clear and apparent to all stakeholders.
CONTROLLING: MAKING SURE IT WORKS
Controlling consists of five steps:
Establishing clear performance standards. This ties the planning function to the control function. Without clear standards, control is impossible.
Monitoring and recording actual performance or results.
Comparing results against plans and standards.
Communicating results and deviations to the appropriate employees.
Taking corrective action when needed and providing positive feedback for work well done.
external customers
Dealers, who buy products to sell to others, and ultimate customers (or end users), who buy products for their own personal use.
internal customers
Individuals and units within the firm that receive services from other individuals or units.