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Chapter
1 Managing
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Learning ObjectivesLearning Objectives
After studying Chapter 1, you wi !now"
the #ajor chaenges of #anaging in the new era
the drivers of co#petitive advantage for your co#pany
the functions of #anage#ent and how they are evoving intoday$s business environ#ent
the nature of #anage#ent at different organi%ationa eves
the s!is you need to be an effective #anager
what to strive for as you #anage your career
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1 - &
'ew (ra
Manage#ent
)nternet
Coaboration
Across
*+oundaries
nowedge
Manage#ent
.obai%ation
Managing )n /he 'ew (raManaging )n /he 'ew (ra
Manageria practices wi aways separate effective fro#
ineffective organi%ations
0our !ey ee#ents are new ee#ents in business today
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Managing )n /he 'ew (ra cont4Managing )n /he 'ew (ra cont4
/he )nternet
co##unication technoogies are driving #assive change
initia enthusias# for e-business has dwinded
25 of pubicy-hed 6eb co#panies beca#e profitabe in 2772#ost profitabe 6eb co#panies se infor#ation-based
products that don$t re8uire shipping
od econo#y types now using the )nternet as a too to soidify
their future
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Managing )n /he 'ew (ra cont4Managing )n /he 'ew (ra cont4
.obai%ation
far #ore than in the past, enterprises are goba
co#peting gobay is not easy
co#panies often overesti#ate the attractiveness of foreign#ar!ets
even s#a fir#s that do not operate on a goba scae #ust
#a!e strategic decisions based on internationa considerations
face intense co#petition fro# high-8uaity foreign producers
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Managing )n /he 'ew (ra cont4Managing )n /he 'ew (ra cont4
nowedge #anage#ent
practices ai#ed at discovering and harnessing an
organi%ation$s inteectua resources
unoc! peope$s e;pertise, s!is, wisdo#, and reationships
inteectua capita is the coective brainpower of the
organi%ation
Coaboration across *boundaries
capitai%e on the ideas of peope outside the traditionaco#pany *boundaries
occurs between as we as within organi%ations
eg, #ust effectivey capitai%e on custo#ers$ brains
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Co#petitive
Advantage
Cost
Co#petitiveness
=peed>uaity
)nnovation
Managing 0or Co#petitive AdvantageManaging 0or Co#petitive Advantage
+est #anagers and co#panies deiver a four
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Managing 0or Co#petitive AdvantageManaging 0or Co#petitive Advantage
cont4cont4
)nnovation
the introduction of new goods and services
co#es fro# peope
#ust be a strategic goa
#ust be #anaged propery
>uaity
e;ceence of a product, incuding its attractiveness, ac! of
defects, reiabiity, and ong-ter# durabiity i#portance of 8uaity has increased dra#aticay
catering to custo#ers$ other needs creates #ore perceived
8uaity
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/he 0unctions Of Manage#ent/he 0unctions Of Manage#ent
Manage#ent
the process of wor!ing with peope and resources to
acco#pish organi%ationa goas
good #anagers #ust be" effective - achieve organi%ationa goas
efficient - achieve goas with #ini#u# waste of resources
there are ti#eess principes of #anage#ent
sti i#portant for #a!ing #anagers and co#panies great #ust add fresh thin!ing and new approaches
1 12
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@anning
Leading
Controing
/he 0unctions Of Manage#ent cont4/he 0unctions Of Manage#ent cont4
Organi%ing
/he #anager who does not devote ade8uate attention and
resources to all four functions wi fai
1 13
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/he 0unctions Of Manage#ent cont4/he 0unctions Of Manage#ent cont4
@anning specifying the goas to be achieved and deciding in advance
the appropriate actions ta!en to achieve those goas
delivering strategic value - panning function for the new era
a dyna#ic process in which the organi%ation uses the brains of
its #e#bers and of sta!ehoders to identify opportunities to
#aintain and increase co#petitive advantage
process intended to create #ore vaue for the custo#er
1 1&
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/he 0unctions Of Manage#ent cont4/he 0unctions Of Manage#ent cont4
Organi%ingasse#bing and coordinating the hu#an, financia, physica,
infor#ationa, and other resources needed to achieve goas
building a dynamic organization - organi%ing function for the
new era
viewing peope as the #ost vauabe resource
the future re8uires buiding fe;ibe organi%ations
1 1
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/he 0unctions Of Manage#ent cont4/he 0unctions Of Manage#ent cont4
Leading
sti#uating peope to be high perfor#ers
in the new era, #anagers #ust be good at mobilizing people to
contribute their ideas
Controing
#onitoring progress and i#pe#enting necessary changes
#a!es sure that goas are #et
new technoogy #a!es it possibe to achieve #ore effectivecontros
for the future, wi have to be abe to #onitor continuous
learning and changing
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Manage#ent LevesManage#ent Leves
/op-eve #anagers strategic managers4
senior e;ecutives responsibe for the overa #anage#ent and
effectiveness of the organi%ation
focus on ong-ter# issues e#phasi%e the surviva, growth, and effectiveness of the fir#
concerned with the interaction between the organi%ation and
its e;terna environ#ent
tites incude Chief (;ecutive Officer C(O4, Chief OperatingOfficer COO4, co#pany presidents and vice presidents
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Manage#ent Leves cont4Manage#ent Leves cont4
0rontine #anagers operational managers4 ower-eve #anagers who supervise the operationa activities
of the organi%ation
directy invoved with non#anage#ent e#poyees
increasingy being caed on to be innovative and
entrepreneuria
tites incude supervisor or saes #anager
6or!ing eaders with broad responsibiities
in s#a fir#s and arge fir#s that have adapted to the ti#es,
#anagers have strategic, tactica, and operationa
responsibiities
1 - 1?
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/ransfor#ation of 0rontine/ransfor#ation of 0rontine
Manage#ent oes and /as!sManage#ent oes and /as!s
B 0ro# operationa i#pe#enters to aggressiveentrepreneurs
B riving business perfor#ance by focusing on
productivity, innovation and growth within frontine
units
Changing roles
Primary value
Key activities B Creating and pursuing new opportunities for the
business
B Attracting and deveoping resources and
co#petencies
B Managing continuous perfor#ance i#prove#ent
within the unit
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f i f idd
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/ransfor#ation of Midde-Leve/ransfor#ation of Midde-Leve
Manage#ent oes and /as!sManage#ent oes and /as!s
B 0ro# ad#inistrative controers to supportivecoaches
B @roviding the support and coordination to bring
arge co#pany advantage to the independent
frontine units
B eveoping individuas and supporting their
activities
B Lin!ing dispersed !nowedge, s!is, and best
practices across units
B Managing the tension between short-ter#
perfor#ance and ong-ter# a#bition
Changing roles
Primary value
Key activities
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f i f / f i f / L
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/ransfor#ation of /op-Leve/ransfor#ation of /op-Leve
Manage#ent oes and /as!sManage#ent oes and /as!s
B 0ro# resource aocators to institutiona eaders
B Creating and e#bedding a sense of direction,
co##it#ent and chaenge to peope throughout
the organi%ation
B Chaenging e#bedded assu#ptions whie
estabishing a stretching opportunity hori%on and
and perfor#ance standards
B )nstitutionai%ing a set of nor#s and vaues to
support cooperation and trust
B Creating an overarching corporate purpose and
a#bition
Changing roles
Primary value
Key activities
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!i
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Manage#ent =!isManage#ent =!is
=!i - specific abiity that resuts fro# !nowedge,
infor#ation, and aptitude
/echnica s!i
abiity to perfor# a speciai%ed tas! that invoves a certain
#ethod or process
#anagers at higher eves rey ess on technica s!is
Conceptua and decision s!is
abiity to identify and resove probe#s for the benefit of theorgani%ation
assu#e greater i#portance as #anager ac8uires #ore
responsibiity
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!i 4M =!i 4
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Manage#ent =!is cont4Manage#ent =!is cont4
)nterpersona and co##unication s!is
abiity to ead, #otivate, and co##unicate effectivey with
others
people skills
i#portant throughout your career at every eve of
#anage#ent
1 - 2&
D A d D CD A d D C
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Dou And Dour Career Dou And Dour Career
Eobs are no onger as secure for #anagers as they used to be
organi%ations sti try to deveop and retain good e#poyees
e#poyee oyaty and co##it#ent are sti i#portant
Co#panies offering *e#poyabiity to wor!ers tend to be#ore successfu
provide training and other earning e;periences
e#poyees perfor# wor! with greater responsibiity
1 - 2
D A d D C 4D A d D C 4
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+e both a speciaist and generaist specialist - e;pert in so#ething
provide concrete, identifiabe vaue to the fir#
generalist - !nowing about a variety of business functions so
that you can understand wor! with different perspectives
+e sef-reiant
ta!e responsibiity for yoursef, your actions, and your career
regardess of where you wor!
thin! and act i!e an entrepreneur
oo! for opportunities to contribute in new ways
generate constructive change
Dou And Dour Career cont4Dou And Dour Career cont4
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eys to Career Manage#enteys to Career Manage#ent
1 /hin! of yoursef as a business2 efine your product" 6hat is your area of e;pertiseF
3 now your target #ar!et" /o who# are you going to se thisF
& +e cear on why your custo#er buys fro# you 6hat is your
*vaue proposition - what are you offering that causes hi# to
use youF
As in any business, strive for 8uaity and custo#er satisfaction, even
if your custo#er is just so#eone ese in your organi%ation - i!e
your boss
9 now your profession or fied and what$s going on there
: )nvest in your own growth and deveop#ent, the way a co#pany
invests in research and deveop#ent 6hat new products wi you
be abe to provideF
< +e wiing to consider changing your career
1 - 2<
D A d D C t 4D A d D C t 4
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Activey #anage your reationship with your organi%ation two ways to thin! about the nature of the reationships
between you and your e#poyer
view yoursef as an e#poyee
#ode for just getting by
contributions i!ey to be #ini#a
two-way, #utuay-beneficia e;change reationship
thin! about how you can contribute and act accordingy
figure out new ways to add vaue
organi%ation i!ey provide fu and fair rewards, support further
persona deveop#ent, and offer #ore gratifying wor! environ#ent
Dou And Dour Career cont4Dou And Dour Career cont4
1 - 2?
/wo eationships" 6hich 6i Dou/wo eationships" 6hich 6i Dou
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/wo eationships" 6hich 6i Dou/wo eationships" 6hich 6i Dou
ChooseFChooseF
G2
Dou as an active contributor
in a productive reationship
Dou Dour Organi%ation
G1
Dou as a passive e#poyee
(#poyer
Dou
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Manageria Action )s Dour OpportunityManageria Action )s Dour Opportunity
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Manageria Action )s Dour OpportunityManageria Action )s Dour Opportunity
/o Contribute/o Contribute
Dou
Dour Organi%ation
Managerial Actions
1 eivering =trategic
Haue
2 +uiding a yna#ic
Organi%ation 3 Mobii%ing @eope
& Learning and
Changing
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Dou And Dour Career cont 4Dou And Dour Career cont 4
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=urvive and thrive be prepared to #ove fro# project to project, tea# to tea#
be a #aster at so#ething that the word vaues
deveop a strong networ! of coeagues who can hep withcurrent and future projects
have entrepreneuria s!is that hep you act as if you were
running your own business
ove technoogy#ar!et yoursef
be wiing to constanty i#prove and even reinvent yoursef
Dou And Dour Career cont4Dou And Dour Career cont4
