Managing Chapter 01 McGraw-Hill/Irwin. TRENDS: Globalization Today’s enterprises are global, with offices and production facilities in countries all

ManagingManaging

Chapter 01Chapter 01

McGraw-Hill/Irwin

TRENDS: GlobalizationTRENDS: Globalization

Today’s enterprises are global, with offices and production facilities in countries all over the world

Means that a company’s talent can come from anywhere

Internet makes globalization inevitable

TRENDS: Technological Change & the TRENDS: Technological Change & the InternetInternet

Marketplace Means for manufacturing goods and services Distribution channel Information media

TRENDS: Technological Change & the TRENDS: Technological Change & the InternetInternet

Drives down costs and speeds up globalization.

Improves efficiency of decision making. Facilitates design of new products, from

pharmaceuticals to financial services

TRENDS: Knowledge ManagementTRENDS: Knowledge Management

Knowledge management Practices aimed at

discovering and harnessing an organization’s intellectual resources

Knowledge workers

TRENDS: Collaboration across TRENDS: Collaboration across “Boundaries”“Boundaries”

Requires productive communications among different departments, divisions, or other subunits of the organization

TRENDS: Collaboration across TRENDS: Collaboration across “Boundaries”“Boundaries”

Companies today must motivate and capitalize on the ideas of people outside the organization e.g. its consultants, ad agencies, and suppliers

Managing for Competitive AdvantageManaging for Competitive Advantage

QuestionQuestion

___________ is the fast and timely execution, response, and delivery of results.

A.InnovationB.QualityC.SpeedD.Service


Innovation the introduction of new goods and services often the most important innovation is not the

product itself, but how it is delivered


Quality The excellence of your product (goods or

services) Historically, quality referred to attractiveness,

lack of defects, reliability, and long-term dependability


Today quality is about preventing defects and having continuous improvement in how the firm operates


Service The speed and dependability with which

an organization delivers what customers want


Speed Fast and timely execution, response, and

delivery of results.


Cost competitiveness Keeping costs low

to achieve profits and be able to offer prices that are attractive to consumers.

The Functions of ManagementThe Functions of Management

Management The process of working with people and

resources to accomplish organizational goals

Efficient, effective

QuestionQuestion

____________ is monitoring performance and making needed changes.

A.PlanningB.OrganizingC.LeadingD.Controlling


Planning Systematically making decisions about the goals

and activities that an individual, a group, a work unit, or the overall organization will pursue

analyzing current situations, anticipating the future, determining objectives, deciding in what types of activities the company will engage


Organizing assembling and coordinating the human,

financial, physical, informational, and other resources needed to achieve goals

specifying job responsibilities, grouping jobs into work units, marshaling and allocating resources


Leading stimulating people to be high performers

Controlling monitoring performance and making needed

changes.


Performing All Four Management Performing All Four Management FunctionsFunctions

A typical day for a manager is not neatly divided into the four functions

Days are busy and fractionated, and spent dealing with interruptions, meetings, and firefighting

Performing All Four Management Performing All Four Management FunctionsFunctions

Good managers attend to all four management functions!

Management Levels and SkillsManagement Levels and Skills


Top-level managers Senior executives responsible for the overall

management and effectiveness of the organization.

Middle-level managers Managers located in the middle layers of the

organizational hierarchy, reporting to top-level executives.


Frontline managers Lower-level

managers who supervise the operational activities of the organization

Transformation of Management Transformation of Management Roles and ActivitiesRoles and Activities

Table 1.1

Managerial Roles: WhatManagerial Roles: WhatManagers DoManagers Do

Table 1.2

QuestionQuestion

Which management skill is the ability to lead, motivate, and communicate effectively with others?

A. TechnicalB. ConceptualC. DecisionD. Interpersonal

Management SkillsManagement Skills

Technical skill The ability to

perform a specialized task involving a particular method or process


Conceptual and decision skills Skills pertaining to the ability to identify

and resolve problems for the benefit of the organization and its members.


Interpersonal and communication skills People skills; the ability to lead, motivate,

and communicate effectively with others.

You and Your CareerYou and Your Career

Emotional intelligence The skills of

understanding yourself, managing yourself, and dealing effectively with others.

Social capital Goodwill stemming

from your social relationships

You and Your CareerYou and Your Career

Keys to Career ManagementKeys to Career Management

Table 1.3

Two Relationships: Two Relationships: Which Will You Choose?Which Will You Choose?

Figure 1.1

Managerial Action Is YourManagerial Action Is YourOpportunity to ContributeOpportunity to Contribute

Figure 1.2

Common Practices of Successful ExecutivesCommon Practices of Successful Executives

They ask “What needs to be done?” rather than “What do I want to do?”

They write an action plan. They don’t just think, they do, based on a sound, ethical plan.

They take responsibility for decisions. They focus on opportunities rather than problems.

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Managing Chapter 01 McGraw-Hill/Irwin. TRENDS: Globalization Today’s enterprises are global, with offices and production facilities in countries all