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
QuestionQuestion
___________ is the fast and timely execution, response, and delivery of results.
A.InnovationB.QualityC.SpeedD.Service
Managing for Competitive AdvantageManaging for Competitive Advantage
Innovation the introduction of new goods and services often the most important innovation is not the
product itself, but how it is delivered
Managing for Competitive AdvantageManaging for Competitive Advantage
Quality The excellence of your product (goods or
services) Historically, quality referred to attractiveness,
lack of defects, reliability, and long-term dependability
Managing for Competitive AdvantageManaging for Competitive Advantage
Today quality is about preventing defects and having continuous improvement in how the firm operates
Managing for Competitive AdvantageManaging for Competitive Advantage
Service The speed and dependability with which
an organization delivers what customers want
Managing for Competitive AdvantageManaging for Competitive Advantage
Speed Fast and timely execution, response, and
delivery of results.
Managing for Competitive AdvantageManaging for Competitive Advantage
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
The Functions of ManagementThe Functions of Management
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
The Functions of ManagementThe Functions of Management
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
The Functions of ManagementThe Functions of Management
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.
Management Levels and SkillsManagement Levels and Skills
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
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
Management SkillsManagement Skills
Conceptual and decision skills Skills pertaining to the ability to identify
and resolve problems for the benefit of the organization and its members.
Management SkillsManagement Skills
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
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.