BUS 2005- Chapter 1 PDF

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CHAPTER 1: Management

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How do you define success as a manager? - Management team success translates into an engaged team with a clear purpose - Success as a manager is built on success of the whole team - Management is all about people Management - Definition: getting work done through people - Efficiency & effectiveness Efficiency -

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Getting work done with minimum of effort, expense or waste Important focus for individual organizations and Canada as a whole Labour productivity is tied to a country’s success and standard of living

Effectiveness -

Accomplishing tasks that help fulfill organizational objectives (customer service and satisfaction)

Management Functions -

Henri Fayol: - CEO of large steel company - Early 1900’s, one of the founders of field of management - Argued: success of enterprise depends more on administrative abilities of the leader than their technical abilities

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Top 3 Managerial Behaviours 1. Be a good coach 2. Empower, don’t micromanage 3. Be interested in direct reports success and well being

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Managers need to perform 4 Managerial Functions: 1. 2. 3. 4.

Planning Organizing Leading Controlling

Planning

Organizing

Leading

Controlling

Definition

Determining organizational goals and a means for achieving them

Deciding where decisions will be made, who will do which tasks and who will work for whom

Inspiring and motivating workers to work hard to achieve organizational goals

Monitoring progress toward goal achievement and taking corrective action when needed

Importance

-one of the best ways to improve performance

-organizational structure of company can have major impact on ability to handle decisions/execut e effectively

Lead by example

Set standards to achieve goals, comparing actual performance to standards then making changes to return performance to standards

TOP MANAGERS

MIDDLE MANAGERS

FIRST-LINE MANAGERS

TEAM LEADERS

-Executives responsible for overall direction of company -CEO, COO, CFO

-responsible for setting objectives consistent with top managements goals

-managers responsible for facilitating team activities towards accomplishing goal

-most critical time for a CEO is the first 100 days (honeymoon period)

-planning and implementing sub unit strategies for achieving objectives

-train and supervise performance of non-managerial employees who are directly responsible for producing companies products/service s

-encourages people to work harder -companies that plan have larger profits and faster growth

KINDS OF MANAGERS

Description

-Plant manager, regional manager

-office manager, shift supervisor

Responsibilitie s

1.Create a context for change 2.develop employees commitment to and ownership of company’s performance 3.create positive organizational culture through language and action 4.monitor business environments

1.Plan and allocate resources to meet objectives

1.manage performance of entry level employees

2.Coordinate and link groups, departments and divisions within a company

2.make detailed schedules based on middle managements plans

3.Monitor and manage performance 4.implement changes and strategies generated by top managers

1.develop timelines 2.delegate work to members of team 3.provide project info to supervisors

*spend 30-60 percent of time admin/meetings and 10-40% managing/coach ing

MANAGERIAL ROLES

INTERPERSONAL = most managers spend two thirds of their time in face to face cmns with others

INFORMATIONAL

DECISIONAL

a) Figurehead role Ceremonial duties like greeting visitors, representing companies at charity event

d) Monitor role Scan their environment for info and actively communicate with others

g) Entrepreneur role When they adapt themselves, their subordinates and units to change

b) Leader role Managers motivate and encourage workers to accomplish organizational objectives

e) Disseminator role Share info with others in their departments/companies

h) Disturbance Handler role Respond to severe problems that demand immediate action

c) Liaison role Managers deal with people outside their units

f) Spokesperson role Share info with people outside their department or company (example of annual shareholders meeting)

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Resource Allocator role Decide who will get what resources and how much of that resource j) Negotiator role Managers may negotiate

schedules, projects, goals, outcomes, resources and employee roles

WHAT COMPANIES LOOK FOR IN MANAGERS

TECHNICAL SKILLS -

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Specialized procedures, techniques and knowledge required to get the job done Most important for team leaders and lower level managers because they supervise workers who produce products/serve customers

HUMAN SKILLS -

Ability to work well with others

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Work effectively in groups, encourage others to express thoughts/feelings, sensitive to others needs

CONCEPTUAL SKILLS -

Ability to see organization as a whole, understand how different parts affect one another and recognize how company fits into/affected by the environment

MISTAKES MANAGERS MAKE -

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Management failure has been associated with managers who experience career derailment, being demoted/fired or underperforming Leadership derailment: when leaders who progress upward by capitalizing on key strengths suddenly fail to develop more widely and are unable to deliver results Key characteristics of leaders who derail: a) Difficult in changing/adapting (resistant to change) b) Problems with interpersonal relationships c) Failure to build/lead team d) Failure to meet business objectives e) Too narrow functional orientation Strategies to prevent leadership derailment a) Executive coaching b) Leadership training c) Self awareness d) Creative effective management processes and feedback...