assessing your skills you should respond in one of three ways:you should respond in one of three...

Assessing Your Skills

• You should respond in one of three ways:1. Respond based on your own managerial experience,

if you have any.

2. Respond about effective (or ineffective) managers you have observed in your work experience.

3. Respond in terms of how you think an ideal manager should behave.

• What could cause your answers to not be an accurate estimation of your present level of management skills?

1–2© 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

What is Management?

• A set of activities

– planning and decision making, organizing, leading, and controlling

directed at an organization’s resources

– human, financial, physical, and information

with the aim of achieving organizational goals in an efficient and effective manner.

© 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 1–3

The Basic Purpose of Management

EFFICIENCYUsing resources wisely and

in a cost-effective way

EFFECTIVENESSMaking the right decisions and

successfully implementing them

and

© 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 1–4

© 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

Types of Organizational Resources

1–5

OrganizationalResources

Human Resources

Financial Resources

Physical Resources

Information Resources

What Core Skills Do Managers Need?

© 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 1–6

CoreManagement

Skills

Technical

Conceptual

Communication

Time Management

DecisionMaking

Diagnostic

Interpersonal

© 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

Present and Future Job Skills

• Key Questions:

1. What skills do I need to perform my current job effectively?

2. What skills do I need to perform my next job effectively?

1–7

© 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

Managers by Level and Area

1–8

Top Managers

Middle Managers

First-line Managers

Marketing Finance Operations Human Resources

Administration Other

Areas of Management

Levels of Management

Areas of Management

Areas of Management

Human ResourceManagers

AdministrativeManagers

SpecialistManagers

MarketingManagers

FinancialManagers

OperationsManagers

© 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 1–9

The Functional Perspective on Management

• Planning and Decision Making: Determining goals and courses of action

• Organizing: Coordinating activities and resources

• Leading: Motivating and managing people

• Controlling: Monitoring and evaluating activities

© 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 1–10

Management Simple

• Plan and Decide:– Effective pursuit of a chosen goal requires planning.

• Organize:– Efficiency in the use of an organization’s resources

requires proper structuring of the organization.

• Lead:– An organization is most effective when all of its efforts

are focused in the right direction.

• Control:– Knowing what has been done and how well it was

done determines what must yet be done.

© 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 1–11

© 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

The Role Perspective on Management

1–12

InterpersonalRoles

InformationalRoles

Managerial Roles

DecisionalRoles

© 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

Why Individuals Become Entrepreneurs

• Entrepreneurship is more likely if an individual:– is the parent, child, spouse, or sibling of an

entrepreneur

– is an immigrant to the United States or the child of an immigrant is a parent

– is a member of the Jewish or Protestant faith

– holds a professional degree in a field such as medicine, law, or engineering

– has recently experienced a life-changing event, such as getting married, having a child, moving to a new city, or losing a job

1–13