Management and Leadership

Entrepreneur or Manager

Management Terms

Manager Directing Strategic Plans Tactical Plans Organizational Structure Climate Operational Plans Quality Control Program Situational Management Image Planning Team Building Organizing Communication Conceptual Skills Human Relations (HR) Controlling Nonverbal Communication Time Management Vertical Organization Horizontal Organization

Manager

Person who has the responsibility to coordinate the people, the processes and resources of an operation.

A leader is someone that others will follow.

Many entrepreneurs

Do not make good managers, but often must learn to become good managers.

Planning is:

The act of setting goals, developing strategies, outlining tasks, and creating timelines to meet those goals

Strategic Plans are

long term. They map out goals for the business for 3-5 years and usually there is no specific target date. Strategic plans focus on generalities like best, biggest or most ……

Tactical Plans are

mid-range plans and focus on a year or less. These plans consist of specific objectives and target dates. Tactical plans show how to accomplish the Strategic Plans.

Operational Plans are

short-term and help achieve Tactical Plans in day to day business. These plans include policies, rules, regulations and budgets.

Organizing is:

The grouping of resources in combinations that will help the business reach it’s goals

Directing is:

The process of guiding and supervising employees.

Controlling is:

The process of comparing your expected results (goals) with actual performance.

Theory X

Management assumes employees are inherently lazy and will avoid work because they dislike it. As a result of this, management believes that workers need to be closely supervised with comprehensive systems of controls.

Theory Y

Management assumes employees are ambitious, self-motivated and exercise self-control. It is believed that employees enjoy their mental and physical work duties.

Good Managers:

Shift managerial, X and Y theories, depending on the task, individual and business’s needs.

Shifting a management style to fit the climate

In a set of circumstances is:Situational Management

Business Climate is:

A prevailing atmosphere or attitude. Management should promote a climate of growth for employees, as well as for the business; promoting creativity, innovation, goal achievement and effective communication.

Image is:

The mental picture and feelings people associate with a business.

Employees want to be associated with a winner. Managers should create the employee image of a successful business.

Human Relations (HR)

Helps management interact with employees, vendors, suppliers and customers in the form of communication, as a department within an organization.

Team Building

Involves activities designed to encourage employees to work better together, creating a positive climate within an organization.

Communication is:

The process of exchanging information.

Non-verbal Communication is:

Communication without spoken words. Examples include: Facial expressions, gestures, posture, eye contact, personal space, clothing choices, actions and behaviors.

Conceptual Skills

Use of thinking, reasoning and logic to better visualize a business’s future.

Time Management is

The process of allocating time effectively. Managers may have many projects and activities in various stages of completion, making Time Management skills very important.

7 Time Management Suggestions for managers

1. Set and prioritize your goals.2. Delegate work to others whenever possible.3. Plan to spend blocks of time on specific

activities.4. Schedule activities on a planning calendar.

7 Time Management Suggestions (continued)

5. Schedule most important work during the time of day, when you are at your best. (Morning, Noon or Evening)

6. Create group assignments for most effective time use and “Multi-task”.

7. Handle or eliminate interruptions, so not to take up time.

Organizational Structure is

Is how departments interrelate and who is in charge of what?

Organizational Chart

Organizational Structure is usually determined by job description, then by an Organizational Chart.

Organization are structured either Vertically or Horizontally

Vertical Organizational structure

Educational systems and governmental systems are built upon the concept that authority belongs to few and obedience to many.

Horizontal Structure

Horizontal structure, or flat organization is the level distribution of power and uses team interaction to accomplish goals. Advocates of horizontal organization maintain that vertical organization is based only on the management kept in place by competition for power, which should not be a strong foundation of a business.