Chapter 12: Managing and Leading for Success

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Questions and Answers

What should managers focus on to better utilize employee strengths?

Creating more training programs

Leveraging existing strengths for opportunities (correct)

Increasing employee turnover

Minimizing operational costs

Which aspect of employee retention does management hold responsibility for?

Ensuring competitive salaries

Understanding employee weaknesses (correct)

Meeting industry regulations

Promoting company reputation

What is the primary difference between coaching and mentoring?

Coaching is for skill development; mentoring is for knowledge sharing (correct)

Coaches focus only on weaknesses; mentors focus only on strengths

Coaching is only for new employees; mentoring is for all staff

Coaching involves informal support; mentoring is much more structured

Which of the following is NOT a question to clarify actions in a SWOT analysis?

How can we protect our weaknesses? Signup and view all the answers

According to the study by McKinsey, what is the most common reason employees gave for leaving their job?

Not feeling valued by the organization Signup and view all the answers

What is the first step in the GROW model for effective coaching?

Identifying the Goal Signup and view all the answers

Which of the following describes the purpose of the SWOT Analysis?

Identifying factors for competitive advantage Signup and view all the answers

What disconnect exists between employers and employees regarding reasons for leaving?

Employers underestimate lack of growth opportunities Signup and view all the answers

What is the primary distinction between managers and leaders?

Managers organize, whereas leaders align. Signup and view all the answers

Which of the following options best defines a vision for a business?

What a company desires to achieve in the long run. Signup and view all the answers

What are the four common decision-making styles mentioned?

Directive, Conceptual, Analytical, Behavioral Signup and view all the answers

What is a characteristic of transformational leadership?

Promoting engagement and inclusivity. Signup and view all the answers

Which of the following best explains the concept of authority in management?

An official right to make decisions and direct others. Signup and view all the answers

Which of the following statements best describes the role of coaching in achieving goals?

Coaching helps individuals develop skills and achieve personal and organizational goals. Signup and view all the answers

What is one challenge that both managers and leaders face?

Micromanaging tasks. Signup and view all the answers

What are the 4 C's essential for effective leadership?

Confident, Connected, Committed, Courageous Signup and view all the answers

Study Notes

Chapter 12: Managing and Leading for Success

This chapter focuses on managing and leading for business success.
Learning objectives include describing the differences between managers and leaders, differentiating between authority and power, comparing leadership and decision-making styles, explaining how SWOT analysis creates a vision, and describing how coaching and mentoring achieve goals.
Managers focus on process, organization, and position while leaders focus on vision, alignment, and quality.
Authority is formal power derived from a position, while power is the ability to influence others.
Effective managers accomplish departmental objectives, ensure a safe work environment, manage staff and resources, define objectives, evaluate results, maintain quality service, and contribute to the department or area's needs.
Effective managers also keep appropriate staffing levels, recruit, select, orient, and train employees, coach, advise, discipline employees, and create opportunities for professional growth.
Effective managers create, coordinate and enforce policies, procedures and standards.

Types of Managers

Types of managers include top, functional, supervisory/team, staff, line, and project managers.

The 4 C's to be an Effective Leader

Four critical characteristics for effective leadership are confident, connected, committed, and courageous.

Types of Leadership

Leadership styles include transactional and transformational leadership. Transformational leadership includes visionary, team-centric, engaging, inspiring, inclusive, emotionally intelligent, and collaborative styles.

Decision Making Styles

Common decision-making styles include directive, conceptual, analytical, and behavioral styles. Issues relating to decision making include micromanagement, poor delegation, fear of losing control, and fear of failure.

Establishing a Vision

A vision outlines a company's long-term goals, setting a direction for achieving them.

SWOT Analysis

A SWOT analysis evaluates internal strengths and weaknesses, external opportunities, and threats.
Strengths are advantages over competition.
Weaknesses are disadvantages relative to competition.
Opportunities are beneficial outside factors.
Threats are harmful outside factors.
A SWOT analysis clarifies actions a business can take to improve competitiveness.

Building a Workplace

Managers and leaders need to understand employees as the most valuable resource.
Any employee weaknesses are management's responsibility to address and improve.
Retaining employees is crucial.

Reasons Employees Leave

Employee reasons for leaving include not feeling valued by the organization and/or their manager.
Employers often perceive employees leaving due to wanting a better job or insufficient compensation.

Coaching and Mentoring

Coaching develops abilities through direction, vision, and support.
Mentoring is a more experienced person sharing knowledge for another's professional or personal growth.
A GROW model for coaching focuses on Goal, Reality, Options, and Will.

In-Class Discussion Questions

Students will discuss key takeaways from the chapter materials, identify areas of disconnect between employers and employees, propose solutions to the issues from step 3, and identify benefits that would entice them to work for a specific company.

Resume Builders

Resume builder skills include demonstrating active listening, emotional intelligence, understanding of operations management and supply chains, value proposition, marketing strategies, and impact of digital platforms.

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Description

This quiz covers key concepts from Chapter 12, focusing on the distinction between management and leadership in achieving business success. It explores elements such as authority vs. power, decision-making styles, and the role of SWOT analysis in creating a vision. Understand how effective management strategies contribute to a successful organization.