Chapter 12: Managing and Leading for Success

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.