FCES First Year 2024-2025, Ch 1 Part 3

FCES First Year 2024-2025, Ch 1 Part 3

• Chapter 1, Part 3 covers managerial roles.
• Henry Mintzberg identified ten common managerial roles, categorized into three groups: interpersonal, informational, and decisional.
• Informational roles connect all managerial work and ensure information flow.
• Interpersonal roles ensure information provision.
• Decisional roles utilize information for decision-making.

Managerial Roles - Interpersonal

• Figurehead Role: Outlines organizational goals, sets ethical guidelines for employee interactions with customers and suppliers. This role is primarily at higher levels.
• Liaison Role: Managers interact with peers and external parties. Top-level managers leverage this to gain favors/information; supervisors use it for routine workflow.
• Leader Role: Defines relationships between manager and employees; issues direct commands/orders, and makes decisions regarding human and technical resources.

Managerial Roles - Informational

• Monitor Role: Managers collect and receive information about internal/external changes to the organization.
• Disseminator Role: Managers transmit specific information internally in the organization to staff. Top-level managers share more external information compared to supervisors, who share less.
• Spokesperson Role: Managers communicate organizational information externally (giving speeches, launching campaigns for promoting new products).

Managerial Roles - Decisional

• Entrepreneur Role: Managers initiate change by committing resources to develop innovative goods/services and expand internationally.
• Disturbance Handler Role: Managers address organizational threats (internal or external). Corrective action should be immediate.
• Resource Allocator Role: Managers decide where to allocate organizational resources among different tasks/departments, setting budgets and salaries for mid/lower-level managers.
• Negotiator Role: Managers negotiate on behalf of the organization with suppliers, distributors, and labor unions to determine product quality and pricing of inputs, technical and human resources.

Management vs. Administration

• Administration: determination of policies, major objectives, and broad programs/projects (higher organizational levels).
• Management: guidance, leadership, and control of efforts toward common goals (typically mid/lower organizational levels).
• Practically, there's no clear dividing line; functions overlap and influence each other.

Case Study: Jayant

• Jayant is a Head Relationship Manager in a private sector bank's wealth management division.
• He manages a team of relationship managers effectively.
• His typical day involves continuous, interrelated functions.
• He sets targets, outlines future action plans for his team, and makes resources (e.g., iPads, forms, details of account holders) readily available.
• He works closely with the Human Resource Manager to maintain a satisfied workforce.
• He guides and motivates his team to fulfill full potential via various incentives that address their diverse needs. -He monitors performance to ensure standards are met and addresses any issues promptly.