1BUS221 IST LECTURE TUESDAY 28 MARCH.pdf

© 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. ❖ Rapid environmental shifts: ❖Technology ❖Globalization ❖Shifting social values ❖ In the new workplace, work is free-flowing...

© 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. ❖ Rapid environmental shifts: ❖Technology ❖Globalization ❖Shifting social values ❖ In the new workplace, work is free-flowing and flexible ❖Success depends on innovation and continuous improvement © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 2 Managers ❖ do more with less ❖ engage hearts and minds ❖ see change as natural ❖ inspire vision and cultural values ❖ allow people to create a collaborative workplace ❖ allow people to create a productive workplace © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 3 ❖ Management is the attainment of organizational goals in an effective and efficient manner through planning, organizing, leading, and controlling organizational resources ❖ Today’s effective manager is an enabler who helps people do and be their best. ❖ Today’s best managers are “future-facing.” ❖ Managers employ an empowering leadership style. © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 4   I © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5 © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 6 © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 7 ❖ Organization: Social entity that is goal directed and deliberately structured ❖ Organizational effectiveness: Providing a product or service that customers value ❖ Organizational efficiency: Refers to the amount of resources used to achieve an organizational goal © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 8 ❖ Three categories of skills: conceptual, human, technical ❖ The degree of the skills may vary but all managers must possess the skills ❖ The application of management skills change as managers move up the hierarchy © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 9 © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 10 © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 11 ❖ Missteps and unethical behavior have been in the news ❖ During turbulent times, managers must apply their skills ❖ Common management failures: ❖ Not listening to customers ❖ Unable to motivate employees ❖ Not building teams ❖ Inability to create cooperation ❖ Failure to clarify performance expectations ❖ Poor communication and interpersonal skills © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 12 © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 13 ❖ Top managers: Responsible for the entire organization ❖ Middle managers: Responsible for business units ❖ Project managers: Responsible for misinterpreting signals ❖ First-line managers: Responsible for production of goods and services © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 14 © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15 ❖ Functional managers: Responsible for departments that perform specific tasks ❖ General managers: Responsible for several departments © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 16 ❖ Organizations often promote star performers to management ❖ Becoming a manager is a transformation ❖Move from being a doer to a coordinator ❖ Many new managers expect more freedom to make changes ❖ Successful managers build teams and networks ❖ Many make the transformation in a “trial by fire” © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 17 © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 18 ❖ The increased workload ❖ The challenge of supervising former peers ❖ The headache of responsibility for other people ❖ Being caught in the middle © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 19 ❖ Adventures in multitasking ❖Activity characterized by variety, fragmentation, and brevity ❖Less than nine minutes on most activities ❖Managers shift gears quickly ❖ Life on speed dial ❖Work at unrelenting pace ❖Interrupted by disturbances ❖Always working (catching up) © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 20 ❖ Role: Set expectations for a manager’s behavior ❖ Every role undertaken by a manager accomplishes the functions of: ❖Planning ❖Organizing ❖Leading ❖Controlling © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 21 © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 22 ❖ Manager roles are important to understand but they are not discrete activities ❖ Management cannot be practiced as independent parts ❖ Managers need time to plan and think © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23 © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 24 ❖ Small businesses are growing ❖Inadequate management skills is a threat ❖The roles for small business managers differ ❖Entrepreneurs must promote the business ❖ Nonprofits need management talent ❖Apply the four functions of management to make social impact ❖More focus on keeping costs low ❖Need to measure intangibles like “improving public health” © 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 25