BUAD110 Chapter 7 - Management

BUAD110 Chapter 7 - Management - Chapter 7: Management,...

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Chapter 7: Management, Leadership, and Employee Empowerment I. Mangers Roles are Evolving managers must practice the art of getting things done thru organizational resources (workers, financial resources, info., and equipment) ∙ used to be called bosses- told ppl what to do, watched over them, stern ∙ today more progressive educated to guide, train, support, motivate, and coach employees -emphasize teamwork and cooperation ∙ traditional long term contracts between management and employees and accompanying trust are often no longer there. -hard for management bc need to earn trust of employees ∙ teamwork is becoming more popular. -need ppl that are skilled communicators, team players, good at planning, coordinators, organizers, and supervisors. II. Functions of Management ∙ managers give direction to their org, provide leadership and decide how to use organizational resources to accomplish goals, deal with conflict resolution, create trust in an atmosphere where trust has been badly shaken, and help create balance between work and family life. management- process used to accomplish organizational goals thru planning, organizing, leading, and controlling ppl and other organizational resources planning- includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives. GOAL: please customers Planning teams help monitor environment, find business opportunities, and watch for challenges organizing- includes designing the structure of the organization and creating conditions and systems that everyone and everything work together to achieve goal leading- creating a vision for the organization and communicating, guiding, training, coaching, and motivating others to work effectiely to achieve organizations goals. ∙ controlling- involves establishing clear standards to determine whether an organization is progressing toward its goals and objectives, rewarding ppl for doing a good job, and taking corrective action if they arent III. Planning: Creating a Vision based on Values ∙ to executives planning is the most important tool ∙ create a vision: more than a goal. Its encompassing explination of why the organization exists and where its trying to go. -gives the org a sense of purpose and a set ov values. mission statement- made by employees and managers: outlines the orgs fundamental purppose Usually contains the orgs self concept, company philosophy, goals, long-term survival, customer needs, social responsibilty goal- broad, long term accomplishments an org wishes to attain objectives- specific short term statements detailing how to achieve goal*must be measurable ∙it answers questions like what is the situation? What is the state of the economy? Etc SWOT analysis- analysis of the orgs strenghths, weaknesses, opportunities and threats. ∙ company begins by processing the business environment in the beginning, the id’s the strengths and weaknesses,
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BUAD110 Chapter 7 - Management - Chapter 7: Management,...

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