Chapter 8 Management and Leadership

Chapter 8 Management and Leadership - Chapter 8 Management...

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Chapter 8: Management and Leadership December 11, 2013 7:22 PM MANAGERS' ROLES ARE EVOLVING Resources: general term including human resources, natural resources, and financial resources Management deciding how to effectively use scarce resources Management is becoming more progressive Educated to guide, train, support, motivate, and coach rather than order Management is an assignment; coaching is a choice FUNCTIONS OF MANAGEMENT Management: process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources Planning: anticipating trends and determining best strategies and tactics to achieve organizational goals and objectives o E.g. planning teams to help monitor the environment, find business opportunities, and watch for challenges o Plan is reflected in a set of budgets Organizing: designing the structure of organization and creating conditions and systems in which everyone and everything work together to achieve the organization's goals and objectives o Many organizations being designed around customer o Everyone is working to please customer at a profit Leading: creating a vision for the organization and communicating, guiding, training, coaching, and motivating others to work effectively to achieve the organization's goals and objectives o Empower employees, give as much freedom possible o Once known as directing (tell employees exactly what to do) o Necessary to keep employees focused on right tasks at the right time Controlling: establishing clear standards to determine whether an organization is progressing toward its goals and objectives, reporting the results achieved, rewarding people, taking corrective action if work is not proceeding according to plan o Measuring whether what actually occurs meets the goals PLANNING: CREATING A VISION BASED ON VALUES Vision: encompassing explanation of why the organization exists and where it is trying to head o Gives organization a sense of purpose Values: set of fundamental beliefs that guide a business in their decisions Vision informs values and together unite workers in a common purpose Without values, organization has no basis for determining how employees should interact with stakeholders Mission Statement: outline of organization's fundamental purposes Meaningful mission statements should include: o Organization's self-concept o Company philosophy and goals
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o Long-term survival o Customer needs o Social responsibility o The nature of the company's product or services Goals: broad term accomplishments an organization wishes to attain o Need to be mutually agreed on by workers and management o Often a team process Objectives:
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  • Fall '11
  • smith
  • Management, general managers, Stakeholder-Oriented Organization

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