Chapter 14 Preparing and Planning to Manage

1. Chapter 14 Preparing and Planning to Manage Business Management Mrs. Deady

2. Objectives - 14.1: Entrepreneur or Manager • Describe the difference between the entrepreneurial role and the management role of a new business owner • Identify the management functions • List and explain the key elements in a positive business climate

3. Definitions 14.1 • Manager – responsible for directing and controlling the work and personnel, or a particular department within a business. • Planning – act of setting goals, developing strategies, and outlining tasks and timelines to meet those goals • Strategic Plans – long-range objectives based on long-term goals: 3-5 years out • Tactical plans – midrange objectives; one year or less; specific objectives with target dates • Operational plans – short-term objectives that help achieve tactical plans; includes policies, rules and regulation, and budgets for the day-to-day operation of the business

4. Definitions 14.1, cont’d • Organizing –to help you reach your objectives – decide what jobs need to be done; organization chart that includes the jobs; hire and train new employees. • Directing – process of guiding and supervising employees while they work • Controlling – process of comparing your expected results (objectives) with actual performance • Quality Control Program – set of measures built into the production process to make sure that products or services meet certain standards and performance requirements.

5. Definitions 14.1, cont’d • Climate – prevailing atmosphere or attitude set by a manager • Image – mental picture and feelings people have when thinking about the business • Team Building – activities designed to encourage teamwork to contribute to a positive climate • Communication – process of exchanging information

6. Management Functions • Planning • Organizing • Directing • Controlling

7. Office Climate Should Provide for: • Growth of employees as well as the business • Creativity, innovation, and change • Problem solving, goal development, and goal achievement • Effective communication within the business

8. 3 Key Elements for a Positive Business Climate • Image • Team Building • Communication

9. Objectives: 14.2 Management Styles and Skills • Name the three basic management styles • List the skills needed for managing • Explain the principles of management excellence

10. Definitions 14.2 • Situational management – adapting the management approach to particular circumstances • Human Relations – study of how people relate to each other • Human Relation skills – interpersonal skills – tied to communication skills • Nonverbal communication – transmitted through actions and behaviors and includes facial expressions, gestures, posture, eye contact, personal space, and even clothing choices.

11. Definitions, continued • Networking – building and maintaining informal relationships with people whose friendship could bring business opportunities. • Time Management – process of allocating time effectively

12. 3 Management Styles • Power-Oriented Style – managers who try to maintain total control over their whole operation. Works in situations where employees are untrained, inexperienced, or involved in a crisis. • Routine-Oriented Style – concerned with keeping the operation running smoothly rather than accomplishing other goals – middle management in large corporations • Achievement-Oriented Style – open to new ideas and seek out employee suggestions. Is most effective where a manager is dealing directly with employees who are turning out work.

13. 7 Time Management Suggestions (p. 316) • Set and prioritize your goals. • Delegate work to others whenever possible. • Plan to spend blocks of time on specific activities that help you achieve your goals. • Schedule your activities on a planning calendar. • Schedule your most important work for times when you do your best work. • Group your activities for the most efficient use of time. • Handle or eliminate interruptions so they take up as little time as possible.