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Understanding Management: Process, Hierarchy, Skills, and Functions

Learn about the management process, organizational hierarchy, essential managerial skills, and the functions of managers. Discover the importance of setting a vision and ethical standards for the firm, different types of planning, the strategic planning process, decision-making, leadership styles, corporate culture, and organizational structures.

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Understanding Management: Process, Hierarchy, Skills, and Functions

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  1. WHAT IS MANAGEMENT? • ManagementProcess of achieving organizational objectives through people and other resources. • The Management Hierarchy • • Top management, middle management, supervisory management • Skills Needed for Managerial Success • • Technical skills, human skills, conceptual skills • Managerial Functions • • Planning, organizing, directing, controlling

  2. SETTING A VISION AND ETHICAL STANDARDS FOR THE FIRM • VisionPerception of marketplace needs and the methods an organization can use to satisfy them. • • Must be focused yet adaptable to changes in the business environment. • • Long-term success is also tied to the ethical standards that top executives set. • • High ethical standard can also encourage, motivate, and inspire employees to achieve goals.

  3. IMPORTANCE OF PLANNING • Types of Planning • Strategic • • Determining the primary objectives of an organization and then acting and allocating resources to achieve those objectives. • Tactical • • Guides the activities required to implement overall strategies. • Operational • • Assigning employees and teams to carry out tactical plans. • Contingency • • Planning for unforeseen major accidents, natural disasters, and rapid economic downturns.

  4. THE STRATEGIC PLANNING PROCESS • • Often makes the difference between success and failure. • Define the Organization’s Mission • Assess the Competitive Position • Set Objectives • Create Strategies for Competitive Differentiation • Turn Strategy into Action • Evaluate Results

  5. MANAGERS AS DECISION MAKERS • Programmed and Nonprogrammed Decisions • • Programmed decision • • Nonprogrammed decision • How Managers Make Decisions • • Recognizing a problem or opportunity • • Developing potential responses • • Evaluating alternative solutions • • Selecting and implementing an alternative • • Assessing the results

  6. MANAGERS AS LEADERS • LeadershipAbility to direct or inspire people to attain organizational goals. • • Involves the use of influence or power. • Leadership Styles • • Autocratic, democratic leadership, free-rein leadership • Which Leadership Style Is Best? • • Important variables: • • Corporate culture of the firm • • System of principles, beliefs, and values

  7. CORPORATE CULTURE • Corporate cultureOrganization’s system of principles, beliefs, and values. • • Managerial philosophies, communications networks, and workplace environments and practices all influence corporate culture. • • Typically shaped by the leaders who founded and developed the company and by those who have succeeded them. • • Can be changed. • • Strong culture = everyone knows and supports the same principles, beliefs, and values. • • Weak or constantly shifting culture = lack of a clear sense of purpose.

  8. Organizational Structures • OrganizationStructured grouping of people working together to achieve common goals. • DepartmentalizationProcess of dividing work activities into units within the organization. • DelegationAct of assigning work activities to subordinates. • • Employees have both responsibility and authority. • Span of managementNumber of subordinates, or direct reports, a supervisor manages. • • Centralization or decentralization

  9. Types of Organization Structures • Line Organizations • • Direct flow of authority from CEO to subordinates. • Line-and-Staff Organizations • • Combines line departments and staff departments. • Committee Organizations • • Authority and responsibility are jointly in the hands of a group of individuals rather than a single manager. • Matrix Organizations • • Links employees from different parts of the organization to work together on specific projects.

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