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BUSINESS MANAGEMENT

BUSINESS MANAGEMENT. ESL 105 Presenters: Hsiao, Hsin-Yuan Lin, Yu-Chun Instructor: Lyra Riabov. Presentation Outline. Definition Management Functions Decision-Making Process Decision Style Inventory Leadership Styles Management S tyles

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BUSINESS MANAGEMENT

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  1. BUSINESSMANAGEMENT ESL 105 Presenters: Hsiao, Hsin-Yuan Lin, Yu-Chun Instructor: Lyra Riabov

  2. Presentation Outline • Definition • Management Functions • Decision-Making Process • Decision Style Inventory • Leadership Styles • Management Styles • Interview of Wal-Mart Manager

  3. The Definition of Management Management is a team of managers that is in charge of the organization at all levels.

  4. Management Functions Planning Controlling Organizing Directing

  5. Decision-Making Process Step 1 Step 2 Step 3 Define problem Define expectation Gather data Choose best alternatives Evaluate alternatives Develop alternatives Step 6 Step 5 Step 4

  6. Decision Style Inventory Thinking Complex Action Simple Task-Oriented People-Oriented

  7. Leadership Styles • Autocratic: authoritarian, straight-forward manner • Participative: free flow of communication, shares decisions • Laissez-faire: consultant, turns decisions to the group

  8. Management Styles

  9. About Wal-Mart • More than 1,500 units and in 330,000 associates in Argentina, Brazil, Canada, China, Germany, Korea, Mexico, Puerto Rico and the United Kingdom. • 2004 fiscal year end sales reached $47.5 billion, an 16.6 percent increase over the previous year, and that operating profit rose to $2.3 billion, an increase of 18.6 percent over the prior year.

  10. About Wal-Mart • Vision: The flagship retail store around the world • Mission: To give their customers what they want,tomake surethe low prices, to give them the best customer service • Values: customers, innovation, teamwork, employees, service, pricing philosophy

  11. Interview of Roger Laux, District Manager Wal-Mart, Hooksett • What is your title? How many employees are you responsible for? Roger: General store manager and I am responsible for 130 employees. • What are your job duties? Roger: Anything inside the building, from operations to merchandise to receiving and accounting. Interviewee: Roger Laux, District Manager Wal-Mart, Hooksett Interviewer: Yu-Chun Lin

  12. Interview of Roger Laux, District Manager Wal-Mart, Hooksett • Do you have a business background? What did you study in school to prepare yourself for this job? What work experience have you had? Roger: Bachelor of Science degree in biology Stayed with Kmart for about 28 years. After Kmart I went to Wal-Mart about 4 years ago. Interviewee: Roger Laux, District Manager Wal-Mart, Hooksett Interviewer: Hsin-Yuan Hsiao

  13. Interview of Roger Laux, District Manager Wal-Mart, Hooksett • How do you select your employees? Roger: Use computer system and pay attention to their characteristic. • In your opinion, what qualities make a good manager? Roger: Communication and organization skills, and also striving for doing the best as possible.

  14. Interview of Roger Laux, District Manager Wal-Mart, Hooksett • Which leadership style do you prefer Autocratic, Participative, or Laissez-Faire? Roger: It depends on the situation. • What out of four functions: Planning, Organizing, Directing, and Controlling do you spend most of your time? Roger: Directing and Controlling.

  15. Interview of Roger Laux, District Manager Wal-Mart, Hooksett • Does Wal-Mart have market segmentation? What is Wal-Mart’s market? Who are Wal-Mart’s customers? Roger:middle and low class customers. We maybe don’t have very high quality of products, but always at low price. • What is Wal-Mart’s corporate culture? Roger: respecting individuals, open-door style for everyone , and support community.

  16. Interview of Roger Laux, District Manager Wal-Mart, Hooksett • Wal-Mart prides on customer service and good refund system. Why do you insist this principle? Also, how do you reduce the cost and simplify the procedure? Roger: We offer the quality items to minimize the return , and use automatic credits to take care of returns. • How do the competitors affect Wal-Mart’s strategic decision? Also, what is Wal-Mart’s competition edge in retailing? Roger: Adjust our merchandise to fit the customers’ buying habits.

  17. Interview of Roger Laux, District Manager Wal-Mart, Hooksett • As everyone knows Sam Walton founded Wal-Mart. Do you follow Sam’s rules? If so, how do you follow "Sam's Rules for Building a Business? Roger: Yes, we follow the general idea to take care of the customers, and make good relationship with store suppliers. But we have changed how we approach those things. • What are the future goals of business? What are your future goals? Roger: We always look for improvements. We learn from the failure of others. My future personal goals are financial satisfaction through getting a promotion for a higher position.

  18. Conclusion The following projects which we learned from our studying: • Definition of management • Four Management Functions • Six Steps in the Decision Process • Four Kinds of Decision Styles • Three Leadership Styles • Four Characteristics of Management Styles We also got a lot of knowledge from interviewing of Wal-Mart manager

  19. References

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