Introduction to Business

ManagementChapter 1

When you think about what managers do, what are two words that come to mind?

What are two good characteristics of an effective manager?

Think about a manager (or teacher) you’ve had.

Management Talk

Companies fail when they become complacent and imagine that they will always be successful. So we are always challenging ourselves. Even the most successful companies must constantly reinvent themselves.

Who said it?

Hint: Tech company

How do you decide??

Full day

2 hour delay

No school

Principles

Basic truth or law - science

Hypothesis – idea about how something works

Instead, developed through induction – general conclusion

Management is always changing

Situations

What do you do when someone is constantly late?

Consequences of doing nothing?

What do you do if an employee steals from you?

What do you do if a waiter/waitress harasses a customer because of a small tip?

Levels of Management

Senior – CFO, CEO, COO, CIO

Middle

Middle management shuffle

Supervisory – day to day operations

What you see

Tasks

Top management somewhat even on tasks

Plan

Organize

Staff

Lead

Control

Supervisory Management heavy toward controlling and leading

Roles

Interpersonal

Relationship builder, leader, figurehead

Information related

Monitor, communication, spokesperson

Decision making

Entrepreneur, disturbance handler, resource director, negotiator

Skills

Conceptual

Understand, plan, organize

Human Relations

Interpersonal skills, HR directors, managers

Technical

Computers, IT, accounting

Discrimination

Men vs Women

Salaries Revealed

Milton Friedman

Is it nature/biology?

Tradition?

A flaw in the system?

Another view

Major companies with women CEOs GM, HP, IBM, PepsiCo, Lockheed Martin, DuPont, Xerox, Duke

Energy, Campbell Soup, Yahoo

23/500 or 4.6%

Issues in Management

What are five things people may be discriminated on?

Glass Ceiling

Sticky Floor Syndrome

What does it take to be an entrepreneur?

Entrepreneurs

Run their own businesses

May work for someone else first

Get experience and expertise

Sole proprietors – single person business

Partnerships – two or more

Corporation – separate entity

Franchise

Intrapreneurship –take risks within company

Small business – fewer than 100 employees

99% of businesses

Who Innovates More?

Large or Small companies?

What you need to consider:

Resume builders

Clubs

Leadership positions

Work experience

Networking

Creating contacts