my ppt @becdoms on importance of business management
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My ppt @becdoms on importance of business managementTRANSCRIPT
“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.
--Bill Gates
The Importance of Business Management
The Business World Today
Constant change! Technology Society Environment Competition Diversity
What is Management?
The process of deciding how best to use a business’s resources to produce good or provide services Employees Equipment Money
What is Management?
Auto industry managers Assembly line: schedule
work shifts, supervise assembly of vehicles
Engineering: develop new product features, enforce safety standards
General: plan for the future All organizations need
managers!
Levels of Management
Senior management Establishes the goal/objectives of the business Decides how to use the company’s resources Not involved in the day-to-day problems Set the direction the company will follow Chairperson of the company’s board of directors,
CEO, COO, senior vice presidents
Levels of Management
Middle management Responsible for meeting the goals that senior
management sets Sets goals for specific areas of the business Decides which employees in each area must do to
meet goals Department heads, district sales managers
Levels of Management
Supervisory management Make sure the day-to-
day operations of the business run smoothly
Responsible for the people who physically produce the company's products or services
Forepersons, crew leaders, store managers
The Management Pyramid
The Management Process
Three ways to examine how management works: Tasks performed
Planning, organizing, staffing, leading, controlling
Roles played (set of behaviors associated with a particular job) Interpersonal, information-based, decision-making
Skills needed Conceptual, human relations, technical
The Management Process
Planning Decides company goals
and the actions to meet them
CEO sets a goal of increasing sales by 10% in the next year by developing a new software program
The Management Process
Organizing Groups related
activities together and assigns employees to perform them
A manager sets up a team of employees to restock an aisle in a supermarket
The Management Process
Staffing Decides how many and what kind of people a
business needs to meet its goals and then recruits, selects, and trains the right people
A restaurant manager interviews and trains servers
The Management Process
Leading Provides guidance
employees need to perform their tasks
Keeping the lines of communication open Holding regular staff
meetings
The Management Process
Controlling Measures how the
business performs to ensure that financial goals are being met
Analyzing accounting records
Make changes if financial standards not being met
Relative Amount of Emphasis Placed on Each Function of
Management
Management Roles
Managers have authority within organizations Managers take on different roles to best use their
authority Interpersonal roles Information-related roles Decision-making roles
Management Roles
Interpersonal roles A manager’s relationships with people
Providing leadership with the company Interacting with others outside the organization Senior managers spend much of their time on
interpersonal roles Represent the company in its relations with people outside
the company, interacting with those people, and providing guidance and leadership to the organization
Determine a company’s culture Sears, Roebuck and Co.
Management Roles
Information-related roles Provide knowledge, news or advice to employees
Holding meetings Finding ways of letting employees know about important business
activities
Decision-making roles Makes changes in policies, resolves conflicts, decides how
to best use resources Middle and supervisory managers spend more time resolving
conflicts than senior managers
Management Skills
Conceptual skills Skills that help managers understand how different parts
of a business relate to one another and to the business as a whole
Decision making, planning, and organizing
Management Skills
Human relations skills Skills managers need to understand and work well with
people Interviewing job applicants, forming partnerships with
other businesses, resolving conflicts
Management Skills
Technical skills The specific abilities that people use to perform their jobs Operating a word processing program, designing a
brochure, training people to use a new budgeting system
Management Skills
All levels of management require a combination of conceptual, human relations, and technical skills Conceptual skills most important at senior
management level Technical skills most important at lower levels Human relations skills important at all levels
Principles of Management
A principle is a basic truth or law Managers often use certain rules when
deciding how to run their business Most management principles are
developed through observation and deduction
Principles of Management
Deduction is the process of drawing a general conclusion from specific examples Observe that employees in 15 companies work
more efficiently when their supervisors threat them well
Deduce/conclude that a pleasant work environment contributes to productivity
Conclusion becomes a management principle
Principles of Management
Management principles are best viewed as guides to action rather than rigid laws
If a principle does not apply to a specific situation, an experienced manager will not use it Important to recognize when a principle shouldn’t
be followed Being able to change and adapt is an important
management skill
Principles of Management
Women and Minoritiesin Management
In the last three decades, an increased number of women and minorities have joined the workforce They’ve attained positions as managers in
companies of all sizes
Women and minorities now serve as the CEOs of prestigious businesses Avon, eBay, Lucent
Women and Minoritiesin Management
White men still hold most senior management positions
Glass ceiling: the invisible barrier that prevents women and minorities from moving up in the world of business Steadily becoming a
window of opportunity!
Women and Minoritiesin Management
Workers and managers must be sensitive to challenges presented by a multicultural workplace Religious holidays that are
celebrated at different times throughout the year by Muslims, Christians, Jews and other religious groups