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Chapter 2
Plan
Organize
Lead
Control
Planning
Planning is anticipating trends and
determining the best strategies and tactics
to achieve organizational goals and
objectives.
a. Today most companies have planning
teams monitor the environment.
b. Planning is called the key management
function because the other functions depend
on having a good plan.
Planning
Vision: is a forward-looking statement that
provides an encompassing explanation of why the
organization exists and where it is headed in the
future.
Mission Statement: is an outline of the
fundamental purposes of the organization.
Writing a Mission Statement
Address specific components
Involve all members
Goals and objectives
SMART objectives
Planning SWOT and PEST
Micro- versus macro-environment
The external environment consists of:
i. The micro (specific) environment is comprised of
factors such as a firms customers, suppliers, and
competitors.
ii. The macro (general) environments include
factors that affect an organization indirectly.
Top management
Middle management
Supervisory/First-line management
Organizing
Tasks and Skills at Different Management
Levels
Categories of skills
Technical, Human, and Conceptual
Organizational structure
Line-and-staff
Matrix
Organizing
Departmentalization: is an important
element of
organizational structure
Functional, Product, Customer,
Geographic, Process, Hybrid
Staffing: recruiting, hiring, motivating, and
retaining the best people available to
accomplish the companys objectives
Leading
The four keys to leadership:
1. Communicate a vision and rallying
others around that vision.
2. Establish company values.
3. Promote corporate ethics.
4. Embrace change.
Controlling
Five steps of controlling:
1. Establishing clear performance standards.
2. Monitoring and recording actual performance.
3. Comparing results against plans and
standards.
4. Communicating results and deviations to the
employees involved.
5. Taking corrective action when needed and
providing positive feedback.
?What Else do Managers do
Tasks vary greatly with the type of
industry
Managers establish the ethical
framework
Work-life balance
Total Quality Management (TQM)
Management Styles
Autocratic leadership
Works best with sports teams
Participative leadership
High employee job satisfaction
Free-rein Leadership
Used when job is well known
BONUS CASE 2-4
The Supermarket Manager
Management theories
Theory X McGregor
Average person dislikes and will avoid work
Manager is highly involved and closely watches
people
Theory Y McGregor
Most people like work and are committed
More relaxed managerial atmosphere
Theory Z Ouchi
Combines Japanese and American styles
Focus on trust and intimacy within the group
Management Challenges
Unique challenges
Constant change
Global marketplace
Acceleration of technological change
Increased diversity
Downsizing or Rightsizing