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Lecture Understanding business (10/e): Chapter 7 - William G. Nickels, James M. McHugh, Susan M. McHugh

Chapter 7 - Management and leadership. This chapter include objectives: Describe the changes occurring today in the management function, describe the four functions of management, relate the planning process and decision making to the accomplishment of company goals, explain the differences between leaders and managers, and describe the various leadership styles, summarize the five steps of the control function of management. | Management and Leadership Chapter 07 McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Describe the changes occurring today in the management function. Describe the four functions of management. Relate the planning process and decision making to the accomplishment of company goals. Explain the differences between leaders and managers, and describe the various leadership styles. Summarize the five steps of the control function of management. LEARNING GOALS Chapter Seven 7- Four Functions of Management Management -- The process used to accomplish organizational goals through planning, organizing, leading and controlling people and other organizational resources. WHAT IS MANAGEMENT? LG1 7- Managers’ Roles Are Evolving Younger and more progressive. Growing numbers of women. Fewer from elite universities. Emphasis is on teams and team building. Managers need to be skilled communicators and team players. TODAY’S MANAGERS LG1 . | Management and Leadership Chapter 07 McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Describe the changes occurring today in the management function. Describe the four functions of management. Relate the planning process and decision making to the accomplishment of company goals. Explain the differences between leaders and managers, and describe the various leadership styles. Summarize the five steps of the control function of management. LEARNING GOALS Chapter Seven 7- Four Functions of Management Management -- The process used to accomplish organizational goals through planning, organizing, leading and controlling people and other organizational resources. WHAT IS MANAGEMENT? LG1 7- Managers’ Roles Are Evolving Younger and more progressive. Growing numbers of women. Fewer from elite universities. Emphasis is on teams and team building. Managers need to be skilled communicators and team players. TODAY’S MANAGERS LG1 7- Four Functions of Management Planning Organizing Leading Controlling FOUR FUNCTIONS of MANAGEMENT LG2 7- Planning & Decision Making Vision -- More than a goal, it’s a broad explanation of why the organization exists and where it’s trying to go. Mission Statement -- Outlines the organization’s fundamental purposes. It includes: philosophy, self-concept; social responsibility; products/services SHARING the VISION and MISSION LG3 7- Goals -- The broad, long-term accomplishments an organization wishes to attain. Objectives -- Specific, short-term statements detailing how to achieve the organization’s goals. SETTING GOALS and OBJECTIVES LG3 Planning & Decision Making 7- What is the situation now? SWOT Analysis -- Analyzes the organization’s Strengths, Weaknesses, Opportunities and Threats. How can we get to our goal from here? Strategic planning Tactical planning Operational planning Contingency planning PLANNING ANSWERS FUNDAMENTAL QUESTIONS LG3 Planning & Decision