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Chapter 7 Management Roles, Functions, and Skills

Terms in this set (50)

Managment
Process of planning, organizing, leading, and contolling to meet organizational goals
One of the most important functions in society
Interpersonal, informational, and decisional
Managerial Roles
Interpersonal Roles
Providing leadership to employees, building relationships, and acting as a liaison between groups and individuals both inside and outside the company such as suppliers and consumers
True
Number of connections a person has becomes important assets to the higher he or she rises in a company
True or False
Informational Roles
Mangers spend a fair amount of time gathering info from sources both inside and outside the organization
Executive dashboard
Provides quick read summaries of vital performance variables
Decisional Roles
Choosing which of several job candidates to hire or setting prices of new products
Planning, organizing, leading, and controlling
Basic Management functions
Planning
Develop strategies, establish goals, and objectives for the organization and translate those strategies and goals into action plans
Strategic Plan
Developed by top managers and it outlines the firms long range 2 to 5 years organization all goals and set a course of action to reach each goal.
Defining a mission, vision, and values, performing a Swot analysis, developing forecasts, analyze competition, establish goals and objectives, and develop action plans
Strategic Planning Process
Mission Statement
Brief expression of why the company exists
Vision Statement
Brief expression of what the company apsires to be
Values Statement
Brief articulation of the principles the guide a company's decisions and behaviors
Strengths, Weaknesses, Opportunities, and Threats
What does SWOT stand for
SWOT analysis
Before establishing long term goals a company needs a
Forecasts
Managers need to predict not only what will occur but when it will occur and how it will affect their business
...
Managerial forecast will fall under two broad categories
Quantitative forecasts
Based on historical data or tests
Qualitative Forecasts
Based on judgements
Competitive analysis
Should always keep the customers perspective in mind
Goal
Broad long range target or aim
Objective
A specific short range target or aim
Specific, measurable, attainable,relevant, and time limited.
What does SMART stand for
Organizing
Process of arranging resources to carry out an organizations plans, second major function of managers
Too, middle, bottom
3 levels of management
Management pyramid
An organizational structure divided into top, middle, and bottom
Top managers
Most power and who has overall responsibility and responsibility for setting strategic goals. CEO, CMO long time frames worked and decisions they have to make
Middle managers
Coordinate work of the first line managers bottom and develop plans to implement the goals or top managers
First Line managers (bottom)
Oversee work of employees and put into action the plans developed at higher levels Supervisor. Most immediate responsibility for insuring work is done
Leading
Process of influencing and motivating people to work willingly and effectively toward common goals
Cognitive, emotional, social
What types of intelligence do leaders posses
Cognitive intelligence
Includes reasoning problem solving and other rational skills
Emotional intelligence
Awareness of and ability to manage his or her own emotions greater role
Social Intelligence
Looking outward to understand the dynamics of social situations greater role
Autocratic leaders
Control the decision making process. Do not involve others in decision making bad reputation
Autocratic, democratic, laissez faire
Leadership styles
Democratic leaders
Delegate authority and involve employees in decision making
Laissez faire leaders
Leave most decisions up yo employees, particularly those concerning day to day matters
Coaching
Meeting with employees and discussing problems that may hinder their ability to work, offering suggestions and encouragement to overcome these problems
Mentoring
Experienced managers guide less experience colleagues, serving as role models for appropriate behavior
Organizational Culture
Set of shared values and norms that support the management system and that guide management and employee behavior
Controlling
Management function is the process of measuring progress against goals and objectives and correcting deviations if results are not as expected
1. Establishing performance standards based on the strategic plan
2. Measuring performance
3. comparing performance to standards
4. responding as needed
Control Cycle 4 steps
Interpersonal, Technical, Conceptual, and Decision Making
Essential Management Skills 4
Interpersonal Skills
Understand others and to interact effectively with them. Communication is the most important one.
Technical Skills
The ability and knowledge to perform the mechanics of a particular job
Conceptual Skills
To understand relationships of parts to the whole. Important to top managers. Visualizing. Helps develop plans
Decision Making Skills
ability to define problems and opportunities and select the best course of action.
1. Recognize and define the problem or opportunity
2. Identify and develop options
3. Analyze the options
4. Select the best option
5. Implement the decision
6. Monitor results.
Decision Making Process Six steps
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