chapter 1 - managers & management
DESCRIPTION
managers n management foundationTRANSCRIPT
PowerPoint Presentation
CENTRE FOR FOUNDATION STUDIESFOUNDATION IN BUSINESS PROGRAMMEFBM 1101 FUNDAMENTAL OF BUSINESS
CHAPTER 1 MANAGERS & MANAGEMENT
LECTURER : MR. KIRANPAL SINGH
Chapter 1 Managers & ManagementA Brief History of Management
Ancient ManagementEgypt (pyramids) and China (Great Wall)Venetians (floating warship assembly lines)
Adam SmithPublished The Wealth of Nations in 1776Advocated the division of labor (job specialization) to increase the productivity of workers
Industrial RevolutionSubstituted machine power for human laborCreated large organizations in need of management
Chapter 1 Managers & ManagementA Brief History of Management
Classical Approaches to Management
a) Scientific managementb) Administrative principlesc) Bureaucratic organization
Chapter 1 Managers & ManagementA Brief History of Management
a) Scientific management (Frederick Taylor)
Develop rules of motion, standardized work implements, and proper working conditions for every job.
Carefully select workers with the right abilities for the job.
Carefully train workers to do the job and provide proper incentives.
Support workers by carefully planning their work and removing obstacles.
Chapter 1 Managers & ManagementA Brief History of Management
b) Administrative Theory
Henri Fayol
Believed that the practice of management was distinct from other organizational functions.Developed principles of management that applied to all organizational situations.
Max Weber
Developed a theory of authority based on an ideal type of organization (bureaucracy)Emphasized rationality, predictability, impersonality, technical competence, and authoritarianism
Chapter 1 Managers & ManagementA Brief History of Managementc) Bureaucratic Organization (Webers Bureaucracy)
Chapter 1 Managers & ManagementWhat is Management?
ManagementThe process of planning, organizing, leading, and controlling an organizations financial, physical, human, and information resources to achieve its goals.ManagersThe people responsible for supervising the use of an organizations resources to meet its goals.
Resources are organizational assets such as :People, Skills, Knowledge, Information, Raw materials, Machinery and Financial capital.Chapter 1 Managers & ManagementWhy study Management?
Proper management directly impacts improvements in the well-being of a society.
Studying management helps people to understand what management is and prepares them accomplish managerial activities in their organizations.
Studying management opens a path to a well-paying job and a satisfying career.
Chapter 1 Managers & ManagementThe Functions of Managers
PlanningSetting GoalsOrganizingStructuringLeadingGuiding and MotivatingControllingMonitoring PerformanceChapter 1 Managers & ManagementThe Functions of Managers
PlanningThe Planning ProcessDetermining firms goalsDeveloping strategy for achieving goalsDesigning tactical and operational plans for implementing the strategy
Chapter 1 Managers & ManagementThe Functions of Managers
b) OrganizingThe Organizing ProcessArranging resources and activities in a coherent structure.Prepare organizational charts to help everyone understand roles and reporting relationships.
Chapter 1 Managers & ManagementThe Functions of Managers
c) Leading
The leading processGuiding and motivating employees to meet the organizations objectives.Uniting employees in a clear and targeted manner and motivating them to work in the best interests of the employer.
Chapter 1 Managers & ManagementThe Functions of Managers
d) Controlling
The Controlling ProcessMonitoring a firms performance to make sure that it is meeting its goals.Begins when management establishes standards, often for financial performance.Can serve as a basis for providing rewards or reducing costs.
Chapter 1 Managers & ManagementThe Control Process Diagram
Chapter 1 Managers & ManagementLevels of Management
Top managers: Responsible for the overall performance of the firm.President, vice president, treasurer, CEO, CFO.
Middle managers: Implement strategies and work toward goals set by top managers.Plant manager, operations manager, division manager.
First-line managers: Work with and supervise employees.Supervisor, office manager, project manager, group leader.
Chapter 1 Managers & ManagementManagement Roles and Skills
Managers basically perform 3 (THREE) main roles :
Interpersonal RolesInformational RolesDecisional RolesChapter 1 Managers & ManagementInterpersonal Roles
Manager is expected to perform 3 roles :
Figurehead role taking visitors to dinner, attending ribbon cutting ceremonies (involving in more symbolic role)
Leader role hiring, training and motivating employees. Able to show subordinates how to do things and how to perform under pressure is leading.
Liaison role serving as a coordinator or link among people, groups, or organizations.
Chapter 1 Managers & Managementb) Informational Roles.
Manager is expected to perform 3 roles :
Monitors role one who actively seeks information that maybe of value and attempts to be as well informed as possible.
Disseminators role disseminates information, transmitting relevant information back to others in the workplace.
Spokespersons role formally relays information to people outside the unit or outside the organization.
Chapter 1 Managers & Managementc) Decisional Roles
Manager is expected to perform 4 roles :
Entrepreneurs' role the voluntary initiator of change.
Disturbance handler handling problems such as strikes, copyright infringements or problems in public relations or corporate image.
Resource allocator decides how resources are distributed and with whom he or she will work most closely.
Negotiator enters into negotiations with other groups or organizations as a representative of the company.
Chapter 1 Managers & ManagementBasic Management Skills
Time-management skillsConceptual SkillsTechnical SkillsHuman Relations SkillsDecision-Making Skills
Chapter 1 Managers & ManagementBasic Management Skills
Technical Skills
The skills needed to perform specialized tasks are called technical skills.
People develop technical skills through a combination of education and experience. Technical skills are especially important for first-line managers.
Chapter 1 Managers & ManagementBasic Management Skills
Human Relation Skills
Skills that enable them to understand and get along with other people. A manager with poor human relations skills may have trouble getting along with subordinates, cause valuable employees to quit or transfer, and contribute to poor morale.
Managers should possess good communication skills. Many managers have found that being able both to under-stand others and to get others to understand them can go a long way toward maintaining good relations in an organization.Chapter 1 Managers & ManagementBasic Management Skills
Conceptual Skills
Conceptual skills refer to a persons ability to think in the abstract, to diagnose and analyze different situations, and to see beyond the present situation. Conceptual skills help managers recognize new market opportunities and threats. They can also help managers analyze the probable outcomes of their decisions.Chapter 1 Managers & ManagementBasic Management Skills
Decision Making Skills
Decision-making skills include the ability to define problems and to select the best course of action. These skills involve gathering facts, identifying solutions, evaluating alternatives, and implementing the chosen alternative.
Periodically following up and evaluating the effectiveness of the choice are also part of the decision-making process.Chapter 1 Managers & ManagementBasic Management Skills
Time Management Skills
Time management skills refer to the productive use that managers make of their time. Suppose, for example, that a CEO is paid $2 million in base salary and assume that she works 50 hours a week and takes two weeks vacation, our CEO earns $800 an hour. Any amount of time that she wastes clearly represents a large cost to the firm and its stockholders. Chapter 1 Managers & ManagementTime Management Skills (extension)To manage time effectively, managers must address four leading causes of wasted time:
Paperwork.Some managers spend too much time deciding what to do with letters and reports. Most documents of this sort are routine and can be handled quickly. Managers must learn to recognize those documents that require more attention.
Telephone calls.Experts estimate that managers get interrupted by the telephone every five minutes. To manage this time more effectively, they suggest having an assistant screen all calls and setting aside a certain block of time each day to return the important ones. Chapter 1 Managers & ManagementTime Management Skills (extension)
Meetings.Many managers spend as much as four hours a day in meetings. To help keep this time productive, the person handling the meeting should specify a clear agenda, start on time, keep everyone focused on the agenda, and end on time.
E-mail.Increasingly, managers are relying heavily on e-mail and other forms of electronic communication. Time is wasted when managers have to sort through spam and a variety of electronic folders, in-boxes, and archives.
Chapter 1 Managers & ManagementManagement Skills for the 21st Century
Global Management SkillsUnderstand foreign markets, cultural differences, and the motives and practices of foreign rivals.Understand how to collaborate with others around the world on a real-time basis.
Management and Technology SkillsNeeded to process increasing amounts of information.
Chapter 1 Managers & ManagementEND OF CHAPTER 1MANAGERS & MANAGEMENT