1-1. Chapter Managing 1 1McGraw-Hill/Irwin Management, 7/e Copyright © 2007 The McGraw-Hill...
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Transcript of 1-1. Chapter Managing 1 1McGraw-Hill/Irwin Management, 7/e Copyright © 2007 The McGraw-Hill...
Chapter
Chapter
ManagingManaging
11
McGraw-Hill/IrwinMcGraw-Hill/IrwinManagement, 7/eManagement, 7/e Copyright © 2007 The McGraw-Hill Companies, Inc. All rights reserved.Copyright © 2007 The McGraw-Hill Companies, Inc. All rights reserved.
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Learning Objectives
The major challenges of managing in the new competitive landscape
The drivers of competitive advantage for your company
The functions of management and how they are evolving in today’s business environment
The nature of management at different organizational levels
The skills you need to be an effective manager
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The ‘New’ World
“The Darwinian struggle of daily business will be won by people – and the organizations – that adapt most
successfully to the new world that is unfolding.”
- Business Week August 21-28, 2000
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Managing in the New Competitive Landscape
Four elements that are defining the current business environment Globalization Internet Importance of knowledge and ideas Collaboration across organizational
boundaries
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Managing for Competitive Advantage
Good managers know that they are in a competitive struggle to survive and win
To survive and win you must gain an advantage over your competitors
The key to long-term success is the competitive advantage held by the company
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Managing for Competitive Advantage
Sources of competitive advantage Innovation Quality Speed Cost
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Managing for Competitive Advantage
Which strategy should a manager use? The best managers
and companies deliver them all
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The Functions of Management
Management is the process of working with people and resources to accomplish organizational goals
Good managers are both effective and efficient in this process
Efficient means goals are achieved with minimal resources wasted
Effective means that the organizational goals are achieved
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The Functions of Management
Planning: Delivering Strategic Value Systematically making
decisions about the goals and activities that an individual, group, work unit, or organization will pursue in the future
Organizing: Building a Dynamic Organization Assembling and
coordinating human, financial, physical, informational, and other resources needed to achieve goals
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The Functions of Management
Leading: Mobilizing People Stimulating people to
be high performers; includes motivating and communicating with employees, individually and in groups
Controlling: Learning and Changing Monitoring performance
and making needed changes
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Management Levels and Skills
Three levels of management Top-Level: these managers are responsible
for the overall management and effectiveness of the organization
Middle-Level: these managers are located in the middle layers of the organizational hierarchy and report to top-level executives
Frontline: lower-level managers who supervise the operational activities of the organization
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Managerial Skills
Technical Skill: Ability to perform a specialized task involving a particular method or process
Conceptual and decisional skill: Skills pertaining to the ability to identify and resolve problems for the benefit of the organization and its members
Interpersonal and Communication Skills: People skills; the ability to lead, motivate, and communicate effectively with others
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You and Your Career
Develop ‘EQ’ Be both a specialist and generalist Be Self-Reliant Be Connected Actively manage Relationships Survive and Thrive
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Looking Ahead to Chapter 2
The External Environment Organizational Culture The Macro-environment The competitive environment Environmental Analysis Responding to the Environment Culture and the Internal Environment of
Organizations
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Innovation
Tide took its well established detergent into new directions including Tide for cold-water washing, and a scrub brush to get out stains—all branded with the Tide name.
Innovation is today’s holy grail The most potent means of
creating new wealth It comes from people; it must be a
strategic goal; and it must be managed properly
Innovation is the introduction new goods and services
Return
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Quality
Product Relates to the actual
product/service Is now system focused –
continuous improvement
Service Making things easy for
customers Customizing products Customer relationship
Management
•The excellence of your product (goods or services)
•Has increased in importance
•Has two vital areas
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Speed
Fast and timely execution, response, and delivery of results
Speed is no longer just a goal of some companies; it is a strategic imperative
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