BADM 360 Ch. 1

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Ch. 1 Outline

Managing in The New Competitive

Landscape

Managing for Competitive Advantage

The Functions of Management

Management Levels and !ills

"ou and "our Career

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Learning Objectives

The major challenges of managing in the newcompetitive landscape

The drivers of competitive advantage for yourcompany

The functions of management and how they areevolving in todays business environment

The nature of management at differentorganizational levels

The skills you need to be an effective manager

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Managing in the New ompetitive

Landscape !our elements that are defining the current

business environment

%&lo'ali(ation%Technological Change))*nternet

%*mportance of !nowledge and ideas

%Colla'oration across organi(ational 'oundaries

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,nowledge Management

The set of practices aimed at discovering an

harnessing an organi(ations intellectual

resources.

This involves finding and capitali(ing on

the e-pertise s!ills wisdom and

relationships of the people within theorgani(ation.

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Managing for ompetitive

"dvantage #ood managers know that they are in acompetitive struggle to survive and win

To survive and win you must gain anadvantage over your competitors

The key to long$term success is the

competitive advantage held by the company

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A Competitive Advantage

Our te%t'eing 'etter than 2our competitors at doingvalua'le things for 2our customers

Other te%ts3 Advantage over competitors gained '2 offering

greater value either through lower prices or '2providing higher 4ualit2 to 5ustif2 higher prices

6hat sets an organi(ation apart from its competitorsin the minds of its consumers. The competitiveadvantage comes from the organi(ations corecompetencies.

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Managing for ompetitive

"dvantage &ources of competitive advantage

%*nnovation

%8ualit2

%peed

%Cost
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:-ample of CA ;ased on

*nnovation ispanics ;atanga.com starteda new maga(ine ) ;atanga Latin Music. ;ut the maga(ine soon

caught on and ;atanga was soon getting re4uests forsu'scriptions and to carr2 the maga(ine on newsstands. *n#??+ the maga(ine 'rought the compan2 @#/???? in revenueand it should grow $? in the ne-t few 2ears.B1

[1]MonahanNew products come from all !inds of sources.For e-ample ;atanga.com *nc. is a North Carolina internet, J.All systems grow. Entrepreneur, March, 2005, pp. 79!2.

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The !unctions of Management

Management is the process of working withpeople and resources to accomplish

organizational goals #ood managers are both effective and efficientin this process

'fficient means goals are achieved with

minimal resources wasted 'ffective means that the organizational goals

are achieved

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(hat do managers do)

%Elan

%Organi(e

%Lead

%Control

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*lanning+ ,elivering

&trategic -alue

% 2stematicall2 ma!ingdecisions a'out the

goals and activities that

an individual group

wor! unit or

organi(ation will

pursue in the future

Organizing+ .uilding

a ,ynamic

Organization% Assem'ling and

coordinating human

financial ph2sical

informational and

other resources needed

to achieve goals

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Leading+Mobilizing *eople

%timulating peopleto 'e high

performersincludes motivating

and communicatingwith emplo2eesindividuall2 and ingroups

ontrolling+

Learning and

hanging%Monitoring

performance and

ma!ing needed

changes

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The Management E2ramid

First-lineFirst-line

ManagersManagers

MiddleMiddle

ManagersManagers

TopTop

ManagersManagers

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ManagersManagers

MiddleMiddle

ManagersManagers

TopTop

ManagersManagers

President, CEO, VP Make long-range plansEstablish policiesRepresent the company

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ManagersManagers

MiddleMiddle

ManagersManagers

TopTop

ManagersManagers

Implement goalsMake decisionsDirect first-line managers

Controller, Marketing

Manager, ales Manager

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ManagersManagers

MiddleMiddle

ManagersManagers

TopTop

ManagersManagers

Implement plansO!ersee "orkers#ssist middle managers

Office Manager,

$per!isor, %oreman,

Department &ead

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Management Levels and &kills

Three levels of management

% Top)Level3 these managers are responsi'le for the

overall management and effectiveness of theorgani(ation

% Middle)Level3 these managers are located in the

middle la2ers of the organi(ational hierarch2 and

report to top)level e-ecutives% Frontline3 lower)level managers who supervise the

operational activities of the organi(ation

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Management Goles

/nterpersonal 0oles% involve people and dutiesthat are ceremonial and s2m'olic in nature

/nformational 0oles% receiving collecting anddissemination information

,ecisional 0oles% revolve around ma!ingchoices

Note3 the emphasis a specific manager gives to thevarious roles changes with their level ofmanagement.

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Managerial &kills

Technical &kill+ "bility to perform a specializedtask involving a particular method or process

onceptual and decisional skill+ &killspertaining to the ability to identify and resolveproblems for the benefit of the organizationand its members

/nterpersonal and ommunication &kills+*eople skills1 the ability to lead2 motivate2 andcommunicate effectively with others

BADM 360 Ch. 1

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Transcript of BADM 360 Ch. 1