Business 20Lecture #16: Course Summary

What Is Management?The “Art” of Getting Things Done Through People

PlanningWhat are the goals?What actions will be used to attain the goals?

OrganizingWho is going to take the actions?

ControllingAre the actions achieving the goals?

LeadingMotivating people to achieve the goals

Analyzing an Industry:Michael Porter’s Five Forces

Methods of Globalizing

ExportingExporting

LicensingLicensing

FranchisingFranchisingJoint ventureJoint venture

Wholly owned subsidiary

Wholly owned subsidiary

Franchising x

Wholly owned

subsidiary

Licensing x

Joint venture

Exporting x

Managers Make TradeoffsEthics are usually RIGHT vs. RIGHT

Short Term vs. Long TermImmediate Profits vs. Long Term Investment

Loyalty vs. TruthDefend a close friend or Turn Them In

Individual vs. CommunityPersonal Success vs. Group Success

Justice vs. MercyTerminate a weak employee vs. Train them

From Mission to Goals and from Goals to Plans…

Choose Goals

Identify Actions

Allocate Tasks

Review Progress

Make Adjustments

Competitive Strategy

A set of coordinated actions that leverage your strengths against competitor weaknesses to attain a goal.

THE BEER GAME

Coordinated Actions Require Discipline and Motivation

Controls in the Auto Industry:New United Motor Manufacturing Inc.

http://www.thisamericanlife.org/radio-archives/episode/403/nummi (first 31 minutes)

Human Resource Planning Process

STEP 1

Conduct job

analysis

Step 2

Estimate Future

HR demand

Step 3

Document

current HR

supply

Step 4

Estimate future

Internal HR

supply

Step 5

Estimate future

External HR

supply

6 Keys To Successful CoachingStart And Stay Calm – Smile

Make Deposits Before Withdrawals

Coach Without An Audience

Begin With A Compliment

Correct The Act Not The Person

Be The Messenger Not The Author Of A Policy Or Procedure

MANAGERS MUST HAVE THE COURAGE TO COACH

Managing & Leading

Leaders Managers

“Doing the right things”

“Doing things right”

Focuses on preserving the

status quo

Focus on vision, mission, and

goals

Development Funnel

Phase 1: Idea Generation

Market

Gat

e 2Phase 2:

Project Refinement

Phase 3: Project Execution

Gat

e 1

Thank You and Good Luck!