Chap1 Slides Summer

ManagingManaging

Chapter 01Chapter 01

Copyright © 2011 by the McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin

Learning ObjectivesLearning Objectives

LO 1 Summarize the major challenges of managing in the new competitive landscape

LO 2 Describe the sources of competitive advantage for a company

LO 3 Explain how the functions of management are evolving in today’s business environment

LO 4 Compare how the nature of management varies at different organizational levels

LO 5 Define the skills you need to be an effective manager

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GlobalizationGlobalization

Today’s enterprises are global, with offices and production facilities in countries all over the world

A company’s talent can come from anywhere Internet makes globalization inevitable

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Technological Change: The InternetTechnological Change: The Internet

Marketplace Means for manufacturing goods and services Distribution channel An information service

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Technological Change: The InternetTechnological Change: The Internet

Drives down costs and speeds up globalization.

Improves efficiency of decision making. Facilitates design of new products, from

pharmaceuticals to financial services

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Managing for Competitive AdvantageManaging for Competitive Advantage

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Managing for Competitive AdvantageManaging for Competitive Advantage

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Innovation the introduction of new goods and services often the most important innovation is not the

product itself, but how it is delivered

Managing for Competitive AdvantageManaging for Competitive Advantage

Quality The excellence of your product (goods or services) Historically, quality referred to attractiveness, lack

of defects, reliability, and long-term dependability

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Managing for Competitive AdvantageManaging for Competitive Advantage

Service The speed and dependability with which an

organization delivers what customers want

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Managing for Competitive AdvantageManaging for Competitive Advantage

Speed Fast and timely execution, response, and delivery

of results.

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Managing for Competitive AdvantageManaging for Competitive Advantage

Cost competitiveness Keeping costs low to

achieve profits and be able to offer prices that are attractive to consumers.

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The Functions of ManagementThe Functions of Management

Management The process of working with people and resources

to accomplish organizational goals Efficient, effective

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The Functions of ManagementThe Functions of Management

Planning Systematically making decisions about the goals

and activities that an individual, a group, a work unit, or the overall organization will pursue

analyzing current situations, anticipating the future, determining objectives, deciding in what types of activities the company will engage

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The Functions of ManagementThe Functions of Management

Organizing assembling and coordinating the human, financial,

physical, informational, and other resources needed to achieve goals

specifying job responsibilities, grouping jobs into work units, marshaling and allocating resources,

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The Functions of ManagementThe Functions of Management

Leading stimulating people to be high performers

Controlling monitoring performance and making needed

changes.

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Managerial Roles: WhatManagerial Roles: WhatManagers DoManagers Do

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Management SkillsManagement Skills

Technical skill The ability to

perform a specialized task involving a particular method or process

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Management SkillsManagement Skills

Conceptual and decision skills Skills pertaining to the ability to identify and

resolve problems for the benefit of the organization and its members.

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Management SkillsManagement Skills

Interpersonal and communication skills People skills; the ability to lead, motivate, and

communicate effectively with others.

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