Understanding business 8th by mcchugh nickels chapter 07

* * * Management, Leadership, and Empowerment Nickels * McHugh McGraw-Hill/Irwin Understanding Business, 8e * * CHAPTER ** McHugh 1-1 7-1 © 2008 The McGraw-Hill Companies, Inc., All Rights * * * New Management Roles • Skilled communicator • Team player and a planner • Coordinator • Organizer • Supervisor 7-2 * * * Managing for the Future Prepare for the unexpected Faster reaction times Flatter structure Build teams Grow globally Develop cultural sensitivity Invest in technology Develop a family work atmosphere Create vision 10.Enhance competencies 7-3 * * * Management Functions • Planning • Organizing • Leading • Controlling 7-4 * * * Planning: Create Vision • Set Vision, Goals, Objectives • Vision and Mission – • • Objectives – Specific, Short-Term Continuous Process (SWOT) Why Organization Exists, Purpose of Organization • Goals – Broad, LongTerm 7-5 * * * Questions of Planning What is the situation now? • • • • • Where we want to go? How can we get there from here? Strategic Planning Tactical Planning Operational Planning Contingency Planning 7-6 * * * SWOT Analysis Potential Internal STRENGTHS Potential Internal WEAKNESSES Potential External OPPORTUNITIES Potential External THREATS 7-7 * * * Planning Functions 7-8 * * * Decision Making: Steps 1.1.Define Define 7.7.Determine Determine 6.6.Do Do 2.2.Describe Describe Decision Decision Making Making 5.5.Decide Decide 3.3.Develop Develop Alternatives Alternatives 4.4.Develop Develop Agreements Agreements 7-9 * * * Organizing • Skills/Tasks • Stakeholders • Staffing 7-10 * * * Management Pyramid President, Division Heads, Plant Mgrs Vice Pres Top Top Management Management Middle MiddleManagement Management Employees Foreman, Dept Heads Supervisory Supervisory(First-Line) (First-Line) Non-supervisory Non-supervisory 7-11 * * * Required Management Skills • Technical Skills • Human Relations Skills • Conceptual Skills 7-12 * * * Is It Difficult to be a Leader Today? Less Challenging (1%) Don’t Know (1%) No Change (9%) More Challenging (89%) Source: USA Today 7-13 * * * Successful Leadership • Communicate a Vision • Establish Corporate Values • Promote Corporate Ethics • Embrace Change 7-14 * * * Leadership Styles • Autocratic • Participative (Democratic) • Free-rein 7-15 * * * Four Leadership Types • Rationalists • Humanists • Politicists • Culturists Source: CIO Nov 2003 7-16 * * * Autocratic Leadership Making managerial decisions without consulting others 7-17 * * * Participative Leadership • Democratic • Managers and employees working together to make decisions 7-18 * * * Free-rein Leadership • Managers set objectives • Employees are relatively free to whatever it takes to accomplish those objectives 7-19 * * * Empowering Employees • Empowerment: Giving employees the authority and responsibility to make decisions • Enabling: Giving workers the education tools needed to make decisions 7-20 * * * Manager’s Empowerment Checklist • TARGET • TRUTH • TOOLS • TRACKING • TRAINING • TOUCH • TIME • TRUST Source: Empowerment Checklist, Cathcart Institute, 2004, www.cathcart.com 7-21 * * * Knowledge Management • Do you want to know more about your customers? • What about competition? • What information would make the company more effective in the marketplace? • What I still not know? • Whom should I be asking? 7-22 * * * Controlling Feedback Are standards realistic? If needed, take corrective action Communicate results Establish clear standards Monitor and record performance Compare results against standards 7-23 * * * Are You a Micromanager? • Do you have strategic initiatives that you • • • • have not addressed? Do you often check on your employees for quality control? Do you often check on your subordinates throughout the day? Do you seldom take a vacation? Is there a lot of turnover? Source: CFO May 2005 Did you answer YES to any question? 7-24 * * * Most Critical Trends, Management Concerns • Globalization • Improving Knowledge Management • Cost and Cycle Time Reduction • Improving Global Supply Chains • Manufacturing at Multiple Locations and • in Many Countries Managing More Part-time, Temporary and Contract Workers Source: Quality Digest 2004 7-25