McGraw-Hill © 2004 The McGraw-Hill Companies, Inc All rights reserved Chapter Management and Its Evolution McGraw-Hill © 2004 The McGraw-Hill Companies, Inc All rights reserved Learning Objectives After reading this chapter, you should be able to: z Understand the roles played by individuals, teams, and managers in carrying out company activities z Practice the four major functions of management z Recognize the interpersonal, informational, and decisional roles played by top level managers z Apply the general skills needed to carry out managerial responsibilities z Integrate the major elements from the various perspectives of management theory McGraw-Hill © 2004 The McGraw-Hill Companies, Inc All rights reserved The performance of organizations depends to a large extent on how their resources are allocated and their ability to adapt to changing conditions Successful organizations know how to manage people and resources efficiently to accomplish organizational goals and to keep those goals in tune with changes in the external environment McGraw-Hill © 2004 The McGraw-Hill Companies, Inc All rights reserved Management in the New Millennium zA firm can be efficient by making the best use of people, money, physical plant, and technology z It is ineffective if its goals not provide a sustained competitive advantage zA firm with excellent goals would fail if it hired the wrong people, lost key contributors, relied on outdated technology, and made poor investment decisions McGraw-Hill © 2004 The McGraw-Hill Companies, Inc All rights reserved Levels of management Strategic Managers Tactical Managers Operational Managers McGraw-Hill © 2004 The McGraw-Hill Companies, Inc All rights reserved Strategic Managers z The firm’s senior executives with overall responsibility for the firm ¾ Developing the company’s goals ¾ Focus on long-term issues ¾ Emphasize the growth and overall effectiveness of the organization z Concerned primarily with the interaction between the organization and its external environment McGraw-Hill © 2004 The McGraw-Hill Companies, Inc All rights reserved Tactical Managers zResponsible for translating the general goals and plans developed by strategic managers into specific objectives and activities ¾Shorter time horizon ¾Coordination of resources zThese McGraw-Hill are middle managers © 2004 The McGraw-Hill Companies, Inc All rights reserved Operational Managers z Lower-level managers who supervise the operations of the organization z Directly involved with non-management employees ¾ Implementing the specific plans developed with tactical managers ¾ This is a critical role to the organization ¾ Operational managers are the link between management and nonmanagement staff McGraw-Hill © 2004 The McGraw-Hill Companies, Inc All rights reserved Management Functions Planning Leading McGraw-Hill Organizing Controlling © 2004 The McGraw-Hill Companies, Inc All rights reserved ... Levels of management Strategic Managers Tactical Managers Operational Managers McGraw-Hill © 2004 The McGraw-Hill Companies, Inc All rights reserved Strategic Managers z The firm’s senior executives... ¾Coordination of resources zThese McGraw-Hill are middle managers © 2004 The McGraw-Hill Companies, Inc All rights reserved Operational Managers z Lower-level managers who supervise the operations of the.. .Chapter Management and Its Evolution McGraw-Hill © 2004 The McGraw-Hill Companies, Inc All rights reserved Learning Objectives After reading this chapter, you should be