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Chapter OneThe Exceptional Manager: What You Do, How You Do ItMcGraw-Hill/IrwinCopyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved.Management is like Chicken SexingDirty Jobs99.7% Accurate://www.youtube.com/watch?v=1tmEO9xRqvo1-21-#Management: What It Is, What Its Benefits AreManagement is defined asThe pursuit of organizational goals efficiently and effectively byIntegrating the work of people throughPlanning, organizing, leading, and controlling the organizations resources1-#Efficiency and EffectivenessTo be efficient means to use resources -people, money, raw materials, and the like -wisely and cost-effectivelyTo be effective means to achieve results, to make the right decisions and to successfully carry them out so that they achieve organizational goals

1-#Example Efficiency versus EffectivenessMany companies now use a recorded telephone menu of options to answer customer callsThis is efficient for the companies, but not effectiveMost consumers prefer a live agent

1-#Seven Challenges to Being an Exceptional ManagerManaging for competitive advantage staying ahead of rivalsManaging for diversity the future wont resemble the pastManaging for globalization the expanding management universe1-#Seven Challenges to Being an Exceptional Manager (cont.)Managing for information technologyManaging for ethical standardsManaging for Sustainability The Business of GreenManaging for your own happiness & life goals1-#Managing for Competitive AdvantageCompetitive advantage the ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them

1-#Example Losing Competitive Advantage: How Did Newspapers Lose Their Way?First: Giving Away the Productnewspaper proprietors, decided to promote their product by giving it away for free to various Web sitesSecond: Relying Too Much on Advertising for Revenuefor decades publishers relied for revenues more on advertising than on readers willing to payBoston Globe and Washington Post

1-#Managing for Diversityhttp://www.census.gov/how/infographics/foreign_born.htmlChallenge to manage people of different ages, genders, races, and ethnicities.Example: Percentage of non-Hispanic Whites expected to decline as percentage of voting population beyond 2012 electionExample: Current Immigration Bill1-101-#Managing for GlobalizationExpansion from local to global marketsGlobal employment marketsOutsourcing, Offshoring, onshoring, Maquiladoras, Auto FDI in the US SouthExample: Ebay makes its possible for small businesses to sell globallyCulture differencesAvoiding prolonged direct eye contact in JapanUsing left hand to eat1-111-#Managing for Information TechnologyImplications of e-businessFar-ranging e-management and e-communicationAccelerated decision making, conflict, and stressChanges in organizational structure, jobs, goal setting, and knowledge managementExample: Using Skype to conference or customer feedback on store websites1-#Managing for Ethical StandardsEthical dilemmas about in businessOffer traditional gifts to prospective clients to win a contract Recent Business ScandalsBernie Madoffs $50 Billion Ponzi SchemeFraud at HealthSouth & EnronInsider trading at Galleon and Goldman SachsExample: AACSB focus on ethical education in business schools

1-131-#Managing for SustainabilityBeing GreenManaging company to respect the natural environment and rights of future generationsExample: WalMarthttp://corporate.walmart.com/global-responsibility/environment-sustainability

1-141-#Managing for YouNot everyone wants to be a manager or leaderDo you want autonomy? Security? Be own BossWhere is your passion?Fitting into the job and organization is keyhttp://highered.mcgraw-hill.com/sites/0077526651/student_view0/chapter1/_videos.html#

1-151-#What Managers Do: The Four Principal FunctionsFigure 1.1

1-#Pyramid Power: Levels & Areas of Management

Figure 1.21-#Pyramid Power: Levels & Areas of ManagementTop managers make long-term decisions about the overall direction of the organization and establish the objectives, policies, and strategies for it

1-#Pyramid Power: Levels & Areas of ManagementMiddle managers implement the policies and plans of the top managers above them and supervise and coordinate the activities of the first-line managers below themFirst-line managers make short-term operating decisions, directing the daily tasks of nonmanagerial personnel1-#Functional manager responsible for just one organizational activityGeneral manager responsible for several organizational activities

19Pyramid Power: Levels & Areas of ManagementFunctional manager responsible for just one organizational activityGeneral manager responsible for several organizational activities1-#Roles Managers Must Play SuccessfullyThe managers roles: Mintzbergs useful findingsA manager relies more on verbal than on written communicationA manager works long hours at an intense paceA managers work is characterized by fragmentation, brevity, & variety1-#Three Types of Managerial RolesInterpersonal roles managers interact with people inside and outside their work units figurehead, leader, liaisonInformational roles managers receive and communicate information monitor, disseminator, spokesperson 1-#Three Types of Managerial RolesDecisional roles managers use information to make decisions to solve problems or take advantage of opportunities entrepreneur, disturbance handler, resource allocator, negotiatorhttp://www.mindtools.com/pages/article/management-roles.htm

1-#The Entrepreneurial SpiritEntrepreneur someone who sees a new opportunity for a product or service and launches a business to try to realize itIntrapreneur someone who works inside an existing organization who sees an opportunity for a product or service and mobilizes the organizations resources to try to realize it

1-#Multimedia Lecture Support Package to Accompany Basic MarketingLecture Script 6-24EntrepreneursGame Day Tents and EventsPedicabStadium Student Seating AppForza1-251-#How Do Entrepreneurs & Managers DifferBeing an entrepreneur is what it takes to start a business or look for new opportunities to make moneyBeing a manager is what it takes to grow or maintain a business

1-#Both entrepreneurs and managers -have a high need for achievement-believe in personal control of destiny-have high energy levels and an action orientation-have a high tolerance for ambiguityEntrepreneurs more than managers-have high self confidence and tolerance for risk

Multimedia Lecture Support Package to Accompany Basic MarketingLecture Script 6-26The Entrepreneurial SpiritNecessity entrepreneurs people who suddenly must earn a living and are simply trying to replace lost income and are hoping a job comes alongOpportunity entrepreneurs those who start their business out of a burning desire rather than because they lost a job

1-#The Skills Exceptional Managers NeedTechnical skills the job-specific knowledge needed to perform well in a specialized fieldConceptual skills the ability to think analytically, to visualize an organization as a whole and understand how the parts work togetherHuman skills the ability to work well in cooperation with other people to get things done

1-#The Most Valued Traits in ManagersThe ability to motivate and engage othersThe ability to communicateWork experience outside the United StatesHigh energy levels to meet the demands of global travel and a 24/7 world1-#