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7/29/2019 Student 07
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 1
From Planning toInspiration:
The Functions ofManagement
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 2
Managerial Functions
Planning
Organizing
Leading
Controlling
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 3
The Roles of Management
Interpersonal
Informational
Decisional
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 4
The Planning Function
Develop strategies for success
Set goals and objectives
Develop action plans
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 5
The Planning Process
Develop a clear vision
Create a mission statement
Perform SWOT analysis
Develop forecasts
Analyze the competition Set goals and objectives
Develop action plans
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 6
Clarity of Vision
Development
Communication
Execution
Modification
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 7
The Mission Statement
Objectives
Goals
Philosophies
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 8
SWOT Analysis
Strengths
Weaknesses
Opportunities
Threats
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 9
Managerial Forecasts
Qualitative forecasting
Intuitive judgments
Consumer research
Quantitative forecasting
Historical dataStatistical computations
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 10
Competitive Analysis
Differentiation strategy
Cost leadership strategy
Focus strategy
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 11
Company Goals and
Objectives Goals
Broad, long-range
Objectives Specific, short-range
Benefits
Boosts motivation
Sets standards Guides activity
Clarifies expectations
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 12
Action Plans
Tactical plans
Operational plans
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 13
Planning for a Crisis
Minimize damage
Contingency plans
Maintain operations
Open communications
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 14
The Organizing Function
Employee activities
Facilities and equipment
Decision making
Supervision
Resource distribution
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 15
The Management Pyramid
Top managers
Middle managers
First-line managers
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 16
The Leading Function
Managers
Position power
Leaders
Personal power
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 17
Leadership Qualities
Intelligence quotient (IQ)
Emotional quotient (EQ)
Social quotient (SQ)
Change quotient (CQ)
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 18
Leadership Styles
Autocratic
Democratic
Laissez-faire
Contingency
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 19
Continuum of Leader
Behavior Manager makes decision
Manager sells decision
Manager presents ideas
Manager makes tentative decision
Manager presents problem Manager sets decision limits
Employees make decision
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 20
Types of Leaders
Transactional
Meeting established goals
Clarifying organizational roles Securing correct resources
Transformational
Inspiring employees Finding creative solutions
Promoting success
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 21
Additional Leadership
Functions Coaching
Mentoring
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 22
Managing Change
Identify what needs to change
Identify forces for and against change
Select the best approach
Reinforce and monitor behavior
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 23
Organizational Culture
Attitudes about work
Appropriate attire
Employee interactions
Communication patterns
Business conduct
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 24
The Controlling Function
Monitoring progress
Resetting the course
Correcting deviations
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 25
The Control Cycle
Set strategic goals
1 . Set standards
2 . Measure performance3 . Compare to standard
4 . Inadequate take action
Correct performance
Reevaluate standards
4 . Adequate take no action
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 26
Management Skills
Interpersonal
Technical
Administrative
Conceptual
Decision-making
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Prentice Hall, 2007 Excellence in Business, 3e Chapter 7 - 27
The Decision-Making Process
Recognize and define situation
Identify options
Analyze options
Select the best option
Implement the decision
Monitor and evaluate the results