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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