Bill Gates Chairman and Chief Software Architect Microsoft The Importance of Business Management 11 The Business World Today Constant change Technology Society Environment Competition Diversity ID: 133580
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“Companies fail when they become complacent and imagine that they will always be successful. So we are always challenging ourselves. Even the most successful companies must constantly reinvent themselves.
--Bill Gates
Chairman and Chief Software Architect
MicrosoftSlide2
The Importance of Business Management1.1Slide3
The Business World TodayConstant change!
Technology
Society
Environment
Competition
DiversitySlide4
What is Management?The process of deciding how best to use a business’s resources to produce good or provide services
Employees
Equipment
MoneySlide5
What is Management?Auto industry managers
Assembly line: schedule work shifts, supervise assembly of vehicles
Engineering: develop new product features, enforce safety standards
General: plan for the future
All organizations need managers!Slide6
Levels of Management
Senior management
Establishes the goal/objectives of the business
Decides how to use the company’s resources
Not involved in the day-to-day problems
Set the direction the company will follow
Chairperson of the company’s board of directors, CEO, COO, senior vice presidentsSlide7
Levels of Management
Middle management
Responsible for meeting the goals that senior management sets
Sets goals for specific areas of the business
Decides which employees in each area must do to meet goals
Department heads, district sales managersSlide8
Levels of Management
Supervisory management
Make sure the day-to-day operations of the business run smoothly
Responsible for the people who physically produce the company's products or services
Forepersons, crew leaders, store managersSlide9
The Management PyramidSlide10
The Management Process
Three ways to examine how management works:
Tasks performed
Planning, organizing, staffing, leading, controlling
Roles played (set of behaviors associated with a particular job)
Interpersonal, information-based, decision-making
Skills needed
Conceptual, human relations, technicalSlide11
The Management ProcessPlanning
Decides company goals and the actions to meet them
CEO sets a goal of increasing sales by 10% in the next year by developing a new software programSlide12
The Management ProcessOrganizing
Groups related activities together and assigns employees to perform them
A manager sets up a team of employees to restock an aisle in a supermarketSlide13
The Management ProcessStaffing
Decides how many and what kind of people a business needs to meet its goals and then recruits, selects, and trains the right people
A restaurant manager interviews and trains serversSlide14
The Management ProcessLeading
Provides guidance employees need to perform their tasks
Keeping the lines of communication open
Holding regular staff meetingsSlide15
The Management ProcessControlling
Measures how the business performs to ensure that financial goals are being met
Analyzing accounting records
Make changes if financial standards not being metSlide16
Relative Amount of Emphasis Placed on Each Function of ManagementSlide17
Management RolesManagers have authority within organizations
Managers take on different roles to best use their authority
Interpersonal roles
Information-related roles
Decision-making rolesSlide18
Management Roles
Interpersonal roles
A manager’s relationships with people
Providing leadership with the company
Interacting with others outside the organization
Senior managers spend much of their time on interpersonal roles
Represent the company in its relations with people outside the company, interacting with those people, and providing guidance and leadership to the organization
Determine a company’s culture
Sears, Roebuck and Co.Slide19
Management Roles
Information-related roles
Provide knowledge, news or advice to employees
Holding meetings
Finding ways of letting employees know about important business activities
Decision-making roles
Makes changes in policies, resolves conflicts, decides how to best use resources
Middle and supervisory managers spend more time resolving conflicts than senior managersSlide20
Management SkillsConceptual skills
Skills that help managers understand how different parts of a business relate to one another and to the business as a whole
Decision making, planning, and organizingSlide21
Management SkillsHuman relations skills
Skills managers need to understand and work well with people
Interviewing job applicants, forming partnerships with other businesses, resolving conflictsSlide22
Management SkillsTechnical skills
The specific abilities that people use to perform their jobs
Operating a word processing program, designing a brochure, training people to use a new budgeting systemSlide23
Management SkillsAll levels of management require a combination of conceptual, human relations, and technical skills
Conceptual skills most important at senior management level
Technical skills most important at lower levels
Human relations skills important at all levelsSlide24
Principles of ManagementA
principle
is a basic truth or law
Managers often use certain rules when deciding how to run their business
Most management principles are developed through observation and deductionSlide25
Principles of ManagementDeduction is the process of drawing a general conclusion from specific examples
Observe that employees in 15 companies work more efficiently when their supervisors threat them well
Deduce/conclude that a pleasant work environment contributes to productivity
Conclusion becomes a management principleSlide26
Principles of ManagementManagement principles are best viewed as guides to action rather than rigid laws
If a principle does not apply to a specific situation, an experienced manager will not use it
Important to recognize when a principle shouldn’t be followed
Being able to change and adapt is an important management skillSlide27
Principles of ManagementDo all employees need to arrive at work at the same time?
Do people who work in offices need to dress in a certain way?Slide28
Women and Minoritiesin Management
In the last three decades, an increased number of women and minorities have joined the workforce
They’ve attained positions as managers in companies of all sizes
Women and minorities now serve as the CEOs of prestigious businesses
Avon, eBay, LucentSlide29
Women and Minoritiesin Management
White men
still hold most senior management positions
Glass ceiling
: the invisible barrier that prevents women and minorities from moving up in the world of business
Steadily becoming a window of opportunity!Slide30
Women and Minoritiesin Management
Workers and managers must be sensitive to challenges presented by a multicultural workplace
Religious holidays that are celebrated at different times throughout the year by Muslims, Christians, Jews and other religious groups