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final commer chapter 12 n 16 .docx

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McMaster University
Rita Cossa

Chapter 12 – Management and Leadership Manager’s Roles Are Evolving  Resources – a general term that human resources, natural resources, and financial resources  Management is about deciding how to effectively use these scarce resources  Managers are educated to guide, train, support, motivate, and coach employees rather than tell them what to do  Management is an assignment; coaching is a choice  Modern managers emphasize teamwork and co-operation rather than discipline and giving orders  Traditional long-term contracts between management and employees- and the accompanying rust- are often no longer there o Increases the difficulty of the management task because managers must earn the trust of their employees, which includes rewarding them and find other ways to encourage them tow stay in the firm Functions of Management  Peter Drucker says that managers give direction to their organizations, provide leadership, and decide how to use organizational resources to accomplish goals  Management – the process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources  Planning – a management function that includes anticipating trends an determining the best strategies and tactics to achieve organizational goals and objectives  Leading – creating a vision for the organization and building, training, coaching, and motivating others to work effectively to achieve the organization’s goals and objectives  Controlling – a management function that involves establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not  Planning Leading  Setting organizational goals  Guiding and motivating employees to work  Developing strategies to reach those goals effectively to accomplish organizational goals  Determining resources needed and objectives  Setting precise standards  Giving assignments Organizing  Explaining routines  Allocating resources, assigning tasks and  Clarifying policies establishing procedures for accomplishing goals  Providing feedback on performance  Preparing a structure (organization chart) Controlling showing lines of authority and responsibility  Measuring results against corporate objectives  Recruiting, selecting, training, and developing  Monitoring performance relative to standards employees  Rewarding outstanding performance  Placing employees where they’ll be most  Taking corrective action when necessary effective Planning: Creating A Vision Based On Values  Vision – an encompassing explanation of why the organization exists and where it’s trying to head  Value – a set of fundamental beliefs that guide a business in the decision they make  Mission Statement – an outline of the fundamental purposes of an organization o Developed by top management with some input from employees o Should address the following:  The organization’s self-concept  Company philosophy and goals  Long-term survival  Customer needs  Social responsibility  The nature of the company’s product or service  Goals – the broad, long-term accomplishments an organization wishes to attain  Objectives – specific, short-term statements, detailing how to achieve the organization’s goals o Must be measurable  Questions ask: o 1. What is the situation now? What trends are being observed in the business environment? What opportunities exist for meeting customers’ needs? What products and customers are most profitable or will be profitable? What threats are there to our business?  Framing SWOT analysis  SWOT Analysis – strength, weaknesses, opportunities, and threats- how can strengths be used and capitalized on, how can weaknesses be improved, how can opportunities be exploited and how can threats be mitigated  SWOT Analysis – a planning tool used to analyze an organization’s strengths, weaknesses, opportunities, and threats  PRIMO-F – people, resources, innovation and ideas, marketing, operation, operation, and finance  Environmental analysis – PESTLE - political, economic, social, technological, legal, and environmental o 2. How can we get there from here? – most important part of planning  come in 4 forms: strategic, tactical, operational, and contingency  Strategic planning – the process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals  Forms of planning: Tactical Planning: Strategic Planning: The identification of The setting of broad, long-range goals by specific, short-range objectives by lower top managers managers Operational Planning: Contingency Planning: The setting of work standards and Backup plans in case schedules primary plans fail  Tactical Planning – the process of developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done  Operational Panning – the process of setting work standards and schedules necessary to implement the company’s tactical objectives  Contingency Planning – the process of preparing alternative courses of action that may be used if the primary plans don’t achieve the organization’s objectives  Crisis Planning – involves reacting to sudden changes in the environment  A vision (where we are going) in combination with values (how we will treat our stakeholders) and the mission statement (our purpose is), provides direction for the company  Company’s objectives what we want to accomplish) are linked to its strategy (how we will accomplish the objectives) Decision Making: Finding The Best Alternative  Decision Making – choosing among tow or more alternatives  Seven Ds o 1. Define the situation o 2. Describe and collect needed information o Develop alternatives o Develop agreement among those involved o Decide which alternative is best Do what’s indicated (begin implementation) o Determine whether the decision was a good one and follow up  Problem Solving – the process of solving the everyday problems that occurs. Problem solving is less formal than decision making and usually calls for quicker action  Brainstorming – coming up with a s many solutions to a problem as possible in a short period of time with no censoring of ideas  PMI – listing all the pluses for a solution in one column, all the minuses in another, and the interesting iin a third column Organizing: Creating a Unified System  Organization Chart - a visual device that shows relationships among people and divides the organization’s work; it shows who is accountable for the completion of specific work and who reports to whom  Top Management – highest level of management, consisting of the president and other key company executives, who develop strategic plans  Middle Management – the level of management that incudes general managers, division managers, and branch and plant managers, who are responsible for tactical planning and controlling o CEO – chief executive officer – president of firm and responsible fro all top-level decision, introducing change into org o COO – chief operating officer – putting those changes into effect, structuring work, controlling operations, and rewarding ppl (eliminating role to CEO and CFO) o CFO – chief financial officer – responsible obtaining funds, planning budges, collecting funds o CIO – chief information officer – getting right info to other managers so they make correct decisions o CKO – chief knowledge officer – getting right info to other managers so they make correct decisions  Middle Management – the level of management that includes general managers, division managers, and branch and plant managers, who are responsible for tactical planning and controlling  Supervisory Management – managers who are directly responsible for supervising workers and evaluating the daily performance Tasks and Skills at Different Levels of Management  The further up the managerial ladder a person moves, the less important his or her original job skills become  1. Technical Skills – skills that involve the ability to perform task in
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