COMM 103 Chapter Notes - Chapter 8: Profit Sharing, Acclimatization

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Chapter 8: managing and leading the organization"s talent. Management encompasses 4 areas of responsibility: market assessment and strategy development, financial resource management, business system design, development and implementation, attracting, retaining, and managing talent. Organizations need to invest in their human assets with the following: Job position identification -> recruitment -> selection -> intake -> acclimatization and training. The motivational toolkit: trust and respect, approval, praise recognition. Lead by example: enrichment, negotiation skills, the manager"s ability to remove barriers, get resource and enhance processes for their team, treasure, sufficient monetary rewards. To be able to organize, develop, direct, and lead their team, managers need to fully understand the direction the organization is pursuing and the key competitive advantages it has in terms of attracting customers. Skills managers need: conceptual skills, visualize and communicate the big picture. Leadership styles are driven by the power base that a manager uses in overseeing their responsibility within an organization.

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