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Chapter 1

Chapter 1 BU481.docx

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Department
Business
Course
BU481
Professor
Karin Schnarr
Semester
Fall

Description
BU481Chapter 1A General Management PerspectiveWeek 1The Job of the General ManagerThe job of the general manager is to create value for the enterprise You need to recognize emerging opportunities and challenges prepare a response and ensure the success of whatever plan of action you decide upon Three fundamental components of the general managers job setting direction creating strategy and implementing change One further crucial aspect of the job is assessing performanceboth current and longer term A good general manager will perform all four of these tasksthe tasks will not be addressed sequentially or in isolation from each other but as a continuously changing mix of activities Assessing PerformanceThere are many approaches to take in sizing up performance and each industry and company will have its own metrics based on the key performance drivers Our assessment of organizational performance is based on two sets of measures operating performance and organizational health Operating performance includes the hard or more quantitative measures of financial and market performance Measures of organizational health are generally softer and more qualitative than those of operating performance and include such things as management an worker enthusiasm the ability to work across boundaries and the ability of the organization to learn It is important to recognize that the drivers of performance for any company or industry are often interrelated in important ways with key leading and lagging indicators Typical Measures
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