help in business management

Professor: Ann Swiech

Spring 2014

Property of Professor Swiech-Notes Cannot be reproduce without permission

Attendance

Introductions

Name

Year in College (Junior, Senior)

Major

If you were an animal, what would you be and why or;

What is one goal you would like to accomplish during your lifetime?

Go through syllabus

Exercise: Count off in fives, find your group and collaborate on the following question: ‘Many times we use the word manager and leader interchangeably, is there a difference between a manager and a leader; and if so what are the differences?’ Please discuss with your group, everyone should participate with their input, come to agreement on your answer. Select a spokesperson for your group to communicate your groups answer.

Chapter 1:

Management: Getting things done through other people.

Whether they report to you or not (influencing skills)

Different types of Managers : This is not in the book, but based on my experiences

1. Manage a function but not people – i.e. a Procurement Manager

2. Manage people but not necessarily a function – i.e. HR Manager

3. Manage people and a function_ Operations Manager

Principles of Management : Is how you get things done through other people. Influencing is very important here, especially if you are an individual contributor

P-O-L-C: Management Functions

Planning: Setting objectives and determining a course of action

Organizing: Designing an organizational structure and allocating resources to meet objectives

Leading: The social and informal sources of influence that you use to inspire action taken by others

Controlling: Ensuring that performance does not deviate from standards

Exercise/Case Study: page 9- Doing Good as a core business strategy – Goodwill Industries

Case Study Questions:

There is a discussion on page 11 about types of managers:

Top Managers

Line Managers

These are not used too frequently today, except maybe in a production or distribution facility. Typically there are Supervisors, Managers and Senior Managers

The Nature of Managerial Work:

Professor Henry Mintzberg conducted a study in the 1970s on what managers actually do.

The figure on page 12 illustrates “The Ten Managerial Roles”

Interpersonal Figurehead – rep the workers Provide Information

Leader – tells people what to do

Liaison - go between with higher mgmt.

Informational Monitor -is work being completed Process Information

Disseminator -communication/information

Spokesperson-to higher mgmt.

Decisional Entrepreneur Use Information

Disturbance Handler

Resource Allocator

Negotiator

Students should review exercise on page 13

Leadership, Entrepreneurship and Strategy : page 13

The principles of management are drawn from a number of academic fields, including:

Leadership: The ability to influence others toward a common goal – Who: Who helps lead the organization forward

Entrepreneurship: The recognition of opportunities and the use of resources to execute new ideas for a new venture. Example: ability of Google to anticipate needs – What: What an organizations purpose is-identifying opportunities and solving problems

Strategy: a concept of how an organization will achieve its objectives-How: Make sure a good strategy is in place to realize those opportunities

Principles of Management have 4 major functions page 17:

Planning: Establishing the Vision and Mission Statement, strategizing, goals and objectives

Strategic Planning: Usually has a long time frame; 3 years plus. Looks at competitive threats, strengths, and weaknesses. Based on the organizations vision

Tactical Planning : Intermediate range, 1-3 years specific means to implement the strategy, mid-managers are involved

Operational Planning: Short range (less than 1 year), specific action plans to meet tactical and strategic plan

Example:

Strategic Plan: Gain 3% additional market share vs. 2012 within 5 years

Tactical Plan: Increase marketing presence in print media by 25% and reduce retail pricing by 4% from 2012 levels

Operational Plan: Hire a new Marketing Manager with extensive print media experience, deconstruct costs in order to gain cost savings and analyze direct material strategic sourcing opportunities to reduce cost and increase customer expectations

Organizing: Organization design, culture (environment) and social networks

Designing an organizational structure and allocating resources to meet objectives

Leading: Leadership, decision making, communications, groups/teams, motivation

The social and informal sources of influence that you use to inspire action taken by others

Controlling: Systems, processes, ALSO ADD in audit and contingency plans

Ensuring that performance does not deviate from standards that have been set

3 Steps :

1. Establish performance standards-what will you measure, how and what are consequences

2. Compare actual performance vs. the standard

3. Corrective Measure ALSO ADD: Consequences

Example: Transportation Quality Review: a program based on 6 Sigma that reviews a supplier’s performance on set criteria, with an established weighting of categories and consequences and corrective measure based on results

Economic, Social and Environmental Performance:

Economic Performance: Providing some sort of benefit through product innovation and efficient use of resources. This is usually associated with some type of profit.

Social and Environmental Performance: This is a form of measure that is becoming more popular in the business world. Now there are courses on it in schools, and many companies have their own CSR: Corporate Social Responsibility position and/or department. It has companies taking interest s in society and some form of responsibility for their impact on their suppliers, customers, employees, shareholders, communities and environment. To take it further companies look at improving the quality of life for its employees, their families and the local community where they are located. You can see this many times by large corporations that have a dominant presence in a town having their employees volunteering to better the community in some way (new landscaping, painting old structures etc.).

Two companies that were trailblazers in this area were Ben and Jerry’s and S.C. Johnson.

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