13 question

Chapter One

The Exceptional Manager:
What You Do, How You Do It

McGraw-Hill/Irwin

Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.

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Major Questions You Should Be Able to Answer

1.1 What are the rewards of being an exceptional manager?

1.2 What are seven challenges I can look forward to as a manager?

1.3 What would I actually do—that is, what would

be my four principal functions—as a manager?

1.4 What are the levels and areas of management I need to know to move up, down, and sideways?

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Major Questions You Should Be Able to Answer

1.5 To be an exceptional manager, what roles must I play successfully?

1.6 Do I have what it takes to be an entrepreneur?

1.7 To be a terrific manager, what skills should I cultivate?

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Management: What It Is, What Its Benefits Are

Managers operate within an organization

Organization

a group of people who work together to achieve some specific purpose

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Management: What It Is, What Its Benefits Are

Management is defined as

The pursuit of organizational goals efficiently and effectively by

Integrating the work of people through

Planning, organizing, leading, and controlling the organization’s resources

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Management: What It Is, What Its Benefits Are

To be efficient means to use resources -people, money, raw materials, and the like -wisely and cost-effectively

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Management: What It Is, What Its Benefits Are

To be effective means to achieve results, to make the right decisions and to successfully carry them out so that they achieve organizational goals

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Question?

Burger King decided to add breakfast to its hours of operation in order to increase its customers. This was an attempt to improve the organization's:

Effectiveness

Planning

Leading strategy

Efficiency

The correct answer is “A” – effectiveness.

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Example – Efficiency versus Effectiveness

Many companies now use a recorded “telephone menu” of options to answer customer calls

This is efficient for the companies, but not effective

Most consumers prefer a live agent

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Rewards of Studying Management

Understanding how to deal with organizations from the outside

Understanding how to relate to your supervisors

Understanding how to interact with co-workers

Understanding how to manage yourself in the workplace

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Rewards of Practicing Management

You and your employees can experience a sense of accomplishment

You can stretch your abilities and magnify your range

You can build a catalog of successful products or services

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Seven Challenges to Being an Exceptional Manager

Managing for competitive advantage – staying ahead of rivals

Managing for diversity – the future won’t resemble the past

Managing for globalization – the expanding management universe

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Seven Challenges to Being an Exceptional Manager (cont.)

Managing for information technology

Managing for ethical standards

Managing for Sustainability— The Business of Green

Managing for your own happiness & life goals

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Example – Losing Competitive Advantage: How Did Newspapers Lose Their Way?

First: Giving Away the Product

newspaper proprietors, decided to promote their product by giving it away for free to various Web sites

Second: Relying Too Much on Advertising for Revenue

for decades publishers relied for revenues more on advertising than on readers willing to pay

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Managing for Competitive Advantage

Competitive advantage

the ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them

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Managing for Competitive Advantage

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Question?

John wants his salespeople to use iPhones to improve their sales? Which challenge is he trying to manage?

Diversity

Information technology

Competitive advantage

Globalization

The correct answer is “B” – Information technology. See page 10.

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By 2015, consumers are projected to spend $1.4 trillion online, a rise of 13.5 % annually

Information technology has facilitated
e-business, using the Internet to facilitate every aspect of running a business

Managing for Information Technology

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Managing for Information Technology

Implications of e-business

Far-ranging e-management and e-communication

Accelerated decision making, conflict, and stress

Changes in organizational structure, jobs, goal setting, and knowledge management

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Managing for Sustainability

Sustainability

economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

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What Managers Do: The Four Principal Functions

Figure 1.1

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Question?

Laura runs a sales and expense report at the end of each work day? Which management function is she performing?

Leading

Organizing

Controlling

Planning

The correct answer is “C” – controlling. Se

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Pyramid Power: Levels & Areas of Management

Figure 1.2

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Pyramid Power: Levels & Areas of Management

Top managers

make long-term decisions about the overall direction of the organization and establish the objectives, policies, and strategies for it

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Pyramid Power: Levels & Areas of Management

Middle managers

implement the policies and plans of the top managers above them and supervise and coordinate the activities of the first-line managers below them

First-line managers

make short-term operating decisions, directing the daily tasks of nonmanagerial personnel

Functional manager

responsible for just one organizational activity

General manager

responsible for several organizational activities

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Pyramid Power: Levels & Areas of Management

Functional manager

responsible for just one organizational activity

General manager

responsible for several organizational activities

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Question?

Donielle supervises the food assembly line workers. What type of manager is she?

Top manager

Middle manager

First-line manager

General manager

The correct answer is “C” – first-line manager.

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Roles Managers Must Play Successfully

The manager’s roles: Mintzberg’s useful findings

A manager relies more on verbal than on written communication

A manager works long hours at an intense pace

A manager’s work is characterized by fragmentation, brevity, & variety

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Three Types of Managerial Roles

Interpersonal roles

managers interact with people inside and outside their work units

figurehead, leader, liaison

Informational roles

managers receive and communicate information

monitor, disseminator, spokesperson

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Three Types of Managerial Roles

Decisional roles

managers use information to make decisions to solve problems or take advantage of opportunities

entrepreneur, disturbance handler, resource allocator, negotiator

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Question?

CEO, Gary Kelly sets the direction and strategy for Southwest Airlines. What type of managerial role is he performing?

Interpersonal

Informational

Decisional

Conclusive

The correct answer is “D” – Decisional.

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The Entrepreneurial Spirit

Entrepreneurship

process of taking risks to try to create a new empire

Entrepreneur,
intrapreneur

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The Entrepreneurial Spirit

Entrepreneur

someone who sees a new opportunity for a product or service and launches a business to try to realize it

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The Entrepreneurial Spirit

Intrapreneur

someone who works inside an existing organization who sees an opportunity for a product or service and mobilizes the organization’s resources to try to realize it

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How Do Entrepreneurs & Managers Differ

Being an entrepreneur is what it takes to start a business

Being a manager is what it takes to grow or maintain a business

Both entrepreneurs and managers

-have a high need for achievement

-believe in personal control of destiny

-have high energy levels and an action orientation

-have a high tolerance for ambiguity

Entrepreneurs more than managers

-have high self confidence and tolerance for risk

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The Entrepreneurial Spirit

Necessity entrepreneurs

people who suddenly must earn a living and are simply trying to replace lost income and are hoping a job comes along

Opportunity entrepreneurs

those who start their business out of a burning desire rather than because they lost a job

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Question?

George thought there was an opportunity and opened a new deli in Irmo. He is a(n) __________.

Manager

Intrapreneur

Entrepreneur

Omni-preneur

The correct answer is “C” – entrepreneur.

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The Skills Exceptional Managers Need

Technical skills

the job-specific knowledge needed to perform well in a specialized field

Conceptual skills

the ability to think analytically, to visualize an organization as a whole and understand how the parts work together

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The Skills Exceptional Managers Need

Human skills

the ability to work well in cooperation with other people to get things done

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The Most Valued Traits in Managers

The ability to motivate and engage others

The ability to communicate

Work experience outside the United States

High energy levels to meet the demands of global travel and a 24/7 world