AS2.1 Please read Chapter 1 (1.2, 1.3, 1.4) in order to:
1. Learn who managers are and about the nature of their work.
2. Know why you should care about leadership, entrepreneurship, and strategy.
3. Know the dimensions of the planning-organizing-leading-controlling (P-O-L-C) framework.
1.2 Who Are Managers?
LEARNING OBJECTIVES
1. Know what is meant by “manager”.
2. Be able to describe the types of managers.
3. Understand the nature of managerial work.
1. Managers
* Top managers are responsible for developing the organization’s strategy and being a steward for its vision and mission.
* Functional managers are responsible for the efficiency and effectiveness of an area, such as accounting or marketing.
* Supervisory or team managers are responsible for coordinating a subgroup of a particular function or a team composed of members from different parts of the organization.
* A line manager (often called a product, or service manager) leads a function that contributes directly to the products or services the organization creates.
* A staff manager leads a function that creates indirect inputs.
* Project manager has the responsibility for the planning, execution, and closing of any project.
* A general manager is someone who is responsible for managing a clearly identifiable revenue-producing unit, such as a store, business unit, or product line
1.1 Empowerment
* Empowerment is the process of enabling or authorizing an individual to think, behave, take action, and control work and decision making in autonomous ways.
* Figure 1.4 The Changing Roles of Management and Managers
2. The Nature of Managerial Work
* Figure 1.5 Ten Managerial Roles
* Managers are responsible for getting work done through others. We typically describe the key managerial functions as planning, organizing, leading, and controlling.
KEY TAKEAWAY
EXERCISES
1. Why do organizations need managers?
2. What are some different types of managers and how do they differ?
3. What are Mintzberg’s 10 managerial roles?
4. What three areas does Mintzberg use to organize the 10 roles?
5. What four general managerial functions do principles of management include?
1.3 Leadership, Entrepreneurship, and Strategy
LEARNING OBJECTIVES
1. Know the roles and importance of leadership, entrepreneurship, and strategy in principles of management.
2. Understand how leadership, entrepreneurship, and strategy are interrelated.
1. Leadership
* Management is defined as getting things done through others.
* Leadership is defined as the social and informal sources of influence that you use to inspire action taken by others.
2. Entrepreneurship
* Entrepreneurship is defined as the recognition of opportunities (needs, wants, problems, and challenges) and the use or creation of resources to implement innovative ideas for new, thoughtfully planned ventures.
3. Strategy
* Strategy is the central, integrated, externally-oriented concept of how an organization will achieve its objectives.
* Strategic management is the body of knowledge that answers questions about the development and implementation of good strategies.
4. Synchronizing Leadership, Entrepreneurship, and Strategy
* Leadership helps you understand who helps lead the organization forward and what the critical characteristics of good leadership might be.
* Entrepreneurial firms and entrepreneurs in general are fanatical about identifying opportunities and solving problems.
* Strategic management aims to make sure that the right choices are made.
5. Help Wanted—Chief of Staff
* Marketing, Sales, Finance and Accounting, Operations, HR and Recruiting, Production and Product Development
KEY TAKEAWAY
EXERCISES
1. How do you define leadership, and who would you identify as a great leader?
2. What is entrepreneurship?
3. What is strategy?
4. What roles do leadership, entrepreneurship, and strategy play in good principles of management?
1.4 Planning, Organizing, Leading, and Controlling
LEARNING OBJECTIVES
1. Know the dimensions of the planning-organizing-leading-controlling (P-OL-C) framework.
2. Know the general inputs into each P-O-L-C dimension.
0. Principles of management
* Principles of management have long been categorized into the four major functions of planning, organizing, leading, and controlling (the P-O-L-C framework).
* Figure 1.7 The P-O-L-C Framework
1. Planning
* Planning is the function of management that involves setting objectives and determining a course of action for achieving those objectives.
* Strategic planning, Tactical planning, Operational planning
2. Organizing
* Organizing is the function of management that involves developing an organizational structure and allocating human resources to ensure the accomplishment of objectives.
3. Leading
* Leading involves the social and informal sources of influence that you use to inspire action taken by others
4. Controlling
* Controlling involves ensuring that performance does not deviate from standards. Controlling consists of three steps,
** establishing performance standards
** comparing actual performance against standards
** taking corrective action when necessary
KEY TAKEAWAY
EXERCISES
1. What are the management functions that comprise the P-O-L-C framework?
2. Are there any criticisms of this framework?
3. What function does planning serve?
4. What function does organizing serve?
5. What function does leading serve?
6. What function does controlling serve?
AS2.1 Please read Chapter 1 (1.2, 1.3, 1.4) in order to:1. Learn who managers are and about the nature of their work.2. Know why you should care about leadership, entrepreneurship, and strategy.3. Know the dimensions of the planning-organizing-leading-controlling (P-O-L-C) framework.1.2 Who Are Managers?LEARNING OBJECTIVES1. Know what is meant by “manager”.2. Be able to describe the types of managers.3. Understand the nature of managerial work.1. Managers* Top managers are responsible for developing the organization’s strategy and being a steward for its vision and mission.* Functional managers are responsible for the efficiency and effectiveness of an area, such as accounting or marketing.* Supervisory or team managers are responsible for coordinating a subgroup of a particular function or a team composed of members from different parts of the organization.* A line manager (often called a product, or service manager) leads a function that contributes directly to the products or services the organization creates.* A staff manager leads a function that creates indirect inputs.* Project manager has the responsibility for the planning, execution, and closing of any project.* A general manager is someone who is responsible for managing a clearly identifiable revenue-producing unit, such as a store, business unit, or product line1.1 Empowerment* Empowerment is the process of enabling or authorizing an individual to think, behave, take action, and control work and decision making in autonomous ways.* Figure 1.4 The Changing Roles of Management and Managers2. The Nature of Managerial Work* Figure 1.5 Ten Managerial Roles* Managers are responsible for getting work done through others. We typically describe the key managerial functions as planning, organizing, leading, and controlling.KEY TAKEAWAYEXERCISES1. Why do organizations need managers?2. What are some different types of managers and how do they differ?3. What are Mintzberg’s 10 managerial roles?4. What three areas does Mintzberg use to organize the 10 roles?5. What four general managerial functions do principles of management include?1.3 Leadership, Entrepreneurship, and StrategyLEARNING OBJECTIVES1. Know the roles and importance of leadership, entrepreneurship, and strategy in principles of management.2. Understand how leadership, entrepreneurship, and strategy are interrelated.1. Leadership* Management is defined as getting things done through others.* Leadership is defined as the social and informal sources of influence that you use to inspire action taken by others.2. Entrepreneurship* Entrepreneurship is defined as the recognition of opportunities (needs, wants, problems, and challenges) and the use or creation of resources to implement innovative ideas for new, thoughtfully planned ventures.3. Strategy* Strategy is the central, integrated, externally-oriented concept of how an organization will achieve its objectives.* Strategic management is the body of knowledge that answers questions about the development and implementation of good strategies.4. Synchronizing Leadership, Entrepreneurship, and Strategy* Leadership helps you understand who helps lead the organization forward and what the critical characteristics of good leadership might be.* Entrepreneurial firms and entrepreneurs in general are fanatical about identifying opportunities and solving problems.* Strategic management aims to make sure that the right choices are made.5. Help Wanted—Chief of Staff* Marketing, Sales, Finance and Accounting, Operations, HR and Recruiting, Production and Product DevelopmentKEY TAKEAWAYEXERCISES1. How do you define leadership, and who would you identify as a great leader?2. What is entrepreneurship?3. What is strategy?4. What roles do leadership, entrepreneurship, and strategy play in good principles of management?1.4 Planning, Organizing, Leading, and ControllingLEARNING OBJECTIVES1. Know the dimensions of the planning-organizing-leading-controlling (P-OL-C) framework.2. Know the general inputs into each P-O-L-C dimension.0. Principles of management* Principles of management have long been categorized into the four major functions of planning, organizing, leading, and controlling (the P-O-L-C framework).* Figure 1.7 The P-O-L-C Framework1. Planning* Planning is the function of management that involves setting objectives and determining a course of action for achieving those objectives.* Strategic planning, Tactical planning, Operational planning2. Organizing* Organizing is the function of management that involves developing an organizational structure and allocating human resources to ensure the accomplishment of objectives.3. Leading* Leading involves the social and informal sources of influence that you use to inspire action taken by others4. Controlling* Controlling involves ensuring that performance does not deviate from standards. Controlling consists of three steps,** establishing performance standards** comparing actual performance against standards** taking corrective action when necessaryKEY TAKEAWAYEXERCISES1. What are the management functions that comprise the P-O-L-C framework?2. Are there any criticisms of this framework?3. What function does planning serve?4. What function does organizing serve?5. What function does leading serve?6. What function does controlling serve?
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