MANAGEMENT
Chapter Objectives
1. Define the term management and explain the
managerial significance of the terms effectiveness
and efficiency.
2. Identify and summarize five major sources of
change for today’s managers.
3. Contrast the functions and role approaches to
explaining what managers do.
4. Summarize the ten facts of managerial life.
5. Explain how managers learn to manage.
Four Realities of
Managing Today
1. The only certainty today is change.
2. Speed, teamwork, and flexibility are the
orders of the day.
3. Managers at all levels need to stay close to
the customer/client.
4. Without continuous improvement and
lifelong learning, there can be no true
progress.
Management Defined
• Management
The process of working with and through others to
achieve organizational objectives in a changing
environment.
Management entails the effective and efficient use
of limited resources.
Key Aspects of the Management Process
Working with and
Through Others
• Management is a social process in which
managers get things done by working with and
through others.
• Shortcomings of “derailed” managers
Problems with interpersonal relationships
Failure to build and lead a team
Inability to change and adapt during a transition
Achieving Organizational
Objectives
• An objective is a target to be strived for and
attained.
Challenging yet achievable objectives provide
guidance for effective and efficient actions by
individuals and organizations.
Balancing Effectiveness
and Efficiency
• Effectiveness • Efficiency
Entails promptly Entails balancing the
achieving a stated amount of resources
organizational used to achieve an
objective. objective against what
Managers are held was actually
responsible for accomplished.
attaining objectives. Managers must not
waste scarce and
costly resources.
Balancing Effectiveness and Efficiency (cont’d)
Making the Most of
Limited Resources
• We live in a world of scarcity.
• Over 80% of the world’s population lives in
poor and less-developed countries.
• Managers are responsible for the efficient and
effective use of the basic factors of
production–land, labor, and capital.
Coping with a
Changing Environment
• Five Major Sources of Change for Today’s
Managers
Globalization
Environmentalism
An ethical reawakening
The Internet and the e-business revolution
The evolution of product quality
Ethical Problems
in the Workplace
• Lying to supervisors
• Lying on reports or falsifying records
• Stealing and theft
• Sexual harassment
• Abusing drugs or alcohol
• Conflict of interest
What Do Managers Do?
• Managerial Functions
General administrative duties that need to be
carried out in virtually all productive organizations
to achieve desired outcomes.
• Managerial Roles
Specific categories of managerial behavior that
managers use to achieve desired outcomes.
Identifiable
Functions in the
Management
Process
Managerial Functions
• Planning
Formulating future courses of action.
• Decision making
Choosing among the alternatives for action.
• Organizing
Deciding on the HR structure of the organization.
• Staffing
Recruiting, training, and developing people.
• Communicating
Providing information, direction, and feedback.
Managerial Functions (cont’d)
• Motivating
Providing meaningful work and valued rewards to
individuals pursuing collective objectives.
• Leading
Serving as role models and adapting management
styles as the situation demands.
• Controlling
Comparing desired results with actual results and
taking corrective action as needed.
Mintzberg’s Managerial Roles
Mintzberg’s Managerial Roles (cont’d)
Mintzberg’s Managerial Roles (cont’d)
Merging Functions and Roles
• What Managers Lose the Right to Do
Lose their temper.
Be one of the gang.
Bring personal problems to work.
Vent frustrations and express opinions at work.
Resist change.
Pass the buck on tough assignments.
Get even with adversaries.
Play favorites.
Merging Functions and Roles (cont’d)
• What Managers Lose the Right to Do (cont’d)
Put self-interests first.
Ask others to do what they wouldn’t do.
Expect to be immediately recognized and rewarded
for doing a good job.
Learning to Manage
• How Do Managers Learn to Manage?
By attending the school of “hard knocks”
• Making a big mistake.
• Being overstretched by a difficult assignment.
• Feeling threatened.
• Being stuck in an impasse or dilemma.
• Suffering an injustice at work.
• Losing out to someone else.
• Being personally attacked.
The Honeymoon
Study: How
Managers Learn to
Manage
How Can Future
Managers Learn to Manage?
• Future managers can learn by
integrating management theory (i.e., formal
training and education) and managerial practice
(e.g., work-study and internships).
observing role models.
learning from experiences in the school of hard
knocks.
Thank you
