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The Functions Of ManagementThe Functions Of Management

►ManagementManagement the process of working with people and resources the process of working with people and resources

to accomplish organizational goalsto accomplish organizational goals good managers must be:good managers must be:

►effectiveeffective - achieve organizational goals - achieve organizational goals►efficientefficient - achieve goals with minimum waste of - achieve goals with minimum waste of

resourcesresources

there are timeless principles of managementthere are timeless principles of management►still important for making managers and companies still important for making managers and companies

greatgreat►must add fresh thinking and new approachesmust add fresh thinking and new approaches

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Planning

Leading

Controlling

The Functions Of Management The Functions Of Management (cont.)(cont.)

Organizing

►The manager who does not devote adequate The manager who does not devote adequate attention and resources to attention and resources to all fourall four functions will fail functions will fail

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The Functions Of Management The Functions Of Management (cont.)(cont.)

►PlanningPlanning specifying the goals to be achieved and specifying the goals to be achieved and

deciding in advance the appropriate actions deciding in advance the appropriate actions taken to achieve those goalstaken to achieve those goals

delivering strategic valuedelivering strategic value - planning - planning function for the new erafunction for the new era

►a dynamic process in which the organization uses a dynamic process in which the organization uses the brains of its members and of stakeholders to the brains of its members and of stakeholders to identify opportunities to maintain and increase identify opportunities to maintain and increase competitive advantagecompetitive advantage

►process intended to create more value for the process intended to create more value for the customercustomer

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The Functions Of Management The Functions Of Management (cont.)(cont.)

►OrganizingOrganizing assembling and coordinating the human, assembling and coordinating the human,

financial, physical, informational, and other financial, physical, informational, and other resources needed to achieve goalsresources needed to achieve goals

building a dynamic organizationbuilding a dynamic organization - - organizing function for the new eraorganizing function for the new era

►viewing people as the most valuable resourceviewing people as the most valuable resource►the future requires building flexible the future requires building flexible

organizations organizations

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The Functions Of Management The Functions Of Management (cont.)(cont.)

►LeadingLeading stimulating people to be high performersstimulating people to be high performers in the new era, managers must be good at in the new era, managers must be good at mobilizing mobilizing

peoplepeople to contribute their ideas to contribute their ideas►ControllingControlling

monitoring progress and implementing necessary monitoring progress and implementing necessary changeschanges

makes sure that goals are metmakes sure that goals are met new technology makes it possible to achieve more new technology makes it possible to achieve more

effective controlseffective controls for the future, will have to be able to monitor continuous for the future, will have to be able to monitor continuous

learning and changinglearning and changing

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Management LevelsManagement Levels

►Top-level managers (Top-level managers (strategic managersstrategic managers)) senior executives responsible for the overall senior executives responsible for the overall

management and effectiveness of the organizationmanagement and effectiveness of the organization focus on long-term issuesfocus on long-term issues emphasize the survival, growth, and effectiveness of emphasize the survival, growth, and effectiveness of

the firmthe firm concerned with the interaction between the concerned with the interaction between the

organization and its external environmentorganization and its external environment titles include Chief Executive Officer (CEO), Chief titles include Chief Executive Officer (CEO), Chief

Operating Officer (COO), company presidents and Operating Officer (COO), company presidents and vice presidentsvice presidents

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Management Levels (cont.)Management Levels (cont.)

►Middle-level managers (Middle-level managers (tacticaltactical managersmanagers)) located between top-level and frontline located between top-level and frontline

managers in the organizational hierarchymanagers in the organizational hierarchy responsible for translating strategic goals and responsible for translating strategic goals and

plans into more specific objectives and activitiesplans into more specific objectives and activities traditional role was that of an administrative traditional role was that of an administrative

controller who bridged the gap between higher controller who bridged the gap between higher and lower levelsand lower levels

provide operating skills and practical problem provide operating skills and practical problem solving the keep the company workingsolving the keep the company working

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Management Levels (cont.)Management Levels (cont.)

►Frontline managers (Frontline managers (operationaloperational managersmanagers)) lower-level managers who supervise the lower-level managers who supervise the

operational activities of the organizationoperational activities of the organization directly involved with nonmanagement employeesdirectly involved with nonmanagement employees increasingly being called on to be innovative and increasingly being called on to be innovative and

entrepreneurialentrepreneurial titles include supervisor or sales managertitles include supervisor or sales manager

►Working leaders with broad responsibilitiesWorking leaders with broad responsibilities in small firms and large firms that have adapted in small firms and large firms that have adapted

to the times, managers have strategic, tactical, to the times, managers have strategic, tactical, andand operational responsibilities operational responsibilities

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Transformation of Frontline Transformation of Frontline Management Roles and TasksManagement Roles and Tasks

• From operational implementers to aggressive entrepreneurs

• Driving business performance by focusing on productivity, innovation and growth within frontline units

Changing roles

Primary value

Key activities • Creating and pursuing new opportunities for the business

• Attracting and developing resources and competencies

• Managing continuous performance improvement within the unit

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Transformation of Middle-Transformation of Middle-Level Level

Management Roles and TasksManagement Roles and Tasks• From administrative controllers to supportive coaches

• Providing the support and coordination to bring large company advantage to the independent frontline units

• Developing individuals and supporting their activities

• Linking dispersed knowledge, skills, and best practices across units

• Managing the tension between short-term performance and long-term ambition

Changing roles

Primary value

Key activities

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Transformation of Top-Level Transformation of Top-Level Management Roles and TasksManagement Roles and Tasks

• From resource allocators to institutional leaders

• Creating and embedding a sense of direction, commitment and challenge to people throughout the organization

• Challenging embedded assumptions while establishing a stretching opportunity horizon and and performance standards

• Institutionalizing a set of norms and values to support cooperation and trust

• Creating an overarching corporate purpose and ambition

Changing roles

Primary value

Key activities

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You And Your CareerYou And Your Career

► Jobs are no longer as secure for managers as Jobs are no longer as secure for managers as they used to bethey used to be organizations still try to develop and retain good organizations still try to develop and retain good

employeesemployees employee loyalty and commitment are still employee loyalty and commitment are still

importantimportant

►Companies offering “employability” to workers Companies offering “employability” to workers tend to be more successfultend to be more successful provide training and other learning experiencesprovide training and other learning experiences employees perform work with greater responsibilityemployees perform work with greater responsibility

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►Be both a specialist and generalistBe both a specialist and generalist specialistspecialist - expert in something - expert in something

►provide concrete, identifiable value to the firmprovide concrete, identifiable value to the firm

generalistgeneralist - knowing about a variety of business - knowing about a variety of business functions so that you can understand work with functions so that you can understand work with different perspectivesdifferent perspectives

►Be self-reliantBe self-reliant take responsibility for yourself, your actions, and take responsibility for yourself, your actions, and

your career regardless of where you workyour career regardless of where you work think and act like an entrepreneurthink and act like an entrepreneur

►look for opportunities to contribute in new wayslook for opportunities to contribute in new ways►generate constructive changegenerate constructive change

You And Your Career (cont.)You And Your Career (cont.)

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You And Your Career (cont.)You And Your Career (cont.)

►Be connectedBe connected establish many good working relationshipsestablish many good working relationships be a team player with strong be a team player with strong

interpersonal skillsinterpersonal skills all business is a function of human all business is a function of human

relationshipsrelationships►competitive advantage depends upon you and competitive advantage depends upon you and

other peopleother people

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Keys to Career ManagementKeys to Career Management

1. Think of yourself as a business.2. Define your product: What is your area of expertise?3. Know your target market: To whom are you going to sell this?4. Be clear on why your customer buys from you. What is your “value proposition” - what are you offering that causes him to use you?5. As in any business, strive for quality and customer satisfaction, even if your customer is just someone else in your organization - like your boss.6. Know your profession or field and what’s going on there.7. Invest in your own growth and development, the way a company invests in research and development. What new products will you be able to provide?8. Be willing to consider changing your career.

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►Actively manage your relationship with your Actively manage your relationship with your organizationorganization two ways to think about the nature of the two ways to think about the nature of the

relationships between you and your employerrelationships between you and your employer►view yourself as an employeeview yourself as an employee

model for just getting bymodel for just getting by contributions likely to be minimalcontributions likely to be minimal

►two-way, mutually-beneficial exchange relationshiptwo-way, mutually-beneficial exchange relationship think about how you can contribute and act accordinglythink about how you can contribute and act accordingly

► figure out new ways to add valuefigure out new ways to add value organization likely provide full and fair rewards, support further organization likely provide full and fair rewards, support further

personal development, and offer more gratifying work personal development, and offer more gratifying work environmentenvironment

You And Your Career (cont.)You And Your Career (cont.)

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Two Relationships: Which Will Two Relationships: Which Will You Choose?You Choose?

#2You as an active contributorin a productive relationship

YouYour

Organization

#1You as a passive employee

Employer

You

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►Survive and thriveSurvive and thrive be prepared to move from project to project, team to be prepared to move from project to project, team to

teamteam be a master at something that the world valuesbe a master at something that the world values develop a strong network of colleagues who can help develop a strong network of colleagues who can help

with current and future projectswith current and future projects have entrepreneurial skills that help you act as if you have entrepreneurial skills that help you act as if you

were running your own businesswere running your own business love technologylove technology market yourselfmarket yourself be willing to constantly improve and even reinvent be willing to constantly improve and even reinvent

yourselfyourself

You And Your Career (cont.)You And Your Career (cont.)