14 14-1 14-2 14-3 14-4 14-5 14-6 Management, Motivation, and Leadership: Bringing Business to Life Discuss the role of management and its importance to organizational success Explain key theories and current practices of motivation Outline the categories of business planning and explain strategic planning Discuss the organizing function of management Explain the role of managerial leadership and the key leadership styles Describe the management control process 2
Management: Responsibilities and Skills Involved Planning Figuring out where to go and how to get there Organizing Determining a structure for both individuals and the organization Leading Directing and motivating people to achieve organizational goals Controlling Monitoring performance and making adjustments as needed 3
Management: Responsibilities and Skills Involved Top management: Sets the overall direction of the firm Middle management: Manages the managers First-line management: Manages the people who do the work 4
Management: Responsibilities and Skills Involved Technical skills Expertise in a specific functional area or department Human skills Ability to work with and through other people in a range of different relationships Conceptual skills Ability to grasp a big-picture view of the overall organization and the relationship between its various parts 5
Exhibit 14.1 - Maslow s Hierarchy of Needs and the Workplace 6
Exhibit 14.2 - Theory X and Theory Y 7
Motivation: How does it work? Skill variety Workers can use a range of different skills Task identity Workers complete tasks with clear beginnings and endings Task significance Workers understand the impact of the task on others Autonomy Workers have freedom and authority regarding their jobs Feedback Workers receive clear, frequent information about their performance 8
Motivation: How does it work? Expectancy theory: Relationship among individual effort, individual performance, and individual reward Equity theory: Perceptions of fairness directly affect worker motivation 9
Planning: An Overview Strategic planning Vision for the company, define long-term objectives and priorities, determine broad action steps, and allocate resources Tactical planning Applying the strategic plan to specific areas of responsibility Operational planning Applying the tactical plans to daily, weekly, and monthly operations Contingency planning For unexpected events 10
Exhibit 14.3 - Managerial Planning 11
Strategic Planning Steps Defining the mission of the organization Mission: Organization s purpose, values, and core goals providing the framework for all other plans Evaluating the competitive position SWOT analysis: Evaluates where the organization stands relative to competition Strengths, weaknesses, opportunities, and threats 12
Strategic Planning Steps Setting goals Strategic goals: Represent concrete benchmarks that managers can use to measure performance in key areas Creating strategies Strategies: Plans that help the organization achieve goals by fitting the firm and the environment 13
Strategic Planning Steps Implementing strategies Should happen through tactical planning Evaluating results and incorporating lessons learned Continual process Should happen at all levels 14
Organizing: Creating Logical Structure in a Firm Organization chart: Helps employees understand how they and their jobs fit within the broader organization Degree of centralization: Relates directly to the source of power and control Span of control: Number of people a manager supervises 15
Organizing: Creating Logical Structure in a Firm Departmentalization: Breaking workers into logical groups Functional Product Customer Geographical Process 16
Organization Models Line organization Clear, simple chain of command from top to bottom Line-and-staff organization Benefits of a line organization without all the drawbacks Line managers: Supervise the functions that contribute directly to profitability Staff managers: Supervise the functions that provide advice and assistance to the line departments Matrix organizations Build on the line-and-staff approach by adding a lot more flexibility Encourages team work Flexible and innovative 17
Leadership: Being Direct and Bureaucratic Autocratic leaders Hoard decision-making powers and issue orders without consulting their followers Democratic leaders Share power with followers but make final decisions 18
Leadership: Being Direct and Bureaucratic Free-rein leaders Set objectives for their followers but give them freedom to choose how they accomplish those goals 19
Reality TV Video Slide www.cengage.com/introbusiness/book_content/9781285187822_kelly/video s/14wemeanbusiness.html 20
How do The Sensitive Baker s three operational issues relate to the managerial functions of planning, organizing, leading, and controlling organizational resources? The text states that standout managers motivate others to reach for their best selves. Does the fact that Bill Rancic believes that some of The Sensitive Baker s employees are slackers and have an attitude problem indicate that Sandee is a poor manager? How do the broad leader activities of directing and inspiring relate to the three operational issues identified by Bill Rancic? istockphoto.com / DNY59 21
Controlling Monitoring performance of the firm and making improvements when necessary Control process Establishes clear performance standards Specific and measurable Realistic but challenging Tied to a time frame 22
Controlling Measures actual performance against standards Should happen before the end of the time frame attached to the goal Takes corrective action if necessary 23
14-1 14-2 14-3 14-4 14-5 14-6 Discuss the role of management and its importance to organizational success Explain key theories and current practices of motivation Outline the categories of business planning and explain strategic planning Discuss the organizing function of management Explain the role of managerial leadership and the key leadership styles Describe the management control process 24