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Understand the nature of business
2.02 Understand leadership and management.
Management is the process of accomplishing the goals of an organization through the effective use of people and other resources.
Management
Planning Organizing Staffing Implementing Controlling
5 Functions of Management
The planning function involves… Analyzing information Setting goals Making decisions to accomplish the goals
Planning
The organizing function involves… Identifying the work & resources needed to achieve the goals of the business that have been set in the planning stage.
Organizing
The staffing function includes the activities involved in… Obtaining the employees
Training the employees Compensating the employees
Staffing
The implementing function involves directing and leading people in order to accomplish the goals set out in the planning stage.
Implementing
The controlling function is used to determine whether a business is accomplishing its goals that were set in the planning stage.
Controlling
Top Management Mid-management
Supervisors Management by others
Levels of Management
Executives are top-level managers Responsible for the direction and
the success of the business (controlling)
Set long-term goals (planning) Held accountable for profitability
& success Examples:
CEO (Chief Executive Officer President
Top Management
Mid-managers are specialists Responsible for specific parts of the
business Devoted to the organizing, staffing,
and implementing functions Examples
Marketing Manager Information Technology Manager Customer Service Manager
Mid-Management
First level of management Responsible for the routine work of a
group of employees Evaluate the work of the employees Implement the plans set forth by
executives and mid-managers
Supervisors
Other employees who are not managers, may serve as leaders for a group of employees
Management by others
The management style is the way a manager treats and involves employees Tactical Strategic Mixed
Management Styles
Directive and controlling Manager makes the major
decisions Stays in close contact with
employees while they work Typically, use for
inexperienced employees or during a crisis
Tactical
Less directive with employees Involves team members with
decision making Typically, used with trusted
and/or experienced employees Limited direct supervision
Strategic
Combination of both tactical and strategic
Effective managers can use both styles in order to accommodate different types of employees
Mixed
Leadership is the ability to motivate individuals and groups to accomplish important goals.
What type of traits should a leader possess?
Leadership Styles
Intelligence Judgment Objectivity Initiative Dependability Understanding Cooperation Honesty Courage Confidence Stability
Leadership Traits
Autocratic Leader Democratic Leader Open or Laissez-faire leader
Leadership Styles
Used when a leader needs to give direct, clear, and precise orders and makes decisions
Situations to use style: During an emergency To direct the work of
inexperienced employees
Autocratic Leader
One who includes employees in making decisions
Situations to use style: To monitor quality of work of
employees To direct the work of employees
working as a team
Democratic Leader
One who gives little or no direction to employees
Situation to use style: To monitor achievements and
communicate regularly with employees
To direct the work of experienced and trained employees
Open/Laissez-faire Leader
10 Commandments of a Good Leader Believe in something other than
yourself. Listen to others. Work in a team, never be a loner. Be considerate of a different opinion. Stand for what you believe when
criticized.
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10 Commandments of a Good Leader Be a peacemaker above all. Be patient with other people even if
they do not see your way. Stick to the promises you make. Work hard as a leader. Thank people for what they do for
you even though you may receive no thanks.
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Human resources managers use the management process of managing employees to achieve the objectives of a business.
Human Resources Managers
Planning, staffing, recruiting, & hiring
Managing compensation and benefits
Managing performance of employees
Human Resources Management Activities
Planning & Staffing Classifying employees
Permanent Long term commitment
Temporary Hired for a specific time/job
Full Time 30 or more hours per week (usually 40+
hours) Part Time
Short work week
Planning, Staffing, Recruiting, Hiring
Planning & Job Staffing Determining job requirements:
The use of job analysis to determine all the duties for a particular job
Recruiting and hiring employees The application process
Reviewing applications/resumes Interviewing applicants Checking references of applicants Making a job offer to applicants
Planning, Staffing, Recruiting, Hiring
Recruiting & Hiring New employee orientation
Paperwork Training Mentor
Planning, Staffing, Recruiting, Hiring
Compensation method Time Wage – Direct payment per hour Salary – Direct payment per week, bi-weekly,
or monthly Commission – Percentage of sales Piece Rate – Payment per unit produced Base plus incentive – Direct payment plus
performance based pay Employee benefits
Other items given to employee for working. For example, health insurance, vacation time, sick time, dental insurance, etc.
Managing Compensation & Benefits
Employee evaluation Objective evaluations of employees’ quality of
work Promotion
Advancement of an employee to a position with greater responsibility
Transfer Assignment of the employee to a job in
another area with similar responsibility Termination
Ends employment relationship
Managing performance of employees