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Management
Owner v. Manager
Owner “ran his own business” managed business and people Played a big part in running daily activities Opened and closed shop Had one building Made those deposits to the bank
Management
Manager Not owner Was subservient to owner Managed the daily activities
The Professional Manager
Professional Management Programs Wharton Business School 1881 Harvard Business School 1908 NYU Business School 1918
Three factors around this time leading to professional management status:
Growth of big business Separation of ownership from management Development of a transferable body of management knowledge
Business Management
Finance Manufacturing Purchasing, transportation, and physical distribution Human Resources Management Employee Benefits Technology Administrative Systems
Management - Finance
Role Translates all information into financial, bottom line. Managing money
Responsibilities of the Chief Financial Officer Sets financial and financing policies Provides measurements Plans annual and long range goals Evaluates economic trends May also be chief investment officer – setting investment
policies
Finance Organization Chart
Middle to Large Organization
C o n tro lle r T re a su re r D ire c to r T a xes D ire c to r In te rn a l A u d it D ire c to r M IS
C h ie f F in a n c ia l O ff ice r
C h ie f E xe cu tiv e O ffice r
Manufacturing
Planning a manufacturing organizational structure Develop strategy and goals Assign people to structure
Manpower planning and performance wages labor
Manufacturing processes process design planning manufacturing/production systems
Manufacturing
Materials management Planning of production and materials Evaluation
Materials handling & warehousing basic handling principles equipment and systems for handling planning the warehouse
Quality management•Quality Control•Vendor quality•Customer feedback information
Facilities management•Location•Plant capacity, layout, equipment installation•Automation
Purchasing
Originally, the “purchasing agent” Importance transitioned it to purchasing
manager Inventory control
Just-in-time
Purchasing of capital equipment Great place for cost cutting
Physical Distribution
Gets the finished product to the right place, at the right time, in the right condition, and at the right cost for customer sales
Acts as buffer between production of product and the customers or market for the product by maintaining inventories, transportation, operating the warehousing facilities
Acts in support and in complement with production, marketing, sales
Human Resources Management
Locating, appraising, selecting, and placing employees in a timely and efficient manner
Requires integration of dynamics of organization, awareness of long-term strategic plans of the organization,
Statistical data on separations, promotions, demotions, hires
Use of computer technology critical PeopleSoft, HRNetSource
Human Resources Management
Importance of compliance with government regulations 1960’s the gov’t focused on the workplace as the
arena for for social change Amount of regulations had profoundly affected
the organization and responsibilities of HR.
HR Compliance
Documentation and Records Federal statutes and regulations require
maintenance of records for varying periods of time.
nonexempt employees records kept for 3 yrs
involuntary terminations – 6 months
Occupational Safety and Health Act (OSHA) records kept for 5 yrs – required for work-related deaths, injuries, illnesses
HR Compliance
Fair Labor Standards Act FLSA Civil Rights Act of 1964 – Title VII Employee Retirement Income Security Act ERISA Occupational Safety and Health Act OSHA Affirmative Action Family and Medical Leave Act 1993 FMLA Americans with Disabilities Act 1992 ADA Consolidated Omnibus Budget Reconciliation Act COB
RA
Equal Employment Opportunity Commission EEOC
Human Resources Management
SALARY ADMINISTRATION Employee Compensation
Benefits Bonus, Incentive awards Direct pay - largest portion of compensation costs
Must develop pay structures Market value,job pricing,evaluation structures (points
system) Strategy to determine increases
Merit, inflation, across-the-board,
Human Resources Management
Employee Benefits Def: additional compensation or pay in the form
of vacations, sick leave, social security, pensions… Life insurance, medical insurance, profit sharing,
pension, SS, discounts, sick, vacation, rest periods, relocation expenses, counseling, credit unions…
Human Resources Management
Manage Executive Compensation Base salary, annual incentive awards and bonuses,
long-teem incentives, stock options, special stock, supplemental pension plans,, perquisites [car, office, plane, medical, club memberships, in-town apt,. Sabbatical leaves…
Human Resources Management
Training and Development Different from school training – adult training
needs Learner involvement, tailored learning activities,
informal, manageable units, applied Employee training v. Management training Evaluation of training is important Training cost money!
Human Resources Management
Performance Appraisal Employee Relations- quality of work,
employee health Labor Relations Safety Security
Key Resources for HR
Databases CCH Health and Human Resources Management BNA Human Resources Library ABI-Inform LexisNexis Academic Business Source Elite Best Practices Database Dissertation Abstracts Online Wall Street Journal
Key Resources for HR
Magazines and Journals HR Focus HRMagazine Human Resource Development Quarterly Human Resource Management Monthly Labor Review Personnel Psychology Research in Personnel and Human Resources
Management Training Workforce
Key Resources for HR
Associations
Society for Human Resources Management
American Society for Training & Development
Key Resources for HR
Books Handbook of Labor Statistics American Salaries and Wage Survey Human Resources Yearbook The ASTD Training and Development Yearbook Deskbook Encyclopedia of Employment Law The Executive Handbook on Compensation: linking
strategic rewards to business performance The Performance Management Pocketbook