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Chap1 - Intro To Entrep. Leadership

The document discusses management and entrepreneurship. It covers topics such as the importance of managers, the functions and roles of managers, necessary management skills, and the importance of customers and innovation. Key management functions include planning, organizing, leading, and controlling. Important skills include conceptual, communication, and technical skills.

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H. V.
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12 views33 pages

Chap1 - Intro To Entrep. Leadership

The document discusses management and entrepreneurship. It covers topics such as the importance of managers, the functions and roles of managers, necessary management skills, and the importance of customers and innovation. Key management functions include planning, organizing, leading, and controlling. Important skills include conceptual, communication, and technical skills.

Uploaded by

H. V.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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ENTREPRENEURIAL

LEADERSHIP
Chapter 1: Management and Entrepreneurship
Learning Objectives
• Why study Management?

• What does it take to be a successful manager?

• Discuss the basic responsibilities of a manager in terms of key


resources.

• What are the key Management Skills?

• What are the 4 key Management Functions?

• Discuss Mintzberg's management roles.

• What are the various levels of Management?

• What are the various contexts in which Management is applied?


Management and Entrepreneurship
• Why Study Management?
• Fredrick Winslow Taylor
– The “father” of scientific management
• The theory of scientific management
– Using scientific methods to define the “one
best way” for a job to be done:
• Putting the right person on the job with the
correct tools and equipment
• Having a standardized method of doing the job
• Providing an economic incentive to the worker
Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
General Administrative Theory
• Max Weber
– Developed a theory of authority based on an
ideal type of organization (bureaucracy)
• Emphasized rationality, predictability, impersonality,
technical competence, and authoritarianism
• Henri Fayol
– Believed that the practice of management was
distinct from other organizational functions
– Developed principles of management that
applied to all organizational situations

Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall


Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Why are Managers Important?
• Organizations need their managerial skills
and abilities more than ever in these
uncertain, complex, and chaotic times.
• Managerial skills and abilities are critical in
getting things done.
• The quality of the employee/supervisor
relationship is the most important variable
in productivity and loyalty.
Who Are Managers?
• Manager
– Someone who
coordinates and
oversees the work of
other people so that
organizational goals
can be accomplished.
Classifying Managers
• First-line Managers - Individuals who
manage the work of non-managerial
employees.
• Middle Managers - Individuals who
manage the work of first-line managers.
• Top Managers - Individuals who are
responsible for making organization-wide
decisions and establishing plans and
goals that affect the entire organization.
Exhibit 1-1: Levels of Management
Differences Among Managers
• The Three Levels of Management
– Top managers
• CEO, president, or vice president
– Middle managers
• Sales manager, branch manager, or department
head
– First-line managers
• Crew leader, supervisor, head nurse, or office
manager
– Nonmanagement operative employees
• Workers in the organization who are supervised
by first-line managers
●Management Levels and Functional Areas
Skills/Functions performed at the
different Management levels
Where Do Managers Work?
• Organization - A deliberate arrangement
of people assembled to accomplish some
specific purpose (that individuals
independently could not accomplish
alone).
• Common Characteristics of Organizations
– Have a distinct purpose (goal)
– Are composed of people
– Have a deliberate structure
Exhibit 1-2: Characteristics of
Organizations
What Do Managers Do?
• Management involves coordinating and
overseeing the work activities of others so
that their activities are completed
efficiently and effectively.
Effectiveness and Efficiency
• Efficiency • Effectiveness
– “Doing things right” – “Doing the right things”
– Getting the most – Attaining
output for the least organizational goals
inputs
Efficiency & Effectiveness
Efficiency means doing the task correctly and
refers to the relationship between inputs and
outputs. Management is concerned with
minimizing resource costs.

Effectiveness means doing the right things. In an


organization, that translates into goal attainment.
Efficiency &
Effectiveness
“doing
“doing Means Ends the
things right
right” Efficiency Effectiveness
thing”

Resource Low Goals High


usage waste attainment Goal
attainment
Efficiency & Effectiveness
being efficient… Being effective…
Focuses on doing one’s work on the correct Focuses on desired results
manner
Seeks to avoid failure Seeks success

Means or resource to do a task is important End of task is most important

Concerned with keeping the status quo Attempts to find new ways to perform the
task better
Reacts to changes Anticipates changes

Comfortable with keeping things as they are Motivated towards growth

Prone to keeping record of what is going on Constantly giving critical evaluation of a task

How to save money, time & effort How well the job gets done

QUANTITY QUALITY

A measure of correctness of a product / A measure of completeness of a product /


service service
Exhibit 1-3: Efficiency and Effectiveness
in Management
Management Functions
• Planning - Defining goals, establishing
strategies to achieve goals, and developing
plans to integrate and coordinate activities.
• Organizing - Arranging and structuring work to
accomplish organizational goals.
• Leading - Working with and through people to
accomplish goals.
• Controlling - Monitoring, comparing, and
correcting work.
Exhibit 1-4: Four Functions of
Management
Management Roles
• Roles are specific actions or behaviors
expected of a manager.
• Henry Mintzberg identified 10 roles
grouped around interpersonal
relationships, the transfer of information,
and decision making.
Management Roles
Describe the Manager’s
LO 2
Functions, Roles And Skills

Insert Exhibit 1.1

Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall 1-26


Skills Managers Need
• Technical skills
– Knowledge and proficiency in a specific field
• Human skills
– The ability to work well with other people
• Conceptual skills
– The ability to think and conceptualize about
abstract and complex situations concerning
the organization
Exhibit 1-6: Skills Needed at Different
Managerial Levels
●Management Skills
• Conceptual skills
• Diagnostic, analytical,
and critical-thinking
skills
• Quantitative reasoning
skills
• Time management skills

• Communication skills
• Team skills
• Diversity skills
• Power, political, negotiation,
and networking skills
• Motivation skills
• Conflict management skills • Familiarity and competence in the use of
business skills required for success on the
• Ethics skills
job.
Exhibit 1-7: Important Managerial Skills
Management Skills, Functions, and Roles
The Importance of Customers
• Customers: the reason that organizations
exist
– Managing customer relationships is the
responsibility of all managers and employees.
– Consistent high quality customer service is
essential for survival.
The Importance of Innovation
• Innovation
– Doing things differently, exploring new
territory, and taking risks.
– Managers should encourage employees to be
aware of and act on opportunities for
innovation.

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