Chapter 1: Management
Jeffrey Pfeffer sound management practices can produce substantial advantages :
Companies that invest in their people will create long lasting competitive advantages. 4 critical areas of organizational performance 1. sales revenue 2. profits 3 stock market returns 4. customer satisfaction
four functions of management: Controlling
Controlling involves monitoring progress toward goal achievement and taking corrective action when needed. The basic control process involves: setting standards to achieve goals, comparing actual performance to those standards, and then making changes to improve performances to set standards.
Organizing
Deciding where decisions will be made, who will do what jobs, and tasks, and who will work for whom
Planning
Determining organizational goals and a means for achieving them
Leading
Inspiring and motivation workers to work hard and to achieve organizational goals
four functions of management: leading
Leading involves inspiring and motivating employees to work hard to achieve organizational goals.
Middle Manager
Managers responsible for setting objectives consistent with top managements goals and for planning and implementing subunit strategies for achieving these objectives
Controlling
Monitoring progress toward achievement and taking corrective action when needed
SMART goals
Specific, Measurable, Attainable, Realistic, Timely
Technical Skills
The specialized procedures, techniques and knowledge required to get the job done
what do they look for in technical skills?
The specialized procedures, techniques and knowledge required to get the job done. -Technical kills are most important for team leaders and lower level managers because they supervise the workers who produce products or serve customers. -Team leaders and first-line managers need technical knowledge and skills to train new employees and help employees solve problems and to troubleshoot problems that employees can't handle.
what do they look for in conceptual skills?
This includes the ability to see: -the organization as a whole -understand how the different part of the company affect one another - to recognize how the company fits into or is affected by elements of its external environment such as the local community, social and economical forces, customers and the competition. -recognize, understand and reconcile multiple complex problems and perspectives -Intelligence makes so much difference to managerial performance that managers with above-average intelligence typically out perform managers of average intelligence by approx 48%.
1.3 Describe the different kinds of managers: Top manager
all have the core functions of planning, organizing, leading and controlling. Top Managers: Types: Chief executive officer (CEO), Chief information officer (CIO), Chief operating officer (COO), Chief financial officer (CFO), Vice president, corporate heads Responsibilities: Create context for change; 1 form long-range vision or mission for the co. 2 Develop employees commitment to and ownership of the company's performance, employee buy-in 3 Create a positive organizational culture through language and action 4 Monitoring their business environments. They must closely monitor customers needs, competitors moves, and long term business economic and social trends.
entrepreneur role
decisional role; adapt themselves, their subordinates, and their units to change
resource allocator role
decisional role; decide who gets what resources and in what amounts
negotiator role
decisional role; negotiate schedules, projects, goals, outcomes, resources, and employee raises
disturbance handler role
decisional role; respond to severe pressures and problems that demand immediate action
Interpersonal Roles
figurehead, leader, liaison
what do they look for in motivation to manage?
how motivated employees are to interact with superiors -participate in competitive situations -assertive -give direction -reward/correct behavior
liaison role
interpersonal role; deal with people outside their units
What are the competitive advantage through people? by. Jeffrey Pfeffer
manager in top performing co used ideas such as: 1. Employment security 2. Selective hiring 3. Self managed teams and decentralization 4. High wages contingent on organizational performance 5. Training and skill development 6. Reduction of status differences 7. Sharing information- of financial info All of these resulted in 40% higher than that of other co.
First-Line Managers
managers who train and supervise the performance of non managerial employees who are directly responsible for producing the company's products or services
Team Leaders
mangers responsible for facilitating team activities toward accomplishing a goal
Figurehead
The interpersonal role managers play when they perform ceremonial duties
Covey's 7 habits of highly effective people
1. Be proactive - ability to choose a response and choice. things we can control. 2. Begin with the end in mind - making plans 3. Put first things first - self discipline for what is most important. 4. Think win-win 5. Seek first to understand, then to be understood 6. Synergize 7. Sharpen the saw
Effectiveness
Accomplishing tasks that help fulfill organizational objectives such as customer service and satisfaction
Management
Getting work done through others
Efficiency
Getting work done with minimal effort, expense, or waste
Top ten mistakes manager make: List:
1. insensitive, abrasive, intimidating, bulling style 2. cold. aloof, arrogant 3. betrays trust- not doing what you said you would do. 4. overly ambitious: thinking of next job, play politics. 5. specific performance problems with the business 6. Overmanaging: unable to delegate or build a team, can't stop doing, can't do much well. 7. Unable to staff effectively 8. Unable to think strategically 9. Unable to adapt to boss with different style 10. Overdependent on advocate or mentor
What are the management techniques to improve return on investment of people?
1. setting performance expectations 2. coaching 3. reviewing employee performance 4. rewarding employee performance Average increase in co. performance: 20% - a key difference was how well they treated their employees -when employees are satisfied with their jobs, their bosses, and the co. they provide better service to customers.
Strategies to Prevent Leadership Derailment:
1: Executive Coaching: Equipping managers with the tools, knowledge and opportunities they need to develop themselves and become more effective will help them better cope with the challenges that they are likely to confront them in their higher job positions. Coaching provides opportunities for employees with high potential to learn valuable lessons that will help them deliver long term results in the organization. Effective executive coaching that critically considered a leaders strength and weaknesses can contribute to specific development plans fo the leader and this can help prevent derailment 2: Leadership Training: This helps foster the development of needed skills and behaviour that help the leader perform and prevent derailment. Providing varied leadership challenges and developing assignments can give managers learning opportunities for skills improvement. 3: Self-Awareness: This is the first component of the needed changes that can help prevent a leader from derailing. Self-awareness helps a leader understand aspects of their personality which could lead to derailment, and to proactively manage these as an important way of ensuring stable high performances and career progression. 4: Creating Effective Management Processes and Feedback: Organizations must develop effective management tools to identify early signals of derailment and address these during recruitment and selection processes. Strong management processes should be applied to promote only competent managers to higher job responsibilities, and not to promote people beyond their levels of competence. Providing feedback for leaders on their performance is very necessary, as good leaders seek out trusted, honest observers through their career to monitor how they are performing. Having intense, honest and systematic assessment of performance can prevent leadership derailment. This is vital key to any leadership development effort.
1.4 Explain the 3 major roles and subroles that managers preform in their job
3 major roles: Interpersonal, informational, decisional
Top Manager
Executives responsible for the overall direction of the organization
Kind of manager: first line manager
First-line Managers: Types: Officer manager, Shift Supervisor, Department Manager Responsibilities: -The primary responsibility of a first-line manager is to manage the performance of the entry-level employees who are directly responsible for producing a company's goods and services. -monitoring, teaching and short term planning (2 weeks). non managerial worker supervision, teaching and training, scheduling, operating plans, facilitation
1.2 Explain the four functions of management: planning
Henri Fayol's Classic management functions: Planning involves determining organizational goals & how to achieve them. -one of the best ways to improve performance - engage in behaviors directly related to accomplishing goals -improve processes -Companies that plan have larger profits and faster growth than companies that don't plan.
what do they look for in human skills?
Human skills can be summarized as the ability to work well with others. Managers with people skills work effectively within groups, encourage others to express their thoughts and feelings, are sensitive to others needs and viewpoints and are good listeners and communicators. -Human skills are equally important at all levels of management - supervisors to CEOs. time with people: 78% top managers 63% middle 57% first line
1.6 The top mistakes that managers make
Key Characteristics of Leaders who Derail: 1: Difficulty in changing or adapting - they are resistant to change and have trouble learning from mistakes and developing 2: Problems with interpersonal relationship - they find it hard to develop good working relations with others 3: Failure to build and lead a team - they experience difficulties in selecting and building a team 4: Failure to meet business objectives - they are challenged in following up on promises and completing jobs 5: Too narrow a functional orientation - they lack depth to manage outside their current function
1.1 Describe Management
Management is getting work done through others to accomplish tasks that help fulfill organizational objectives as efficiently as possible. This is done by planning, leading, organizing and controlling. There are four types of managers: Top managers, middle managers, first line managers and team leaders. All of which must plan, lead, organize and control however, each management position requires a unique combination of these four functions. Good management is divided by 3 roles: Interpersonal roles - any time a manager engages with any other individuals. Informational roles - about giving and receiving information. Decisional roles - comprise several sub roles (enterpernuer role, disturbance handler role, resource allocator role, negotiating role). A good manager needs good human skills, computer skills, and technical skills. A manager needs to know how to get the job done while adapting to ongoing change in general and specific environment
Kind of manager: Middle manager
Middle Managers: Types: General Manager, Plant Manager, Regional Manager, Divisional Manager -implementor - figures out how to do what. Responsibilities: They are responsible for setting objectives consistent with top managements goals and for planning and strategy implementing subunit performances strategies for achieving objectives. 1: Tactical Plan, and allocate resources to meet objective. 2: coordinate and link groups, departments and divisions within a company. 3: Monitor and manage the performance of subunits and of individual managers. 4 Must also implementing the changes or strategies generated by top managers
four functions of management: organizing
Organizing is deciding where decisions will be made -who will do what jobs and tasks, and who will work for whom in the company. -determine how get things done. ie scheduling for high traffic times.
1.7 Describe the transition that employees go through when they are promoted to management
Studies show that most derailment occurs following a management transition to a position with greater responsibility and greater scrutiny Initially: "be the boss", telling others what to do, making decisions, and getting things done. After 6 months: There is a fast pace and heavy workload involved. it is much harder than you think. The average first-line manager spends no more than two minutes on a task before being interrupted by a request from a subordinate, a phone call, or email. -top managers - they spend an average of 9 minutes on a task before having to switch to another. -Expectations from their subordinates. wanted managers help for problem solving which encourages them to be problem solvers and trouble shooters. Heavy work load. After 1 year: they realized that people management was the most important part of their job. people development. communication, listening, and positive reinforcement
1.5 Explain what companies look for in managers
Technical, human, conceptual, motivation skills
Conceptual Skills
The ability to see the organization as a whole, understand how the different parts affect one another, and recognize how the company fits into
Human Skills
The ability to work well with others
Entrepreneur Role
The decisional role manager play when they adapt themselves, their subordinates, and their units to change
Negotiator Role
The decisional role manager play when they negotiate schedules, projects, goals, outcomes, resources, and employee raises
Resource Allocator Role
The decisional role managers play when they decide who gets what resources and in what amounts
Disturbance Handler Role
The decisional role managers play when they respond to severe pressures and problems that demand immediate action
Monitor Role
The informational role managers play when they scan their environment
Disseminator Role
The informational role managers play when they share information with others in their departments or companies
Spokesperson Role
The informational role managers play when they share information with people outside their departments or companies
Liaison Role
The interpersonal role managers play when they deal with people outside their unit
Leader Role
The interpersonal role managers play when they motivate and encourage workers to accomplish organizational objectives
Kind of manager: Team leader
Types: Team leader, team contract, group facilitator Responsibilities: This format management developed as companies shifted to self-managed teams or no formal supervisor. Fostering good relationships within his/her team. -facilitating team activities towards accomplishing goals, the team is responsible for the team performance not the team leader. -leader brings intellectual, emotional, and spiritual resources to the team. -external relationships, internal relationships
monitor role
informational role; scan their environment for information. Contact others for information, receive unsolicited information from contacts. read papers, track customers and competitors, technology changes
disseminator role
informational role; share information with others in their departments or companies. -Share information they have collected with their subordinates and other in the company.
spokesperson role
informational role; share information with people outside their departments or companies -speak at meetings/conferences or calls -CEO speaks with media
leader role
interpersonal role; motivate and encourage workers to accomplish organizational objectives
Figurehead role
interpersonal role; perform ceremonial duties greeting visitors, speaking at openings, representing the co at luncheon.