Copyright © 2015 by the McGraw-Hill Companies, Inc. All rights reserved.
1. Describe the changes occurring today in the
2. Describe the four functions of management.
3. Relate the planning process and decision making to
the accomplishment of company goals.
4. Describe the organizing function of management.
5. Explain the differences between leaders and
managers, and describe the various leadership
6. Summarize the five steps of the control function of
• Displayed her leadership skills
as a child and took that with her
• She joined Facebook in 2008
and made the company
profitable in two years.
• Now shares her knowledge in
her book, Lean In.
NAME that COMPANY
This company knows that finding the right people
and keeping them happy is the key to longterm
business success. So it has its own gourmet
chefs prepare delicious lunches, dinners and
snacks for its employees.
Name that company!
WHAT IS MANAGEMENT?
• Management The process used to accomplish
organizational goals through planning, organizing,
leading and controlling people and other
• Younger and more
- Growing numbers of women.
- Fewer from elite universities.
• Emphasis is on teams and
• Managers need to be skilled
communicators and team
RESPECT and HOW to GET IT
Source: Entrepreneur, www.entrepreneur.com, accessed November 2014.
Alma Maters of CEOs
Source: Best Colleges, www.bestcolleges.com, accessed November 2014.
FOUR FUNCTIONS of
• What are some of the changes happening in
• What’s the definition of management used in this
• What are the four functions of management?
SHARING the VISION
• Vision More than a goal,
it’s a broad explanation of
why the organization exists
and where it’s trying to go.
DEFINING THE MISSION
• Mission Statement Outlines the organization’s
fundamental purposes. It includes:
- the organization’s self–concept
- its philosophy
- long–term survival needs
- customer needs
- social responsibility
- nature of the product or service
GOALS and OBJECTIVES
• Goals The broad, longterm
organization wishes to attain.
• Objectives Specific, short
term statements detailing how to
achieve the organization’s
• What is the situation now?
SWOT Analysis Analyzes the organization’s
Strengths, Weaknesses, Opportunities and Threats.
• How can we get to our goal from here?
- Strategic planning
- Tactical planning
- Operational planning
- Contingency planning
STRATEGIC and TACTICAL
• Strategic Planning Done by top management
and determines the major goals of the organization
and the policies, procedures, strategies and resources
it will need to achieve them.
• Tactical Planning The process of developing
detailed, shortterm statements about what is to be
done, who is to do it and how.
OPERATIONAL and CONTINGENCY
• Operational Planning The process of setting
work standards and schedules necessary to
implement the company’s tactical objectives.
process of preparing
alternative courses of
action the firm can use if
its primary plans don’t
• Decision Making Choosing among two or more
WHAT MAKES a GREAT CEO
Decision Making Skills of Top CEOs
• Keep global business issues in mind and be a
citizen of the world.
• Identify and manage risks before they grow.
• Change strategies and models with the times.
• Skillfully manage relationships with governments
as government involvement rises.
Source: Fortune, www.fortune.com, accessed November 2014.
1. Define the situation.
2. Describe and collect needed information.
3. Develop alternatives.
4. Decide which alternative is best.
5. Do what is indicated.
6. Determine whether the decision was a good one
and follow up.
• Problem Solving The process of solving the
everyday problems that occur; less formal than
decision making and needs quicker action.
• Problemsolving techniques include brainstorming
and PMI Listing all the pluses for a solution in one
column, all the minuses in another and the
implications in a third.
• What is the difference between goals and
• What does a company analyze when it does a
• What are the differences between strategic,
tactical and operational planning?
• What are the six Ds in decision making?
LEVELS of MANAGEMENT