n Chapter 11 Management Skills

1. Marketing Essentials nChapter 11 Management Skills Section 11.2 Management Functions

2. SECTION 11.2 Management Functions What You'll Learn • The three functions of management • The management techniques used by effective managers • How to motivate employees through a system of rewards

3. SECTION 11.2 Management Functions Why It's Important The concept of management is changing. It is allowing more employees to fulfill management functions, whatever their job titles. Understanding the functions of management will help you to excel in any career you choose.

4. SECTION 11.2 Management Functions Key Terms • planning • organizing • controlling • mission statement

5. SECTION 11.2 Management Functions What Managers Do • All managers perform certain basic functions: • planning • organizing • controlling

6. SECTION 11.2 Management Functions Investigate All Options • All management functions involve making decisions. In order to reach wise decisions on complex questions, it’s important to consider all the options. A process like this can help assure that decision-makers not leave out important considerations. What could happen if the problem is not well defined at first? How will these steps help you make decisions in your own life?

7. SECTION 11.2 Management Functions Planning • Planning involves deciding what will be done and how it will be accomplished. • Good management planning is realistic, comprehensive, and flexible. It includes plans for the short- and long-range uses of people, technology, and material resources.

8. SECTION 11.2 Management Functions Organizing • Organizing is a coordinated effort to reach a company's planning goals. It involves: • assigning responsibility • establishing working relationships • staffing • directing the work of employees

9. SECTION 11.2 Management Functions Vertical or Horizontal President Vice President Human Resources Department Vice President Research and Development Department Vice President Accounting and Finance Department Vice President Information Systems Vice President Manufacturing Department Vice President Marketing Department Manager Product Planning Manager Marketing Research Manager Advertising and Promotion Manager Sales Sales Regions and Representatives This chart shows a company organized along traditional vertical lines. How would the chart differ if the company were organized horizontally?

10. SECTION 11.2 Management Functions Controlling Controlling is the process of comparing what you planned with actual performance. It involves three basic activities: • Setting standards. • Evaluating performance according to those standards. • Solving any problems revealed by the evaluation.

11. SECTION 11.2 Management Functions Mission Statement M I S S I O N S T A T E M E N T F ederal Express is committed to our PEOPLE-SERVICE-PROFIT PHILOSOPHY. We will produce outstanding financial returns by providing totally reliable, competitively superior global air-ground transportation of high-priority goods and documents that require rapid, time-certain delivery. Equally important, positive control of each package will be maintained utilizing real-time electronic tracking andtracing systems. A complete record of each shipment and delivery will be presented without request for payment. We will be helpful, Courteous, and professional to each other and the public. We will Strive to have a satisfied customer at the end of each transaction. David Bronczek Chairman and CEO A mission statement is designed to outline the goals and values of a company. Do you think a mission statement helps inspire employees to do their best work for a company?

12. SECTION 11.2 Management Functions Effective Management Techniques The most effective management techniques are usually a matter of common sense: • Give clear directions. • Train new employees well. • Be consistent. • Treat employees fairly. • Be firm when necessary. • Set a good example. • Delegate responsibility. • Foster teamwork.

13. SECTION 11.2 Management Functions Employee Motivation The more people feel appreciated, the harder they will work. Managers should: • Provide frequent feedback and yearly evaluations. • Identify goals and reward employees who contribute to those goals. • Reward smart work, not busy work. • Suggest ways to improve job performance. • Encourage creativity. • Reward employee loyalty by investing in continuing education for employees and promoting from within.

14. SECTION 11.2 Management Functions Leadership in the 21st Century • The business world is expected to experience many changes in the 21st century, including: • Product life cycles will be shorter. • There will be fewer projects led by one executive. • Marketing and sales will continue to be the fast track to top management. International experience will become increasingly important for advancement. • New technology and customer satisfaction will become greater priorities. • New leaders will be more culturally diverse.

15. ASSESSMENT 11.2 Reviewing Key Terms and Concepts 1. What are the basic functions of management? 2. What is the value of employee orientation? 3. What does it mean to delegate responsibility? 4. What are two ways to reward employee loyalty?

16. ASSESSMENT 11.2 Thinking Critically • How could a manager's openness to suggestions from employees influence employee loyalty to a company?

17. 11.2 Graphic Organizer Management Functions PLANNING GOALS ORGANIZING CONTROLLING LEADING

18. Marketing Essentials End of Section 11.2