Learning Objectives
LO 1 Summarize the major challenges of managing in the new competitive landscape.
LO 2 Describe the sources of competitive advantage for a company.
LO 3 Explain how the functions of management are evolving in today’s business environment.
LO 4 Compare how the nature of management varies at different organizational levels.
LO 5 Define the skills you need to be an effective manager.
LO 6 Discuss the principles that will help you manage your career.
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Managing and PerformingChapter OneMcGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.Learning ObjectivesLO 1 Summarize the major challenges of managing in the new competitive landscape.LO 2 Describe the sources of competitive advantage for a company.LO 3 Explain how the functions of management are evolving in today’s business environment.LO 4 Compare how the nature of management varies at different organizational levels.LO 5 Define the skills you need to be an effective manager.LO 6 Discuss the principles that will help you manage your career.1-*GlobalizationToday’s enterprises are global, with offices and production facilities in countries all over the worldMeans that a company’s talent can come from anywhere Internet makes globalization inevitable1-*Knowledge ManagementKnowledge managementPractices aimed at discovering and harnessing an organization’s intellectual resources1-*The Functions of ManagementManagementThe process of working with people and resources to accomplish organizational goalsEfficiently, effectively1-*The Functions of ManagementPlanningSystematically making decisions about the goals and activities that an individual, a group, a work unit, or the overall organization will pursueanalyzing current situations, anticipating the future, determining objectives, deciding in what types of activities the company will engage1-*The Functions of ManagementOrganizing assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goalsspecifying job responsibilities, grouping jobs into work units, marshaling and allocating resources,1-*The Functions of ManagementLeading stimulating people to be high performersControllingmonitoring performance and making needed changes.1-*Performing All Four Management FunctionsGood managers devote adequate attention and resources to all four management functions.1-*Management Levels and SkillsTop-level managersSenior executives responsible for the overall management and effectiveness of the organization.Middle-level managersManagers located in the middle layers of the organizational hierarchy, reporting to top-level executives.1-*Management Levels and SkillsFrontline managersLower-level managers who supervise the operational activities of the organization1-*Transformation of Management Roles and Activities1-*Table 1.1Management SkillsTechnical skillThe ability to perform a specialized task involving a particular method or process1-*Management SkillsConceptual and decision skillsSkills pertaining to the ability to identify and resolve problems for the benefit of the organization and its members.1-*Managerial Action Is YourOpportunity to Contribute1-*Figure 1.2