Introduction to Management

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Introduction to Management

• Chapter 1

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Topics
What is management? What do managers do? What
challenges do managers at different levels face?
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Think about managers you have had. What positive
things did they do? What negative things did
they do?
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Management is
1
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Management Functions

• Planning
• Setting goals and deciding on courses of action
  to take
• Controlling
• Evaluating how well goals are met and taking
  actions to correct deficiencies
• Organizing
• Establishing a structure of working relationships
  that coordinates individuals and groups in
  efforts to achieve goals
• Leading
• Envisioning, energizing, and enabling people to
  work together to achieve goals

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Levels of Management
Board of Directors
Top Level Management
Middle Level Management
First-Line Management
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Board of Directors

• Elected to represent shareholders/owners of the
  firm
• Provide guidance to top managers in managing the
  firm
• Hires/fires CEO
• Usually consists of different committees that
  handle different functions compensation,
  auditing, selection, etc.

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Top Managers
3.1
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Middle Managers
3.2
10
First-Line Managers
3.3
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Team Leaders
3.4
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Managerial Roles
4
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What Challenges Do Managers Face?

• Developing the appropriate skills and attitudes
  for managerial work
• Avoiding typical managerial mistakes
• Making the transition from individual contributor
  to manager

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What Companies Look for in Managers
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Theory X and Y

• Managerial beliefs or philosophies with regard to
  how to manage others
• Includes assumptions about human behavior as well
  as what makes a business successful
• Our beliefs have consequences on how we manage
  others and the expectations they have of us

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Theory X

• Management's only responsibility is to improve
  the company's "bottom line."
• The employees of an organization are tools to be
  used to meet this goal.
• People are basically unwilling to work in the
  best interests of the company, cannot handle
  responsibility, and must be tightly controlled,
  prodded, and punished to get their work done.

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Theory Y

• Management should create conditions that enable
  and encourage employees to attain their own goals
  by working toward the goals of the organization.
• Employees are inherently ready to accept
  responsibility, do a good job, and work in the
  best interests of the company.
• It is management's responsibility to create the
  conditions that will allow employees to develop
  their fullest potential.

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Mistakes Managers Make
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The First Year Management Transition
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