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Understanding Canadian Business

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Understanding Canadian Business Chapter 8 Management and Leadership Assignment In teams of 2 Develop 10 interview questions & Find 1 local job ads for high school ... – PowerPoint PPT presentation

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Title: Understanding Canadian Business


1
UnderstandingCanadian Business
  • Chapter 8
  • Management and Leadership

2
Learning Goals
  • Explain how changes in the business environment
    are affecting management function.
  • Describe the four functions of management.
  • Describe the different types of planning and the
    importance of decision making.
  • Describe the organizing function of management
    and the three skills needed by managers.
  • Explain the differences between leaders and
    managers and describe leadership styles.
  • Summarize the five steps of the control function
    of management.

3
Managers Roles are Evolving
  • Every business has scarce resources, and
    management is about deciding how to effectively
    use the resources.
  • Managers are educated to
  • Guide
  • Train
  • Support
  • Motivate and
  • Coach employees

4
Managers Roles are Evolving
  • Most modern managers emphasize
  • Many companies dont hesitate to lay off
    employees, and employees dont hesitate to leave
    if their needs are not being met.

Teamwork and Cooperation vs Discipline and Giving
Orders
5
Managers Roles are Evolving
  • Management will demand a new kind of person
  • A skilled communicator
  • Team player as well asa planner
  • Coordinator
  • Organizer and
  • Supervisor.

6
Management
  • The process used to accomplish organizational
    goals through
  • Planning
  • Organizing
  • Leading and
  • Controlling people and resources.

7
What Managers Do
8
How to Write a Great Business Vision Statement
  • Susan L. Reid

9
PlanningCreate Vision
  • Set vision, goals, objectives
  • Vision/mission why organization exists, purpose
    of organization
  • Goals broad, long-term aims
  • Objectives specific, short-term statements

10
How to Write a Great Mission Statement
  • Susan L. Reid

11
Lego Mission StatementInspire and develop the
builders of tomorrow
  • Our ultimate purpose is to inspire and develop
    children to think creatively, reason
    systematically and release their potential to
    shape their own future - experiencing the endless
    human possibility.

12
Lego Vision StatementInventing the future of
play
  • We want to pioneer new ways of playing, play
    materials and the business models of play -
    leveraging globalisation and digitalisation...it
    is not just about products, it is about realising
    the human possibility.

13
SWOT Analysis
  • A planning tool used to analyze an organizations
    strengths, weaknesses, opportunities, and
    threats.

14
SWOT Analysis
  • Strengths
  • What is their strongest business asset?
  • What do they offer that makes them stand out from
    the rest?
  • What unique resources do they have?
  • Do they have any specific marketing expertise?
  • Do they have a broad customer base

15
SWOT Analysis
  • Weaknesses
  • What can be improved?
  • In what areas do their competitors have the edge?
  • What necessary expertise / manpower do they
    currently lack?
  • Do they have cash flow problems?
  • Are they relying primarily on just a few clients
    or customers?

16
SWOT Analysis
  • Opportunities
  • What trends do you see in their industry?
  • What trends might impact their industry?
  • What external changes present interesting
    opportunities?
  • What have you seen in the news recently that
    might present an opportunity for them?

17
SWOT Analysis
  • Threats
  • What obstacles do they face?
  • What is the competition doing that they are not?
  • What challenges can be turned into opportunities?
  • Are external economic forces affecting their
    bottom line?

18
Assignment to be Completed in Teams of 2
  • Complete a SWOT analysis on one of the following
    choices
  • Subway and Pita Pit
  • McDonalds and Big League
  • Starbucks and Second Cup
  • Swiss Chalet and St. Hubert
  • Lego and Mega Bloks
  • Pizza Hut and Dominos

19
Forms of Planning
20
PlanningA Vision for the Organization
  • Long-term plans - set the major goals and the
    strategy to obtain those goals
  • Short-term plans - detailed plan, who does what,
    when and how will it be done
  • Contingency plans - alternative plans (including
    crisis plans) to remain flexible and react to new
    opportunities and challenges

21
Organizing
  • Trend toward self-managed teams
  • Stakeholders who is affected by the
    organization
  • Staffing - hiring and keeping good employees
  • Managing a variety of situations

22
OrganizingCreating a Unified System
  • Organizational Chart
  • A visual device that shows the relationship and
    divides the organizations work it shows who is
    accountable for the completion of specific work
    and who reports to whom.

23
Crisis Planning
  • Crisis Planning is part of contingency planning.
  • It involves reacting to sudden changes in the
    environment.
  • What is the difference between a manager being
    proactive vs reactive?

24
Decision MakingFinding the Best Alternative
Term Definition
Decision Making Choosing among two or more alternatives.
Problem Solving The process of solving the everyday problems that occur. Problem solving is less formal than decision making and usually calls for quicker action.
Brainstorming Coming up with as many solutions to a problem as possible in a short period of time with no censoring of ideas.
PMIPlus MinusImplications Listing all of the pluses for a solution in one column, all the minuses in another, and the implications in a third column.
25
Decision MakingFinding the Best Alternative
26
Levels of Management
27
Tasks SkillsAt Different Levels of Management
  1. Technical skills involve the ability to perform
    tasks
  2. In specific discipline (such as selling a product
    or developing software) or
  3. Department (such as marketing or information
    systems)

28
Tasks SkillsAt Different Levels of Management
  1. Human relations skills involve communication and
    motivation they enable managers to work through
    and with people. Skills are also associated
    with leadership, coaching, morale building,
    delegating, training and development, and help
    and supportiveness.

29
Tasks SkillsAt Different Levels of Management
  1. Conceptual skills involve the ability to picture
    the organization as a whole and the relationships
    among its various parts.

30
Conceptual Skills are Needed in
31
StaffingGetting and Keeping the Right People
  • Staffing is a management function that includes
    hiring, motivating, and retaining the best people
    available to accomplish the companys objectives.
  • Many people are not willing to work at companies
    unless they are treated well and get fair pay.

32
StaffingGetting and Keeping the Right People
  • Employees may leave to find companies that offer
    them a better balance between work and home.
  • Staffing is becoming a greater part of each
    managers assignment, and all managers need to
    cooperate with human resources to win and keep
    good workers.

33
Job Interview Advice
  • Defining Your Unique Selling Points

34
Assignment
  • In teams of 2
  • Develop 10 interview questions
  • Find 1 local job ads for high school students on
    one or a combination of the websites below
  • Times and Transcript - http//timestranscript.can
    adaeast.com/classifieds/employment/pub3
  • Workopolis www.workopolis.com
  • Monster www.monster.ca
  • Kijiji www.monctonkijiji.ca
  • Handwrite or print answers and submit by Friday,
    October 3

35
LeadingProviding Continuous Vision Values
  • Communicate a vision and rally others around that
    vision.
  • In doing so, the leaders should be openly
    sensitive to the concerns of followers, give them
    responsibility, and win their trust.
  • Establish corporate values.
  • The values include a concern for employees, for
    customers, for the environment, and for the
    quality of the companys products.

36
LeadingProviding Continuous Vision Values
  • Promote corporate ethics.
  • Ethics include an unfailing demand for honesty
    and an insistence that everyone in the company is
    treated fairly.
  • Embrace change.
  • A leaders most important job may be to transform
    the way the company does business so that its
    more effective and efficient.

37
Leadership Styles
Term Definition
Autocratic Leadership Involves making managerial decisions without consulting others.
Participative (democratic) leadership Consists of managers and employees working together to make decisions.
Free-rein (laissez-faire) leadership Involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives.
38
Leadership Styles
39
Enabling
  • Giving workers the education and tools they need
    to make decisions.

40
Reasons for Empowering Non-Supervisory Employees
  • It leads to better decisions made by those
    closest to the customer
  • Fewer, busier managers
  • Predominance of knowledge workers
  • Leads to better decisions and more valuable
    employees

41
The 12 Rules of Leadership
  1. Set a good example
  2. Give your people a set of objectives and a sense
    of direction
  3. Keep your people informed of new developments of
    the company and how theyll affect them
  4. Ask your people for advice
  5. Let your people know that you support them
  1. Dont give orders
  2. Emphasize skills, not rules
  3. Give credit where credit is due
  4. Praise in public
  5. Criticize in private
  6. Criticize constructively
  7. Make it welcome that you welcome new ideas

42
The 7 Donts of Leadership
  1. Trying to be liked rather than respected
  2. Failing to ask subordinates for their advice or
    help
  3. Failing to develop a sense of responsibility in
    subordinates
  4. Emphasizing rules rather than skill
  5. Failing to keep criticism constructive
  6. Not paying attention to employee gripes and
    complaints
  7. Failing to keep people informed

43
Knowledge Management
  1. Finding the right information
  2. Keeping the information in a readily accessible
    place and
  3. Making the information known to everyone in the
    firm.

44
ControllingMaking Sure it Works
45
Measuring Customer Satisfaction
  • Measuring success in a customer-oriented firm is
    customer satisfaction.
  • This includes satisfaction of both external and
    internal customers.
  • External customers are dealers, who buy products
    and sell to others, and ultimate customers (or
    end users), who buy products for their own
    personal use.
  • Internal customers are individuals and units
    within the firm that receive services from other
    individuals or units.
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