Some of the new challenges facing managers today include responding to pubic criticism, constant change, and global competition.
In this chapter, management is defined as the process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources.
The four functions of management are planning, organizing, leading, and controlling.
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Goals are broad, long-term accomplishments an organization wishes to attain, and objectives are specific, short-term statements detailing how to achieve the organization's goals.
When a company does a SWOP analysis, it analyzes its strengths, weaknesses, opportunities, and strengths.
Strategic planning is the process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals. Tactical planning is the process of developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done. Operational planning is the process of setting work standards and schedules necessary to implement the company's tactical objectives.
The seven Ds in decision making are 1) define the situation, 2) describe/collect needed information, 3) develop alternatives, 4) develop agreement among those involved, 5) decide which alternative is best, 6) do what is indicated, and 7) determine whether the decision was a good one and follow up.
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Empowerment means giving employees the authority and responsibility to respond quickly to customer requests, and enabling, the key to empowerment's success, means giving workers the education and tools they need to make decisions.
The five steps in the control process are 1) establishing clear performance standards, 2) monitoring/recording actual performance, 3) comparing results against standards, 4) communicating results and deviations to the employees involved, and 5) providing positive feedback for work well done and taking corrective action when needed.
External customers are outside the firm, and internal customers are within the firm.
Decisions you must make when choosing a career include what kind of management you're most suited for, small or large business, and private or public organization.
