2.02 understand management vs leadership.. management is the process of accomplishing the goals of...
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Understand the nature of business
2.02 Understand Management vs Leadership.
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Management is the process of accomplishing the goals of an organization through the effective use of people and other resources.
Management
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PlanningOrganizingStaffingImplementingControlling
5 Functions of Management
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The planning function
◦Analyze information◦Set goals◦Make decisions to accomplish the goals
Planning
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◦Identifying the work & resources needed to achieve the goals of the planning stage.
Organizing
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The staffing function includes …
◦Recruiting employees◦Training employees◦Paying employees
Staffing
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◦Directing and leading people to accomplish the goals of the planning stage.
Implementing
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Is the business accomplishing its goals set in the planning stage?
What changes need to bemade? (Restart Cycle)
Controlling
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Levels of Management
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Management style is the way a manager treats and involves employees
◦Tactical◦Strategic◦Mixed
Management Styles
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Directive and controlling Manager makes major decisions Constant monitoring of employees Typically, use for inexperienced employees or during a crisis
Tactical
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Limited direct supervision
Team members do decision making
Typically, used with trusted and/or experienced employees
Strategic
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Combination of both tactical and strategic
Effective managers can use both styles in order to accommodate different types of employees
Mixed
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What is Leadership?
Is It:Leadership is the ability to motivate individuals and groups to accomplish important goals.
Leadership
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Intelligence Judgment Objectivity Initiative Dependability Understanding Cooperation Honesty Courage Confidence Stability
Leadership Traits
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Autocratic LeaderDemocratic LeaderOpen or Laissez-faire leader
Leadership Styles
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The leader needs to give direct, clear, and precise orders and makes decisions
Situations to use style:◦ During an emergency ◦ To direct the work of
inexperienced employees
Autocratic Leader
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One who includes employees in making decisions
Situations to use style: ◦To monitor quality of work of employees
◦To direct the work of employees working as a team
Democratic Leader
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One who gives little or no direction to employees
Situation to use style:◦To monitor achievements and communicate regularly with employees
◦To direct the work of experienced and trained employees
Open/Laissez-faire Leader
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Planning, staffing Recruiting, & hiring Managing compensation and benefits Managing performance of employees
Human Resources Management How Do You Want to Get Paid?
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Planning & Staffing◦ Classifying employees
Permanent (W2) Temporary (Contract) Full Time
30 or more hours per week (usually 40+ hours)
Part Time Less than 30 hours per week Limited or no benefits
Planning, Staffing, Recruiting, Hiring
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Planning & Job Staffing◦ Determining job requirements:
Determine all the duties for a particular job
Recruiting and hiring employees Reviewing applications/resumes Interviewing applicants Checking references of applicants Making a job offer to applicants
Planning, Staffing, Recruiting, Hiring
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Recruiting & Hiring◦ New employee orientation
Paperwork Training Mentor
Planning, Staffing, Recruiting, Hiring
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Compensation method◦ Hourly Wage – Direct payment per hour Time and Half for Over Time
◦ Salary – Set payment Yearly (No OT)
◦ Commission – Percentage of sales◦ Piece Rate – Pay per unit produced◦ Base plus incentive – Direct payment plus
performance pay.
Managing Compensation & Benefits
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Employee benefits◦ Other items given to employee for
working. ◦ For example, health insurance,
vacation time, sick time, dental insurance, etc.
Managing Compensation & Benefits
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Retirement
What is a 401k Plan?What is a Pension Plan?
Why would a company want to keep paying you after you retire
and no longer work there?
Managing Compensation & Benefits