Quick Learning Guide
Business in Action, 5th Edition
LEARNINGOBJECTIVE1:Explainthe
importanceofmanagement,and
identifythethreevitalmanagement
roles.
Summary:Whilemanagersusuallydont
dothehandsonworkinanorganization,
theycreatetheenvironmentandprovide
theresourcesthatgiveemployeesthe
opportunitiestoexcelintheirwork.
Managerialresponsibilitiesinclude
creatingtheorganizationalframework,
fosteringapositiveculture,setting
expectations,andprovidingresources.
Thethreevitalmanagerialrolesare
interpersonal(interactingwithothers),
informational(receivingandsharing
information),anddecisional(making
decisions).
Criticalthinking:(1)Howaresocial
mediachangingthenatureofthe
managersinformationrole?(2)Would
managersgetmorerespectfrom
employeesiftheyrolleduptheir
sleevesandpitchedinwiththedaily
workmoreoften?Whyorwhynot?
Itsyourbusiness:(1)Reviewthe
processyouwentthroughtochoosethe
collegeyouarecurrentlyattending.
Whatlessonsfromyourexperience
couldsomeoneapplytomanagerial
decisionmaking?(2)Doyoubelieveyou
havetherightpersonalityfor
management?Ifnot,whatareaswould
youworkon?
Keytermstoknow:management,
managerialroles
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LEARNINGOBJECTIVE2:Describe
theplanningfunction,andoutline
thestrategicplanningprocess.
Summary:Planningistheprocessof
developingstrategies,establishinggoals
andobjectivesfortheorganization,and
translatingthosestrategiesandgoals
intoactionplans.Plansvaryintheirtime
frameandscope,fromhighlevel,long
rangestrategicplanstolowerlevel,
shorttermoperationalplans.The
strategicplanningprocessconsistsofsix
interrelatedsteps:definingthe
organizationsmission,vision,and
values;performingaSWOTanalysis;
developingforecasts;analyzingthe
competition;establishinggoalsand
objectives;anddevelopingactionplans.
Criticalthinking:(1)WouldBoeingand
OldNavydevelopstrategicplansover
thesametimehorizon?Whyorwhynot?
(2)Howdoesthevisionstatementguide
theplanningprocess?
Itsyourbusiness:(1)Whatisyour
personalvisionstatementforyour
careerandyourlife?Haveyouever
thoughtaboutyourfutureinthisway?
(2)Consideracareerpaththatyoumight
pursueupongraduation,andperforma
quickSWOTanalysis.Whataresomeof
yourinternalstrengthsandweaknesses
andexternalopportunitiesandthreats?
Keytermstoknow:planning,strategic
plans,missionstatement,vision
statement,valuesstatement,goal,
objective,tacticalplans,operational
plans
Chapter 7
Management Roles, Functions,
and Skills
LEARNINGOBJECTIVE3:Describe
theorganizingfunction,and
differentiateamongtop,middle,
andfirstlinemanagement.
Summary:Theorganizingfunctionisthe
processofarrangingtheorganizations
resourcesinthebestwaypossibleto
helpreachgoalsandobjectives.Top
managersgrapplewithlongrange,
strategicissuesandoftenmustmake
decisionsabouteventsandconditions
severalyearsintothefuture.Theyalso
haveimportantcommunicationroles,
representingthecompanytoexternal
stakeholders.Middlemanagersusually
haveresponsibilityoverindividual
divisionsorfacilitiesandarecharged
withtranslatingstrategicplansintothe
tacticalplansthatwillallowthecompany
toreachitsgoalsandobjectives.First
linemanagerssupervisenon
managementemployees;theyhavethe
shortesttimehorizonsandgreatest
tacticalperspective.
Criticalthinking:(1)Whymighta
managerneedtodeemphasizeskills
honedinpreviouspositionsasheorshe
risesthroughtheorganizational
hierarchy?(2)Wouldtopmanagersor
firstlinemanagerstypicallyhavemore
orlessoftheinformationtheydliketo
haveforthedecisionstheyneedto
make?Why?
Itsyourbusiness:(1)Haveyouever
supervisedothersonthejoborin
volunteerwork?Ifso,howwouldyou
rateyourperformanceasamanager?(2)
Ifyouweresuddenlypromotedto
managethedepartmentyouvebeen
workingin,wouldyouchangeyour
workpersonality?Whyorwhynot?
Keytermstoknow:organizing,
managementpyramid,topmanagers,
middlemanagers,firstlinemanagers
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LEARNINGOBJECTIVE4:Describe
theleadingfunction,leadership
style,andorganizationalculture.
Summary:Leadingistheartandscience
ofinfluencingandmotivatingpeopleto
worktowardcommongoals.Leaderscan
exhibitarangeofstylesinwhatthey
choosetofocuson(strategicversus
operationalmatters)andhowtheymake
thingshappen(forcingversusenabling).
Threespecificleadershipstylesare
autocratic,democratic,andlaissezfaire.
Organizationalcultureisthesetof
underlyingvalues,norms,andpractices
sharedbymembersofanorganization.
Criticalthinking:(1)Aremanagement
andleadershipthesamething?Ifnot,
whynot?(2)Canasingleindividualbe
anautocratic,ademocratic,anda
laissezfaireleader?Whyorwhynot?
Itsyourbusiness:(1)Regardingthe
threebasicleadershipstylesautocratic,
democratic,andlaissezfairewhatis
yournaturalinclination?Thinkabout
timesinschool,atwork,orinsocial
situationsinwhichyouplayeda
leadershiprole.Howdidyoulead?(2)
Doesleadershipexperienceinschool
activitiessuchasstudentgovernment
andathleticshelpprepareyoufor
businessleadership?Whyorwhynot?
Keytermstoknow:leading,autocratic
leaders,democraticleaders,participative
management,laissezfaireleaders,
employeeempowerment,coaching,
mentoring,organizationalculture
LEARNINGOBJECTIVE5:Describe LEARNINGOBJECTIVE6:Identifyand
thecontrollingfunction,andexplain explainfourimportanttypesof
thefourstepsinthecontrolcycle. managerialskills.
Summary:Thecontrollingfunction Summary:Interpersonalskillsarethe
consistsoftheactivitiesanddecisions abilitiestocommunicatewith,motivate,
involvedinkeepingthecompanys andleadothers.Technicalskillsinvolve
activitiesontracktowardpreviously themechanicsofaparticularjob,
establishedgoals.Thefourstepsinthe includingtheadministrativeskillsof
controlcycleareestablishing projectmanagement.Conceptualskills
performancestandardsbasedonthe aretheabilitiestovisualize
strategicplan,measuringperformance, organizations,systems,markets,and
comparingperformancetostandards, solutionsevenwhentheymaynotexist
andrespondingasneeded. yet.Decisionmakingskillsinclude
definingproblemsandopportunitiesand
Criticalthinking:(1)Whyisitimportant
selectingthebestcourseofactionto
tomeettheneedsofinternal
takeineachcase.
customers?(2)Isloweringperformance
standardsinresponsetoafailureto Criticalthinking:(1)Whyistrustavital
meetthosestandardsnecessarilyasign aspectofamanagersinterpersonal
ofgivingup?Whyorwhynot? skills?(2)Whataretherisksofdefining
problemsoropportunitiespoorlyprior
Itsyourbusiness:(1)Doyoubenchmark
tomakingdecisions?
yourperformanceinanyaspectofyour
personaloracademiclife?Ifyes,doesit Itsyourbusiness:(1)Wouldyou
helpyouimprove?Ifno,wouldithelp succeedasamanagerifyoustarteda
youimproveifyoutriedit?(2)Think companyrightoutofcollege,without
backoveranycrisesyouvefacedinyour havinggainedanyexperienceasan
life.Howwelldidyourespond?What employeeinanothercompany?Whyor
wouldyoudodifferentlyinafuture whynot?(2)Howwouldyourateyour
crisis? conceptualskills?Doesseeingthebig
picturecomeeasilytoyou?Ifnot,how
Keytermstoknow:controlling,
mightyouimproveinthisarea?
standards,benchmarking,quality,
balancedscorecard,crisismanagement Keytermstoknow:interpersonalskills,
technicalskills,administrativeskills,
conceptualskills,decisionmakingskills