Elements that make the current business landscape different from the past y Globalization o Key reason for

this change is the strong demand coming from consumers and businesses overseas o Also means that a company s talent can come from anywhere y Technological Change o Technology both complicates things and creates new opportunities o Why is Internet so important to business?  a marketplace, a means for manufacturing goods and services  a distribution channel  an information service and more  drives down costs and speeds up globalization  provides access to information  allows more-informed decisions  improves efficiency of decision-making  facilitates design of new products y Knowledge Management o practices aimed at discovering and harnessing an organization s intellectual resources o Is about finding, unlocking, sharing, and altogether capitalizing on the most precious resources of an organization: people s expertise, skills, wisdom, and relationships y Collaboration across Boundaries o it requires productive communications among different departments, divisions, or other subunits of the organization o occurs beyond the boundaries of the organization itself

Managing for Competitive Advantage y Innovation o Introduction of new goods and services y Quality o Excellence of your product y Service o The speed and dependability with which an organization delivers what customers want y Speed o Fast and timely execution, response, and delivery of results y Cost Competitiveness o Keeping costs low to achieve profits and be able to offer prices that are attractive to consumers Management - The process of working with people and resources to accomplish organizational goals Functions of Management y Planning: Delivering Strategic Value o The management function of systematically making decisions about the goals and activities that an individual, a group, a work unit, or the overall organization will pursue o Value the monetary amount associated with how well a job, task, good, or service meet user s needs y Organizing: Building a Dynamic Organization o The management function of assembling and coordinating human, financial, physical, informational, and other resources needed to achieve goals y Leading: Mobilizing People o The management function that involves the manager s efforts to stimulate high performance by employees y Controlling: Learning and Changing o The management function of monitoring performance and making needed changes

Prepared by: Verbo, Kristina Divina C.

Management Levels & Skills y Top-level Managers o Also referred as strategic managers o The senior executives of an organization and are responsible for its overall management and effectiveness of the organization o Are supposed to focus on longterm issues and emphasize the survival, growth, and overall effectiveness of the organization o Concerned not only with the organization as a whole but also with the interaction between the organization and its external environment y Middle-level Managers o Also called tactical managers o Managers located in the middle layers of the organizational

hierarchy, reporting to top-level executives o Responsible for translating the general goals and plans developed by strategic managers into more specific objectives & activities o An administrative controller who bridges the gap between higher and lower levels o Provide the operating skills and practical problem solving that keep the company working Frontline Managers o Operational managers o Often have the titles Supervisor/Sales manager o Lower-level managers who supervise the operational activities of the organization o Directly involved with the nonmanagement employees, implementing the specific plans developed with middle managers Top-level Managers -From resource allocators to institutional leaders. -Establishing high performance standards. -Institutionaliz-ing a set of norms and values to support cooperation and trust. -Creating an overarching corporate purpose and ambition.

Frontline Managers Changing Roles -From operational implementers to aggresive entrepreneurs. -Creating and pursuing new growth opportunities for the business. -Attracting and developing resources. -Managing continous improvement within the unit.

Middle-level Managers -From administrative controllers to supportive coaches. -Developing individuals and supporting their activities. -Linking dispersed knowledge and skills across units. - Managing the tension between short-term purpose and long term ambition.

Key activities

Management Skills y Technical Skill o The ability to perform a specialized task involving a particular method or process y Conceptual & Decision Skills o Skills pertaining to the ability to identify & resolve problems for the benefit of the organization & its members

Interpersonal & Communication Skills o People skills; the ability to lead, motivate, and communicate effectively with others

Prepared by: Verbo, Kristina Divina C.

To do s to forge a successful gratifying career y Be both a specialist & a generalist o Specialist: you should be expert to something o Generalist: knowing enough about a variety of business disciples so that you can think strategically & work with the different perspectives y Be self-reliant o Take full responsibility for yourself, your actions, and your career y Be connected o Having many good working relationships and interpersonal contacts & being a team player with strong interpersonal skills y Actively manage your relationship with your organization y Survive & Thrive

Prepared by: Verbo, Kristina Divina C.