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1- No theft, no match please.

2-You can find the instructions inside the document

3- Please write a paper in the document

4- Write a report on whatever you use to research and what you write in a different document because we will discuss it separately in class

Write at least 2 references using the APA style.

NB:

Please use simple language

Put the in-text quote in each.

Additions within the document.

List the four principle functions of a manager.

Identify the roles an effective manager must play.

Identify the seven challenges faced by most managers

Because learning changes everything. ®
Week 1 (PPT1)
CHAPTER 1
The Exceptional
Manager What You
Do, How You Do It
© 2022 McGraw Hill. All rights reserved. Authorized only for instructor use in the classroom.
No reproduction or further distribution permitted without the prior written consent of McGraw Hill.
©Olivier Renck/ Getty Images
LEARNING OBJECTIVES
1-1
1-2
1-3
1-4
1-5
1-6
1-7
Identify the rewards of being an exceptional manager.
List the four principle functions of a manager.
Describe the levels and areas of management.
Identify the roles an effective manager must play.
Discuss the skills of an outstanding manager.
Identify the seven challenges faced by most managers.
Define the core competencies, knowledge, soft skills,
attitudes, and other characteristics needed for career
readiness and discuss how they can be developed.
1-8 Describe the process for managing your career
readiness.
© McGraw Hill
USING MANAGEMENT SKILLS
FOR COLLEGE SUCCESS
1. Functions of management.
2. Applying the functions of management to
school projects.
3. Applying the functions of management in
your personal life.
© McGraw Hill
MANAGEMENT: WHAT IT IS, WHAT
ITS BENEFITS ARE
The Rise of a Leader
Key to Career Growth: “Doing Things I’ve Never
Done Before”
The Art of Management Defined
Why Organizations Value Managers: The Multiplier
Effect
What Are the Rewards of Studying and Practicing
Management?
© McGraw Hill
THE RISE OF A LEADER
General Motors CEO Mary Barra
© McGraw Hill
Mark Lennihan/AP Images
KEY TO CAREER GROWTH:
“DOING THINGS I’VE NEVER DONE BEFORE”
Jeff Bezos, founder of Amazon, left Wall
Street to start Amazon from his basement.
© McGraw Hill
THE ART OF MANAGEMENT DEFINED
•
•
•
•
© McGraw Hill
Being an exceptional manager is an art that can
be learned.
Management is the art of getting things done
through people.
Managers are task-oriented, achievementoriented, and people-oriented.
Good managers are concerned with trying to
achieve both efficiency and effectiveness.
WHY ORGANIZATIONS VALUE MANAGERS:
THE MULTIPLIER EFFECT
Good managers
create value.
© McGraw Hill
As a manager you have
a multiplier effect: Your
influence on the
organization is
multiplied far beyond the
results that can be
achieved by just one
person acting alone.
WHAT ARE THE REWARDS OF STUDYING
MANAGEMENT?
The rewards of studying management include:
•
You will have an insider’s understanding of how to
deal with organizations from the outside.
•
You will know from experience how to relate to
your supervisors.
•
You will better interact with co-workers.
•
You will be able to manage yourself and your
career.
•
You might make more money during your career.
© McGraw Hill
WHAT ARE THE REWARDS OF PRACTICING
MANAGEMENT?
The rewards of practicing management
include:
•
You and your employees can experience a
sense of accomplishment.
•
You can stretch your abilities and magnify your
range.
•
You can build a catalog of successful products
or services.
© McGraw Hill
WHAT MANAGERS DO:
THE FOUR PRINCIPAL FUNCTIONS
• Planning: Discussed in Part 3
• Organizing: Discussed in Part 4
• Leading: Discussed in Part 5
• Controlling: Discussed in Part 6
© McGraw Hill
THE MANAGEMENT PROCESS
Figure 1.1: The Management Process
Access the text alternative for these images.
© McGraw Hill
PYRAMID POWER: LEVELS OF AND AREAS
OF MANAGEMENT
• The Traditional Management Pyramid:
Levels and Areas
• Four Levels of Management
• Areas of Management: Functional
Managers versus General Managers
• Managers for Three Types of
Organizations: For-Profit, Nonprofit,
Mutual-Benefit
• Different Organizations, Different
Management?
© McGraw Hill
THE TRADITIONAL MANAGEMENT PYRAMID:
LEVELS AND AREAS
Figure 1.2
© McGraw Hill
FOUR LEVELS OF MANAGEMENT
• Top managers make long-term decisions.
• Middle managers implement the policies and
plans of the top managers above them.
• First-line managers make short-term
operating decisions.
• Team leader is responsible for facilitating
team activities.
• Nonmanagerial employees either work
alone on tasks or with others on a variety of
teams.
© McGraw Hill
AREAS OF MANAGEMENT: FUNCTIONAL
MANAGERS VERSUS GENERAL MANAGERS
• Functional
managers are
responsible for just
one organizational
activity.
• General managers
are responsible for
several
organizational
activities.
© McGraw Hill
D Dipasupil/Getty Image
MANAGERS FOR THREE TYPES OF
ORGANIZATIONS
For-profit organizations
Nonprofit organizations
Mutual-benefit organizations
© McGraw Hill
DIFFERENT ORGANIZATIONS,
DIFFERENT MANAGEMENT?
Generally you would be performing the four
management functions of planning,
organizing, leading, and controlling,
regardless of the type of organization.
The measures of success is the single
biggest difference.
© McGraw Hill
ROLES MANAGERS MUST PLAY
SUCCESSFULLY
The Manager’s
Roles: How Do
Managers Spend
Their Time?
© McGraw Hill
Three Types of
Managerial Roles:
• Interpersonal
• Informational
• Decisional
THE MANAGER’S ROLES: HOW DO
MANAGERS SPEND THEIR TIME?
• Managers are always working, and they
are in constant demand.
• Managers spend virtually all of their work
time communicating with others.
• Managers must be purposeful and
proactive about managing their time.
© McGraw Hill
THREE TYPES OF MANAGERIAL ROLES:
INTERPERSONAL, INFORMATIONAL, AND
DECISIONAL
Interpersonal roles:
•
Figurehead, Leader, and Liaison
Informational roles:
•
Monitor, Disseminator, and Spokesperson
Decisional roles:
•
© McGraw Hill
Entrepreneur, Disturbance Handler, Resource
Allocator, and Negotiator
THE SKILLS EXCEPTIONAL
MANAGERS NEED
Technical Skills:
• The ability to perform a
specific job
Conceptual Skills:
• The ability to think
analytically
Human Skills:
• “Soft Skills,” the ability to
interact well with people
© McGraw Hill
And additional
valued traits in
managers.
TECHNICAL SKILLS
Having the requisite technical skills seems to
be most important at the lower levels of
management—that is, among employees in
their first professional job and first-line
managers.
© McGraw Hill
CONCEPTUAL SKILLS
Conceptual skills are more important as you
move up the management ladder, particularly
for top managers, who must deal with
problems that are ambiguous but that could
have far-reaching consequences.
© McGraw Hill
HUMAN SKILLS
The most difficult set of skills to master but
which are especially important with people in
teams, an important part of today’s
organizations.
© McGraw Hill
THE MOST VALUABLE TRAITS IN MANAGERS
Among the chief skills companies seek in top
managers are the following:
•
The ability to motivate and engage others
•
The ability to communicate
•
Work experience outside the United States
•
High energy levels to meet the demands of
global travel and a 24/7 world
© McGraw Hill
SEVEN CHALLENGES TO BEING AN
EXCEPTIONAL MANAGER
Challenge #1:
• Managing for Competitive Advantage—Staying Ahead of Rivals
Challenge #2:
• Managing for Technological Advances—Dealing with the “New Normal”
Challenge #3:
• Managing for Inclusion and Diversity—The Future Won’t Resemble the Past
Challenge #4:
• Managing for Globalization—The Expanding Management Universe
Challenge #5:
• Managing for Ethical Standards
Challenge #6:
• Managing for Sustainable Development—The Business of Green
Challenge #7:
• Managing for Happiness and Meaningfulness
© McGraw Hill
CHALLENGE #1:
MANAGING FOR COMPETITIVE ADVANTAGE—
STAYING AHEAD OF RIVALS
Organizations must stay ahead in four areas
•
Being responsive to customers
•
Innovation
•
Quality
•
Efficiency
© McGraw Hill
CHALLENGE #2:
MANAGING FOR TECHNOLOGICAL
ADVANCES–DEALING WITH THE NEW
NORMAL
•
•
•
•
•
•
© McGraw Hill
Ecommerce
Far-ranging electronic management all of the time.
Data, data, and more data: a challenge to decision
making
The rise of artificial intelligence: more automation in
the workforce
Organizational changes: shifts in structure, jobs,
goals, and management
Knowledge management and collaborative
computing
CHALLENGE #3:
MANAGING FOR INCLUSION AND
DIVERSITY—THE FUTURE WON’T RESEMBLE
THE PAST
•
In the coming years there will be a different mix of
women, immigrants, and older people in the general
population, as well as in the workforce.
•
Some scholars think that diversity and variety in staffing
produce organizational strength.
•
Clearly, however, the challenge to the manager of the
near future is to maximize the contributions of employees
diverse in gender, age, race, ethnicity, and sexual
orientation.
© McGraw Hill
CHALLENGE #4:
MANAGING FOR GLOBALIZATION—THE
EXPANDING MANAGEMENT UNIVERSE
•
Verbal expressions and gestures don’t mean the same
thing to everyone around the world.
•
Failure to understand cultural differences can affect
organizations’ ability to manage globally.
•
Globalization is the increasingly interconnected nature of
business around the world.
•
Managing for globalization will be a complex, ongoing
challenge.
© McGraw Hill
CHALLENGE #5:
MANAGING FOR ETHICAL STANDARDS
•
Recent incidents point to serious repercussions
when people fail to realize that ethical standards
must be followed in every area of life.
•
Ethical lapses have the potential to do great
harm, and not only financial harm.
© McGraw Hill
CHALLENGE #6:
MANAGING FOR SUSTAINABLE
DEVELOPMENT—THE BUSINESS OF GREEN
•
Our economic system has brought prosperity but in doing
so has often assumed an unlimited supply of natural
resources.
•
We now believe some of the actions and decisions of the
past have caused irreversible damage to the
environment.
•
The United Nations addressed these issues by adopting
a set of 17 Sustainable Development Goals.
•
Clearly sustainable development is a critical issue facing
businesses today.
© McGraw Hill
CHALLENGE #7:
MANAGING FOR HAPPINESS AND
MEANINGFULNESS
•
Research shows that a sense of meaningfulness
in your life is associated with better health, work
and life satisfaction, and performance.
Build meaning into your life by:
•
•
Identifying activities you love doing
•
Finding a way to build your natural strengths into your
personal and work life
•
Going out and helping someone
© McGraw Hill
BUILDING YOUR CAREER READINESS
Figure 1.3
Sources: National Association of Colleges and Employers, “Are College Graduates ‘Career Ready’?” February 19, 2018,
https://www.naceweb.org/career-readiness/competencies/are-college-graduates-career-ready/. Data derived from NACE’s “Job
Outlook 2018” and “The Class of 2017 Student Survey Report.”
Access text description for images.
© McGraw Hill
FIGURE 1.4 MODEL OF CAREER READINESS
Access text description for images.
© McGraw Hill
DEVELOPING CAREER READINESS
•
Build self-awareness.
•
Learn from educational activities.
•
Model others possessing the targeted
competencies.
•
Learn from on-the-job activities.
•
Seek experience from student groups and
organizations.
•
Experiment.
© McGraw Hill
MANAGING YOUR CAREER READINESS
Three keys to success.
1. It’s your responsibility to manage your career. Don’t
count on others.
2. Personal reflection, motivation, commitment, and
experimentation are essential.
3. Success is achieved by following a process.
© McGraw Hill
STEPS FOR DEVELOPING
CAREER READINESS
STEP 1:
•
Examine the list of career readiness competencies and
pick two or three that impact your current performance.
STEP 2:
•
Consider how you can use material from the text to
develop your targeted career readiness competencies.
STEP 3:
•
Experiment with small steps aimed at developing your
targeted career readiness competencies.
STEP 4:
•
© McGraw Hill
Evaluate what happened during your small-step
experiments.
A PROCESS FOR DEVELOPING
CAREER READINESS
Figure 1.5
Process for
managing
career
readiness.
Kinicki and
Associates, Inc.
2022
Access text descriptions for images.
© McGraw Hill
MAKE IT A HABIT
A simple way to approach the task of
managing your career readiness:
Make it a habit.
© McGraw Hill
•
Identify something specific you want to
accomplish.
•
Identify a simple, tiny change you can
implement.
End of Main Content
Because learning changes everything.
www.mheducation.com
© 2020 McGraw Hill. All rights reserved. Authorized only for instructor use in the classroom.
No reproduction or further distribution permitted without the prior written consent of McGraw Hill.
®
Because learning changes everything. ®
Week 2
(PPT2A)
CHAPTER 2
MANAGEMENT
THEORY
Essential Background for
the Successful Manager
© 2022 McGraw Hill. All rights reserved. Authorized only for instructor use in the classroom.
No reproduction or further distribution permitted without the prior written consent of McGraw Hill.
©Olivier Renck/ Getty Images
LEARNING OBJECTIVES
2-1 Describe the development of current perspectives on
management.
2-2 Discuss the insights of the classical view of management.
2-3 Describe the principles of the behavioral view of
management.
2-4 Discuss the two quantitative approaches to solving problems.
2-5 Identify takeaways from the systems view of management.
2-6 Explain why there is no one best way to manage in all
situations.
2-7 Define how managers foster a learning organization, highperformance work practices, and shared value and
sustainable development.
2-8 Describe how to develop the career readiness competency of
understanding the business.
© McGraw Hill
MANAGE YOU: WHAT TYPE OF WORK
ENVIRONMENT DO I PREFER?
• What Does It Mean for
You?
• How Can You Get a Job
in a Peopled
Organization?
© McGraw Hill
EVOLVING VIEWPOINTS: HOW WE GOT
TO TODAY’S MANAGEMENT OUTLOOK
Creating Modern Management:
The Handbook of Peter Drucker
Six Practical Reasons for Studying This Chapter
The Progression of Management Perspectives
© McGraw Hill
CREATING MODERN MANAGEMENT:
THE HANDBOOK OF PETER DRUCKER.
Understanding management history can
assist you in determining the type of
management style you prefer.
Drucker introduced several ideas that
now underlie the organization and
practice of management.
•
Workers should be treated as assets.
•
The corporation could be considered a
human community.
•
There is “no business without a customer.”
•
Institutionalized management practices
are preferable to charismatic cult leaders.
© McGraw Hill
Jonathan Alcorn/ZUMAPRESS/ Newscom
SIX PRACTICAL REASONS FOR
STUDYING THIS CHAPTER
1. Understanding of the present
2. Guide to action
3. Source of new ideas
4. Clues to the meaning of your managers’ decisions
5. Clues to the meaning of outside events
6. Producing positive results
© McGraw Hill
FIGURE 2.1 PROGRESSION OF
MANAGEMENT PERSPECTIVES
Access the text alternative for slide images.
© McGraw Hill
CLASSICAL VIEWPOINT: SCIENTIFIC AND
ADMINISTRATIVE MANAGEMENT
• Scientific Management:
Pioneered by Taylor and the
Gilbreths
• Administrative Management:
Pioneered by Spaulding,
Fayol, and Weber
• The Problem with the
Classical Viewpoint: Too
Mechanistic
© McGraw Hill
Bettmann/Getty Images
SCIENTIFIC MANAGEMENT: PIONEERED BY
TAYLOR AND THE GILBRETHS
Frederick Taylor and the Four Principles of Scientific
Management:
© McGraw Hill
•
Evaluate a task by scientifically studying each part of it.
•
Carefully select workers with the right abilities for the task.
•
Give workers the training and incentives to do the task with
the proper work methods.
•
Use scientific principles to plan the work methods and ease
the way for workers to do their jobs.
SCIENTIFIC MANAGEMENT:
PIONEERED BY TAYLOR AND THE
GILBRETHS
•
•
•
•
© McGraw Hill
Frank and Lillian Gilbreth and
Industrial Engineering.
Identified 17 basic motions and
applied them to work processes
to determine whether the tasks
could be done more efficiently.
Demonstrated they could
eliminate motions while reducing
fatigue for some workers.
The Gilbreths are important
because they reinforced the link
between studying the physical
movements in a job and workers’
efficiency.
Bettmann/Getty Images
ADMINISTRATIVE MANAGEMENT: PIONEERED
BY SPAULDING, FAYOL, AND WEBER 1
Charles Clinton Spaulding:
the “Father of African-American Management”
Suggested considerations
such as:
•
•
•
•
•
•
© McGraw Hill
The need for authority
Division of labor
Adequate capital
Proper budgeting
Cooperation
Teamwork
Highlighted the need to
enrich “the lives of his
organizational and
community family” while
simultaneously focusing
on making a profit.
ADMINISTRATIVE MANAGEMENT: PIONEERED
BY SPAULDING, FAYOL, AND WEBER 2
• Fayol was not the first to investigate
management behavior, but he was the first to
systematize it.
• His most important work, General and
Industrial Management, was translated into
English in 1930.
• Fayol was the first to identify the major
functions of management—planning,
organizing, leading, and controlling.
© McGraw Hill
ADMINISTRATIVE MANAGEMENT: PIONEERED
BY SPAULDING, FAYOL, AND WEBER 3
Weber believed bureaucracy was a rational, efficient,
ideal organization based on principles of logic.
A better-performing organization, he felt, should have
five positive bureaucratic features:
1. A well-defined hierarchy of authority
2. Formal rules and procedures
3. A clear division of labor, with parts of a complex job being
handled by specialists
4. Impersonality, without reference or connection to a particular
person
5. Careers based on merit
© McGraw Hill
THE PROBLEM WITH THE CLASSICAL
VIEWPOINT: TOO MECHANISTIC
•
A flaw in the classical viewpoint is that it tends to view
humans as cogs within a machine, not taking into
account the importance of human needs.
•
The essence of the classical viewpoint was that work
activity was amenable to a rational approach.
•
The classical viewpoint also led to such innovations
as management by objectives and goal setting.
© McGraw Hill
BEHAVIORAL VIEWPOINT: BEHAVIORISM,
HUMAN RELATIONS, AND BEHAVIORAL
SCIENCE 1
Behavioral viewpoint: Emphasized the importance
of understanding human behavior and motivating
employees toward achievement
Developed over three phases:
1. Early behaviorism
2. The human relations
movement
3. Behavioral science
© McGraw Hill
BEHAVIORAL VIEWPOINT: BEHAVIORISM,
HUMAN RELATIONS, AND BEHAVIORAL
SCIENCE 2
• Early Behaviorism:
Pioneered by
Munsterberg, Follett, and
Mayo
• The Human Relations
Movement: Pioneered by
Maslow and McGregor
• The Behavioral Science
Approach
© McGraw Hill
AP Images
EARLY BEHAVIORISM: PIONEERED BY
MUNSTERBERG, FOLLETT, AND MAYO 1
Hugo Munsterberg is called the father of industrial
psychology.
He suggested that psychologists could contribute to
industry in three ways:
1. Study jobs and determine which people are best suited to
specific jobs.
2. Identify the psychological conditions under which employees
do their best work.
3. Devise management strategies to influence employees to
follow management’s interests.
© McGraw Hill
EARLY BEHAVIORISM: PIONEERED BY
MUNSTERBERG, FOLLETT, AND MAYO 2
• Mary Parker Follett was lauded as a female
pioneer in the fields of civics and sociology.
• Follett thought organizations should become
more democratic, with managers and
employees working cooperatively.
• Three key ideas in making organizations
more democratic
© McGraw Hill
EARLY BEHAVIORISM: PIONEERED BY
MUNSTERBERG, FOLLETT, AND MAYO 3
Mayo led a Harvard research group to conduct worker
productivity studies at Western Electric’s Hawthorne
(Chicago) plant in the late 1920s.
Hawthorne Effect:
•
© McGraw Hill
Employees worked harder if they received added attention, if they
thought that managers cared about their welfare, or that
supervisors paid special attention to them.
THE HUMAN RELATIONS MOVEMENT:
PIONEERED BY MASLOW
• Abraham Maslow and the Hierarchy of Needs
• Maslow observed that his patients had certain
innate needs that had to be satisfied before
they could reach their fullest potential.
© McGraw Hill
THE HUMAN RELATIONS MOVEMENT:
PIONEERED BY MCGREGOR
•
Douglas McGregor came to realize that it was not
enough for managers to try to be liked; they also
needed to be aware of their attitudes toward
employees.
•
These attitudes could be thought of as either “X” or
“Y.”
© McGraw Hill
THE BEHAVIORAL SCIENCE APPROACH
• Behavioral science relies on scientific research for
developing theories about human behavior that
can be used to provide practical tools for
managers.
• The disciplines of behavioral science include
psychology, sociology, anthropology, and
economics.
© McGraw Hill
QUANTITATIVE VIEWPOINTS:
OPERATIONS
MANAGEMENT AND EVIDENCE-BASED
MANAGEMENT
• Operations Management: Being
More Effective
• Evidence-Based Management:
Facing Hard Facts, Rejecting
Nonsense
© McGraw Hill
OPERATIONS MANAGEMENT: BEING
MORE EFFECTIVE
Operations management consists of all the job
functions and activities in which managers:
• Schedule and delegate work and job training,
• Plan production to meet customer needs,
• Design services customers want and how to deliver
them,
• Locate and design company facilities, and
• Choose optimal levels of product inventory to keep costs
down and reduce backorders.
© McGraw Hill
EVIDENCE-BASED MANAGEMENT: FACING
HARD FACTS, REJECTING NONSENSE
Evidence-based management is based on the belief
that:
• Facing the hard facts about what works and what
doesn’t,
• Understanding the dangerous half-truths that constitute
so much conventional wisdom about management, and
• Rejecting the total nonsense that too often passes for
sound advice will help organizations perform better.
© McGraw Hill
THE SYSTEMS VIEWPOINT 1
• The Systems Viewpoint
• The Four Parts of a System
© McGraw Hill
THE SYSTEMS VIEWPOINT 2
• Managers must understand how the different
parts of an organization come together to achieve
its goals in order to diagnose problems and
develop effective solutions.
• Even though a system may not work very well, it
is nevertheless still a system.
© McGraw Hill
THE FOUR PARTS OF A SYSTEM
• Systems may be open or
closed.
The four parts of a
system are:
1. Inputs
2. Transformational
processes
3. Outputs
4. Feedback
© McGraw Hill
• Synergy in a system
creates an effect that is
greater than the sum of
individual efforts.
• Systems viewpoint led to
the development of
Complexity Theory.
FIGURE 2.2 THE FOUR PARTS OF A SYSTEM
Access the text alternative for slide images.
© McGraw Hill
CONTINGENCY VIEWPOINT
• The contingency viewpoint began to develop
when managers discovered that under some
circumstances better results could be achieved by
breaking the one-best-way rule.
• The beauty, and simplicity, of contingency theory
lies in the proposition that there is not one best
way to manage.
© McGraw Hill
CONTEMPORARY APPROACHES
• The Learning Organization: Sharing Knowledge
and Modifying Behavior
• High-Performance Work Practices
• Shared Value and Sustainable Development:
Going beyond Profits
• Responsible Management Education: The United
Nations Takes the Lead
© McGraw Hill
THE LEARNING ORGANIZATION: SHARING
KNOWLEDGE AND MODIFYING BEHAVIOR
• Keep on learning.
• Individuals who
embrace learning make
the organization
smarter and contribute
to its growth.
• A key challenge for
managers, therefore, is
to establish a culture of
shared knowledge and
values that will enhance
their employees’ ability
to learn.
© McGraw Hill
Three parts of a learning
organization:
1. Creating and acquiring
knowledge
2. Transferring knowledge
3. Modifying behavior
HIGH-PERFORMANCE WORK PRACTICES
The job of management, according to this viewpoint,
is to create human resource (HR) practices that
foster employee development and overall wellbeing.
High-performance work practices include:
• Ability-enhancing practices
• Motivation-enhancing practices
• Opportunity-enhancing practices
© McGraw Hill
SHARED VALUE AND SUSTAINABLE
DEVELOPMENT: GOING BEYOND PROFITS
• Shared value and sustainable development look
beyond short-term profits and focuses on the
environmental and social costs of doing business.
• Sustainable development focuses on meeting the
needs of the present without compromising the
ability of future generations to meet their own
needs.
• Shared value and sustainable development is
where business and sustainability intersect.
© McGraw Hill
RESPONSIBLE MANAGEMENT EDUCATION:
THE UNITED NATIONS TAKES THE LEAD
• The growing importance of shared value and
sustainable development has led the United
Nations (UN) to tackle the issue.
• In 2007, the organization launched Principles for
Responsible Management Education (PRME).
• The mission of PRME is to “transform business
and management education, research and
thought leadership globally, while promoting
awareness about the Sustainable Development
Goals [SDGs], and developing the responsible
business leaders of tomorrow.”
© McGraw Hill
CAREER CORNER: MANAGING YOUR
CAREER READINESS 1
• Recruiters expect you to do some research, just
as you would for a class assignment.
• That’s good for both you and a potential employer
because it helps identify the likely level of fit
between the two of you.
• Good fit, in turn, is associated with more positive
work attitudes and task performance, lower
intentions to quit, and less job-related stress.
© McGraw Hill
FIGURE 2.3 MODEL OF CAREER READINESS
Access text descriptions for image.
© McGraw Hill
CAREER CORNER: MANAGING YOUR
CAREER READINESS 3
To demonstrate that you understand a business,
you should learn the following 7 things about a
company before showing up for an interview:
1. The company’s missions and vision statements
2. The company’s core values and culture
3. The history of the company
4. Key organizational players
5. The company’s products, service, and clients
6. Current events and accomplishments
7. Comments from current or previous employers
© McGraw Hill
End of Main Content
Because learning changes everything.
www.mheducation.com
© 2022 McGraw Hill. All rights reserved. Authorized only for instructor use in the classroom.
No reproduction or further distribution permitted without the prior written consent of McGraw Hill.
®
Because learning changes everything. ®
Week 2
(PPT2B)
CHAPTER 3
THE MANAGER’S WORK
ENVIRONMENT AND
ETHICAL
RESPONSIBILITIES
Doing the Right Thing
© 2022 McGraw Hill. All rights reserved. Authorized only for instructor use in the classroom.
No reproduction or further distribution permitted without the prior written consent of McGraw Hill.
©Olivier Renck/ Getty Images
LEARNING OBJECTIVES
3-1 Describe the triple bottom line of people, planet, and
profit.
3-2 Identify important stakeholders inside the organization.
3-3 Identify important stakeholders outside the
organization.
3-4 Explain the importance of ethics and values in
effective management.
3-5 Describe the concept of social responsibility and its
role in today’s organizations.
3-6 Discuss the role of corporate governance in assessing
management performance.
3-7 Describe how to develop the career readiness
competency of professionalism/work ethic.
© McGraw Hill
MANAGE U: BEING COURAGEOUS AT WORK
•
Practice in a Low-Risk Setting
•
Plan for an Endurance Event
•
Rely on Self-Regulation after
the Act of Courage
© McGraw Hill
THE GOALS OF BUSINESS: MORE THAN
MAKING MONEY
The Triple Bottom Line: People, Planet, and
Profit
Younger Workers’ Search for Meaning
© McGraw Hill
THE TRIPLE BOTTOM LINE: PEOPLE, PLANET,
AND PROFIT
•
•
© McGraw Hill
In this view of corporate performance, an
organization has a responsibility to its
people, planet, and profit.
Success in these areas can be measured
through a social audit.
YOUNGER WORKERS’ SEARCH FOR
MEANING
•
•
•
© McGraw Hill
Millennials (born between 1981 and 1996)
and Gen Zers (born after 1997) care about
the triple bottom line.
Younger workers expect more from the
organizations they work for and do
business with.
These generations want things like
meaningful work and products that
represent their personal values more than
older generations ever did.
THE COMMUNITY OF STAKEHOLDERS
INSIDE THE ORGANIZATION
Internal and External Stakeholders
Internal Stakeholders
© McGraw Hill
7
INTERNAL AND EXTERNAL STAKEHOLDERS
•
© McGraw Hill
Managers operate in two organizational
environments, both made up of various
stakeholders.
INTERNAL STAKEHOLDERS
Large or small, your organization has people
in it who have both an important stake in how
it performs and the power to shape its future.
•
Employees
•
Owners
•
Board of Directors
© McGraw Hill
THE COMMUNITY OF STAKEHOLDERS
Figure 3.1.
Source: From Diverse
Teams at Work by Lee
Gardenswartz. Published
by the Society for Human
Resource Management.
© McGraw Hill
Access the text alternative for slide images.
THE COMMUNITY OF STAKEHOLDERS
OUTSIDE THE ORGANIZATION
The Task Environment
The General Environment
© McGraw Hill
11
THE TASK ENVIRONMENT
Task
environment
consists of 10
groups that
interact with
the
organization
on a regular
basis.
© McGraw Hill
• Customers
• Competitors
• Suppliers
• Distributors
• Strategic Allies
• Employee Organizations
• Local Communities
• Financial Institutions
• Government Regulators
• Special-Interest Groups
THE GENERAL ENVIRONMENT
•
•
•
© McGraw Hill
The general environment includes six forces:
economic, technological, sociocultural,
demographic, political–legal, and
international.
You may be able to control some forces in
the task environment, but you can’t control
those in the general environment.
As a manager you need to keep your eye on
the far horizon because these forces of the
general environment can affect long-term
plans and decisions.
THE GENERAL ENVIRONMENT:
FIGURE 3.2 STATES WHERE MARIJUANA IS LEGAL
Source: “State Medical Marijuana Laws,” National Conference
of State Legislatures, October 16, 2019, https://www.ncsl.org/
research/health/state-medical-marijuana-laws.aspx.
Access the text description for slide image.
© McGraw Hill
THE ETHICAL RESPONSIBILITIES
REQUIRED OF YOU AS A MANAGER
Defining Ethics and Values
Four Approaches to Resolving Ethical
Dilemmas
White-Collar Crime, SarbOx, and Ethical
Training
How Organizations Can Promote Ethics
© McGraw Hill
DEFINING ETHICS AND VALUES
Ethical standards may vary among countries and among cultures.
Six most common workplace behaviors that are considered ethical
misconduct.
•
Conflicts of interest
•
Abusive behaviors
•
Violations of health and safety regulations
•
Corruption
•
Discrimination
•
Sexual harassment
Values and value systems are the underpinnings for ethics and
ethical behavior.
© McGraw Hill
DEFINING ETHICS AND VALUES:
FIGURE 3.3 GLOBAL RATES OF UNETHICAL
WORKPLACE BEHAVIOR
Source: Ethics & Compliance Initiative, “2019 Global Business Ethics Survey: Workplace Misconduct and Reporting—a Global Look,” 2019,
https://43wli92bfqd 835mbif2ms9qz-wpengine .netdna-ssl.com/wp-content/ uploads/Global-Business-Ethics- Survey-2019-Third-Report-1.pdf.
Access text description for slide image.
© McGraw Hill
FOUR APPROACHES TO RESOLVING
ETHICAL DILEMMAS
The Utilitarian Approach:
•
For the Greatest Good
The Individual Approach:
•
For Your Greatest Self-Interest Long Term, Which Will
Help Others
The Moral-Rights Approach:
•
Respecting Fundamental Rights Shared by Everyone
The Justice Approach:
•
© McGraw Hill
Respecting Impartial Standards of Fairness
WHITE-COLLAR CRIME, SARBOX,
AND ETHICAL TRAINING
•
Executives’ deceits generated a
great deal of public outrage, and
as a result Congress passed the
Sarbanes-Oxley Act.
•
Sarbanes–Oxley Act established
requirements for proper financial
record keeping for public
companies.
•
It also requires companies to
have established procedures and
guidelines for audit committees.
© McGraw Hill
HOW ORGANIZATIONS CAN PROMOTE
ETHICS
Ethics needs to be an everyday affair, not a one-time
thing.
There are several ways an organization may promote high
ethical standards:
•
Creating a strong ethical climate
•
Screening prospective employees
•
Instituting ethics codes and training programs
•
Rewarding ethical behavior: protecting whistle-blowers
•
Using a multi-faceted approach
© McGraw Hill
THE SOCIAL RESPONSIBILITIES
REQUIRED OF YOU AS A MANAGER
Corporate Social Responsibility: The Top of the Pyramid
Is Social Responsibility Worthwhile? Opposing and
Supporting Viewpoints
One Type of Social Responsibility: Climate Change,
Sustainable Development, and Natural Capital
Another Type of Social Responsibility: Undertaking
Philanthropy, “Not Dying Rich”
Does Being Good Pay Off?
© McGraw Hill
CORPORATE SOCIAL RESPONSIBILITY:
THE TOP OF THE PYRAMID
Corporate social responsibility rests at the top of a
pyramid of a corporation’s obligations, right up there
with economic, legal, and ethical obligations.
The responsibilities of an organization in the global
economy should take the following priorities:
•
Be a good global corporate citizen.
•
Be ethical in its practices.
•
Obey the law.
•
Make a profit.
© McGraw Hill
CORPORATE SOCIAL RESPONSIBILITY:
THE TOP OF THE PYRAMID.
Figure 3.4 Carroll’s
global corporate social
responsibility pyramid.
Source: A. Carroll,
“Managing Ethically and
Global Stakeholders: A
Present and Future
Challenge,” Academy of
Management Executive,
May 2004, p. 116.
Access text description for slide image.
© McGraw Hill
IS SOCIAL RESPONSIBILITY WORTHWHILE?
OPPOSING AND SUPPORTING VIEWPOINTS
Against Social Responsibility:
•
Unless a company focuses on maximizing profits, it will become
distracted and fail to provide goods and services, benefit the
stockholders, create jobs, and expand economic growth.
•
This supports the efforts of companies to set up headquarters in
name only in offshore tax havens in order to minimize their tax
burden.
For Social Responsibility:
•
A company must be concerned for society’s welfare as well as for
corporate profits.
•
Beyond ethical obligation, the rationale for social responsibility is
the belief that it is good for business, morally appropriate, or
important to employees.
© McGraw Hill
ONE TYPE OF SOCIAL RESPONSIBILITY:
CLIMATE CHANGE, SUSTAINABLE
DEVELOPMENT, AND NATURAL CAPITAL
•
Nearly everyone is aware of the growing threat of climate change and global
warming.
•
Scientists say global warming is a “clear and unequivocal emergency”
and that without significant changes, the world will face “untold human
suffering.
•
Sustainable development, is economic development that meets the needs
of the present without compromising the ability of future generations to meet
their own needs.
© McGraw Hill
ANOTHER TYPE OF SOCIAL RESPONSIBILITY:
UNDERTAKING PHILANTHROPY,
“NOT DYING RICH”
•
•
•
© McGraw Hill
“He who dies rich dies thus disgraced”
(Andrew Carnegie)
The Bill and Melinda Gates Foundation,
has pledged to spend billions on health,
education, and overcoming poverty.
The Gateses have been joined by 169
other billionaires from 22 countries.
DOES BEING GOOD PAY OFF?
•
Indeed it pays to be ethical and socially
responsible.
•
An organization’s commitment to CSR
may be an important factor for you to
consider during job searches.
•
Supportive findings are shown in Table
3.1.
© McGraw Hill
CORPORATE GOVERNANCE
Corporate Governance and Ethics
•
Good corporate governance can contribute to more
ethical and socially responsible organizations.
•
CEO accountability, board composition, and CSR
contracting are important governance factors for
organizations and their boards to consider.
Corporate Governance and Social
Responsibility
•
Corporate governance is about such matters as long-term
strategies, sustainable finances, accurate reporting, and
positive work environment.
© McGraw Hill
FIGURE 3.5 CAREER READINESS
COMPETENCIES
Access text description for slide image.
© McGraw Hill
CAREER CORNER:
FOCUS ON THE GREATER GOOD
AND ON BEING MORE ETHICAL
Focus on the greater good and on being more ethical:
•
Reduce your carbon footprint.
•
Foster positive emotions in yourself and others.
•
Spend time in nature.
•
Get the proper amount of sleep.
•
Increase your level of exercise.
•
Expand your awareness of social realities.
•
Fulfill your promises and keep appointments.
•
Avoid people who lack integrity.
© McGraw Hill
CAREER CORNER:
BECOME AN ETHICAL CONSUMER
Purchase Fair Trade
items.
Don’t purchase items
that aren’t ethically
made or sourced.
Bring your own
grocery bags.
Don’t buy knockoffs.
© McGraw Hill
End of Main Content
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No reproduction or further distribution permitted without the prior written consent of McGraw Hill.
®
Because learning changes everything. ®
Week 3 (PPT3)
CHAPTER 5
Planning
The Foundation of
Successful Management
© 2022 McGraw Hill. All rights reserved. Authorized only for instructor use in the classroom.
No reproduction or further distribution permitted without the prior written consent of McGraw Hill.
Copyright © Olivier Renck / Getty Images
LEARNING OBJECTIVES
5-1 Discuss the role of strategic management.
5-2 Compare mission, vision, and value statements.
5-3 Discuss the types and purposes of goals and
plans.
5-4 Describe SMART goals and their implementation.
5-5 Outline the planning/control cycle.
5-6 Describe how to develop the career readiness
competency of proactive learning orientation.
© McGraw Hill, LLC
MANAGE U: START YOUR CAREER OFF RIGHT BY
PLANNING 1
SETTING GOALS AND MAKING A PLAN
1. Identify your options.
2. Explore conditions in your target field.
3. Create your action plan.
4. Track your progress.
© McGraw Hill, LLC
MANAGE U: START YOUR CAREER OFF RIGHT BY
PLANNING 2
STAYING RESILIENT DURING THE
PROCESS:
1.
Know that it takes time to find a job,
especially one that’s a good fit for both you
and the company that hires you.
2.
Create a budget to be sure your income
will cover your day-to-day expenses.
3.
Avoid making any major financial
commitments until you’ve actually landed
your target job and have a steady
paycheck.
© McGraw Hill, LLC
PLANNING AND STRATEGY
Planning, Strategy, and Strategic
Management
Why Planning and Strategic
Management are Important
© McGraw Hill, LLC
PLANNING, STRATEGY, AND STRATEGIC
MANAGEMENT
Planning: Coping with Uncertainty
Strategy: Setting Long-Term Direction
Strategic Management: Involving All
Managers in Strategy
© McGraw Hill, LLC
PLANNING AND STRATEGIC MANAGEMENT
Access alternative text for slide images.
© McGraw Hill, LLC
WHY PLANNING AND STRATEGIC MANAGEMENT
ARE IMPORTANT
Providing Direction and Momentum
Encouraging New Ideas
Developing a Sustainable Competitive
Advantage
© McGraw Hill, LLC
DEVELOPING A SUSTAINABLE COMPETITIVE
ADVANTAGE
Competitive
advantage:
• The ability of an
organization to
produce goods or
services more
effectively than its
competitors do,
thereby outperforming
them.
Sustainable
competitive advantage:
• Occurs when an
organization is able to
get and stay ahead in
four areas:
1.In being responsive to
customers
2.In innovating
3.In quality
4.In effectiveness
© McGraw Hill, LLC
FUNDAMENTALS OF PLANNING
Mission, Vision, and Values Statements
Three Types of Planning for Three Levels of
Management: Strategic, Tactical, and
Operational
© McGraw Hill, LLC
MAKING PLANS
Figure 5.2
Access alternative text for slide image.
© McGraw Hill, LLC
MISSION, VALUES, AND VALUES STATEMENTS
The Mission Statement:
“What Is Our Reason for Being?”
The Vision Statement:
“What Do We Want to Become?”
The Values Statement:
“What Values Do We Want to Emphasize?”
© McGraw Hill, LLC
THREE TYPES OF PLANNING FOR THREE LEVELS OF
MANAGEMENT: STRATEGIC, TACTICAL, AND
OPERATIONAL
Figure 5.3
Access the text alternative for slide images.
© McGraw Hill, LLC
GOALS AND PLANS
Long-Term and Short-Term Goals
The Operating Plan and Action Plan
Plans Are Great, but . . .
© McGraw Hill, LLC
LONG-TERM AND SHORT-TERM GOALS
• A goal, also known as an objective, is a
specific commitment to achieve a
measurable result within a stated period of
time.
• Long-term goals are generally referred to
as strategic goals.
• Short-term goals are sometimes referred to
as tactical or operational goals, or just plain
goals.
© McGraw Hill, LLC
THE OPERATING AND ACTION PLANS
Operating Plan:
• A plan that breaks long-term output into shortterm targets or goals
• Turns strategic plans into actionable short-term
goals and action plans
Action Plan:
• Defines the course of action (the tactics) needed
to achieve a stated goal
• Contains a project date for completing the
desired activities for each tactic
© McGraw Hill, LLC
PLANS ARE GREAT, BUT…
•
Unless plans are effectively executed, they won’t
be worth more than the paper they are written
on.
•
A well-executed plan can spur growth and create
a competitive advantage.
© McGraw Hill, LLC
PROMOTING CONSISTENCIES IN GOALS: SMART
GOALS, MANAGEMENT BY OBJECTIVES, AND GOAL
CASCADING
SMART Goals
Management by Objectives: The Four-Step
Process for Motivating Employees
Cascading Goals: Making Lower-Level Goals
Align with Top Goals
The Importance of Deadlines
© McGraw Hill, LLC
SMART GOALS 1
Specific:
Goals should be stated in specific terms.
Measurable:
Goals should be measurable or quantifiable.
Attainable:
Goals should be realistic.
Results-oriented:
Goals should support the organization’s vision.
Target Date:
Goals should have deadline dates for attainment.
© McGraw Hill, LLC
SMART GOALS 2
SMART GOAL
NOT-SO-SMART GOAL
Increase sales revenue by
15% across by the end of the
quarter.
Increase sales revenue.
© McGraw Hill, LLC
SMART GOALS 3
Figure 5.4
Source: Adapted from E.A.
Locke and G.P. Latham, A
Theory of Goal Setting and Task
Performance (Englewood Cliffs,
NJ: Prentice Hall, 1990).
Access alternative text for slide image.
© McGraw Hill, LLC
MANAGEMENT BY OBJECTIVES: THE FOUR-STEP
PROCESS FOR MOTIVATING EMPLOYEES
•
•
•
•
Jointly set objectives.
Develop an action plan.
Periodically review performance.
Give performance appraisal and rewards.
© McGraw Hill, LLC
IT IS BEST TO CASCADE GOALS
ORGANIZATIONWIDE
Top management and middle management
must be committed.
The goals must be applied organization wide.
Goals must cascade—be linked consistently
down through the organization.
© McGraw Hill, LLC
THE IMPORTANCE OF DEADLINES
•
Deadlines can help concentrate the mind.
•
Deadlines help you ignore extraneous matters in
favor of what’s important.
•
Deadlines provide a mechanism for giving
ourselves feedback.
© McGraw Hill, LLC
THE PLANNING/CONTROL CYCLE
Figure 5.5
Source: Robert Kreitner, Management, 8th edition.
© McGraw Hill, LLC
Access the text alternative for slide images.
CAREER CORNER: MANAGING YOUR CAREER
READINESS
Becoming More Proactive
Keeping an Open Mind and Suspending
Judgement
© McGraw Hill, LLC
CAREER CORNER: CAREER READINESS
COMPETENCIES
Access alternative text for slide image.
© McGraw Hill, LLC
BECOMING MORE PROACTIVE
•
Focus on solutions rather than problems.
•
Take initiative and rely on yourself.
•
Set realistic goals and don’t overpromise.
•
Participate and contribute to personal and
professional conversations.
© McGraw Hill, LLC
KEEPING AN OPEN MIND AND SUSPENDING
JUDGEMENTS
Step 1: Make a list of your current tasks, projects,
or commitments at school or work.
Step 2: For each task listed in step one, identify the
key moments it would be important to be openminded and suspend judgment.
Step 3: For each of these moments, think of how
you might apply the four key skills of being open
minded.
•
•
•
•
© McGraw Hill, LLC
Question your beliefs.
Pause and seek feedback.
Watch for communication blocks.
Check the accuracy of your past judgments and predictions.
End of Main Content
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®
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Week 4 (PPT4A)
CHAPTER 6
STRATEGIC
MANAGEMENT
How Exceptional Managers
Realize a Grand Design
© 2022 McGraw Hill. All rights reserved. Authorized only for instructor use in the classroom.
No reproduction or further distribution permitted without the prior written consent of McGraw Hill.
©Olivier Renck/ Getty Images
LEARNING OBJECTIVES
6-1 Identify the three principles underlying strategic
positioning.
6-2 Outline the five steps in the strategic-management
process.
6-3 Explain how an organization assesses the competitive
landscape.
6-4 Explain the three methods of corporate-level strategy.
6-5 Discuss Porter’s and Welch’s techniques for formulating
a business-level strategy.
6-6 Describe how to create, execute, and control a
functional-level strategy.
6-7 Describe how to enhance your strategic thinking.
© McGraw Hill
MANAGE U – YOUR PERSONAL BRAND
REQUIRES A STRATEGY
•
•
Why You Need a Personal Brand
How to Create Your Brand:
•
Identify the core message of your brand.
•
Write a personal branding statement.
•
Develop a social media strategy.
•
Start networking.
© McGraw Hill
STRATEGIC POSITIONING AND LEVELS OF
STRATEG
Strategic Positioning and Levels of Strategy
Levels of Strategy
Does Strategic Management Work for Small as Well
as Large Firms?
© McGraw Hill
STRATEGIC POSITIONING AND ITS PRINCIPLES
Strategic positioning attempts to achieve sustainable
competitive advantage by preserving what is distinctive
about a company.
Strategy is the creation of a unique and valuable position.
• Few needs, many customers
• Broad needs, few customers
• Broad needs, many customers
Strategy requires trade-offs in competing.
Strategy involves creating a “fit” among activities.
© McGraw Hill
LEVELS OF STRATEGY
• Corporate-Level Strategy
• Business-Level Strategy
• Functional-Level Strategy
© McGraw Hill
FIGURE 6.1 THREE LEVELS OF STRATEGY
Access text alternate for slide images.
© McGraw Hill
DOES STRATEGIC MANAGEMENT WORK FOR SMALL
AS WELL AS LARGE FIRMS?
• Evidence reveals that the use of strategic
management techniques and processes is
associated with increased small business
performance.
• Surprisingly, however, many small business
owners do not engage in strategic planning.
© McGraw Hill
FIGURE 6.2 THE STRATEGIC-MANAGEMENT
PROCESS
Access the text alternative for slide images.
© McGraw Hill
THE STRATEGIC-MANAGEMENT PROCESS
The Five Steps of the Strategic-Management Process:
1. Establish the Mission, Vision, and Values Statements
2. Assess the Current Reality
3. Formulate Corporate, Business, and Functional Strategies
4. Strategic Implementation: Execute the Strategies
5. Maintain Strategic Control: The Feedback Loop
© McGraw Hill
ASSESSING THE CURRENT REALITY
SWOT Analysis
Using VRIO to Assess Competitive Potential: Value,
Rarity, Imitability, and Organization
Forecasting: Predicting the Future
Benchmarking: Comparing the Best
© McGraw Hill
SWOT ANALYSIS
SWOT analysis is a good first step at gaining insight
into whether or not a company has competitive
advantage.
SWOT analysis is a situational analysis in which a
company assesses its strengths, weaknesses,
opportunities, and threats.
• Internal Environment: Analysis of internal strengths and
weaknesses
• External Environment: Analysis of external opportunities
and threats
© McGraw Hill
FIGURE 6.3 SWOT ANALYSIS
SWOT stands for Strengths, Weaknesses,
Opportunities, and Threats.
Access alternate text for slide images.
© McGraw Hill
USING VRIO TO ASSESS COMPETITIVE POTENTIAL:
VALUE, RARITY, IMITABILITY, AND ORGANIZATION
• VRIO (pronounced by its
letters, “V-R-I-O”) is a
framework for analyzing a
resource or capability to
determine its competitive
strategic potential by
answering four questions
about its value, rarity,
imitability, and
organization
Access text alternate for slide image.
© McGraw Hill
FIGURE 6.4.
Is the resource or
capability . . .
Source: Adapted
from F. T.
Rothaermel,
Strategic
Management:
Concepts and
Cases (New York:
McGraw-Hill
Education, 2012),
p. 91
FORECASTING: PREDICTING THE FUTURE
• Trend Analysis
• Contingency Planning: Predicting Alternative
Futures
© McGraw Hill
BENCHMARKING: COMPARING WITH THE BEST
FIGURE 6.5 Airline benchmarks, 2019
Source: Based on S.
McCartney, “The Best and
Worst U.S. Airlines of 2019,”
The Wall Street Journal,
January 15, 2020,
https://www.wsj.com/articles/
the-best-and-worst-u-sairlines-of-201911579097301?mod=searchre
sults&page=1&pos=3.
© McGraw Hill
Access alternate text for slide image.
ESTABLISHING CORPORATE-LEVEL STRATEGY
Three Overall Types of Corporate Strategy
The BCG Matrix
Diversification Strategy
© McGraw Hill
Three Overall Types of Corporate Strategy
Growth strategy:
• Involves expansion, as in sales revenues, market share,
number of employees, or number of customers.
Stability:
• Involves little or no significant change.
Defensive:
• Involves reduction in the organization’s efforts.
• Retrenchment
© McGraw Hill
THE BCG MATRIX
FIGURE 6.6. The BCG
matrix. Matrix growth is
divided into two
categories, low and high.
Market share also is
divided into low and high.
Thus, in this matrix, “stars”
are business unites that
are highly desirable (high
growth, high market
share), compared to
“dogs,” which are not so
desirable (low growth, low
market share).
Access the text alternative for slide images.
© McGraw Hill
THE DIVERSIFICATION STRATEGY
• Companies generally diversify to either grow
revenue or reduce risk.
• They grow revenue because the company now
has new products and services to sell.
© McGraw Hill
ESTABLISHING BUSINESS-LEVEL STRATEGY
• Porter’s Five Competitive Forces
• Porter’s Four Competitive Strategies
• An Executive’s Approach toward Strategy
Development
© McGraw Hill
PORTER’S FIVE COMPETITIVE FORCES
Porter contends that business-level strategies
originate in five primary competitive forces in the
firm’s environment:
1. Threat of new entrants
2. Bargaining power of suppliers
3. Bargaining power of buyers
4. Threats of substitute products or services
5. Rivalry among competitors
© McGraw Hill
PORTER’S FOUR COMPETITIVE STRATEGIES
• Cost-Leadership Strategy: Keeping costs and
prices low for a wide market
• Differentiation Strategy: Offering unique and
superior value for a wide market
• Cost-Focus Strategy: Keeping costs and prices
low for a narrow market
• Focused-Differentiation Strategy: Offering unique
and superior value for a narrow market
© McGraw Hill
AN EXECUTIVE’S APPROACH TOWARD STRATEGY
DEVELOPMENT
• What does the playing field look like now?
• What has the competition been up to?
• What have you been up to?
• What’s around the corner?
• What’s your winning move?
© McGraw Hill
STRATEGIC IMPLEMENTATION: CREATING,
EXECUTING, AND CONTROLLING
FUNCTIONAL-LEVEL STRATEGIES
Strategic Implementation: Creating, Executing, and
Controlling Functional-Level Strategies
Execution: Getting Things Done
The Three Core Processes of Business: People,
Strategy, and Operations
Execution Roadblocks
Maintaining Strategic Control
© McGraw Hill
STRATEGIC IMPLEMENTATION: CREATING,
EXECUTING, AND CONTROLLING FUNCTIONALLEVEL STRATEGIES
• Higher-level corporate- and business-level
strategies flow down to the functional strategy.
• This is similar to goal cascading, which ensures
that higher-level goals are communicated and
aligned with the goals at the next levels down in
the organizational hierarchy.
• Typical functional areas include marketing,
finance, human resources, operations,
information technology, and distribution.
© McGraw Hill
EXECUTION: GETTING THINGS DONE
FIGURE 6.7. An
example of
strategic
implementation
at Kroger.
Access text alternate for slide image.
© McGraw Hill
THE THREE CORE PROCESSES OF BUSINESS:
PEOPLE, STRATEGY, AND OPERATIONS
A company’s overall ability to execute is a function
of effectively executing according to three
processes: people, strategy, and operations.
1. The First Core Process—People: “You need to
consider who will benefit you in the future.”
2. The Second Core Process—Strategy: “You need to
consider how success will be accomplished.”
3. The Third Core Process—Operations: “You need to
consider what path will be followed.”
© McGraw Hill
EXECUTION ROADBLOCKS
Execution doesn’t always go smoothly and
managers may face obstacles to strategic
implementation for many different reasons.
•
Overcoming roadblocks in the C-suite
•
Overcoming roadblocks down the hierarchy
© McGraw Hill
MAINTAINING STRATEGIC CONTROL
•
•
•
•
Engage people.
Keep it simple.
Stay focused.
Keep moving.
© McGraw Hill
CAREER CORNER: MODEL OF CAREER READINESS
FIGURE 6.8. Career readiness competencies.
Access alternate text for slide image.
© McGraw Hill
CAREER CORNER:
MANAGING YOUR CAREER READINESS
Understand the business.
• Understand a potential or current employer’s business and
strategies.
• Extend your knowledge by networking, seeking mentoring,
participating in a job rotation, and attend cross-functional or
business meetings.
Broaden your task and functional knowledge.
• Make connections between concepts, ideas, people, and events.
© McGraw Hill
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®
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Week 4 (PPT4B)
LEARNING
MODULE 1
Shared Value and
Sustainable Development:
A New Way to Think about
Leading and Managing
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No reproduction or further distribution permitted without the prior written consent of McGraw Hill.
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LEARNING OBJECTIVES
LM 1-1 Describe how the concept of creating shared
value improves upon the traditional approach
to corporate social responsibility.
LM 1-2 Discuss the roles various stakeholders play in
creating shared value.
LM 1-3 Explain recommendations for creating shared
value in light of current progress and
challenges.
© McGraw Hill
MANAGE U: CONTRIBUTING TO A MORE
SUSTAINABLE FUTURE
1.
Things you can do from your couch
2.
Things you can do at home
3.
Things you can do outside your house
4.
Things you can do at work
© McGraw Hill
FROM CORPORATE SOCIAL RESPONSIBILITY
TO CREATING SHARED VALUE
Traditional CSR
Creating Shared Value (CSV)
A Model of Shared Value Creation
How CSR and CSV Are Fundamentally
Different
© McGraw Hill
TRADITIONAL CSR 1
Does Traditional CSR Run Counter to
Shareholders’ Interests?
• How does CSR align with Friedman’s
perspective?
• CSR as a “necessary expense”
• The myth of the “fixed pie” of value
© McGraw Hill
TRADITIONAL CSR 2
Moving Beyond the “Fixed Pie” Perspective.
• Firms do not need to “give up” a portion of
shareholder wealth in order to be socially
responsible.
• Maximizing shareholder wealth and increasing
social benefit are not mutually exclusive.
• This is the essence of Creating Shared Value
(CSV)….
© McGraw Hill
CREATING SHARED VALUE (CSV) 1
Implementing policies and operating practices
that enhance the competitiveness of a
company while simultaneously advancing the
economic and social conditions in the
communities in which it operates
© McGraw Hill
CREATING SHARED VALUE (CSV) 2
CSV Generates Sustainable Competitive
Advantages.
• CSV moves CSR from a way organizations use
profits to a way organizations make profits.
• Organizations should pursue only those CSV
opportunities that are aligned with firm strategy.
© McGraw Hill
CREATING SHARED VALUE (CSV) 3
CSV Is Gaining Traction.
• Fortune’s annual Change the World list
© McGraw Hill
A MODEL OF CREATING SHARED VALUE (CSV)
Figure LM 1.1
Access alternate texts for the slide image.
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A MODEL OF SHARED VALUE CREATION 1
Key Processes for
Creating Shared Value:
1. Discovery of new
products, markets,
and opportunities
2. Transformation of the
value chain
3. Development of
supportive local
clusters
© McGraw Hill
A MODEL OF SHARED VALUE CREATION 2
Dynamic Inputs:
1. Consideration of societal
benefits, harms, and
needs associated with the
firm’s products/services
2. Consideration of societal
benefits, harms, and
needs associated with the
firm’s value chain
3. Identification of constraints
to productivity/growth in
the firm’s geographic
region
© McGraw Hill
HOW CSR AND CSV
ARE FUNDAMENTALLY DIFFERENT
Scope
Alignment with core business strategy
© McGraw Hill
THE ROLES OF VARIOUS STAKEHOLDERS IN
CSV
Global Collaboration: The Role of the United Nations
The Role of Businesses, Big and Small
The Role of Entrepreneurs
The Role of Business Schools
© McGraw Hill
GLOBAL COLLABORATION:
THE ROLE OF THE UNITED NATIONS 1
193 member countries agreed to adopt a
set of 17 Sustainable Development
Goals
(SDGs-see figure LM 1.2)
© McGraw Hill
UN SUSTAINABLE DEVELOPMENT GOALS
1. No poverty
10. Reduced inequalities
2. Zero hunger
11. Sustainable cities and
communities
3. Good health and well-being
4. Quality education
5. Gender equality
6. Clean water and sanitation
7. Affordable and clean
energy
12. Responsible consumption
and production
13. Climate action
14. Life below water
15. Life on land
8. Decent work and economic
growth
16. Peace, justice, and strong
institutions
9. Industry innovation and
infrastructure
17. Partnerships for these goals
© McGraw Hill
Source: Based on material in “About the Sustainable Development Goals,”
the United Nations,
https://www.un.org/sustainabledevelopment/sustainable-developmentgoals/.
GLOBAL COLLABORATION:
THE ROLE OF THE UNITED NATIONS 2
The SDGs Are an Opportunity for CSV.
• Key stakeholders working together
• CSV is the key to achieving the SDGs
• Tremendous market potential
© McGraw Hill
GLOBAL COLLABORATION:
THE ROLE OF THE UNITED NATIONS 3
Private-Sector Involvement Is Critical for
Achieving the SDGs.
• The SDGs were designed specifically to
enlist businesses.
• Private sector has necessary resources and
capabilities.
© McGraw Hill
THE ROLE OF BUSINESSES, BIG AND SMALL 1
Big Businesses:
• Big businesses are influencers.
• Big businesses can mobilize big solutions.
© McGraw Hill
THE ROLE OF BUSINESSES, BIG AND SMALL 2
Small Businesses:
• Account for 90% of world economic activity
• Essential for shared value and sustainable
development
© McGraw Hill
THE ROLE OF ENTREPRENEURS 1
Entrepreneurs’ environments are less
constrained.
• Agility
• The problem of inertia in big business
© McGraw Hill
THE ROLE OF ENTREPRENEURS 2
Entrepreneurs possess important traits.
• Creativity
• Risk Propensity
© McGraw Hill
THE ROLE OF BUSINESS SCHOOLS 1
Business Schools Take Varied Approaches
to Teaching Shared Value.
1. Coursework
2. Experiential Learning
3. Certificate and degree programs
4. Cultural infusion
© McGraw Hill
THE ROLE OF BUSINESS SCHOOLS 2
Your Knowledge of CSV and the SDGs
Enhances Your Career Readiness.
• Understanding the business
• Proactive learning orientation
© McGraw Hill
PROGRESS, CHALLENGES, AND
RECOMMENDATIONS for CSV
Areas of Progress:
Areas of Concern:
• Awareness of and
engagement with
CSV and the
SDGs
• More of the same
• Progress toward
specific goals
• Misalignment with
strategy
© McGraw Hill
• Lack of
commitment at the
top
RECOMMENDATIONS FOR TRANSITIONING TO
A SHARED-VALUE MINDSET 1
Set Priorities to Overcome Problems with
Strategic Alignment.
• Managers should prioritize opportunities for
CSV.
• Maximize impact in ways that are a good fit
for your business.
© McGraw Hill
RECOMMENDATIONS FOR TRANSITIONING TO
A SHARED-VALUE MINDSET 2
Encourage a Long-Term Mindset to Gain
Support across the Organization.
• Designate special-purpose funds.
• Reconfigure executive compensation.
© McGraw Hill
RECOMMENDATIONS FOR TRANSITIONING TO
A SHARED-VALUE MINDSET 3
Break Out of Old Routines by Thinking
Bigger.
• Managers can no longer see their firms as
isolated from their larger environments.
• Consider the organization in relation to its
ecosystem.
• Collaboration is critical.
© McGraw Hill
CONCLUSION
“Businesses can do well while
simultaneously
doing good.”
© McGraw Hill
End of Main Content
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®
Because learning changes everything. ®
Week 5 (PPT5A)
CHAPTER 7
INDIVIDUAL AND
GROUP DECISION
MAKING
How Managers Make Things
Happen
© 2022 McGraw Hill. All rights reserved. Authorized only for instructor use in the classroom.
No reproduction or further distribution permitted without the prior written consent of McGraw Hill.
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LEARNING OBJECTIVES
7-1 Compare rational and nonrational decision making.
7-2 Explain how managers can make decision that are both
legal and ethical.
7-3 Describe how evidence-based management and
business analytics contribute to decision making.
7-4 Describe how artificial intelligence is used in decision
making.
7-5 Compare four decision-making styles.
7-6 Identify barriers to rational decision making and ways to
overcome them.
7-7 Outline the basics of group decision making.
7-8 Describe how to develop the career readiness
competencies of critical thinking/problem solving and
decision making.
© McGraw Hill
MANAGE U – HOW TO MAKE GOOD DECISIONS
• Keep Your Mind Open
• Prioritize Your Decisions
• Move On from Your Mistakes
• Practice Mindfulness
© McGraw Hill
TWO KINDS of DECISION MAKING:
RATIONAL AND NONRATIONAL
Rational Decision Making: Managers Should Make
Logical and Optimal Decisions
• Stage 1: Identify the Problem or Opportunity—Determining the
Actual versus the Desirable
• Stage 2: Think Up Alternative Solutions—Both the Obvious and
the Creative
• Stage 3: Evaluate Alternatives and Select a Solution—Ethics,
Feasibility, and Effectiveness
• Stage 4: Implement and Evaluate the Solution Chosen
What’s Wrong with the Rational Model?
Nonrational Decision Making: Managers Find It
Difficult to Make Optimal Decisions
© McGraw Hill
RATIONAL DECISION MAKING: MANAGERS SHOULD
MAKE LOGICAL AND OPTIMAL DECISIONS
Figure 7.1 The Four Stages in Rational Decision
Making
© McGraw Hill
STAGE 1: IDENTIFY THE PROBLEM OR
OPPORTUNITY—DETERMINING THE ACTUAL
VERSUS THE DESIRABLE
•
As a manager, you’ll probably find no shortage
of problems.
•
You also will often find opportunities.
•
Whether you’re confronted with a problem or an
opportunity, the decision you’re called on to
make is how to make improvements.
© McGraw Hill
STAGE 2: THINK UP ALTERNATIVE SOLUTIONS—
BOTH THE OBVIOUS AND THE CREATIVE
•
Employees burning with bright ideas are an
employer’s greatest competitive resource.
•
After you’ve identified the problem or
opportunity and diagnosed its causes, you need
to come up with alternative solutions.
© McGraw Hill
STAGE 3: EVALUATE ALTERNATIVES AND SELECT A
SOLUTION—ETHICS, FEASIBILITY, AND
EFFECTIVENESS
•
•
•
© McGraw Hill
In this stage, you need to evaluate each
alternative not only according to cost and
quality.
Today, the task of evaluating alternatives is
facilitated by the use of big data and artificial
intelligence.
Recent research confirms that firms can make
better decisions if they utilize these tools in the
decision-making process.
STAGE 4: IMPLEMENT AND EVALUATE THE
SOLUTION CHOSEN
•
With some decisions, implementation is usually
straightforward.
•
With other decisions, implementation can be
quite difficult; when one company acquires
another, for instance, it may take months.
© McGraw Hill
WHAT’S WRONG WITH THE RATIONAL MODEL?
TABLE 7.1 Assumptions of the Rational Model
Complete information, no uncertainty: You should obtain complete , errorfree information about all alternative courses of action and the consequences
that would follow from each choice.
Logical, unemotional analysis: Having no prejudices or emotional blind
spots, you are able to logically evaluate the alternatives, raking them from
best to worst according to your personal preferences.
Best decision for the organization: Confident of the best future course of
action, you coolly choose the alternative that you believe will most benefit the
organization.
© McGraw Hill
NONRATIONAL DECISION MAKING: MANAGERS FIND
IT DIFFICULT to MAKE OPTIMAL DECISIONS 1
Bounded Rationality, Hubris, and the Satisficing Model: “Satisfactory Is Good Enough”
Hindrance
Description
Complexity
The problems that need solving are often exceedingly complex, beyond
understanding.
Time and money
constraints
There is not enough money to gather all relevant information.
Different cognitive
capacity, values, skills,
habits, and unconscious
reflexes
Managers aren’t all built the same way, of course, and all have personal
limitations and biases that affect their judgment.
Imperfect information
Managers have imperfect, fragmentary information about the alternatives
and their consequences.
Information overload
There is too much information for one person to process.
Different priorities
Some data are considered more important, so certain facts are ignored.
Conflicting goals
Other managers, including colleagues, have conflicting goals.
FIGURE 7.1: Some hindrances to perfectly rational decisions making.
© McGraw Hill
NONRATIONAL DECISION MAKING: MANAGERS FIND
IT DIFFICULT to MAKE OPTIMAL DECISIONS 2
•
•
•
•
© McGraw Hill
The Intuition Model: “It Just Feels Right”
Small entrepreneurs often can’t afford in-depth
marketing research and so they make decisions
based on hunches.
Intuition that stems from expertise—a person’s
explicit and tacit knowledge about a person, a
situation, an object, or a decision opportunity—
is known as a holistic hunch.
Intuition based on feelings—the involuntary
emotional response to those same matters—is
known as automated experience.
MAKING ETHICAL DECISIONS
The Dismal Record of Business Ethics
Road Map to Ethical Decision Making: A Decision
Tree
© McGraw Hill
THE DISMAL RECORD OF BUSINESS ETHICS
• According to a
recent study the top
reason for CEO
departures among
America’s largest
companies is
unethical behavior.
FIGURE 7.3 Reasons for CEO
departures. Source: Data based on J.
Green, “CEOs Fired for Ethical
Lapses Hit New High as Complaints
Soared,” Bloomberg, May 15, 2019,
https:// www.bloomberg.com/news/
articles/2019-05-15/ceos-fired-forethical-lapses-hit-new-high-ascomplaints-soared.
© McGraw Hill
Access text alternative for slide image.
ROAD MAP TO ETHICAL DECISION MAKING: A
DECISION TREE
When confronted with any proposed action for
which a decision is required, a manager works
through the decision tree by asking the following
questions:
• Is the proposed action legal?
• If “yes,” does the proposed action maximize
shareholder value?
• If “yes,” is the proposed action ethical?
• If “no,” would it be ethical not to take the proposed
action?
© McGraw Hill
FIGURE 7.4 THE ETHICAL DECISION TREE: WHAT’S
THE RIGHT THING TO DO?
Source: Constance E. Bagley, “The Ethical Leader’s Decision Tree,” Harvard Business School Publishing Corporation,
February 2003, https://hbr.org/2003/02/the-ethical-leaders-decision-tree.
Access text alternate for slide image.
© McGraw Hill
EVIDENCE-BASED DECISION MAKING AND DATA
ANALYTICS
Evidence-Based Decision Making
In Praise of Data Analytics
Big Data: What It Is, How It’s Used
© McGraw Hill
EVIDENCE-BASED DECISION MAKING
Seven Implementation Principles:
1.
Treat your organization as an unfinished prototype.
2.
No brag, just facts.
3.
See yourself and your organization as outsiders do.
4.
Evidence-based management is not just for senior
executives.
5.
Like everything else, you still need to sell it.
6.
If all else fails, slow the spread of bad practice.
7.
The best diagnostic question: What happens when people fail?
What Makes It Hard to Be Evidence Based?
© McGraw Hill
IN PRAISE OF DATA ANALYTICS
•
•
© McGraw Hill
Data analytics is increasingly done with
specialized systems and software.
Some leaders and firms have become
exceptional practitioners of data analytics.
BIG DATA: WHAT IT IS, HOW IT’S USED
•
•
•
•
•
•
•
© McGraw Hill
Big data is stores of data so vast that
conventional database management systems
cannot handle them.
Meeting customer needs
Improving human resource management
practices
Enhancing production efficiency
Advancing health and medicine
Aiding public policy
Using big data up and down the hierarchy
ARTIFICIAL INTELLIGENCE IS A POWERFUL
DECISION-MAKING RESOURCE
Types of AI
AI’s Benefits
AI’s Drawbacks
© McGraw Hill
TYPES OF AI
•
•
•
•
© McGraw Hill
You may think of AI as being a 21st-century–
based technology that is revolutionizing the way
we do things, but the thinking behind AI goes
back thousands of years.
Automated business processes
Data analysis
Engaging customers and employees
AI’S BENEFITS
•
•
•
•
© McGraw Hill
AI will transform the world as we know it.
Humans could be relieved of some of the
drudgery of work—and even some of the time
commitment today’s jobs often require.
Organizations continue to use AI to develop
competitive advantage.
Enhanced decision making is a thematic
benefit of AI.
AI’S DRAWBACKS
AI has a unique set of
challenges that must be
overcome.
•
AI implementation
•
Data issues
•
Cost
© McGraw Hill
• Weaponizing AI
• Will AI Replace Us?
FIGURE 7.5 BENEFITS OF AI
Source: Data based on J. Loucks, T.
Davenport, and D. Schatsky, “State of
AI in the Enterprise, 2nd Edition,”
Deloitte Insights, October 22, 2018,
https://www2.deloitte.com/us/en/insigh
ts/focus/ cognitive-technologies/stateof-ai-and-intelligent-automation-inbusiness-survey.html.
Access text alternative for slide image.
© McGraw Hill
FOUR GENERAL DECISION-MAKING STYLES
Value orientation and tolerance for ambiguity
1. The Directive Style: Action-Oriented Decision Makers Who
Focus on Facts
2. The Analytical Style: Careful Decision Makers Who Like Lots of
Information and Alternative Choices
3. The Conceptual Style: Decision Makers Who Rely on Intuition
and Have a Long-Term Perspective
4. The Behavioral Style: The Most People-Oriented Decision
Makers
Which Style Do You Have?
© McGraw Hill
VALUE ORIENTATION AND TOLERANCE FOR
AMBIGUITY
Value orientation: Some people are very taskfocused at work and do not pay much attention to
people issues, whereas others are just the opposite.
•
Ambiguity: the need for structure or control of
one’s life.
•
A high need for control or structure means a low
tolerance for ambiguity.
•
A low need for control or structure means a high
tolerance for ambiguity.
© McGraw Hill
FIGURE 7.6 DECISION-MAKING STYLES
Access alternative text for slide image.
© McGraw Hill
THE DIRECTIVE STYLE: ACTION-ORIENTED
DECISION MAKERS WHO FOCUS ON FACTS
•
•
© McGraw Hill
People with a directive style have a low
tolerance for ambiguity and are oriented toward
task and technical concerns in making
decisions.
They are efficient, logical, practical, and
systematic in their approach to solving
problems, and they are action oriented and
decisive and like to focus on facts.
THE ANALYTICAL STYLE: CAREFUL DECISION
MAKERS WHO LIKE LOTS OF INFORMATION AND
ALTERNATIVE CHOICES
•
•
•
© McGraw Hill
Managers with an analytical style have a much
higher tolerance for ambiguity and respond well
to new or uncertain situations.
Analytical managers like to consider more
information and alternatives than those adopting
the directive style.
They are careful decision makers who take
longer to make decisions, but they also tend to
overanalyze a situation.
THE CONCEPTUAL STYLE: DECISION MAKERS WHO
RELY ON INTUITION AND HAVE A LONG-TERM
PERSPECTIVE
• People with a conceptual style have a high tolerance for
ambiguity and tend to focus on the people or social
aspects of a work situation.
• They take a broad perspective to problem solving and like
to consider many options and future possibilities.
• Conceptual types adopt a long-term perspective and rely
on intuition and discussions with others to acquire
information.
• They also are willing to take risks and are good at finding
creative solutions to problems.
© McGraw Hill
THE BEHAVIORAL STYLE: THE MOST PEOPLEORIENTED DECISION MAKERS
• The behavioral style is the most people-oriented of the four
styles. People with this style work well with others and enjoy
social interactions in which opinions are openly exchanged.
• Behavioral types are supportive, are receptive to suggestions,
show warmth, and prefer verbal to written information.
• Although they like to hold meetings, some people with this style
have a tendency to avoid conflict and to be overly concerned
about others.
• This can lead them to adopt a wishy-washy approach to
decision making and to have a hard time saying no.
© McGraw Hill
WHICH STYLE DO YOU HAVE?
Know Thyself
Influence Others
Deal with Conflict
© McGraw Hill
DECISION-MAKING BIASES 1
Ten Common Decision-Making Biases: Rules of
Thumb, or “Heuristics”
© McGraw Hill
1.
The Availability Bias: Using only the information available
2.
The Representativeness Bias: Faulty generalizing from a
small sample or a single event
3.
The Confirmation Bias: Seeking information to support your
point of view
4.
The Sunk-Cost Bias: Money already spent seems to justify
continuing
5.
The Anchoring and Adjustment Bias: Being influenced by an
initial figure
DECISION-MAKING BIASES 2
6.
The Overconfidence Bias: Blind to Our Own Blindness
7.
The Hindsight Bias: The I-Knew-It-All-Along Effect
8.
The Framing Bias: Shaping the Way a Problem Is
Presented
9.
The Escalation of Commitment Bias: Feeling Overly
Invested in a Decision
10. The Categorical Thinking Bias: Sorting Information into
Buckets
© McGraw Hill
GROUP DECISION MAKING: HOW TO
WORK WITH OTHERS
Advantages and Disadvantages of Group Decision
Making
Groupthink
Characteristics of Group Decision Making
Group Problem-Solving Techniques: Reaching for
Consensus
More Group Problem-Solving Techniques
© McGraw Hill
ADVANTAGES AND DISADVANTAGES OF GROUP
DECISION MAKING
Advantages:
Disadvantages:
• Greater pool of
knowledge
• A few people dominate or
intimidate
• Different perspectives
• Groupthink
• Intellectual stimulation
• Satisficing
• Better understanding of
decision rationale
• Goal displacement
• Deeper commitment to
the decision
© McGraw Hill
GROUPTHINK
•
•

•
© McGraw Hill
Cohesiveness isn’t always good.
When it results in groupthink, group or team
members are friendly and tight-knit but unable to
think “outside the box.”
The results of groupthink can include failure to
consider new information and a loss of new
ideas.
CHARACTERISTICS OF GROUP DECISION MAKING
• They are less efficient.
• Their size affects decision
quality.
• They may be too
confident.
• Knowledge counts.
© McGraw Hill
GROUP PROBLEM-SOLVING TECHNIQUES:
REACHING FOR CONSENSUS
Do’s for achieving
consensus:
• Use active listening
skills.
• Involve as many
members as possible.
• Seek out the reasons
behind arguments and
dig for the facts.
© McGraw Hill
Don’ts for achieving
consensus:
• Avoid horse trading
and making an
agreement simply to
not rock the boat.
• Don’t try to achieve
consensus by putting
questions to a vote.
MORE GROUP PROBLEM-SOLVING TECHNIQUES
•
•
•
•
© McGraw Hill
Brainstorming: For Increasing Creativity.
Devil’s Advocacy.
The Dialectic Method.
Project Post-Mortems
FIGURE 7.7 DEVIL’S ADVOCATE AND THE DIALECTIC
METHOD
Source: From R. A. Castler
and R.C. Schwenk,
“Agreement and Thinking
Alike: Ingredients for Poor
Decisions,” Academy of
Management Executive,
February 1990, pp. 72–73.
Access text alternative for slide images.
© McGraw Hill
CAREER CORNER: FIGURE 7.8 MODEL OF CAREER
READINESS
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© McGraw Hill
CAREER CORNER
MANAGING YOUR CAREER READINESS
•
•
•
•
© McGraw Hill
Improving your critical-thinking and problemsolving skills.
Reflect on past decisions.
Establish a decision methodology.
Demonstrate these competencies during a job
interview.
End of Main Content
Because learning changes everything.
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No reproduction or further distribution permitted without the prior written consent of McGraw Hill.
®
Because learning changes everything. ®
Week 5 (PPT5B)
CHAPTER 13
GROUPS & TEAMS
Increasing Cooperation,
Reducing Conflict
© 2022 McGraw Hill. All rights reserved. Authorized only for instructor use in the classroom.
No reproduction or further distribution permitted without the prior written consent of McGraw Hill.
©Olivier Renck/ Getty Images
LEARNING OBJECTIVES
13-1 Identify the characteristics of groups and teams.
13-2 Describe the development of groups and teams.
13-3 Discuss ways managers can build effective teams.
13-4 Describe ways managers can deal successfully
with conflict.
13-5 Describe how to develop the career readiness
competency of teamwork/collaboration.
© McGraw Hill
MANAGING TEAM CONFLICT LIKE A PRO
• Acknowledge a Conflict Exists
• Ask a Lot of Questions
• Frame the Conflict around Behavior,
Not Personalities
• Remind Team Members about the
Group Norms
• Choose Your Words with Care
• Remember Conflict Can Be
Productive
© McGraw Hill
GROUPS VERSUS TEAMS
Groups and Teams: How Do They Differ?
Formal versus Informal Groups
Types of Teams
© McGraw Hill
GROUPS AND TEAMS: HOW DO THEY DIFFER?
• What a Group Is: A Collection of People
Performing as Individuals
• What a Team Is: A Collection of People with
Common Commitment
© McGraw Hill
FORMAL VERSUS INFORMAL GROUPS
• Groups can be either formal or informal.
• Formal groups—created to accomplish specific
goals
• Informal groups—created for friendship
© McGraw Hill
TYPES OF TEAMS
•
•
•
•
•
Work teams
Project teams
Cross-functional teams
Self-managed teams
Virtual teams
© McGraw Hill
STAGES OF GROUP AND TEAM DEVELOPMENT
Tuckman’s Five-Stage Model
Punctuated Equilibrium
© McGraw Hill
TUCKMAN’S FIVE-STAGE MODEL
• Stage 1: Forming—“Why are we here?”
• Stage 2: Storming—“Why are we fighting over
who’s in charge and who does what?”
• Stage 3: Norming—“Can we agree on roles and
work as a team?”
• Stage 4: Performing—“Can we do the job
properly?”
• Stage 5: Adjourning—“Can we help members
transition out?”
• Is Tuckman’s model accurate?
© McGraw Hill
FIGURE 13.1 FIVE STAGES OF GROUP AND TEAM
DEVELOPMENT
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© McGraw Hill
PUNCTUATED EQUILIBRIUM
• Groups don’t always follow the distinct stages of
Tuckman’s model.
• Punctuated equilibrium establishes periods of
stable functioning until an event causes a
dramatic change in norms, roles, and/or
objectives.
• Punctuated equilibrium often occurs in the wake
of unexpected change.
© McGraw Hill
BUILDING EFFECTIVE TEAMS 1
Collaboration—the Foundation of Teamwork
Trust: “We Need to Have Reciprocal Faith in Each
Other.”
Performance Goals and Feedback
Motivation through Mutual Accountability and
Interdependence
Team Composition
© McGraw Hill
BUILDING EFFECTIVE TEAMS 2
Roles: How Team Members Are Expected to Behave
Norms: Unwritten Rules for Team Members
Effective Team Processes
Putting It All Together
© McGraw Hill
MANAGING CONFLICT
The Nature of Conflict: Disagreement Is Normal
Can Too Little or Too Much Conflict Affect
Performance?
Four Kinds of Conflict: Personality, Envy, Intergroup,
and Cross-Cultural
How to Stimulate Constructive Conflict
Leading Career Readiness Competencies to Help
You to Better Handle Conflict
Dealing with Disagreements: Five Conflict-Handling
Styles
© McGraw Hill
THE NATURE OF CONFLICT: DISAGREEMENT IS
NORMAL
• Conflict is simply disagreement, a perfectly
normal state of affairs.
• Dysfunctional conflict (bad) and functional conflict
(good)
© McGraw Hill
CAN TOO LITTLE OR TOO MUCH CONFLICT AFFECT
PERFORMANCE?
• Too little conflict—inactivity
• Too much conflict—warfare
Figure 13.3 The relationship between intensity of conflict and performance outcomes.
Sources: Derived from L. D. Brown, Managing Conflict at Organizational Interfaces (Englewood Cliffs, NJ: Prentice- Hall, 1983).
Access alternate text for slide image.
© McGraw Hill
FOUR KINDS of CONFLICT: PERSONALITY, ENVY,
INTERGROUP, and CROSS-CULTURAL
1. Personality Conflicts: clashes because of
personal dislikes or disagreements
2. Envy-based Conflicts: clashes because of what
others have
3. Intergroup Conflicts: clashes among work
groups, teams, and departments
4. Cross-Cultural Conflicts: clashes between
cultures
© McGraw Hill
HOW TO STIMULATE CONSTRUCTIVE CONFLICT
• Spur competition among employees
• Change the organization’s culture and
procedures
• Bring in outsiders for new perspectives
• Use programmed conflict: devil’s advocacy and
the dialectic method
© McGraw Hill
CAREER READINESS COMPETENCIES to HELP YOU
to BETTER HANDLE CONFLICT
•
•
•
•
•
Teamwork/collaboration
Social intelligence
Openness to change
Emotional intelligence
Oral/written communication
© McGraw Hill
DEALING WITH DISAGREEMENTS: FIVE CONFLICTHANDLING STYLES
•
•
•
•
•
Avoiding
Obliging
Dominating
Compromising
Integrating
© McGraw Hill
CAREER CORNER: MANAGING YOUR CAREER
READINESS
• Become a More Effective Team Member
• Become a More Effective Collaborator
© McGraw Hill
CAREER CORNER: MODEL OF CAREER READINESS
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Week 6 (PPT6)
CHAPTER 8
ORGANIZATIONAL
CULTURE,
STRUCTURE, &
DESIGN
© 2022 McGraw Hill. All rights reserved. Authorized only for instructor use in the classroom.
No reproduction or further distribution permitted without the prior written consent of McGraw Hill.
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LEARNING OBJECTIVES
8-1 Explain why managers need to align organizational
culture, structure, and HR practices to support strategy.
8-2 Explain how to characterize an organization’s culture.
8-3 Describe the process of culture change in an
organization.
8-4 Identify the major features of an organization and
explain how they are expressed in an organization chart.
8-5 Describe the eight types of organizational structure.
8-6 Explain how to use the career readiness competencies
of understanding the business and personal adaptability
to better understand and change your level of fit with an
organization.
© McGraw Hill
HOW TO GET NOTICED IN A NEW JOB: FITTING INTO
AN ORGANIZATION’S CULTURE IN THE FIRST 60
DAYS
• Be Aware of the Power of First
Impressions
• See How People Behave by Arriving
Early and Staying Late
• Network with People and Ask
Questions about How the
Organization Works
• Seek Advice Instead of Feedback
• Overdeliver
© McGraw Hill
ALIGNING CULTURE, STRUCTURE, AND HUMAN
RESOURCE (HR) PRACTICES TO SUPPORT
STRATEGY
How an Organization’s Culture, Structure, and HR Practices
Support Strategic Implementation
You can think of an
organization’s culture,
structure, and HR
practices as three
strands in a single rope.
These strands must be
tightly woven together to
drive successful strategic
execution.
© McGraw Hill
Kyoshino/Getty Images
HOW AN ORGANIZATION’S CULTURE, STRUCTURE,
AND HR PRACTICES SUPPORT STRATEGIC
IMPLEMENTATION
• Organizational culture: The shared assumptions
that affect how work gets done
• Organizational structure: Who reports to whom
and who does what
• HR Practices: How the organization manages its
talent
• Leadership creates alignment among culture,
structure, and HR practices.
© McGraw Hill
FIGURE 8.1 How
Organizational Culture,
Organizational
Structure, and Human
Resource Practices
Align to Support
Strategic
Implementation
Source: Figure based in part on C. Ostroff, A. J. Kinicki,
and R. S. Muhammad, “Organizational Culture and
Climate,” Handbook of Psychology, Volume 12: Industrial
and Organizational Psychology, 2nd ed. (Hoboken, NJ:
John Wiley & Sons, 2013), Chapter 24, pp. 643–676.
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© McGraw Hill
WHAT KIND OF ORGANIZATIONAL CULTURE WILL
YOU BE OPERATING IN?
The Three Levels of Organizational Culture
How Employees Learn Culture: Symbols, Stories,
Heroes, Rites and Rituals, and Organizational
Socialization
Four Types of Organizational Culture: Clan,
Adhocracy, Market, and Hierarchy
The Importance of Culture
Preparing to Assess P–O Fit before a Job Interview
© McGraw Hill
THE THREE LEVELS OF ORGANIZATIONAL CULTURE
Level 1: Observable Artifacts—Physical
Manifestations of Culture
Level 2: Espoused Values—Explicitly Stated Values
and Norms
Level 3: Basic Assumptions—Core Values of the
Organization
© McGraw Hill
8
HOW EMPLOYEES LEARN CULTURE
•
•
•
•
•
Symbols
Stories
Heroes
Rites and Rituals
Organizational
Socialization
© McGraw Hill
Monkey Business Images/Shutterstock
FOUR TYPES OF ORGANIZATIONAL CULTURE: CLAN,
ADHOCRACY, MARKET, AND HIERARCHY
Clan Culture:
•
An Employee-Focused Culture Valuing Flexibility, Not Stability
Adhocracy Culture:
•
A Risk-Taking Culture Valuing Flexibility
Market Culture:
•
A Competitive Culture Valuing Profits over Employee
Satisfaction
Hierarchy Culture:
•
© McGraw Hill
A Structured Culture Valuing Stability and Effectiveness
FIGURE 8.3 COMPETING VALUES FRAMEWORK
Source: Adapted from K. S. Cameron, R. E. Quinn, J. Degraff, and A. V. Thakor, Competing Values
Leadership (Northampton, MA: Edward Elgar, 2006), p. 32.
© McGraw Hill
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THE IMPORTANCE OF CULTURE
Many believe
culture shapes an
organization’s
long-term success
by enhancing its
systems and
influencing its
important
outcomes—and
research supports
this belief.
FIGURE 8.4 WHAT ORGANIZATIONAL VARIABLES ARE
ASSOCIATED WITH ORGANIZATIONAL CULTURES?
Source: Data taken from C. A. Hartnell, A. Y. Ou, A. J. Kinicki, D.
Choi, and E. P. Karam, “A Meta Analytic Test of Organizational
Culture’s Association with Elements of an Organization’s System
and Its Relative Predictive Validity on Organizational Outcomes.”
Journal of Applied Psychology 104, no. 6 (2019), pp. 832–50.
© McGraw Hill
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PREPARING TO ASSESS P–O FIT BEFORE A
JOB INTERVIEW
• Make a list of your personal values, strengths,
and weaknesses.
• Spend some time learning about the organization
you plan to interview with.
• Compare your list of personal values, strengths,
and weaknesses with those of the organization.
© McGraw Hill
THE PROCESS OF CULTURE CHANGE
1. Formal statements
7.
Physical design
2. Slogans and sayings
8.
Rewards, titles,
promotions, and
bonuses
9.
Organizational goals
and performance criteria
3. Rites and rituals
4. Stories, legends, and
myths
5. Leader reactions to
crises
6. Role modeling, training,
and coaching
10. Measurable and
controllable activities
11. Organizational structure
12. Organizational systems
and procedures
© McGraw Hill
DON’T FORGET ABOUT PERSON–ORGANIZATION FIT
• Recall that P–O fit reflects the extent to which
your personality and values match the climate
and culture in an organization.
• P–O fit is important because it can affect your
work attitudes and performance.
• While it is possible to change an organization’s
culture and thus create a better fit, many
employees experiencing poor P–O fit end up
searching for new jobs.
© McGraw Hill
THE MAJOR FEATURES OF AN ORGANIZATION
Major Features of Organizations: Four Proposed by
Edgar Schein
Major Features of Organizations: Three More That
Most Authorities Agree On
The Organization Chart
© McGraw Hill
MAJOR FEATURES OF ORGANIZATIONS: FOUR
PROPOSED BY EDGAR SCHEIN
Common purpose:
•
The means for unifying members
Coordinated effort:
•
Working together for common purpose
Division of labor:
•
Work specialization for greater efficiency
Hierarchy of authority:
•
© McGraw Hill
The chain of command
MAJOR FEATURES OF ORGANIZATIONS: THREE
MORE THAT MOST AUTHORITIES AGREE ON
• Span of Control: Narrow (or Tall) versus Wide (or
Flat)
• Authority—Accountability, Responsibility, and
Delegation
• Centralization versus Decentralization of
Authority
© McGraw Hill
THE ORGANIZATION CHART
The vertical hierarchy of authority:
• Who reports to whom
The horizontal specialization:
• Who specializes in what work
© McGraw Hill
FIGURE 8.6 THE ORGANIZATION CHART
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© McGraw Hill
EIGHT TYPES OF ORGANIZATIONAL STRUCTURE
Traditional designs:
•
Simple, functional, divisional, and matrix structures
The horizontal design:
•
Eliminating functional barriers to solve problems
Designs that open boundaries between
organizations: hollow, modular, and virtual
structures.
© McGraw Hill
TRADITIONAL DESIGNS: SIMPLE STRUCTURES
There is only one
hierarchical level of
management
beneath the owner.
Figure 8.7: Simple Structure: An example.
© McGraw Hill
TRADITIONAL DESIGNS: FUNCTIONAL STRUCTURES
Figure 8.8:
Functional
structure with two
examples; one for
a business and
one for a hospital
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© McGraw Hill
TRADITIONAL DESIGNS: DIVISIONAL STRUCTURES
Figure 8.9 Three
examples of
divisional
structure: product,
customer, and
geographic
divisions
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© McGraw Hill
TRADITIONAL DESIGNS: MATRIX STRUCTURES
Figure 8.10:
An example
of a matrix
structure in
an
arrangement
that Ford
might use
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THE HORIZONTAL DESIGN: ELIMINATING
FUNCTIONAL BARRIERS TO SOLVE PROBLEMS
Figure 8.11:
The horizontal
design with a
mix of
functional
(vertical) and
project-team
(horizontal)
arrangements
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© McGraw Hill
FIGURE 8.12 THE HOLLOW STRUCTURE
This is an example of a personal computer company
that outsources noncore processes to vendors.
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© McGraw Hill
CAREER CORNER: MODEL OF CAREER READINESS
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CAREER CORNER: UNDERSTANDING THE BUSINESS
AND WHERE YOU “FIT” IN
• Questions to Ask of Your Prospective/New
Colleagues
• Questions to Ask of Your Prospective/New Boss
• Questions to Ask Yourself
© McGraw Hill
CAREER CORNER: BECOMING MORE ADAPTABLE
Personal adaptability is defined as the ability and
willingness to adapt to changing situations.
Try the following suggestions to increase your level
of adaptability.
•
Focus on being optimistic.
•
Display a proactive learning orientation.
•
Be more resourceful.
•
Take ownership and accept responsibility.
•
Expand your perspective by asking different questions.
© McGraw Hill
End of Main Content
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No reproduction or further distribution permitted without the prior written consent of McGraw Hill.
®
Because learning changes everything. ®
Week 7 (PPT7)
CHAPTER 9
HUMAN RESOURCE
MANAGEMENT
Getting the Right People
for Managerial Success
© 2022 McGraw Hill. All rights reserved. Authorized only for instructor use in the classroom.
No reproduction or further distribution permitted without the prior written consent of McGraw Hill.
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LEARNING OBJECTIVES
9-1
9-2
9-3
9-4
9-5
9-6
9-7
9-8
9-9
© McGraw Hill
Discuss the importance of strategic human resource
management.
Discuss ways to recruit and hire the right people.
Outline common forms of compensation.
Describe the processes used for onboarding and learning and
development.
Discuss effective performance management and feedback
techniques.
List guidelines for handling promotions, transfers, discipline, and
dismissals.
Discuss legal considerations managers should be aware of.
Describe labor-management issues and ways to work effectively
with labor unions.
Review the steps for becoming a better receiver of feedback.
HOW TO PREPARE FOR A JOB INTERVIEW
•
•
•
•
•
•
Ace Your Virtual Screening
Be Prepared
Dress Right and Be on Time
Practice What to Say and What to Ask
Know What You Will Be Asked
Plan for a Strong Closing
© McGraw Hill
STRATEGIC HUMAN RESOURCE MANAGEMENT
Human Resource Management: Managing an
Organization’s Most Important Resource
Internal and External HR Fit Promote Strategic HR
Management
The Role of Human and Social Capital
What Is the Best Approach to Strategic Human
Resource Management?
© McGraw Hill
HUMAN RESOURCE MANAGEMENT: MANAGING AN
ORGANIZATION’S MOST IMPORTANT RESOURCE
•
Regardless of industry, all organizations
use HR practices to some extent to
manage their workers.
•
Companies listed among the best places
to work become famous by offering
progressive and valued programs,
policies, and procedures.
•
Effective HRM means putting employees
first.
© McGraw Hill
INTERNAL AND EXTERNAL HR FIT PROMOTE
STRATEGIC HR MANAGEMENT
• Internal Fit
• External Fit
FIGURE 9.2 Strategic HRM:
How HR practices support
strategic implementation.
Source: Figure based in part on: C.
Ostroff, A. J. Kinicki, and R. S.
Muhammad, “Organizational Culture
and Climate,” Handbook of
Psychology: Volume 12, Industrial and
Organizational Psychology, 2nd ed.
(Hoboken, NJ: John Wiley & Sons,
2013), Chapter 24, pp. 643–676
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© McGraw Hill
THE ROLE OF HUMAN AND SOCIAL CAPITAL
• Human Capital
• Social Capital
• Strategic HRM gets the right people,
competencies, and connections into the right
places at the right time
© McGraw Hill
WHAT IS THE BEST APPROACH TO STRATEGIC
HUMAN RESOURCE MANAGEMENT?
Talent Management
•
Attitudes—Workers singled out as “stars” experience increased
job satisfaction, engagement, and commitment to the
organization.
•
Behaviors—Employees identified as high-potential respond with
greater effort, better job performance, and lower turnover.
•
Cognitions—Workers respond to their organizations’ elevated
perceptions with higher self-efficacy and increased feelings of
fulfillment.
High Performance Work Systems
© McGraw Hill
RECRUITMENT AND SELECTION: PUTTING THE
RIGHT PEOPLE INTO THE RIGHT JOBS
Recruitment: How to Attract Qualified Applicants
Selection: How to Choose the Best Person for the
Job
© McGraw Hill
RECRUITMENT: HOW TO ATTRACT QUALIFIED
APPLICANTS
•
•
•
•
•
Internal Recruiting: Hiring from the Inside
External Recruiting
Hybrid Approaches: Referrals and Boomerangs
Which Recruitment Approach Is Best?
How Fit Figures into Recruitment
© McGraw Hill
SELECTION: HOW TO CHOOSE THE
BEST PERSON FOR THE JOB
Selection is the process of screening job applicants
and choosing the best candidate for a position.
•
What Are Legally Defensible Selection Tools?
•
Background Information: Application Forms, Résumés,
and Background Checks
•
Interviews: Unstructured, Situational, and BehavioralDescription
•
Employment Tests: Ability, Performance, Personality,
Integrity, and Others
© McGraw Hill
MANAGING AN EFFECTIVE WORKFORCE:
COMPENSATION AND BENEFITS
Wages or Salaries
Incentives
Benefits
© McGraw Hill
ONBOARDING AND LEARNING AND
DEVELOPMENT
• Onboarding: Helping Newcomers Learn the
Ropes
• Learning and Development: Helping People
Perform Better
© McGraw Hill
ONBOARDING: HELPING NEWCOMERS LEARN
THE ROPES
•
Effective onboarding programs generate a host of benefits.
•
Onboarding Best Practices
POSITIVE ONBOARDING
EXPERIENCES GENERATE:
NEGATIVE ONBOARDING
EXPERIENCES GENERATE:
Increased commitment, job
satisfaction, and productivity
Decreased productivity and job
satisfaction
Higher customer satisfaction
Lower customer satisfaction
Lower turnover
Higher costs and turnover
TABLE 9.1 The Effects of Positive and Negative Onboarding Experiences. Source: Findings based on C.
Caldwell and R. Peters, “New Employee Onboarding—Psychological Contracts and Ethical
Perspectives,” Journal of Management Development, 2018, pp. 27-39.
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© McGraw Hill
LEARNING AND DEVELOPMENT: HELPING
PEOPLE PERFORM BETTER
• The Learning and Development Process
• Different Types of Learning and Development
• Learning and Development Is Worth the
Investment
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© McGraw Hill
PERFORMANCE MANAGEMENT
Performance Management in Human Resources
Performance Appraisals: Are They Worthwhile?
Two Kinds of Performance Appraisal: Objective and
Subjective
Who Should Make Performance Appraisals?
Effective Performance Feedback
© McGraw Hill
PERFORMANCE MANAGEMENT IN HUMAN
RESOURCES
Performance
management,
can improve
firm
profitability as
well as
employee
performance,
productivity,
motivation,
and attitudes.
Figure 9.4: Performance Management: Four steps.
Source: Adapted from A. J. Kinicki, K. J. L. Jacobson, S. J. Peterson, and G. E. Prussia, “Development and Validation of the Performance
Management Behavior Questionnaire,” Personnel Psychology, 66 (2013), pp. 1–45.
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© McGraw Hill
PERFORMANCE APPRAISALS: ARE THEY
WORTHWHILE?
• A performance appraisal can sometimes consist
of a tense conversation that leaves both parties
feeling unsatisfied.
• Frequent feedback is best.
• Feedback should be future-oriented.
© McGraw Hill
TWO KINDS OF PERFORMANCE APPRAISAL:
OBJECTIVE AND SUBJECTIVE
Objective Appraisals
Subjective Appraisals
•
•
Trait appraisals
•
Behavioral appraisals
•
© McGraw Hill
They measure desired
results.
They are harder to…
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