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Chapter 1 Management Accounting

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114 views41 pages

Chapter 1 Management Accounting

Busniess Management Accounting dsdsda dskda adkd dskasd daksadak dakasd

Uploaded by

SyeikhalHafiz
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© Attribution Non-Commercial (BY-NC)
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The Management Process Today

Chapter One

McGraw-Hill/Irwin

Copyright 2011 by the McGraw-Hill Companies, Inc. All rights reserved.

Learning Objectives
LO1 Describe what management is, why management is important, what managers do, and how managers utilize organizational resources efficiently and effectively to achieve organizational goals LO2 Distinguish among planning, organizing, leading, and controlling (the four managerial functions), and explain how managers ability to handle each one can affect organizational performance LO3 Differentiate among three levels of management, and understand the tasks and responsibilities of managers at different levels in the organizational hierarchy
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Learning Objectives
LO4 Distinguish between three kinds of managerial skill, and explain why managers are divided into different departments to perform tasks more efficiently and effectively LO5 Discuss some major changes in management practices today that have occurred as a result of globalization and the use of advanced information technology (IT) LO6 Discuss the principal challenges managers face in todays increasingly competitive global environment
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What is Management?
Management The planning, organizing, leading, and controlling of human and other resources to achieve organizational goals effectively and efficiently

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What is Management?
Organizations
Collections of people who work together and coordinate their actions to achieve a wide variety of goals

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What is Management?
Managers
The people responsible for supervising the use of an organizations resources to meet its goals Resources include people, skills, know-how, machinery, raw materials, computers and IT, and financial capital

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Achieving High Performance


Organizational Performance
A measure of how efficiently and effectively managers use organizational resources to satisfy customers and achieve goals

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Efficiency, Effectiveness, and Performance in an Organization

Figure 1.1

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Organizational Performance
Efficiency
A measure of how well or productively resources are used to achieve a goal

Effectiveness
A measure of the appropriateness of the goals an organization is pursuing and the degree to which they are achieved.

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Why study management?


The more effective and efficient use an organization can make of resources, the greater the relative wellbeing of people Almost all of us encounter managers because most people have jobs and bosses Understanding management is one important path toward obtaining a satisfying career

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Four Tasks of Management

Figure 1.2

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Planning
Planning
Process of identifying and selecting appropriate goals and courses of action

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Steps in the Planning Process


1. Deciding which goals to pursue 2. Deciding what strategies to adopt to attain those goals 3. Deciding how to allocate organizational resources

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Planning
Strategy
cluster of decisions about what goals to pursue, what actions to take, and how to use resources to achieve goals

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Organizing
Organizing
structuring working relationships so organizational members interact and cooperate to achieve organizational goals.

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Organizing
Organizational Structure
A formal system of task and reporting relationships that coordinates and motivates organizational members so that they work together to achieve organizational goals

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Leading
Leading
Articulating a clear vision and energizing and enabling organizational members so they understand the part they play in attaining organizational goals

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Controlling
Controlling
Evaluating how well an organization is achieving its goals and taking action to maintain or improve performance The outcome of the control process is the ability to measure performance accurately and regulate efficiency and effectiveness

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Question?
What is a group of people who work together and possess similar skills or use the same knowledge, tools, or techniques? A. Organization B. Department C. Team D. Presentation Group

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Levels and Skills of Managers


Department
A group of people who work together and possess similar skills or use the same knowledge, tools, or techniques to perform their jobs

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Levels of Management
First line managers
Responsible for the daily supervision of nonmanagerial employees

Middle managers
Supervise first-line managers and are responsible for finding the best way to use resources to achieve organizational goals

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Levels of Management
Top managers
establish organizational goals, decide how departments should interact, and monitor the performance of middle managers

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Levels of Managers

Figure 1.3

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Relative Amount of Time That Managers Spend on the Four Managerial Tasks

Figure 1.4

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Levels of Managers
Top-management team
group composed of the CEO, COO, and the heads of the most important departments

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Question?
Which management skill is the ability to understand, alter, lead, and control the behavior of other individuals and groups? A. Conceptual B. Human C. Technical D. Technological
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Managerial Skills
Conceptual skills
The ability to analyze and diagnose a situation and distinguish between cause and effect.

Human skills
The ability to understand, alter, lead, and control the behavior of other individuals and groups.

Technical skills
The specific knowledge and techniques required to perform an organizational role.

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Question?
What is the specific set of abilities that allows one manager to perform at a higher level than another manager? A. Skill-sets B. SKAs C. Competencies D. Skill traits

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Technical Skills
Core competency
Specific set of skills, abilities, and experiences that allows one organization to outperform its competitors

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Types and Levels of Managers

Figure 1.5

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Recent Changes in Management Practices


Restructuring
downsizing an organization by eliminating the jobs of large numbers of top, middle, or first-line managers and non-managerial employees

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Recent Changes in Management Practices


Outsourcing
contracting with another company, usually in a low cost country abroad, to perform an activity the company previously performed itself Increases efficiency because it lowers operating costs, freeing up money and resources that can be used in more effective ways

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Empowerment and Self-Managed Teams


Empowerment
Expansion of employees knowledge, tasks, and decision-making responsibilities

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Empowerment and Self-Managed Teams


Self-managed team
a group of employees with the responsibility for organizing, controlling, and supervising their own activities and for monitoring the quality of the goods and services they provide

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Challenges for Management in a Global Environment


Rise of Global Organizations. Building a Competitive Advantage Maintaining Ethical and Socially Responsible Standards Managing a Diverse Workforce Utilizing IT and ECommerce Practicing Global Crisis Management

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Challenges for Management in a Global Environment


Global organizations
organizations that operate and compete in more than one country

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Building Competitive Advantage


Competitive advantage
Ability of one organization to outperform other organizations because it produces desired goods or services more efficiently and effectively than they do

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Building Blocks of Competitive Advantage

Figure 1.6

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Building a Competitive Advantage


Innovation
process of creating new or improved goods and services or developing better ways to produce or provide them

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Practicing Global Crisis Management


Crisis management involves making important choices about how to:
1. Create teams to facilitate rapid decision making and communication 2. Establish the organizational chain of command 3. Recruit and select the right people 4. Develop bargaining and negotiating strategies to manage conflicts

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Video Case: Changing Times at Dyson


What strategy has James Dyson used to develop and sell products like his cyclonic vacuum cleaner? What leadership qualities does James Dyson exhibit?

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