Lesson 7 COM MANAGEMENT SEMIS

• Five Principles of Great Management

  1. The Functions of Management
  2. The Types and Roles of Managers within the Organization
  3. Effective Management of Organizational Resources
  4. Understanding and Applying the (4) Dimensions of Enrolled Emotional Intelligence (EQ) in Maximizing Human Potential
  5. Know the Business
• Management is a discipline that consists of a set of five general functions: planning, organizing, staffing, leading and controlling. These 5 functions are part of a body of practices and theories on how to be a successful manager.
• Management 


  is a discipline that consists of a set of five general functions: planning, organizing, staffing, leading and controlling. These 5 functions are part of a body of practices and theories on how to be a successful manager.
• Planning


  Choosing appropriate goals and actions to pursue and then determining what strategies to use, what actions to take, and deciding what resources are needed to achieve the goals
• Organizing 


  Process of establishing worker relationships
• Leading 


  Articulating a vision, energizing employees, inspiring and motivating people using vision, persuasion, and effective communication skills
• Staffing


  Recruiting and selecting employees for positions within the company (within teams and department)
• Controlling


  Evaluate how well you are achieving your goals, improving performance, taking actions.
• Principle 1


  The Functions of Management
• Principle 2


  The Types and Roles of Managers within the Organization
• Henry Mitzberg, an academic author focused on business and management practices, developed 10 managerial roles that he divided into 3 categories (Interpersonal Roles, Information Roles, Decisional Roles)
• Interpersonal Roles 


  covers behaviors and responsibilities related to interactions with employees and other stakeholders
• Informational Roles 


  Represents situations when a manager generates, receives or shares knowledge with employees and higher-level colleagues to accomplish activities.
• Decisional Roles


  Describes a manager’s responsibility to use the information they gain to form business and strategic decisions.
• 1. Figurehead 


  This role refers to your responsibility as a manager to perform tasks related to social, symbolic or legal matters. In these situations, you are not making decisions but serving as a representative of the organization. As a figurehead, you also aim to inspire your team to complete goals and tasks.
• 2. Leader


  The leader managerial role refers to your duty as a manager to oversee the performance of your staff. Overall, you aim to manage the team and the responsibilities of each member to ensure you reach objectives effectively.
• 3. Liaison


  You serve as a connection between different groups of people to ensure work runs smoothly. As a liaison, you can transfer knowledge or information to members across your organization's chain of command or communicate between stakeholders and employees to ensure projects remain on task
• 4. Monitor


  You seek information related to your organization, such as potentially impactful industry changes. Assessing the current operations of the organization and identifying potential opportunities for improvement.
• 5. Disseminator


  You receive messages from internal and external sources that you convey to the appropriate individuals.
• 6. Spokesperson


  you represent your organization and convey information, such as goals or policies, to external stakeholders.
• 7. Entrepreneur 


  Involves responsibilities related to organizing and running business processes.
• 8. Disturbance Handler


  Help manage the issue.
• 9. Resource Allocator


  You are responsible for managing and distributing resources.
• 10. Negotiator


  You participate in or direct negotiation situations
• Principle 3


  Effective Management of Organizational Resources
• An essential component of operationalizing the organization’s strategic plan is allocating resources where they will make the most impact.
• According to the Associate Dean of the Forbes School of Business and Technology, Dr. Ray Powers, the most important thing to do is to manage resources properly.
• “ I define resources as people, time, money, and assets - and of course the basic definition of a project is to have a goal and a start and end date - for pretty much any activity we do.” - Dr. Ray Powers, Associate Dean of the Forbes School of Business and Technology
• Managers participate in operational planning and budget planning processes and, in doing so, actively determine what should be done, in what order it is to be done, and determine what resources are appropriate to be successful in achieving the plan. Keep in mind that this is not a personality contest. The strategic plan and its specific objectives determine what is important and what may not be as important.
• Understanding and Applying the (4) Dimensions of Enrolled Emotional Intelligence (EQ) in Maximizing Human Potential
• Emotional intelligence (EI or EQ for "emotional quotient") - is the ability to perceive, interpret, demonstrate, control, evaluate, and use emotions to communicate with and relate to others effectively and constructively. This ability to express and control emotions is essential, but so is the ability to understand, interpret, and respond to the emotions of others (Cherry, 2024).
• Successful managers understand the context and culture of leadership situations. What helps them succeed? It is simple; they understand EQ (the competencies in each dimension of emotional intelligence).
• Those four dimensions are: high self-awareness, social awareness, self-management, and  good social skills.
• Dr. Diane Hamilton, a program chair in the Forbes School of Business and Technology, recently described a candidate seeking a position on the faculty senate with having a high EQ. She is a highly skilled professional who possesses knowledge and skill in the area of Meyers Briggs Type Indicator, recognizes the importance of EQ.
• “He demonstrates emotional intelligence and exemplifies the high caliber of candidate I would like to represent the FSB,” she said about the candidate." - Dr. Diane Hamilton
• Principle 5

  Know your Business
• A common axiom in management is that a qualified manager can manage any business. This point is only partially true. In general, most managers are versatile specialists. Many successful managers started their careers not from managerial positions, but from the level of ordinary specialists.
• What most successful managers bring to their work in leading crews, departments, divisions, and companies is both a solid knowledge of the business (they are very experienced) and a solid knowledge of the principles of great management.