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Lecture Notes of CH 05
Lecture Notes of CH 05
Chapter 05
Management and Leadership
Prepared by Tania Akter
Lecturer
BBS
Brac University
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Vision -- More than a goal, it’s a broad explanation of why the organization exists and where it’s
trying to go. (future)
A mission statement outlines the organization’s fundamental purposes. (present)
Goals are the broad, long term accomplishments an organization wishes to attain.
Objectives are specific, short term statements detailing how to achieve the organization’s goals.
Until a business has determined what its mission is, planning cannot begin. Furthermore, one
plan cannot possibly encompass everything necessary to achieve the organization’s mission, so
managers are tasked with developing sets of plans that, together, guide the
organization’s activities.
- Strategic planning
- Tactical planning
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- Operational planning
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Strategic Plans
Strategic plans translate the company mission into a set of long-term goals and short-term
objectives. In the process of determining a company’s strategic plan, top-level managers set out
to answer the following questions:
Tactical Plans
Tactical plans translate high-level strategic plans into specific plans for actions that need to be
taken up and down the layers of an organization. They are short-range plans (usually spanning
less than one year) that emphasize the current operations of various parts of the organization.
As a company refines or alters its strategic plans, the tactics must also be adjusted to execute the
strategy effectively. A tactical plan answers the following questions:
1. What is to be done?
2. Who is going to do it?
3. How is it to be done?
Operational Plans
Operational plans establish detailed standards that guide the implementation of tactical plans
and establish the activities and budgets for each part of the organization. Operational plans may
go so far as to set schedules and standards for the day-to-day operations of the business and
name responsible supervisors, employees, or departments.
Contingency Plans
Unforeseen events or disasters can be especially harmful to a business. For example, a fire,
earthquake, or flood can make it impossible to continue normal business operations. A
contingency plan lays out the course of action a business will take in response to possible future
events.
the firm differentiates its products in the focus market, or an overall cost leadership focus,
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whereby the firm manufactures and sells its products at low cost in the focus market. In the watch
and defenders. Most large companies use this approach because they want to both protect their
different kinds of building blocks, managers can choose a variety of structural possibilities. And
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just as the children can assemble the blocks in any number of ways, so, too, can managers put
LEADERSHIP
• Leaders must:
• Communicate a vision and rally others around that vision.
• Establish corporate values.
• Promote corporate ethics.
• Embrace change.
• Stress accountability and responsibility
LEADERSHIP STYLES
1. Autocratic leadership means making managerial decisions without consulting others. This
style is effective in emergencies and when absolute followership is needed-for example, when
fighting fires. Autocratic leadership is also effective sometimes with new, relatively unskilled
workers who need clear direction and guidance. coach Phil Jackson used an autocratic leadership
style to take the Los Angeles Lakers to three consecutive National Basketball Association
championships in his first three seasons. By following his readership, a group of highly skilled
individuals became a winning team. How is the team doing now? what kind of leadership do you
see being used most successfully in baseball, football, and other areas?
2. Participative (democratic) leadership involves managers and employees working together to
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make decisions. Research has found that employee participation in decisions may not always
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Empowering Workers
Many leaders in the_ past gave explicit instructions to workers, telling them what to do to meet
the goals and objectives of the organization. The term for this process is directing. In tradition
organizations, directing includes giving assignments, explaining routines, clarifying policies, and
providing feedback on performance. Many organizations still follow this model especially fast-
food restaurants and small retail establishments where the employees don’t have the skill and
experience needed to work on their own, at least at first.