Types of Managers

General Managers – supervise the activities of several departments.

Functional Managers – Supervise the completion of related tasks.

- Common functional areas:

- Marketing
- Operations/ Production
- Finance/Accounting
- Human Resources/Personnel Management

Project Managers –Coordinate employees across several functional departments to accomplish a

specific task.
Managing the old versus New Workplace

OLD NEW
AUTHOCRATIC LEADERSHIP PARTICIPATIVE LEADERSHIP
DOMESTIC VIEW GLOBAL VIEW
SPECIALIZED JOBS PERFORMED BY INDIVIDUALS FLEXIBLE JOBS PERFORMED BY TEAMS
HOMOGENEOUS EMPLOYEES DIVERSE EMPLOYEES
SLOW CHANGE RAPID CHANGE

Managing the New Workplace

Learning Organizations – have everyone engaged in identifying and solving problems, enabling change,
and continuous mouvements.

- Team-based Structure
- Participative management
- The sharing of information through knowledge management

Knowledge Management – Involves everyone in an organization in sharing knowledge and applying it to

continuously improve products and processes. – Is the firm’s core capability and is important to
sustained ability to compete.

Entrepreneurship

Entrepreneurship Activities

- Creating new products or processes

- Entering new markets
- Creating new business venture

New Venture Entrepreneurs and Intrapreneurs

New Venture – A new business or a new line of business.

Entrepreneur – One who starts a new small business venture.

Intrapreneur – One who starts a new line of business within a large organization.

Small Business Defined

- Is independently owned and operated

- In not dominant in its field
 - Has annual receipts not in excess of $500,000

Selecting the New Venture

Factors in Selecting a New Venture

- Good growth potential and profit opportunities

- Previous work experience
- Observing others’ mistakes and successes
- Finding an overlooked market segment or niche
- Systematic search or hobby

Competitive Advantage – Specifies how the organization offers unique customer value.

- First-mover advantage involves offering a unique customer value before competitors do so.

Five most commonly used Entrepreneurial Strategies

- Creating a competitive advantage

- Maintaining innovation
- Lowering the costs of developing and/or maintaining one’s venture
- Defending an existing product/service
- Creating a first-mover advantage