MGMT 309 1nd Edition Exam 1 Study Guide Lectures 1 7 Lecture 1 January 14 Chapter 1 Managing and the Manager s Job Organization A group of people working together in a structured and coordinated fashion to achieve a set of goals Note it does not have to be formal Human Resources Managerial talent and labor Financial Resources Capital investments to support ongoing and long term operations Physical Resources Raw materials Office and production facilities and equipment Information Resources Useable data information linkages Management using organization s resources with the aim of achieving the organizational goals in an efficient and effective manner Manager Some whose primary responsibility is to carry out the management process Basic Purpose of Management To effectively use resources wisely and in a cost effective way and effectively make the right decisions and successfully implementing them Four Functions of Management Planning and Decision Making Determining goals and courses of action Organizing Coordinating activities and resources Leading Motivating and managing people Controlling Feedback know what has been accomplished Lecture 2 January 16 Chapter 1 Managing and the Manager s Job Continued Not for profit Organization The money that the company makes goes back into itself Levels of managers Top Managers Small group of executives who manage the overall organization Create the organization s goals overall strategy and operating polices Middle Managers Implement the policies and plans of top managers while supervising and coordinating the activities of lower level managers This group of people are the first to go during layoffs First Line Managers Supervise and coordinate the activities of operating employees Note never assume duties by title Types of Managers Marketing Financial Operations Human Resources Other Specialist types Note The bigger the Company the more levels and areas of management Managerial Roles Interpersonal Roles Relationships o Figurehead Ceremonial o Leader o Liaison Coordinate activates of two project groups Informational Roles Gather and sharing of information o Monitor Scan industry reports to collect information o Disseminator Send memes to spread info o Spokes Person Speaks on behalf of new organizational initiates Decisional Roles Make decisions o Entrepreneur o Disturbance handler o Resource allocator o Negotiator Note all of these roles need to be filled but does not have to be same person Managerial Skills Technical understanding not knowing how to do Interpersonal Conceptual abstract Diagnostic Visualize the appropriate response to a situation Communication Decision making Time management Management is a mix of science and art Chapter 2 Traditional and Contemporary Issues and Challenges Note In this chapter don t memorize names and dates Classical Management Perspective Focuses on efficiency Two types Scientific Management Concerned with improving the performance of individual workers Gnatt charts Administrative Management A theory that focuses on managing the total organization Positives Laid foundation for later theoretical developments made management a valid subject of scientific inquiry Limitations Employees viewed on tools rather than as resources Lecture 3 January 21 Chapter 2 Traditional and Contemporary Issues and Challenges Continued System An interrelated set of elements functioning as a whole Open System An organization that interacts with its external environment Closed System Organization that does not interact with its external environment Subsystem A group of systems within the larger system that are interdependent with each other Synergy When the whole altogether is worth more than the pieces making it up Entropy Opposite of synergy The pieces are worth more than the whole Behavioral Management Perspective Process is important but so are individual attitudes and behaviors Evolved from human relations movement McGregor Theory X Is more harsh because it assumes people don t want to work and just do it because they have to and Theory Y Assumes working a apart of who you are and is more accommodating Organizational Behavior focuses on behavioral perspectives of management Closest to management style of today Positives Recognize that people are not tools and focuses on managerial attention on critical processes Negatives No single right way to manage Quantitative Management perspective Focuses on decision making economic effectiveness and mathematical models Two types Management Science Focus on mathematical models to assist with decisions Operations Management Practical Application of management science Positives Can simulate situations instead of having to carry them out also is useful in planning and controlling processes Negatives can t fully explain or predict human behavior Integrating Perspectives Systems Perspective Takes input Goes through process Output Take feedback and start over The feedback makes sure your output is worth more than input Universal perspective The one best way to manage Contingency perspective Appropriate managerial behavior for managing depends on the current situation Integrative framework Uses both Systems perspective and Contingency perspective to integrate to create effective and efficient management One of the biggest contemporary issues is the economy it can be hard to predict Others include Management of a diverse workforce Ethics in corporate governance Chapter 3 The Environment and Culture of Organizations Definitions External Environment Everything outside of the organization The general environment Part of the external environment A set of broad dimensions that has an effect on the company Includes Economic Dimension Technological Dimension methods available Sociocultural Dimension customs mores values and demographic characteristics of society Political legal Dimension International dimension The extent to which the organization is affected by business in other countries Task Environment Part of the external environment Specific groups affecting the organization this includes Competitors Customers Suppliers Regulators that control the organization s polices EX Regulatory agencies like EPA and Interest groups like MADD Strategic partner s Allies who are in a joint venture or partnership Internal Environment Everything the company has direct control over Includes Owners Board of directors Employees Physical work Environment Lecture 4 January 23 Chapter 3 The Environment and Culture of