MGMT 309 1nd EditionExam # 1 Study Guide Lectures: 1 - 7Lecture 1 (January 14)Chapter 1: Managing and the Manager’s JobOrganization- 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 laborFinancial Resources- Capital investments to support ongoing and long-term operationsPhysical Resources- Raw materials; Office and production facilities, and equipmentInformation Resources- Useable data, information linkagesManagement- 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 processBasic 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 accomplishedLecture 2 (January 16) Chapter 1: Managing and the Manager’s Job ContinuedNot-for-profit Organization- The money that the company makes goes back into itselfLevels 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 firstto go during layoffs- First-Line Managers- Supervise and coordinate the activities of operating employeesNote: never assume duties by titleTypes of Managers:- Marketing- Financial- Operations- Human Resources- Other Specialist typesNote: The bigger the Company the more levels and areas of managementManagerial Roles:- Interpersonal Roles (Relationships)o Figurehead- Ceremonialo Leadero Liaison- Coordinate activates of two project groups- Informational Roles (Gather and sharing of information)o Monitor- Scan industry reports to collect informationo Disseminator- Send memes to spread infoo Spokes Person- Speaks on behalf of new organizational initiates - Decisional Roles (Make decisions)o Entrepreneuro Disturbance handler o Resource allocatoro Negotiator Note: all of these roles need to be filled but does not have to be same personManagerial Skills- Technical- understanding not knowing how to do- Interpersonal- Conceptual- abstract- Diagnostic- Visualize the appropriate response to a situation- Communication- Decision-making- Time-managementManagement is a mix of science and artChapter 2: Traditional and Contemporary Issues and ChallengesNote: In this chapter don’t memorize names and datesClassical 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 resourcesLecture 3 (January 21)Chapter 2: Traditional and Contemporary Issues and Challenges ContinuedSystem: An interrelated set of elements functioning as a wholeOpen System: An organization that interacts with its external environmentClosed System: Organization that does not interact with its external environmentSubsystem: 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 upEntropy: Opposite of synergy; The pieces are worth more than the wholeBehavioral 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 manageQuantitative 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 behaviorIntegrating 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 managementOne of the biggest contemporary issues is the economy, it can be hard to predict. Others include:- Management of a diverse workforce- Ethics in corporate governanceChapter 3: The Environment and Culture of Organizations Definitions: External Environment: Everything outside of the organizationThe 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 inother countriesTask 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)-