MGMT 3000 1st Edition Lecture 3Outline of Last Lecture I. Managerial Roles a. Interpersonal Roles b. Informational roles c. Decisional Roles II. What companies look for in managers a. Technical Skills b. Human skills c. Conceptual skills Outline of Current LectureI. Mistakes that Mangers Make II. First Year management transition III. Management practices that yield higher productivity IV. External environments a. Changing external environments Current Lecture Mistakes that managers make: Insensitive to others Cold, arrogantBetray of trustOverly AmbitiousSpecific Performance problems with the businessOver-managingUnable to staf efectively Unable to think strategically Unable to adapt to boss with diferent style Over dependent on Mentor First Year management TransitionInitial: Be a bossThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.Formal authority Manage tasks Job is not managing peopleAfter 6 months: Initial expectation were wrong Fast pace Heavy workload Job is to be a problem solver and troubleshooter to subordinatesAfter a year: No longer doer Communicating, listening and giving positive reinforcement Learning to adapt to the control stressIn order to transition to these phases of management it is important to learn which skills you need Management practices that yield a competitive advantage through people: Employment security Selective hiring Self-managed teams High wages contingent on performance Training and skill development Reduction of status diferences Sharing information Chapter 2External Environment: forces and events outside a company that have the potential to influence or afect the company Changing external environments: 1. Environmental change: Rate at which a company’s environment change Stable: slow rate of change Dynamic: fast rate of change Ex. Waste management is changing from a stable to dynamic environment Punctuated equilibrium theory: companies cycle through stable and dynamic environments 2. Environmental complexity: The number and intensity of external factor in he environment that afect organizations Simple vs. complex Ex. Waste management is becoming complexEx. In the beer industry a lot of people are turning to Craft beers and big companies such as Bud are loosing market share 3. Resource Scarcity: The degree to which an organization’s external environment has an abundance or scarcity of critical organizational resources Ex. With waste management: Land is a limited resource, Environmental change, environmental complexity and resource scarcity leads up to Uncertainty which is how well managers can understand or predate the external changes andtrends afecting their
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