MGMT 320 1st Edition Lecture 1Outline of Last Lecture I. This was the first lectureOutline of Current Lecture I. Basic management vocabulary II. Structure & management rolesCurrent Lecture1. Management: the attainment of organizational goals in an effective&efficient manner, though planning, organizing, leading&controlling organizational resources2. Management: (alternative definition) getting things done through people3. Goal: desired future state of affairs – where we want to get4. Effective: reaching goals5. Efficient: using the least amount of resources necessary 6. Henry Feoul– “this is what managers do” (planning, organizing, leading &controlling)a. Planning: setting goals, developing strategies – general ways to compete (ie Walmart low prices, Best Buy big selection – customers’perceptions), defining actions, & determining resources needed (how many stores/employees/location…)i. You plan with predictions of the future use scenarios [referto control i]b. Organizing: defining jobs (who does what, group tasks together), grouping jobs (based on “like” activities departments), defining lines of authority (who’s in charge of who) creating structurei. For a business, there has to be 2 functional areas: production &sales (part of marketing)These 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.ii. Functional structure: groups jobs based on performance of like activities [Feoul: “this is how an organization should be structured”]c. Leading: communicating direction & motivating employees to do the most & the bestd. Controlling: measuring performance (keeping things on track), comparing performance to goals, making adjustments if necessary i. Evaluate progress to goals on a frequent basis, making smalland frequent corrections to increase the probability of success. 7. Management Rolesa. Defined by: i. level in the organizationCEOVP MARKETINGmrkt mgr mrkt mgr mrkt mgrnon mgr non mgrbottom manVP PRODUCTIONVP FINANCEVP HUMAN RESOURCES1.2. Levelsa. Topi. Cross divisional/departmental focus (general manager – all of the things in your company are part of your concern)ii. Outside focus (competitors, world economy)iii. Long-term focus (time frame is relative)b. Middlei. Functionally oriented (accountant manager/marketing manager….)ii. Inside/outside focus iii. Mid-term focus (if top is long-term then middle is not so much)c. Lower LevelTOP MANAGERSMIDDLE MANAGERSLOWER LEVEL MANAGERSFIRST LINE MANAGERSNON-MANAGEMENT PERSONi. Inside focusii. Short-term focus (i.e. who is going to be on the schedule next week)d. First Linei. Inside focusii. Short-term focus (i.e. who is going to be on the schedule next week)iii. Has non-management
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