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UT MAN 320F - Exam 1 Study Guide

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MAN 320 1st Edition Exam 1 Study Guide Chapters 1 6 8 10 12 CHAPTER 1 What is management Getting work done through others Vinet Nayar obsessed with enabling employees to create value o Make sure everyone is enabled to do what they do well Efficiency o getting work done with the minimum effort waste and expense o high productivity o mainly focus on high job satisfaction o los absenteeism o low turnover o organizational citizenship behaviors Effectiveness o Accomplish tasks that help fulfill organizational behaviors Four functions of management Henri Fayol The success of an enterprise generally depends much more on administrative ability of its leaders than on their technical ability Henri Fayol the more time CEOs spend planning the more profitable their companies are 1 Planning o determining organizational goals and a means for achieving them o best ways to improve performance work harder and longer goal related behaviors think of better ways to do job o at the heart of strategic planning lies the question what business are we in o example Cisco Systems bad planning maker of critical computer routers spent 34 billion acquiring or developing consumer products cisco lost focus of its main business which is core routing switching and networking 2 Organizing o deciding where decisions will be made o who will do what jobs and tasks o who will work for whom in the company o Continental and United Airlines merger 14000 different computer systems 33 different teams wide range of labor unions no first class in continental Lori Gobillot I tell them to be fact based and direct and objective and keep the emotions out of it and don t keep score The goal was to reduce the annual expense by 1 2 billion 3 Leading o inspiring and motivating workers to work hard to achieve organizational goals o Alan Mullay Ford motor company Communication communication communication Everyone has to know the plan its status and the areas that need special attention Cards mission on one side goals on the other Planned ahead for recession by securing a loan and getting rid of some non core brands 4 Controlling o monitoring progress toward goal achievement and taking corrective action when progress is not being made o basic control processes setting standards to achieve goals comparing actual performance to those standards making changes to return performance to those standards Michael Corbat Citi Group Says managerial and company success are contingent on setting goals measuring performance and making adjustments and corrections as needed Kind of Managers Top managers o CEO COO CFO CIO VP corporate heads o Responsible for the overall direction o Responsibilities Creating context for change Groupon founder and CEO was fired because he did not move fast enough to reverse profit loss Forming a long range vision or mission Develop employee commitment to and ownership of the company s performance employee buy in Create a positive organizational culture through language and action Impart company values strategies and lessons through what they do and say to others inside and outside the company Communication and messages should be consistent Monitor their business environments AG Lafley former CEO Procter and Gamble o The CEO has to link the world with the internal organization Top managers use conceptual skills which is the ability to think critically multitask intra platform context application Middle managers o Human skills interpersonal communication skills that are used 24 7 o o o o o Setting goals that are consistent with top management goals Planning and implementing subunit strategies for achieving those objectives Specifically plan and allocate resources to meet objectives Coordinate and link groups departments and divisions within the company Monitor and manage the performance of the subunits and individual managers who report to them Closer to the people who can best solve problems and implement solutions First line managers o Office manager shift supervisor or department manager o Manage the performance of entry level employees who produce the company s goods o Only ones who don t supervise other managers o Monitor teaching and short term planning o Encourage monitor and reward performance o Teach entry level employees how to do their jobs o Posses technical skills o Make detailed schedules and operating plans based on middle management o Results within two weeks generally Team leaders o Relatively new position o Facilitating team activities toward accomplishing a goal but are not responsible for team performance o They help members Plan and schedule work Learn to solve problems Work effectively with each other o The idea is for the team leader to be at the service of the group provide intellectual emotional and spiritual resources o show others to think about their work in the context of their lives o managing external relationships o bridge or liaison between his her team and other teams or departments MINTZBERG Interpersonal roles figurehead role o performing ceremonial duties leader role o managers motivate and encourage workers to accomplish organizational objectives liaison role deal with people outside their units o CEO s often sit on other companies boards Informational roles obtainment and sharing of information monitor role o scan the environment for information actively contact others for information and receive great deal of unsolicited information o close look on the media and news disseminator role o share the info they have collected with their subordinates and others in the department o Qualtrics Monday email Spokesperson role o Share information with people outside their departments or companies o Most common CEO job Decisional roles Entrepreneur role managers adapt themselves o Peter Loesche being good today means you have to be better tomorrow and even better the day after tomorrow The biggest risk is complacency Disturbance handler role o Sony hack in 2011 and 77 million user theft info o Howard Stringer CEO 1 million insurance policy and welcome package for the victims Resource allocator o Danny Winokour VP of Adobe responded to Steve Jobs rejecting Flash by deciding to invest time and money on developing tools for HTML Negotiator role o Disney and Marvel Studios Iron Man 3 Struck a deal to make the movie a US China coproduction by incorporating Chinese elements This allowed the studio to take 38 box office revenue instead of 25 What companies look for in managers technical skills o most


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