MANAGEMENT 301 STUDY GUIDE FOR EXAM 1 Module 1 Management Foundations Football Exercise Managerial Thinking 1 Goal Planning 2 Structure Organizing 3 Engagement Leadership 4 Metrics Control The Management Process Planning Organizing Leading Controlling Planning Setting performance objectives and deciding how to achieve them Organizing Arranging tasks people and other resources to accomplish the work Leading Inspiring people to work hard to achieve high performance Controlling Measuring performance and taking action to ensure desired results EXAMPLE IPAD Emotional Intelligence Self Awareness Self Regulation Personal Motivation Social Awareness The Fortune 50 1000 The Global 50 1000 Top companies in the world Largest companies by REVENUE EX Wal Mart and Exon Mobile Gas 3 Languages of Business 1 Accounting Technical Language 2 A Business Major Functional Language 3 Management Organizational Language Chapter 1 Managers and The Management Process Management and Leadership Best Boss Worst Boss Managers Leaders Nice Understanding Prestigious Passionate Leadership Clear Systems Structure Administers Maintains Relies on Control Short Range View Asks how and when Maintains Status Quo Does things right Execution Too Controlling Lazy Unfair Unorganized Negligent Arrogant Innovates Focus on people Develops Inspires Trust Long Range View Asks what and why Challenge Status Quo Does the Right thing Strategic Vision Today the correct answer is to be a great leader with these skills and an awesome manager with those skills Warren Bennis On becoming a leader Leadership and Followership Being a good follower is also a leadership skill You can t always be the person in charge Effective leaders are very good at bringing people along Video Shirtless dancing guy in the park Levels of Management Traditional Pyramid of Levels of Management Top Down Structure EX Caterpillar Traditional Pyramids Exist Globally in all Sectors Military Religion Education Government and Business For Profit Board of Directors Hires Guides and directs the CEO CEO reports to Board of Directors Not for Profit Board of Trustees Run by a President or Director PYRAMID WITH CEO AT THE TOP FROM TOP TO BOTTOM 1 CEO smallest triangle 2 Senior Managers 3 Middle Managers Run divisions 4 Front Line Managers People who manage supervisors 5 Non Managerial Workers People doing the work Inverted Pyramid of Levels of Management EX W L Core CEO Terri Kelly Video TOF Trailer 2007 An inverted Pyramid is always about making sure customers are at the top of the pyramid No Senior leadership titles Everyone is associates Everyone is TEAM Workers self commit on what where they will work on PYRAMID WITH CEO AT THE BOTTOM FROM TOP TO BOTTOM 1 Customers Biggest triangle 2 Operating Workers 3 Team Leaders Middle Managers 4 Senior Managers 5 CEO Henry Mintzberg The Nature of Managerial Work 3 Roles of Managers Interpersonal Role McDonald s CEO 1 Figure Head Ceremonial Role open new lines ex Don Thompson 2 Leader Role Giving people things to do and assessing their performance 3 Liaison Role Networking role inside and outside the company Informational Role see what s happening achieve them 1 Monitor Look at broader economy see what s going on and look inside and 2 Disseminate Brining information inside What are strengths and how do we 3 Spokes Person Talk about the company and its products ex Steve Jobs introducing new technology Decisional Role 1 Resource Allocator In charge of budget 2 Negotiator Negotiate with everyone 3 Disturbance Handler How to manage if anything blows up and goes wrong ex Penn State Scandal 4 Entrepreneur What s next Skills of Managers According to Robert Katz Low Level 1 Conceptual Skill Ability to do critical problem solving 2 Human Skill Very important in training 3 Technical Skill Knowing how to do basic things EX You ve just left PSU with your shiny new marketing degree First job is to conduct direct market research Katz would call this what type of skill o Technical Management and Key Issues Globalization Ethics Diversity Governance Knowledge Self Management Chapter 2 Management Perspectives Theory and Practice Management has been around globally for a very long period of time 1800 years EX Machu Piccu in Peru Giza Pyramids in Egypt Great Wall in China Coliseum in Rome Big 3 Approaches to Management Theory and Practice 1 Classical 2 Behavioral 3 Modern 1 Classical Approach to Management Theory and Practice Frederick Taylor and Scientific Management Principles Taylor Father of Scientific Management Develop a science for each job Hire workers with the right abilities Train and motivate workers science get standardize work Support workers based on science Goal Secure maximum prosperity for employer and employee Never worked out for Taylor Ex of Scientific Management Henry Ford with a Car and Mass Production Video He wanted his employees to be able to buy his cars Scientific Management is used everywhere today Ex of Scientific Management Today BMW Plant Scientific Today Video Max Weber and Bureaucratic Organization Created Levels of Authority and the Pyramid Bureaucracy can t get things done very fast Clear Division of Labor Hierarchy of Authority Careers based on Merit Formal Rules and Procedures Impersonal People hired by who you know and your connections Key Power is the ability to coerce actions Authority are actions taken voluntarily Ex of Bureaucratic Management NASA Space Shuttle video Very inflexible and difficult to get things done BIG bureaucracy Ex of NON Bureaucratic Management Ansari X Prize video Penn State Lunar Lion Overview video Breakdown bureaucracy to make fast moving organization Everyone working independently at the same time to get more accomplished Henri Fayol and Administrative Principles Foresight Planning Organization Command Coordination Control Keys Scalar Principle is clear communication Unity of Command is one boss per person 2 Behavioral HR Approach to Management Theory and Practice 3 M s Understanding People at Work Elton Mayo and Hawthorne Studies 1st Behaviorist Studied Use of Economic incentives Change physical conditions Fostered Group Cohesion Result No Direct relationships found Researcher attention was key Groups have negative positive influence on member behavior Hawthorne Effect Tendency to live up to expectations Behaviorally if I put my attention on people we will get better performance Productivity Increases no matter what Abraham Maslow and Human Needs Theory What are the needs of
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