LO1 Management is Management getting work done through others Efficiency getting work done with a minimum of effort expense or waste Effectiveness accomplishing tasks that help fulfill organizational objectives such as delivering customer service and satisfaction to end users LO2 Management Functions best ways to improve performance will work for whom in the company Planning involves determining organizational goals and a means for achieving them One of the Organizing deciding where decisions will be made who will do what jobs and tasks and who Leading involves inspiring and motivating workers to work hard to achieve organizational goals Controlling monitoring progress toward goal achievement and taking corrective actions when progress isn t being made Involves setting standards to achieve goals comparing actual performance to those standards and the making changes to return performance to those standards LO3 Kinds of Managers Top managers hold positions like CEO COO CFO CIO and are responsible for the overall direction of the organization Responsible for creating a context for change develop employees commitment to and ownership of the company s performance create a positive organizational culture through language and action and monitoring their business environments link the external world with the internal organization Middle managers hold positions like plant manager regional manager and divisional manager Responsibilities include planning and allocating resources to meet objectives coordinate and link groups departments and divisions within a company monitor and manage the production of subunits and individual managers who report to them implementing the changes or strategies generated by top managers First line managers hold positions like office manager shift supervisor and department manager Train and supervise non managerial employees monitoring teaching and short term planning Team leaders primarily responsible for facilitating team activities toward accomplishing a goal Help their team members plan and schedule work learn to solve problems and work effectively with each other LO4 Managerial Roles o o o o o o o Interpersonal roles Figurehead perform ceremonial duties such as greeting company visitors speaking at the o opening of a new facility or representing the company Leader motivate and encourage workers to accomplish organizational objectives Liaison deal with people outside of their units Information roles Monitor scan their environment for information actively contact others for information and o because of their personal contacts receive a great deal of unsolicited information Disseminator share the information they have collected with their subordinates and others in Spokesperson share information with people outside their departments and companies o the company Decisional roles Entrepreneur adapt themselves their subordinates and their units to change Disturbance handler respond to problems so severe that they demand immediate action Resource allocator decide who will get what resources and in what amounts Negotiator negotiate schedules projects goals outcomes resources and employee raises LO5 What companies look for in managers Technical skills the specialized procedures techniques and knowledge required to get the job done Become less important as managers rise through the ranks Human skills summarized as the ability to work well with others Equally important at all levels of management Conceptual skills ability to see the organization as a while to understand how the different parts of the company affect each other and to recognize how the company fits into or is affected by elements of its external environment Increase in importance as managers rise in hierarchy Motivation to manage an assessment of how motivated employees are to interact with superiors participate in competitive situations behave assertively towards others tell others what to do reward good behavior and punish poor behavior perform actions that are highly visible to others and handle and organize administrative tasks LO6 Mistakes managers make o o o o o o o o o o o o o o o o o Top ten mistakes managers make Insensitive to others abrasive intimidating bullying style Cold aloof arrogant Betray trust Overly ambitious thinking of next job playing politics Specific performance problems with the business Over managing unable to delegate or build a team Unable to staff effectively Unable to think strategically Unable to adapt to boss with difference style Over dependent on advocate or mentor LO7 The transition to management the first year More work faster paced Realize roles as problem solver and trouble shooter People management was most important role LO8 Competitive advantage through people Managers in top performing companies used ideas like Employment security Selective hiring Self managed teams and decentralization High pay contingent on company performance Extensive training Reduced status distinctions Sharing information Expectations about what they should be doing as a manager changes o o o o o External environments the forces and events outside a company that have the potential to influence or affect it LO1 Changing Environments change Environmental change the rate at which a company s general and specific environments Stable environments rate of environmental change is slow Ex Bread bakeries Dynamic environments the rate of environmental change is fast Ex Videogames Microsoft s Xbox o Punctuated equilibrium theory companies go though long simple periods of stability equilibrium during which incremental changes occur followed by short complex periods of dynamic fundamental change revolutionary periods which end with a return to stability new equilibrium Ex US airline industry affect organizations Ex Dairy industry Ex Newspaper business Environmental complexity the number and intensity of factors in the external environment that Simple environments have few environmental factors that affect organizations Complex environments have many environmental factors that affect organizations Resource scarcity the abundance or shortage of critical resources in an organization s external environment Ex LCD TV high building costs few buildings higher price TV Uncertainty the extent to which managers can understand or predict the external changes and trends affecting their businesses Lowest when environmental change and complexity are at low levels and resource scarcity is o small Highest when
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