I ve never missed a single class and take pride in my notes including brief explana tions in laments terms of concepts Kinney wants us to grasp This Study Includes In Class Powerpoint Notes which have been highlighted or bolded based on Professors emphasizes Study Questions provided by McGraw Hill Chapter 1 Management What you do and how you do it Management What It is What Its Benefits Are accomplishing the organizations goals management is defined as the pursuit of organizational goals and efficiently and effectively by integrating the work of people through get them to work together planning organizing leading and controlling the organization s resources To be efficient me ants to use resources people money raw material and the like wisely and cost effectively best job with lease amount of resources To be effective means to achieve results to make the results to make the right decisions and to successfully carry them out so that they can achieve organizational goals get the desired results effect Rewards of Studying Management understanding how to deal with organizations from the outside understanding how to relate to your supervisors how to manage your manager guide them to do what you want them to do understanding how to interact with coworkers understanding how to mange yourself in the workplace how to mange your own career greater ability to guide your own path through the organization Rewards of Practicing Management you and your employees can experience sense of accomplishment you can stretch your abilities and enhance the lives of others as well as yourself you can build a catalog of successful products or services you will be the boss Seven Challenges to Being a Star Manager managing the competitive advantage staying ahead of rivals produce more efficiently than your competition managing for diversity the future won t resemble the past educational and technology requirements managing the globalization the expanding management universe managing for information technology managing for ethical standards ethics in accounting develop high code of ethical stan dards need to instill among people who work for you managing for sustainability the business of green managing for your own happiness and life goals Companies don t want a workaholic workaholics won t have average people perspectives on families goals etc won t have other goals and perspectives into our companies future Managing for Competitive Advantage Competitive advantage the ability of an organization to produce goods or services more effectively than competitors do thereby outperforming them Managing for Information Technology by 2012 more than a billion consumers are projected to spend 1 2 trillion online and online commerce between businesses will be 10 times larger totaling 1 2 trillion information technology has facilitated e business using the Internet to facilitate every as pect of running a business Managing for Sustainability economic development that meets the needs of the present without com promising the ability of future generations to meet their own needs What Managers Do The Four Principal Functions planning you set goals and decide how to achieve them organizing you arrange tasks people and other resources to accomplish the work leading you motivate direct and otherwise influence people to work hard to achieve the organization s goals controlling you monitor performance compare it with goals and take corrective action as needed Pyramid Power Levels of Areas of Management 1 Top Managers 5 7 years strategic managers 2 Middle Managers take direction from above and pass it to first line managers pass informa tion from first line to top managers and vice versa first to go during economic down turn 2 3years tactical managers 3 First line managers take direction from above and then get it done 1 52 weeks operational managers should be comfortable to do all the jobs of the people who report to the first line manager communication skills 4 Non management personnel R D Marketing Finance Production HR Functional Areas The Entrepreneurial Spirit Entrepreneurship innovation creating something new promote entrepreneurial spirt as a manager constantly asking how to do better how to innovate process of taking risks to try to create a new empire entrepreneur someone who starts a new company that grows intrapreneur has same ideas and motivations but uses them within a company The Most Valued Traits in Managers the ability to motivate and engage others the ability to communicate work experience outside the United States High energy levels to meet the demands of global travel and a 24 7 world To be means to use resources including people money and raw materials wisely and cost effectively A resourceful B proficient C efficient D effective E competent According to productivity expert Odette Pollar If you truly like people and enjoy mentoring and helping others to grow and thrive A do not seek multiple promotions B you will have to pay your dues first C management may be too stressful for you D resist the temptation to switch jobs frequently To maintain competitive advantage an organization must stay ahead in which of the following areas When an organization uses every aspect of running the business is facili tated by the Internet E management is a great job A innovation B internal feedback C speed D human resources E marketing A collaborative computing B project management software C e business D databases E e commerce A advising B innovating C implementing D organizating E discovering A correcting B planning C leading D controlling E organizing The management process includes which of the following management functions When a college of medicine discovers that nursing student enrollments are down from the previous years and decides to update the courses offered it is performing which of the functions of management A director of research and development is what type of manager A top manager B general manager C utility manager D first line manager E functional manager The purpose of a nonprofit organization is to A make money through offering products or services B offer services to some clients C break even in offering its products or services D professionally manage charitable giving E advance member interests Which of the following is an interpersonal managerial role A negotiator role B monitor role C leader role D spokesperson role E disturbance handler role A high self confidence B motivated by organizational
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