HME 4221 EXAM 1 In the history section of chapter 2 notice the foundation years and eras of management The first exam is on Chapters 1 7 Look for the bolded words such as goals resources feedback values and attitudes Also study Models illustrated and discussed and systems and economic theories and terminology Keep your eye out for major contributors such as Abraham Maslow maslow s hierarchy of needs Frederick Taylor father of scientific management and Martin Seligman to name only a few and what they did or said Study demographic changes such as life expectancy changes over the years Powerpoints will help but focus on the book CH 1 MANAGEMENT TODAY WHAT IS FAMILY RESOURCE MANAGEMENT Family resource management is an understanding of the decisions individuals families make about developing allocating resources including time money material assets energy friends neighbors space to meet their goals o Choice the act of selecting among alternatives o Risk possibility or perception of harm suffering damage or loss o Happiness the degree to which one judges the overall quality of his or her life as favorable Management the process of using resources to achieve goals Involves thinking action results o Considered an applied social science because its result oriented o Practical not simplistic choices constrained by limited resources depends how people handle them o Challenges when trying to initiate knowledge management include Arrogance the feeling that there is nothing new to learn Previous failed attempts why try again Lack of commitment drive and awareness why should i Lack of support energy or enthusiasm who cares Management process procedures involved in management thinking action results 1 Step 1 Identify Problem Need or Goal Problems questions dilemmas or situations that require solving Needs what we need to survive or sustain life wellness social interactions financial support info Wants things we desire more specific than needs Goals end results that require action for their fulfillment Goals are arranged in a hierarchy from fairly ordinary to extraordinary Values principles that guide behavior Clarification the process of making clear making easier to understand or elaborating 2 Step 2 Clarify Values Resources whatever is available to be used 3 Step 3 Identify Resources Standards the quantitative and or qualitative criteria reconciling resources with demands Standards must be adjusted during the management process 4 Step 4 Decide Plan Implement Decision making choosing between 2 or more alternatives Planning a series of decisions leading to actions or to need or goal fulfillment Implementing putting decisions or plans into action Feedback info that returns to the system 5 Step 5 Accomplish Goals Evaluate Was problem solved What we learned Which decisions plans worked which failed What adjustments should have been made Management tools measuring devices techniques or instruments used to arrive at decisions plan of action Putting Management Into Action o Successful planning helps individuals to Invest resources in the right tasks Encourage the development of goals Highlight important problems and opportunities Make decision making more efficient and effective Motivate and coordinate efforts Provide a feeling of growth and accomplishment Involve others o A fundamental management principle is that planning skill increases with knowledge practice effort o To be successful a plan needs to be realistic clear flexible well thought out executed Why Manage o Management takes people from where they are to where they want to go o Provides new ways of critiquing life situations offers new perspectives on nature of change o When frustrated or confused provides constructive order reduces chaos suggests steps to follow o Exciting challenging field of study Change oriented Economically culturally socially significant Dynamic intriguing complex Personally professionally rewarding Integral to developing leadership teamwork skills receptive to community involvement Who Manages o Everyone at all stages of life decisions involving school career or personal life o Multifaceted many concepts actions reactions organizing scheduling synthesizing analyzing resolving tension negotiating reach agreement mediating problem solving communicating Management style a characteristic way of making decisions acting o 5 factors influence styles history biology culture personality technology o Maslow s Hierarchy of Needs psychologist Abraham Maslow Self actualization highest level of need fulfillment of one s highest potential Esteem Belongingness love Safety Physiological needs o Technology provides the means by which humanity progresses Measures are easily observed measured The avg American spends 2 5 hours per day online President Rutherford B Hayes 1879 had first telephone installed in the White House 1880 Typewriter introduced to the White House 1891 during Benjamin Harrison s admin electric lights installed in White House Technology is more than a system of machines it can refer to ideas or ways of doing things Interdisciplinary Influences on the Study of Resource Management Deals with people their values their growth concerned with the social structure the community o Anthropology the science of human beings Unit of analysis communities subcultures or societies Focus drive Culture Cultural anthropology is most relevant applies to management on 2 levels set of general attributes of people in society group material culture object tools individuals families use Culture also refers to patterns Lifestyle the characteristic way or pattern in which an individual conducts his or her life o Psychology focuses on how individuals think behave Unit of analysis individuals Focus drive communication self knowledge Social psychology the study of individual behavior within a group Cognitive psychology explains the nature of human intelligence how people think o Sociology focuses on the collective behavior of social groups Unit of analysis social groups organizations communities families Focus drive conflict social disorder cohesion social order Sociologists study customs structures institutions how individuals function in groups Research connections between work family o Economics the social science concerned with production development management of material wealth at different levels households businesses or nations Unit of analysis households markets industries economies Focus drive value worth scarcity Stress the role of