1 Chapter 1 Organization group of people who work together to achieve some specific purpose Management The pursuit of organizational goals Efficiency use resources wisely and cost effectively Ex People money raw materials Effectiveness achieves results make right decisions successfully carry out to achieve the organizational goals Integrating the work of people through Planning Organizing Leading Controlling organizations resources Rewards of Studying Management 1 Dealing with organizations from the outside We are in constant interaction with other organizations May give us some defensive skills that can help deal with certain Situations 2 Learn to relate to supervisors 3 Learn to interact with coworkers Understand the pressure they deal with and how they will respond Understand team work cultural differences negotiations etc 4 How to manage yourself in the workplace Insight on yourself values personality emotions needs and goals Help build skills listening handling stress avoiding group think Rewards for practicing management 1 Sense of accomplishment Personal satisfaction and of employees who helped 2 Stretch abilities and magnify range Promotion up the hierarchy challenges your skills 3 Build a catalog of successful products services Help run your own business becomes a monument 4 7 Challenges to being an exceptional manager 1 Managing for competitive advantage ability to produce goods or services more effectively than competitors do Being responsive to customers without customers there would be no organization they are the justification of the organization s existence Innovation finding new ways to deliver better goods or services Quality the customer will only put up with mediocre quality when there is no other choice 2 Efficiency companies strive to produce goods services as quickly as possible using the fewest employees as possible 2 Managing for diversity The challenge is to maximize the contributions of employees diverse in gender age race and ethnicity 3 Managing for globalization Gestures and symbols don t have the same meanings Not understanding such differences can effect how organizations manage Globally 4 Managing for information technology By 2015 1 4 trillion will be spent online that is a 13 5 rise e business using the internet to facilitate every aspect of running a business Implications of e business a far ranging e management e communication 21st century managers will find themselves responsible for creating motivating and leading specialists around the world Will required them to master organizational communications create concise powerful emails voice mail message b Accelerated decision making conflict and stress c Changes in organizational structures jobs goal setting and knowledge management Knowledge management implanting of systems and places to increase the sharing of knowledge and information Collaborative computing state of the art computer software and hardware will help work better together 5 Managing for ethical standards With the pressure to meet sales production and other challenges managers can find themselves in ethical dilemmas Ethical behavior is an important part of business 6 Managing for Sustainability the business of green Defined as economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs 7 Managing for your own happiness and life goals Some may not find it fulfilling caught in between subordinates and bosses Four Principle functions of managers 1 Planning defined as setting goals and deciding how to achieve them 2 Organizing arranging tasks people and other resources to accomplish the work 3 Leading motivating directing and influencing people to work hard to achieve goals 4 Controlling monitoring performance comparing it with goals and taking corrective actions 3 3 Level of management 1 Top managers CEO chief executive officer or COO chief operating officer Make long term decisions about the overall direction to the organization and establish the a objectives b policies strategies to deal 2 Middle managers implement the policies and plan of the top managers above them and supervise the coordinate the activities of the first time managers below them 3 First time managers make short term operating decisions directing the daily tasks of no managerial personnel 4 Area of Management Functional manager responsible for just one organization activity leading specialized activity makes you functional General manager responsible for several organizational activities Skills needed by exceptional managers Technical skills the job specialized field needed in job specific knowledge Conceptual skills the ability to think analytically normally most important among first line managers visualize an organization as a whole understand how the parts work together important for top managers who must deal with ambiguous problems Human skills most difficult set of skills to master ability to work well in cooperation with other people to get things done ability to motivate inspire trust and communicate with others important for all levels 5 3 Types of Managerial Roles 1 Interpersonal roles figurehead leader liaison People interact with people inside and outside of their work units 2 Information roles monitor disseminator spokesperson Vital because accurate information is necessary for intelligent decisions receive and communicate information 3 Decisional roles entrepreneur disturbance handler resource allocator negotiator Managers use information to make decisions to solve problems or take advantage of situations Entrepreneurial Spirit take risks to create new empire Entrepreneur sees a new opportunity for a product or service and launches a business to try to realize it Intrapreneur inside an existing organization who sees an opportunity for a product service and mobilizes the organizations resources to try to realize it 5 reasons for studying this chapter Chapter 2 1 Understand the present sound theories help us interpret the present to understand what is happening and why Understanding history will help understand the present 2 Guide our actions good theories help us predict and help develop sets of principles that will guide our actions 3 Source of new ideas can also provide new ideas that may be useful to when you come up against new situations 4 Clues to meaning of your managers decision understand firm s focus where top managers are coming form 5 Clues to meaning of outside
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