MANAGEMENT TEST 1 REVIEW ORIENTATION Division 1 sports in business o Global 500 international top 500 businesses o Fortune 500 national top 500 businesses o these are based on total revenue Your own business o Skills needed Technical Leadership Business CHAPTER 1 WHAT IS MANAGEMENT Management Leadership o Management Manager person who supports and is responsible for the work of others Management execution o Leader Ideas vision plan o Question which would you say is not a skill of a manager Long range view Levels of Management o When an organization develops a top down structure it is called Traditional Top Managers guide the performance of the organization as a whole or one of its major parts these top managers always have to report to either a board of trustees or directors Middle Managers First Line Managers non managerial duties Military Religion Education Government oversee the work of large departments or divisions team leaders and supervisors in charge of people who perform o Traditional Pyramid exists in all sectors Business o Upside down pyramid view of organizations that puts customers at the top and being served by nonmanagerial workers who are supported by team leaders and higher level managers o Class example Gore company with no lables of position Roles of Managers management process o PLANNING o ORGANIZING o CONTROLLING o LEADING Setting performance objectives and deciding how to achieve them Arranging tasks people and other resources to accomplish the work Inspiring people to work hard to achieve high performance Measuring performance and taking action to ensure desired results Roles of Managers Mintzberg o The nature of all managerial work o INTERPERSONAL ceremonial roll representing organization interacting with other people Example Dom Thompson People ask him about economy figure head for McDonalds leader and liaison o INFORMATIONAL monitor what is going on in the world disseminate outside info then tell the world how we are going to be successful Example Steve Jobs presenting new technology the new ipad Skills of managers o DECISIONAL negotiate handle issues internal or external where will we put resources innovation application of info in decision making Example owner of Tetra o CONCEPTUAL the ability to think analytically and achieve integrative problem solving o HUMAN SKILLS the ability to work well in cooperation with other persons Emotional Intelligence The ability to manage ourselves and our relationships effectively Self awareness Self regulation Motivation Empathy Social skills o TECHNICAL SKILLS The ability to apply expertise and perform a special task with Career issues for Managers Leadership Competencies o Globalization job migration and world wide economy are changing the world of work proficiency reshoring o Governance failures of ethics and corporate governance are troublesome o Knowledge o Ethics o Diversity are continuing social priorities o Self Management intellectual capital and self management skills are essential for career success CHAPTER 2 In time Place our focus 1 Management is global 2 Practiced for all of time Three Approaches to Management 1 CLASSICAL 1 Scientific Management Frederick Taylor Develop a science for each job Hire workers with right abilities Train and motivate workers Support Workers Example standardizing shovels research shovel GOAL secure maximum prosperity for employer and productivity to see what works employee Example Henry Ford and mass production BMW plant today with measurements and robots 2 Bureaucratic Organization Max Weber Clear Division of labor Formal rules and procedures Hierarchy of authority Impersonal Careers based on merit Key Power ability to coerce actions Authority actions taken voluntarily Example NASA makes things difficult to happen Solution to bureaucracy lunar lion privatizing space industry 3 Administration Principles Henri Fayol Process of management Foresight Planning Organization Command Coordination Control Keys Scalar Principal clear communication in all levels of organization 2 BEHAVIORAL human resources approaches Unity of Command one boss per person 1 Elton Mayo Hawthorn Studies Western Electric studies on human relations Studied Use of economic incentives Change of physical conditions Fostered group cohesion Result No direct relationships found Researcher attention was key Groups have negative positive influence Hawthorn Effect tendency to live up to expectations Productivity increased no matter what the incentive 2 Douglas McGregor Theory X and Y Keys 1 Reflects ways managers manage today 2 Practically a mix of both approaches is used Need for micromanaging comes from theory x 3 Abraham Maslo Human needs theory Hierarchy of needs Social needs On Boarding make some friends young people hanging out to go golfing boating etc or else you will not make it Self actualization 1 Progression Principal need to keep moving up the ladder 2 Deficit Principal 3 MODERN mixture of the two previous 1 Operations and management Science Network models Forecasting what will things be like What do we need Inventory analysis Queuing Theory understanding how people will behave down the line Business Analytics Big data Scientific Examples 2 Customer Driven Open Systems INPUTS People Money Materials Technology Information Business creates work resource to outputs transforming OUTPUTS Finished Goods Completed Services 3 Contingency Thinking Example business space 4 Quality Management Evidence Based Management Quality Management Six Sigma Lean Principles process improvement Reduction of waste CHAPTER 3 ETHICS IN BUSINESS Ethics Introduction o Awareness judgment and behavior o PONG Personal most important Organizational National Global o of workers perceiving pressure to commit misconduct o 5 most frequent observed misconducts 1 abusive behavior 2 bad internet use 3 lying to employees 4 conflict of interest 5 discrimination Theory Practice o Set of principals Right Conduct Underlying Values o International Business Ethics Cultural Relativism Moral Absolutism Hyper Norms when in Rome do as the Romans do you bring your standards from your country to others something that people believe in EVERYWHERE o Conventional Approach Societal Norm Focus If we based ethics off of what is normal or common we would have poor perception of what is ethical o Branches of Ethics What is descriptive ought to be normative Corporate Ethics
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