Chapter 1 Management What is Management Process series of activities for planning deciding and evaluating Resources assembling and using resources Tasks acting in a goal directed manner to accomplish tasks Activities organization of setting activities to achieve goal Managerial Challenges 4 Managing Change The only thing constant is change Most persistent pervasive and powerful challenge to managers Requires managers to gain employee acceptance Globalization must maintain awareness to make decisions goals different ethics policies across countries increases competition Other cause technology which is constantly growing Managing Resources Efficient use of resources financial capital human resources physical resources technology intellectual capital ex allocating units of labor managing motivating employees using tangible equipment Globalization import export Managing Strategically Establish goals and strategies for achieving them Implement strategies by accomplishing goals that contribute to organization s ultimate performance Build an organization s capabilities and leverage them for competitive advantage Globalization Managing Entrepreneurially Searching for new opportunities Identifying new ideas for markets Emphasizing actions to take advantage of uncertainty Globalization be aware of products in international market What Managers Do Managerial activities differ by Functions of managers 4 Planning o Estimating future conditions and circumstances o Setting goals predictions plans and making decisions about what work is to be done by managers subordinates o 3 types of planning Strategic for long range goals Tactical turns strategic goals into actions to achieve shorter term goals Operational more specific actions of particular units Organizing o Using structure of relationships among positions and the people occupying those positions for strategic direction o Defining roles and responsibilities o Ex what units should be represented on project teams Directing Leading Controlling o Influencing other people to attain organizational objectives Motivating others incentives Communicating in support of others efforts to influence Interacting effectively in groups and teams o Regulating the work of those that a manager is responsible for Setting standards of performance in advance Monitoring ongoing performance Assessing a completed performance Feeding back results of the evaluation control process Roles in which managers operate 3 Interpersonal to the planning process o Figurehead ceremonial activities showing the flag attending social function welcoming visiting dignitary o Leader influencing or directing others o Liaison contacting others outside the formal chain of command internal and external other managers suppliers gvt officials customers o Monitor seeking info to be aware of crucial developments competition prices o Disseminator receiving higher info and send to subordinates o Spokesperson representing views of the unit Informational Decisional o Entrepreneur exploring new opportunities making changes o Disturbance handler act as judge problem solver in conflicts among employees o Resource allocator deciding how resources will be distributed allocating workers or material o Negotiator making accommodations with other units joint ventures Dimensions of each manager s job 3 Demands o Types activities duties or standards levels of minimum performance o Sources organization immediate boss o Attending required meetings adhering to scheduled required deadlines following procedures targets o Time budget technology attitudes of subordinates legal Constraints regulations Choices o How work is to be done how much work organizational structure of team budget allocations sequencing of tasks advertising promotions What skills do managers need Technical specialized knowledge important for entry level managers and for entrepreneurial firms at higher levels use more conceptual skills Interpersonal o Sensitivity o Persuasiveness o Empathy o Logical reasoning o Judgment o Analytical Conceptual cognitive ability complexity Chapter 2 Ethics Basic Approaches to Ethics Frameworks for ethical decision making 4 Utilitarian approach Focus on consequences of action subjective o What is the greatest good even if must do bad to get there o Ex pay extra fee to get grain to poor quickly Moral rights approach Focus on moral standing right or wrong of actions rather than consequences o When two actions have moral standing then the positive or negative consequences of each will determine the more ethical o Ex even though don t have written contract treat them respectfully Universalism approach Do unto others as you would have them do unto everyone including yourself o Choose course of action that can apply to all people situations o The issue of rights rights stem from freedom and autonomy o Actions that limit rights generally lack moral justification Justice approach Costs and benefits of actions should be equal rules should be impartially applied and those damaged should be compensated o Distributive Justice o Procedural justice Equal distribution based on performance Ensure that people consent to decision making process Ensure that the process is administered impartially o Compensatory justice If distributive and procedural justice fail those hurt by inequitable distribution of rewards are compensated Understanding basic approaches Ethical dilemma choice btw 2 competing but arguably valid options Ethical lapses decisions that are contrary to an individual s stated beliefs and policies of the company Moral Intensity in Ethical Decision Making 6 Moral intensity the degree to which people see an issue as an ethical one Magnitude of the consequence Level of impact anticipated Social consensus o Ex 20 increase in price of a good vs 500 persons being killed Extent to which society members agree that act is either good or bad population diversity weakens social consensus o Ex more people think drunk driving is worse than speeding Probability of effect How likely people think the consequences are the higher probability the more intense the sense of ethical obligation o Ex high prob of injury in accidents high moral intensity for car manufacturers to make safer cars Temporal immediacy Interval between the time the action occurs and the onset of its consequences the greater time interval the less intensity o Ex impact of pollution Proximity The closeness the decision maker feels to those affected the closer the
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