SPH R 311 1nd Edition Lecture 2 Outline of Last Lecture I What is Management A Traditional Functions of Management B New Functions of Management II Early Management Survival Skills Outline of Current Lecture I Introducing Management A Working Today B Organizations in the New Workplace C Managers in the New Workplace D The Management Process E Learning How to Manage II Management Learning Past to Present A Classical Management Approaches B Behavioral Management Approaches C Modern Management Foundations III 10 Things Only Bad Managers Say Current Lecture I Introducing Management A Working Today The global economy is driven by innovation cost competitiveness and high technology The employers value people People and their talents are the ultimate foundations of organizational performances Intellectual capital the collective brainpower or shared knowledge of a workforce that can be used to create value Competency represents talents or job relevant capabilities while commitment represents willingness to work hard in applying them to important tasks Knowledge worker someone whose mind is a critical asset to employers Tech IQ is required in basic operations of organizations whether ones is checking inventory making a sales transaction ordering supplies or analyzing customer preferences Tech IQ ability to use technology and commitment to stay informed on the latest technological developments Global business that sere customers and suppliers wherever in the world they may be located and that hire talent from around the world wherever it may be available at the lowest costs Globalization the worldwide interdependence of resource flows product markets and business competition Ethics set moral standards of what is good and right in one s behavior applies to all levels of business Workforce diversity describes differences among workers in gender race age ethnicity religion sexual orientation and able bodiedness Minorities now constitute more than one third of the US population Prejudice the display of negative irrational attitudes toward members of diverse population There now seems to be a prejudice against working mothers Discrimination denies minority members the full benefits of organizational membership Glass ceiling effect an invisible barrier limiting career advancement of women and minorities Shamrock organization operates with a core group of full time longterm workers supported by others who work on contracts and parttime Free agent economy people change jobs more often and many on independent contracts with a shifting mix of employers Self management the ability to understand oneself exercise initiative accept responsibility and learn from experiences B Organizations in the new workplace Organization a collection of people working together to achieve a common purpose Open systems transform resource inputs from the environment into product outputs Open systems are 1 In a continual process of obtaining resource inputs 2 Transforming them people information resources capital into outputs in the form of finished goods and services for customers When operations add value to the original cost of resource inputs 1 A business organization can earn a profit sell more product for more than the costs of making it 2 Nonprofit organization can add wealth to society Productivity the quantity an wuality of work performance with resource utilization considered Performance effectiveness an output measure of task of goal accomplishment Performance efficiency an input measure of resource cost associated with goal accomplishment Changing nature of organizations 1 Renewed belief in human capital 2 Demise of command and control 3 Emphasis on teamwork 4 Preeminence of technology 5 Importance of networking 6 New workforce expectations 7 Valuing sustainability C Managers in the new workplace Manager person who supports activates and is responsible for the work of others Board of directors supposed to make sure an organization is run right elected by stockholders to represent their ownership interests Top managers guide the performance of the organization as a whole or of one of its major parts should pay special attention to the external environment and be alert to potential long run problem and opportunities Middle managers oversee the work of large departments or divisions work with top managers coordinate with peers and support lower levels to develop and pursue action plans that implement organizational strategies to accomplish key objectives Team leaders report to middle managers and supervise nonmanagerial workers Types of managers 1 Line managers directly contribute to producing the organization s good or services 2 Staff managers use special technical expertise to advise and support line workers 3 Functional managers responsible for one area such as finance marketing production personnel accounting or sales 4 General managers responsible for complex multifunctional units 5 Administrator manager in a public or nonprofit organization Accountability the requirement to show performance results to a supervisor flows upward Corporate governance occurs when a board of directors holds top management accountable for organizational performance Effective manager is someone who helps others achieve high performance and satisfaction at work Quality of work life QWL the overall quality of human experiences in the workplace High OWL workplace offers such things as fair pay safe working conditions opportunities to learn and use new skills room to grow and progress in a career and protection of individual rights and wellness Productivity and quality of working life should go hand in hand Customers are always at the top being served by workers who are supported by the managers D The Management Process Management process planning organizing leading and controlling the use of resources to accomplish performance goals Functions of management 1 Planning process of setting objectives and determining what should be done to accomplish them identifies desired results and ways to achieve them 2 Organizing process of assigning tasks allocating resources and coordinating work activities plans must be implemented 3 Leading process of arousing enthusiasm and inspiring efforts to achieve goals build commitments to a common vision encourage activities that support goals and influence others to do their best work on the organization s behalf 4 Controlling process of measuring performances and taking action to ensure desired