MANGMT 3000 1st Edition Exam 1 Study Guide Lectures 1 7 Lecture 1 August 25 Managers operate within an org Organization group of people who work together to achieve some specific purpose To create value in the form of social benefit or profit Management Pursuit of org goals efficiently and effectively by integrating the work of people through planning organizing leading and controlling the org s resources tangible and intangible To be efficient means to use resources money people raw materials and the like wisely and cost effectively Improve output input ration get more while using less To be effective means to achieve results to make the right decisions and to successfully carry them out so that they achieve org goals Reach goals outputs Competitive advantage the ability of an org to produce goods or services more effectively than competitors do thereby outperforming them Providing a product service in a way that customers value more than any competitor s product service Lecture 2 August 27 What managers do the four principal functions Planning What are you going to do You set goals and decide how to achieve them Organizing what do you need to do it you arrange tasks people and other resources to accomplish the work Leading how are you going to do it you motivate direct and otherwise influence people to work hard to achieve the org s goals Controlling did you do it you monitor performance compare it with goals and take corrective action as needed Levels areas of management Top managers make long term decisions about the overall direction of the org and establish the objectives policies and strategies for it Middle managers Implement the policies and plans of the top managers above them and supervise and coordinate the activities of the first line managers below them First line managers make short term operating decisions directing the daily tasks of nonmanagerial personnel Nonmanagerial personnel 3 types of managerial roles Interpersonal roles interact with people inside and outside their work units figurehead leader liaison Informational roles managers receive and communicate info monitor disseminator spokesperson Decisional roles managers use info to make decisions to solve problems or take advantage of opportunities entrepreneur disturbance handler resource allocator negotiator Lecture 3 September 3 Principles of scientific management 1 2 3 4 Scientifically study each part of the task Carefully select workers with the right abilities Give workers the training and incentives to do the task Use scientific principles to plan the work methods a Time and motion standards b Productivity measures c Calibration measure of work Administrative management concerned with managing the total org rather than individual workers Henri Fayol French engineer and industrialist First to identify the major functions of management Systemized the study of management Believed a good manager was the most important ingredient in the success of the org Max Weber Believed that a bureaucracy was a rational efficient ideal org based on the principles of logic Good org was the most important ingredient in success Five positive bureaucratic features 1 2 3 4 5 Well defined hierarchy of authority power Formal rules and procedures Right answers Clear division of labor expertise specialize Impersonality not name Careers based on merit fair rewards Classical viewpoint One right way tool pace worker Work alone Incentive is 0Seprate workers from managers Focus on good managers good org design 1 product mass production Push Problem with classical viewpoint Mechanistic Views humans as cogs within a machine not taking into account the importance of human needs Why the classical viewpoint Work activity was amendable to a rational approach Behavioral viewpoint Many tools paces workers Working in groups Incentives aren t just Integrate mangers with workers Focus on good communication Good relationships dynamic Many product customization Pull Early behaviorism studied by Hugo Munsterberg Mary Parker Follet Hawthorne effect employees worked harder if they received added atention thought that mangers cared about their welfare and that supervisors paid special atention to them Determined by Elton Mayo Human relations movement Proposed that beter human relations could increase worker productivity Abraham Maslow and Douglas McGregor Satisfied worker is a good worker Maslow s Hierarchy of Needs Self actualization esteem social safety physiological Theory X vs Theory Y Douglas McGregor Theory X stick approach since people hate work Represents a pessimistic negative view of workers Workers are irresponsible resistant to change lack ambition hate work and want to be led Theory Y carrot approach since people like work Represents an optimistic positive view of workers Workers are considered capable of accepting responsibility self direction self control and being creative Behavioral is criticized because a happy workers isn t necessarily a good worker Lecture 4 September 8 Planning what are you going to do Coping with uncertainty by formulating courses of action to achieve specific results Setting goals and deciding how to achieve them Four basic strategy types Reactors makes adjustments only when finally forced to by environmental pressures Adaptive cycle businesses are continuously cycling through decisions about three kinds of business problems 1 Entrepreneurial 2 engineering 3 administrative Mission statement expresses purpose of the org Vision statement long term goal describing what an org wants to become Clear sense of future and the actions needed to get there 3 types of planning for three levels of management Strategic planning determine what the org s long term goals should be for the next 1 5 years with the resources they expect to have available Tactical planning determine what contributions their departments or similar work units can make during the next 6 24 months Operational planning determine how to accomplish specific tasks with available resources within the next 1 52 weeks Lecture 5 September 10 Goals specific commitment to achieve a measurable result within a stated period of time Also known as an objective Strategic goals set by and for top management and focus on objectives for the organization as a whole Tactical goals set by and for middle managers and focus on the actions needed to achieve strategic goals Operational goals set by and for first line managers and are concerned with short term maters