BNAD 302 9/3/13 Lecture 2 Outline of Last Lecture I. ManagementII. Rewards of Studying ManagementIII. 7 challenges to being an exceptional managerIV. Managing for competitive advantageV. What managers doOutline of Current LectureI. The Managers RolesII. EntrepreneurshipIII. The Skills Exceptional Managers NeedIV. Two Overarching Perspectives on ManagementCurrent LectureI. The Managers Roles: Mintzberg’s useful finding- A manager relies more on verbal than written communication- A manager works long hours at an intense pace- A manager’s work is characterized by fragmentation and varietyInterpersonal Roles- Managers interact with people inside and outside their work units- Figurehead, Leader, LiaisonInformational Roles- Managers receive and communicate information- Monitor, Disseminator, SpokespersonThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.Decisional Roles- Managers use information to make decisions to solve problems or take advantage of opportunities - Entrepreneur, Disturbance Handler, Resource Allocator, NegotiatorII. Entrepreneurship- Process of taking risks to try to create a new empire- Entrepreneur, Intrapreneuro Entrepreneur: work from outside a company or form a new ventureo Intrapreneur: work from inside a company- Necessity Entrepreneuro People who suddenly must earn a living and are simply trying to replace lost income, while another job comes along- Opportunity Entrepreneuro Those who start their business out of a burning desire and passionIII. The Skills Exceptional Managers Need- Technical Skillso The Job: specific knowledge needed to perform well in a specialized field- Conceptual Skillso The ability to think analytically, to visualize an org as a whole and understand how the parts work together- Human Skillso The ability to work well in cooperation w/ other people to get things doneThe most valued traits in managers- The ability to motivate and engage others - The ability to communicate- Work experience outside US- High energy levels to meet demands of global travel and a 24/7 worldEvidence Based Management- Translating principles based on best evidence into organizational practice, bringing rationality to the decision-making process- Pfeffer and SuttonIV. Two Overarching perspectives about management- Historical Perspectiveo Classical – Scientific and Administrativeo Behavioral – Early Behaviorists, HR Movement, Behavioral Sciences Approacho Quantitative – management science, operations management- Scientific Managemento Emphasized the scientific study of work methods to improve the productivity of indv workerso Frederick W. Taylor, Frank Lilian Gilbreth- Administration Managemento Concerned with managing the total