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MGT 300: EXAM 1
Management is....? |
The attainment of organizational goals in an effective and efficient manner, through planning, organizing, controlling and leading. |
Planning is.... |
defines where the organization wants to be in the future and how to get there or defining goals for future organizational performance and deciding on the tasks and resources neede to attain them. |
Organizing is.... |
typically follows planning and reflects how the organization tries to accomplish the plan or assigning tasks, grouping tasks into departments, and allocating resources to departments. |
Leading is.... |
the use of influence to motivate employees to achieve organizational goals. |
Controlling means... |
monitoring employees' activities, determining whether the organization is on target toward its goals, and making corrections as necessary. |
The Four Management Functions are... |
Planning
Organizing
Leading
Controlling |
Conceptual Skills |
The cognative ability to see the organization as a whole and the relationships among its parts. (Think Strategically) |
Human Skills |
Is the managers ability to work with and through other people and to work effectively as a group member. (People Skills/Resolving Conflict) |
Technical Skills |
is the understanding of and proficiency in the performance of a specific task. (Trade/ ability to make something and important at lower level of organization and lead to promotion) |
New World Management |
-Technology
-Globalization
-Diversity
-New Ways of thinking |
Traditional Mindset |
-Tight top-down control
-Employment separation and specialization
-Manage by impersonal measurements and analysis |
5 things to do when managing crisis and Unexpected events |
-Stay Calm
-Be visible
-People before Business
-Tell the truth (good business= honest business)
-Know when to get back to business |
Managieral Jobs |
Variety
-fragmentation -Brief –interruptions ARE the job
(deal in information, work with people, make decisions) |
Reality |
-Global Competiton
-Cutbacks, Layoffs
- Shifts Worldwide
-Workforce diversity
-Power shaping:
-Decision making
-No perfect answers |
What are the three economic forces shaping management? |
Social
Political
Economic |
Social Forces... |
refere to those aspects of a culturethat guide and influence relationships among people. |
Political Forces... |
refer to the influence of political and legal insitutions on people and organizations |
Economic Forces.. |
pertain to the availability, production, and distribution of resources in a society. |
Classic Perspective |
The early study of management as we know it today.
About 100 years ago
-owners vs. workers |
Scientific Management |
Frederick W. Taylor
(Bethlehem Stell more productive using incentives and technological advances)
it emphasized scientifically determined changes in management practices as the solution to improving labor productivity. |
Bureaucratic Organizations |
Max Weber
it was a rational way to organize.
Systematic,fair and efficent
modeled after the German Army (Top-down management) |
Administrative Principles |
Henri Fayol
-Unity of Command
-Division of Work
-Unity of Direction
-Scalar Chain
functions
-planning
-organizing
-controlling
-commanding
-coordinating |
Humanistic Perspective |
emphasized the importance of understanding human behaviors, needs, and attitudes in the workplace as well as social interactions and group processes. |
Hawthorne studies |
Western Electric Company, attributed employees' increased output to managers' better treatment of them during the study.
-pay attention to people as if they are people rather than machines. |
Human Relations Approach |
dairy farm approach
happy cows give more milk
Abraham Maslow: Heirarchy of needs |
Abraham Maslow |
Human Relatoins Approach/ Heirachy of Needs |
Douglas McGregor |
Theory of X and Y |
Max Weber |
Bureaucractic Organziations Approach |
Frederick W. Taylor |
Scientific Approach |
Theory X |
People who dislike their work avoid responsibility, lack ambition and all they care about is job security |
Theory Y |
Enjoying work allows them to be creative, directed and not underutilized |
Behavioral Sciences Approach |
develops theories about human behaviors based on scientific methods and study. |
Management Science |
Using math for decision making in a business... such as forcasting, inventory control and linear programming. |
Systems Theory |
Converting environmental inputs into outputs |
Contingency View |
The decision is not universal it should be made depending on the circumstances. Each situation is unique. |
Learning Organization |
-everyone is engaged in problem solving
-strong adaptive culture
-information widely shared
-team based structure
-lots of participation
-managers roles changes |
External Environment |
Outside the walls of the organization |
Corporate Culture |
The internal company environment |
General Enviornment |
-international issues
-technological issues
-sociocultural issues
-economic issues
-legal/political issues |
Task Environment |
People in daily interaction with the company
-Customers
-Competitors (products, stratagies)
-Suppliers (raw materials)
-Labor Markets (access to high quality workers) |
Boundry Spanning Roles |
these people link and coordinate the organization with key elements in the external enviroment. Actions of competitiors mainly. |
Merger |
The combining of two or more organizations |
Joint Venture |
A strategic alliance or program by two or more organizations. |
Interorganizational Partnerships |
Working with other companies in your industry to be ahead of external factors. |
Visable Manifestations of Corporate Culture could be any of the following |
-Stories
-Slogans
-Ceremonies
-Symbols
-Heroes |
Adaptability Culture |
values risk taking, speed, experiments and trying new things |
Achievement Culture |
aggressive, reults driven, competitive, employees in competition, personal achievement is most rewarding |
Involvement Culture |
Places high value on human needs, equality |
Consistency Culture |
rational, systematic action, careful consideration and very Disciplined |
What are the FOUR Stages of Globalization? |
Domestic
International
Mutlinational
Global |
Domestic Stage |
Domestically oriented |
International Stage |
Export-oriented, multidomestic
very culturally sensitive |
Multinational Stage |
More than 1/3 of its sales are outside its home country |
Global (Stateless) Stage |
Making sales and aquiring resources in whatever country offers low cost and control.. top management tend to be dispersed. |
Market Entry Strategy |
An organizational stratedy for entering a foreign market. Most begin with exporting and work up to direct investment. |
Global Outsourcing |
Offshoring or engaging in the international division of labor so that work activitiescan be done in countries with the cheapest sources of labor and supplies. |
The Economic Environmental Hazards of International Business |
Low per capita income
Low infastructure/transportation/ level of education/communication
resource & Product Markets and Exchange rates |
The Legal/Political Environmental Hazards of International Business |
-Political Risk
-Political Instability
-Laws & Regulations |
Socialcultural Environmental Hazards of International Business |
-cultures
-Hofstede's value dimensions
-language
-ethnocentrism |
Hofstede's value dimensions |
1. Power Distance
2. Uncertainty avoidance
3.Individualism v. Collectivism
4.Masculinity v. Femininity |
Power Distance |
that people accept inequality in power among instituations, organizations, and people.
High-Africa Low-Denmark |
Uncertainty avoidance |
ambiguity (Low)
need for clarity (High) |
Individualism v. Collectivism |
Collect (social and team work) v. individual success |
Masuclinity v. Femininity |
Masc.. shows achievement, heroism, and material success
Fem. shows values of relationships, cooperation, and group decision making. |
GATT |
General Agreement on Tariffs and Trade
used to ensure fair play amoung member countries
Over 149 countries
BFF-give best deals to other members of GATT |
European Union |
Formed in 1957
now has more than 27 nations moving to include eastern europe. monetary change to the euro except to English pound |
NAFTA |
North American Free Trade Agreement
between US Canada and Mexico
breaks down tariffs on agriculture and manufacturing products.. mixed results. |
Ethics |
Right and wrong behavior
-standards
-internal views
-present when potential harm/benifit from situation |
Human behavior falls into three broad categories... |
1. codifided law (Judicial System)
2. Free Choice (Choosing major at college)
3. Ethics (in between the two) |
Ethical Dilemma |
A problem with no immeditly obvious or clear soluntion... |
Moral Agent |
One used to resolve ethical conflicts |
Managers can use 4 different criteria for ethical decision making... |
1. Utilitarnism
2. Individualism
3.Justice
4.Moral-Rights |
Utilitarian Approach |
The greatest good for all people. |
Individualism Approach |
What will be in my best interest (as an Individual)
-promotes honesty and integrity
but can cause trouble in the long run for stockholders |
Moral Rights Approach |
Decisions are moral when they maintain the rights of those people affected by them. An ethical decision is on that avoids interfering with the fundamental rights of others. (Six Moral Rights) |
Justice Approach |
Moral decision based on standards of equity, fairness, impartiality. |
What are the three stages of moral development |
Preconventional
2.Conventional
3. Principal |
Preconventional |
conform to societys expectations of good humor |
Principal |
People resolve ethical dilemmas by referring to an internal set of standards and values |
Social Responsibility |
the obligation of an organization to contribute to the welfare of society and an interest in their own company |