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39 Cards in this Set

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Business
Managers are charged with the responsibility of creating value for shareholders.
Example of "delicate nature of management"
National Australian Bank
-CEO, Oct 1990-1999: Don Argus
- responsible for huge, profitable international growth
- Frank Cicutto tookover in 2000 and NAB fell apart, selling overseas assets, losing market share, downsizing, large drop in stock value
Managers
getting things down through people and resources and providing direction and leadership
Management is the...
attainment of organizational goals in an effective and efficient manner through planning, organizing, leading and controlling organizational resources
Four management functions
planning, controlling, organizing, leading
Planning
The process of setting goals and deciding how best to achieve them.
Organizing
The process of allocating human and non-human resources so that plans can be carried out.
Leading
The process of influencing others to engage in behavior to reach organizational goals.
Controlling
The process of regulating organizational activities so that actual performance conforms to goals.
Mintzberg
Information
Interpersonal
Decisional
Information (mintzberg)
monitor (collecting info to stay in formed), disseminator and spokesperson (disseminating info)
Interpersonal (mintzberg)
figurehead (engaging in formal activities), leader, and liason (developping sources of information)
Decisional
entrepreneur (initiation of change), disturbance handler (works out disbutes), resource allocator, and negotiater (engages in formal negotiations)
Effectiveness
The degree to which the organization achieves a stated goal.
Efficiency
The use of minimal resources, raw materials, money and people, to produce a desired volume of output.
Katz
-Technical: the understanding of and proficiency in the performance of specific tasks
-Human: the ability to work with and through other people and to work effectively as a group member
-Conceptual: the cognitive ability to see the organization as a whole and the relationship among its parts
Planning
defining goals for future organizational performance and deciding on the tasks and use of resources needed to attain them
Ex: company = Komatsu, manufacturer of construction equipment
location = Japan
"G 2000" plan for pushing the company into high-tech initiatives
- part of planning is close monitoring of costs
Organizing
-involves the assignment of tasks, the grouping of tasks into departments and the allocation of resources to these departments
- organizing follows planning because it is the way in which the company tries to accomplish the plan
ex: company = Semco, makes industrial pumps
location = Brazil
- six people rotate as CEO, putting in 6 month stints
- employees set own work schedule and organize themselves
Leading
the use of influence to motivate employees to achieve organizational goals
- creating shared culture and values
- communicating goals and values to employees
- infusing employees with a desire to perform at a high level
Ex: Charlie Bell rose from being a part time kitchen hand at Mc Donalds to CEO
Controlling
monitoring employee activities, determining weather the organization is on target to meet its goals, and making corrections as necessary
Ex: company = Mars, Location = Australia: innovative open-face floor plan yet every employee clocks in and out as a measure of control
Organization
a social entity that is goal directed and deliberately structured
Effectiveness
the degree to which an organization achieves a stated goal
Efficiency
the amount of resources used to achieve a certain goal
QCD
quality, cost, delivery
Performance
the attainment of organizational goals by using resources in an efficient and effective manner
Management skills (3 categories)
conceptual
human
technical
Conceptual skills
the ability to see the organization as a whole and the relationship among its parts
Human skills
the ability to work with and through other people and to work effectively as a group member
- motivate, communicate, lead, facilitate, coordinate, resolve conflict
- hiring the proper people
- promotes a healthy work environment
- using questionnaires to gauge staff happiness
- importance of communication
Technical skills
understanding of and proficiency in the performance of specific tasks
Top managers
- at the top of the hierarchhy
- are responsible for the entire organization
Middle managers
- responisble for implementing the strategies and policies defined by top managers
- head business units and major departments
- generally concerned with near future
First line managers
- directly responsible for the production of goods and services
- application of rules and procedures to achieve efficient production
Project managers
responsible for temporary work project that involves the participation of other people in the organization
Functional manager
responsible for departments that perform a single functional task and have employees with similar training and skills
General manager
- several departments that perform different functions
- self-contained division
Hierarchical skill differences
- conceptual skills need MORE at the top
- technical skills need MORE at the first line
- human skills required at all levels
Hierarchical function differences
- planning more important at the top
- organizing more important for top and middle
- leading more important for supervisors
- controlling is common to all levels
Old paradigm of management
- focus on vertical organization
- markets: local, domestic
- workforce: homogenous
- technology: mechanical
- values: stability, efficiency
management competencies
- focus: profits
- leadership: autocratic
- doing work: by individuals
- relationships: conflict, competition
New paradigm of management
- focus on learning organization
- markets: global
- workforce: diverse
- technology: electronic
- values: change, chaos
management competencies
- focus: customers, employees
- leadership: dispersed, empowering
- doing work: by teams
- relationships: collaboration