Management - Jay

Front 1

Business

Back 1

Managers are charged with the responsibility of creating value for shareholders.

Front 2

Example of "delicate nature of management"

Back 2

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

Front 3

Managers

Back 3

getting things down through people and resources and providing direction and leadership

Front 4

Management is the...

Back 4

attainment of organizational goals in an effective and efficient manner through planning, organizing, leading and controlling organizational resources

Front 5

Four management functions

Back 5

planning, controlling, organizing, leading

Front 6

Planning

Back 6

The process of setting goals and deciding how best to achieve them.

Front 7

Organizing

Back 7

The process of allocating human and non-human resources so that plans can be carried out.

Front 8

Leading

Back 8

The process of influencing others to engage in behavior to reach organizational goals.

Front 9

Controlling

Back 9

The process of regulating organizational activities so that actual performance conforms to goals.

Front 10

Mintzberg

Back 10

Information
Interpersonal
Decisional

Front 11

Information (mintzberg)

Back 11

monitor (collecting info to stay in formed), disseminator and spokesperson (disseminating info)

Front 12

Interpersonal (mintzberg)

Back 12

figurehead (engaging in formal activities), leader, and liason (developping sources of information)

Front 13

Decisional

Back 13

entrepreneur (initiation of change), disturbance handler (works out disbutes), resource allocator, and negotiater (engages in formal negotiations)

Front 14

Effectiveness

Back 14

The degree to which the organization achieves a stated goal.

Front 15

Efficiency

Back 15

The use of minimal resources, raw materials, money and people, to produce a desired volume of output.

Front 16

Katz

Back 16

-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

Front 17

Planning

Back 17

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

Front 18

Organizing

Back 18

-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

Front 19

Leading

Back 19

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

Front 20

Controlling

Back 20

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

Front 21

Organization

Back 21

a social entity that is goal directed and deliberately structured

Front 22

Effectiveness

Back 22

the degree to which an organization achieves a stated goal

Front 23

Efficiency

Back 23

the amount of resources used to achieve a certain goal

Front 24

QCD

Back 24

quality, cost, delivery

Front 25

Performance

Back 25

the attainment of organizational goals by using resources in an efficient and effective manner

Front 26

Management skills (3 categories)

Back 26

conceptual
human
technical

Front 27

Conceptual skills

Back 27

the ability to see the organization as a whole and the relationship among its parts

Front 28

Human skills

Back 28

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

Front 29

Technical skills

Back 29

understanding of and proficiency in the performance of specific tasks

Front 30

Top managers

Back 30

- at the top of the hierarchhy
- are responsible for the entire organization

Front 31

Middle managers

Back 31

- responisble for implementing the strategies and policies defined by top managers
- head business units and major departments
- generally concerned with near future

Front 32

First line managers

Back 32

- directly responsible for the production of goods and services
- application of rules and procedures to achieve efficient production

Front 33

Project managers

Back 33

responsible for temporary work project that involves the participation of other people in the organization

Front 34

Functional manager

Back 34

responsible for departments that perform a single functional task and have employees with similar training and skills

Front 35

General manager

Back 35

- several departments that perform different functions
- self-contained division

Front 36

Hierarchical skill differences

Back 36

- conceptual skills need MORE at the top
- technical skills need MORE at the first line
- human skills required at all levels

Front 37

Hierarchical function differences

Back 37

- planning more important at the top
- organizing more important for top and middle
- leading more important for supervisors
- controlling is common to all levels

Front 38

Old paradigm of management

Back 38

- 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

Front 39

New paradigm of management

Back 39

- 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