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86 Cards in this Set
- Front
- Back
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Management
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the pursuit of organizational goals efficiently and effectively by integrating the work of people through planning, organizing, leading and controlling the organizations resources
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Efficiency
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to use resources
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effectivness
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to achieve results
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Challanges of being a good manager
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-Managing for competitve advantage
-Managing for diversity -managing for globalization -Managing for ethics -Managing for information and technology -Managing of your own personal happiness |
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Managing for competitive advantage
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staying head of the rivals by:
--being responsive to consumers --innovation --Quality --efficiency --the ability of an organization to produce goods and services more effectively than compeititors, thereby outperforming them |
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Managing for diversity
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the future won't resemble the past
--challange of the manager to maximize employee contributions in diverse gender, race, ethnicity and age |
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Managing for Globalization
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The expanding Management universe
--understanding differences in other countries can affect how welll organizations manage globally --off shoring, on shoring, out sourcing |
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Managing for info and technology
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Managers gave to keep up with the speed of technologies and be able to communicate with employees through such technologies
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Managing for ethical standards
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what do you do when a product is damaged? do you ship it out anyway to meet deadlines or do you not send out it because its damaged
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Managing of your own personal happiness and life goals
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does meeting the requirements of management also meet the needs of your own personal happiness
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Financial benefits of practicing management
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managers are paid more, whether their CEO's or general store managers they make more money than employees
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benefits of studying managerment
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-learn how to deal with organizations from the outside
-learn how to relate to superiors -understand how to interact with co-workers -understand how to manage yourself in the work place |
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benefits of practicing management
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stretch ablitites to magnify your range
-build a catalog of successful products/services |
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Four functions of management
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planning, organizing, leading, controlling
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planning
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setting goals and deciding how to achieve them
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organizing
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aranging tasks, people and other resources to accomplish the work
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leading
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motivating, directing and otherwise influencing people to work hard to achieve the organizations goals
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Controlling
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monotoring performance, comparing it with goals and taking corrective action as needed
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Levels of management
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top, middle, first line
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Top Managers
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make long term decisions about the overall direction of the organization and establish objectives, policies and strategies for it--long time period (more than 5 years)
--tHC --must pay attention to outside enviornment, be alert for long run opportunities and be able to problem solve |
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Middle managers
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implement the policies and plans of the top managers above them and supervise and coordinate the activities of the first line managers below them--2-3 years
--THC |
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First-Line manager
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make short term operating decisiosn, directing the daily tasks of employees-a wear to a year out, they get the goals met
--THc |
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Technical skills
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conisst of job specifc knowledge needed to perform well in a specialized field
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Conceptual skills
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consists of the ability to think analytically
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Human skills
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ability to work well in cooperation with other people to get things done
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Areas of management
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general and functional
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Functional manager
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Responsible for just 1 ogranized activity
--leading specialized research and development activity, engineer, acounnting, law |
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General Manager
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responsible for several organizational activities
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Managerical Roles
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interpersonal, informational, decisional
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interpersonal managerical role
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managers interact w/ people inside and outside of their work, when you think of the company you think of this persons face
--figurehead, leader, liaison |
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Informational
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Managers receive and communicate information with other people inside and outside the organization, pass info up and down the chain
--monitor, disseminator, spokesperson --most important part of a managers job |
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Decisional roles
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managers use information to make decisions to solve problems or take advantage of opportunities, the one who handles the disturbances and negotiates problems
--4 roles: entrepreuner, disturbance, resource allocator, negotiator |
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Entrepreneurship
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the process of taking risks to try to create a new enterprise
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Intrapreneur
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person who is very good at working the organization to make the ideas of the entrepreneur happen
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Entrepreneurial spirit
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high need for achievement
belief in personal control of destiny High energy level and action orientatio high tolerance for ambiguity self confidence and tolerance for risk |
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2 perspectives of management
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historical and classical
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historical perspective
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3 viewpoints--classical, quantative, behavioral viewporint
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Scientific management
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--historical perspective under classical branch
--emphasizes the scientific study of work methods to improve the productivity of individual workers problem: too mechanistic; see's humans as cogs of a machine and doesn't factor in human needs --4 principles of science to avoid slacking off 1.) Evaluate a task by scientifically studying each task 2.) Carefully select the right workers for the right jobs 3.) Give worked training and incentives to do a good job 4.) Use principles to plan the work methods and ease the way for worked to do their jobs |
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Administrative Management
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is concerned with managing with the total organization and the functioning of bureaucracies.
--A better-performing organization should include: Well defined hierarchy Formal rules and procedures Clear division of labor Impersonality Careers based on merit |
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Classical viewpoint
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emphasizes ways to make managing easier--efficiency of the job
--historical perspective |
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behavioral viewpoint
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emphasized the importance of understanding human behavior and of motivating employees toward achievement. 3 parts; early behaviorism, the human relations movement, behavioral science---how can we involve people to improve producitivy
--hawthorne effect, Maslow's hierarchy or needs, X/Y theories --historical perspective |
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Quantative viewpoint
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emphasizes the application to management of quantitative techniques such as stats and computer simulations. Two branches: Management science & operations management
--historical perspective |
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Management science
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focuses on using math to aid problem solving & decision making, deciding how many package sorters you need at which times for an overnight delivery
--quantative viewpoint |
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Operations Management
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Managing the productions and delivery of an organization’s products or services more efficiently, jetblue deciding which planes fly where
---quantative viewpoint |
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contemporary perspective
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Systems, contingency, quality management
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systems viewpoint
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regards the organization as a system of interrelated parts
---Looks at the organization as many subsystems or as part of a larger environment --contemporary viewpoint |
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System
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1.) .) Inputs-people, money, info, eqiuptment and materials required to produce goods—things going in
2.) Outputs-products, services, profits, losses employee satisfaction/discontent and the like that are produced by the organization—things going out 3.) Transformation processes-organizations abilities to convert input into output 4.) Feedback-info about the reaction of the environment to the outputs that affects the imputs |
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Contingency Viewpoint
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emphasizes that a managers approach should vary according to the individual and environmental situation—pick the best one based on the situation
--contemporary perspective |
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Quality-Management Viewpoint
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includes quality control-minimal erros
quality assurance-focus on the defect and total quality management |
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total quality management
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A comprehensive approach—4 components
--Make continuous improvement a priority. --Get every employee involved. --Listen to & learn from customers & employees. --Use accurate standards to identify & eliminate problems |
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6-sigma
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a set of practices developed to systematically improve processes by eliminating defects---close to perfection
Define, measure, analyze, improve, control, feedback, repeat……. |
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Stackholders
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people whose interests are affected by an organizations activities
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Internal stackholder
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consist of employees, owners, and the board of directors, if any.
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External stackholder
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people or groups in the organization’s external environment that are affected by it.
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task enviornment
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11 groups :
Customers Pay to use an organization’s goods and services Competitors Those that compete for customers or resources Suppliers Provides supplies to your own and other organizations Distributors Helps another organization sell it’s goods and services Strategic allies Join forces to achieve advantages neither could do alone Employee organizations Unions and associations Local communities All those reliant on a particular organizations success Financial institutions Community banks, mega-banks, credit cards…. Government regulators Regulatory agencies that establish ground rules for operation Special-interest groups Groups that work to exert influence specific issues Mass media Public relations team tasked with communicate effectively with press |
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The Genera/Macrol Enviornment
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6 forces:
Economic Unemployment, interest rates, economic growth, productivity rate Technological Computer, communications, biotechnology, research Sociocultural How a country’s or society’s cultural values affect an organization Demographic How characteristics of a population affect an organization Political-legal How politics and laws pose opportunities and threats International How global changes affect an organization |
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4 approaches to deciding an ethical dilema
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-utilitarian
-individual -moral rights -justice |
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Sarbanes Oxley
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Establishes requirements for proper financial record keeping for public companies and penalties for non-compliance
--passed because companies were doing bad things, this has changed behavior |
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How organizations promote ethics
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-support by top managers of a strong ethical climate
-ethics codes and training programs -rewarding ethical behavior |
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Diversity
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: represents all the ways people are unlike or alike—the differences and similarities in age, gender, race, religion, ethnicity, sexual orientation, capabilities, and socioeconomic background.
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Internal dimensions of diversity
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those human (visible and prominent) differences that exert a powerful, sustained effect throughout every stage of our lives.
Typically not within our control, yet strongly influence attitudes, expectation, and assumptions --ethnicity, race, age |
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External dimensions of diversity
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includes an element of choice: they consist of personal characteristics that people acquire, discard, or modify throughout their lives. Greater ability to influence of control
--religion, income work |
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Trends in diversity
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age: more older ppl in workforce
gender: more women working race/ethnicity: more mixed sexual orientation: more gays visible |
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Barriers in workforce
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Stereotypes & Prejudices
One’s native country, culture, etc is superior Fear of Reverse Discrimination Fear that pendulum will swing too far Resistance to Diversity Program Resentful of special criteria or focus Unsupportive social atmosphere Exclusion from office comaraderie and social events Lack of support for family demands The work/life/family balance thing…still falls on women Lack of support for career-building steps Mentoring, informal training, networking not there |
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Glass ceiling
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invisible barrier, job as a manager is to break through that barrier
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globalization
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trend of the world economy toward becoming a more open, interdependent system
Time and distance, which used to separate countries, have now virtually collapsed |
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global village
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refers to the “shrinking” of time and space as air travel and the electronic media have made it easier for people of the globe to communicate with one another.
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disadvantages of a global economy
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Insecurities of more open system
Linked Stock Markets Labor Market shifts Outsourcing of well-paying jobs |
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Why companies expand internationally
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Availability of supplies
New markets Lower labor costs Access to finance capital Avoidance of tariffs & import quotas |
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megamergers
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merging with big comapnies
--AOL and time warner --Disney and Pixar |
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Minifirms
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internet and world wide web have allowed companies to grow faster at a cheap to nothing cost
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international management
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multinational cooperation, multinational organization
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multinational cooperation
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is a business firm with operations in several countries.
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multinational organization
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a non profit organization with operations in several countries
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How many mLs in a Liter?
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1000
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Principle economic systems
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free market, command market, mixed economy
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free market
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the production of goods and services are controlled by private enterprise and the interaction of forces of supply and demand, rather than by the government
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command market
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or central-planning economy the government owns most businesses and regulates the amounts, types, and prices of goods and services. (Cuba, North Korea)
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mixed economy
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most of the important industries are owned by the government, but others are controlled by private enterprise. (China, Russia). Undergoing privatization, state-owned businesses were sold off to private enterprise.
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Political legal systems
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instability,expropriation, foriegin corrupt practices act of 1977
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Instability
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caused by political risk and change
Seen in: Riots Civil disorders Revolutions or changes in government |
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expropriation
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is a government’s seizure of a foreign companies assets
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Foreign Corrupt Practices act of 1977
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which makes it illegal for employees of the U.S. companies to bribe political decision makers in foreign nations. In foreign countries, no such laws and regulation
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Barriers to international trade
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Trade Protectionism: the use of government regulations to limit the import of goods and services
Protectionism Devices: Tariffs – tax levied on imports Import quotas – limit on number of imports Embargoes – complete ban on a product |
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organizations promoting free trade
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The World Trade Organization--monitor and enforce trade agreements The world bank-provides low interest loans to developing nations to help export and import
the international monetary fund-helps smooth the flow of money b/w countries |
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Major trading blocks
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, is a group of nations within a
geographical region that have agreed to remove trade barriers with each other NAFTA—North American Free Trade Agreement…US, Canada and Mexico EU— 25 countries of the European Union ASEAN—Association of Southeast Asian Nations(21) Mercosur – 6 countries of Latin America |
