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Manager's Roles

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1. Plan 2. Lead 3. Organize 4. Control

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Management

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

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Organizational effectiveness

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degree to which the organization achieves a stated goal, or succeeds in accomplishing what it tries to do

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Organizational effeciency

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refers to the amount of resources used to achieve organizational goals

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Reasons why managers fail

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1. Poor communication 2. Poor interpersonal skills

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Trial by fire

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Learning on the job as they go

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Scientific management

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Emphasizes scientifically determined jobs + management practices as the way to improve efficiency and labor productivity

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Bureaucratic organizations approach

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Looked at organization as a whole hierarchy of positions

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Administrative Principles approach

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Focused on total organization

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Humanistic approach

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Understanding human behaviors needs, wants, and attitudes in the workplace as well as social interactions and group processes

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Human relations movements

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Truly effective control comes from within the individual worker rather than strict authoritarian control

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Management science

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quantitative perspective -operations research -operations management -information technology

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Quants

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financial managers and others who base their decisions on complex quantitative analysis

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System

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set of interrelated parts that fxn as a whole to achieve a purpse

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Systems thinking

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ability to see both the distinct elements of a system or situation and the complex + changing interaction amoung those elements

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Subsystems

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part of system, such as organizations, that depend on one another

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Customer Relationship Management (CRM)

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Keep in close contact with customers

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Supply Chain

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managing the sequence of suppliers and purchasers, covering all the stages of processing from obtaining raw materials to distributing finished goods

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Total quality management

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focuses on managing total organization to deliver quality to customers

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Organizational environment

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1. Competitors 2. Resources 3. Technology 4. Economic Conditions

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General environment

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1. Social 2. Economic 3. Technological 4. Legal/Political 5. Natural

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Task environment

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1. Competitors 2. Suppliers 3. Customers 4. Labor Market

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Internal environment

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1. Employees 2. Management 3. Corporate Culture

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Merger

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2 companies become 1

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Joint venture

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strategic alliance or program by 2 or more organizations

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Culture

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set of key values, beliefs, understandings/norms

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Fundamental Values of Organizations

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Symbols - object, act, or event that conveys meaning to another Story - narrative based on true events and is repeated frequently + shared among organizational employees Hero - figure that exemplifies deeds, character, and attributes of a strong culture Slogan - phrase or sentence that expresses key corporate values Ceremony - planned activity at a special event that is conducted for the benefit of the audience

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Adaptability culture

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emerges in an environment that requires fast response and high risk decision making

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Achievement culture

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suited to organizations concerned with serving specific customers in the external environment, but w/o the intense need for flexibility + rapid change

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Involvement culture

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emphasize an internal focus on the involvement + participation of employees to adapt rapidly to changing needs in the environment

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Consistency culture

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Uses an internal focus and a consistency organization for a stable environment

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Innovation

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will keep a business alive

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3 things that shift when you become a manager

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1. Technical 2. Human 3. Conceptual

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Hard v soft responsibilities

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Hard ::: Goals, deadlines, finances, analysis, policies, procedures Soft ::: Motivate, communicate, team building, coaching, conflict management

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Fayol

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Admin Science

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Taylor

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1 best way

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Weber

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Best structure - bureaucracy

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Barnard

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incentives, side bargin, get ideas out of their head, "bonus" obstacles/barriers with $

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Maslow

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hierarchy needs/wants

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McGregor

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x & y x theory: lazy, worthless, negative, stupid y theory: want social interaction, work is play, fun, positive, smart

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7-10 years

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consistent culture

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Codified law

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values + standards are written into the legal system and enforceable in court

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Utilitarian approach

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greatest good for greatest number of people

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Individuals approach

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acts are moral when they promote the individuals best long term interest

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Moral rights approach

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human beings have fundamental right + liberties that cannot be taken away by an individuals decision ethical concept that moral decisions are those that best maintain the rights of those people affected by them

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Justice approach

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moral decisions must be based standards of equity, fairness, and impartiality

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Free choice lies between the domains of codified law and ethics

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False

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Most ethical dilemmas in business involve a conflict between stakeholders and shareholders

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False

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The practical approach to ethical decision making says that ethical issues are not always clear-cut

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True

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Discretionary Responsibility

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Voluntary act by an individual community member intended to benefit another person, group of people or the greater community.

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3 Levels of personal moral development

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1. Pre-conventional: follows rules to avoid punishment 2. Conventional: Lives up to expectations of others, fulfills duties of society 3. Post conventional: follows self chosen principles of justice, aware that people hold different values

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Corporate social responsibility (CSR)

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management obligation to make choices and take actions that will contribute to the welfare + interests of society not just the organizations

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Stakeholder

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any group or person within or outside the organization that has some type of investment or interest in the company

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Sustainablility

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economic development generate wealth

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Goal

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desired future state that the organization wants to realize socially constructed - defined by groups or individuals

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Plan

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blueprint specifying the resource allocations, schedules, and other actions necessary for attaining goals

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Planning

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act of determining goals and defining the means of achieving them, and is the most fundamental of the four management functions (helps them think about future rather than day-to-day)

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Mission

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organizations values, aspirations, and reason for being

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Mission statement

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broadly stated definition of purpose that distinguishes the organization from others of a similar type

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Strategic Goals (official goals)

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broad statements describing where the organizations wants to be in the future

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Strategic plans

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define the action steps by which the company intends to attain strategic goals

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Tactical goals

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the results that major divisions and departments within the organization intend to achieve

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Tactical plans

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designed to help execute the major strategic plans + accomplish a specific par of the companies strategy

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Operational goals

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precise + measurable

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Operational plans

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specify the action steps toward achieving operational goals and support tactical activities

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Effective goals

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defined period of time that specifies the date on which goal attainment will be measured

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Management by means (MBM)

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focuses attention on how to achieve goals purse their activities the right way, positive outcomes will result focuses people on considering the means rather than just on reaching the goal

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Single-use plans

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developed to achieve a set of goals that are not likely to be repeated in the future

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Standing plans

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ongoing plans that provide guidance for tasks or situations that occur repeatedly within the organization

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Benefits of Planning

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source of motivation + commitment guide resource allocation a guide to action a standard of performance

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Limitations of Planning

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create a false sense of certainty rigidity in a turbulent environment get in a way of intuition and creativity

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Contingency plan

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define company responses to be taken in the case of emergencies, setbacks, or unexpected conditions

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Scenario building

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involves looking at current trends and discontinuities and visualizing future possibilities

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Crisis planning

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enable them to cope with unexpected events that are so sudden and devastating that they have the potential to destroy the organization if managers aren't prepared with a quick & appropriate response

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Decentralized planning

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top executives or planning experts work with managers in major divisions or departments to develop their own goals or plans

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Stretch goals

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are reasonable yet highly ambitious and compelling goals that energize people and inspire excellence

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Strategic managment

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the set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals

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Strategy

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plan of action that describes resource allocation and activities for dealing with the environment , achieving a competitive advantage, and attaining goals

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Competitive advantage

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what sets the organization apart from one others & provides it with a distinctive edge in the marketplace

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Core competence

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something that an organization does particularly well in comparison to others

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Swot Analysis

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audit or careful examination of strengths weaknesses opportunities and threats that affect the organizations performance

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BCG Matrix

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business growth rate & market share

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Decision making

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process of identifying problems and opportunities and then resolving them

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Decision

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choice made from available alternatives

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Programmed decision

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one made in response to a situation that has occurred often enough to enable managers to develop decision rules that can be applied in the future

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Non programmed decision

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one made in response to a situation that is unique, poorly defined and largely unstructured, and has important consequences for the organization

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Certainty

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situation in which all the information the decision maker needs is fully available

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Risk

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means that the decision has clear-cut goals and good information available, but the future outcomes associated with each alternative are subject to chance

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Uncertainty

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occurs when managers know which goals they want to achieve, but information about alternatives and future events is incomplete

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Ambiguity

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condition in which the goals to be achieved or the problem to be solved is unclear, alternatives are difficult to define, and information about outcomes is unavailable

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Classical model

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based on the assumption that managers should make logical decisions that are economically sensible and in the organization's best economic interest

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Normative

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meaning that it defines how a manager should make logical decisions and provides guidelines for reaching an ideal outcome

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Administrative Model

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includes the concepts of bounded rationality and satisfying and describes how managers make decisions

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Descriptive

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an approach that describes how managers actually make decisions

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Bounded rationality

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people have the time and the cognitive ability to process only a limited amount of information on which to base decisions

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Satisficing

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means choosing the first alternative that satisfies minimal decision criteria, regardless of whether better solutions are presumed to exist

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Intuition

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an aspect of administrative decision making that refers to a quick comprehension of a decision situation based on past experience but without conscious thought

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Coalition

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informal alliance among managers who support a specific goal or solution

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problem

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organizational accomplishment is less than established goal

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opportunity

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exists when managers see potential accomplishment that exceeds specified current goals

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Diagnosis

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step in the decision making process in which managers analyze underlying causal factors associated with the decision situation

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Risk propensity

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willingness to undertake risk with the opportunity of gaining an increased payoff

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Implementation

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involves the use of managerial, administrative, persuasive abilities to ensure that the chosen alternatives is carried out

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Decision styles

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differences among people with respect to how they perceive problems and make choices

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Brainstorming

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face-to-face interactive group to spontaneously suggest a wide rang of alternatives for decision making

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Electronic brainstorming

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over the computer

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Evidence-based decision making

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commitment to make more informed and intelligent decisions based on the best available facts + evidence

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Devil's avocate

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person is assigned the role of challenging the assumptions and assertions made by the group

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Groupthink

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refers to the tendency of people in groups to suppress contrary opions

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escalating commitment

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refers to continuing to invest time and money in a decision despite evidence that it is failing

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After-action review

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disciplined procedure whereby managers review the results of decisions to evaluate that worked, what didn't, and how to do things better

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