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Management

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the process of working with and through others to achieve organizational objectives in a changing environment.

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Effectiveness

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entails promptly achieving a stated objective.

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Efficiency

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refers to the amount of resources used to achieve an objective against what was actually accomplished.

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Environment in which managers work is changing

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Administrative role, Cultural orientation, Quality/ethics/environmental impacts, Power bases, Primary Organizational unit, Interpersonal dealings, learning, problems, Change and Conflict, Information

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Administrative Role

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Team member/facilitator/teacher/sponsor/advocate/coach

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Cultural orientation

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Multicultural / multilingual

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Quality/ethics/enviornmental impacts

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Forethought (unifying themes)

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Power Bases

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Knowledge; relationship

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Primary Organizational Unit

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Team

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Interpersonal Dealings

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Cooperation; win-win

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Learning

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Continuous (lifelong; learner-driven)

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Problems

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Opportunities for learning and continuous improvement

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Change and Conflict

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Anticipate / seek / channel

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Information

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Increase access / share

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8 Managerial Functions

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(1)Planning, (2) Decision Making, (3) Organizing, (4) Staffing, (5) Communicating, (6) Motivating, (7) Leading, (8) Control

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Planning

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the formulation of future courses of action. It gives purpose and direction to the organization, its subunits, and contributing individuals.

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Decision Making

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choosing among alternative courses of action.

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Organizing

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structural considerations such as the chain of command, division of labor, & assignment of responsibility are part of the organizing function.

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Staffing

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consists of recruiting, training, & developing people who can contribute to the organized effort.

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Communicating

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communication is a two-way process. Managers should be responsive to feedback and upward communications.

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Motivating

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pursuing collective objectives by satisfying needs and meeting expectations with meaningful work and valued rewards.

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Leading

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serving as role models and adapting their management style to the demands of the situation.

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Control

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comparing desired results with actual results and take the necessary corrective action.

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Wilson's Managerial Skills

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Technical, Teambuilding, Drive Skills

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Technical Managerial Skills

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(1)Technical Expertise, (2) Clarification of goals and objectives, (3) Problem Solving, (4) Imagination and creativity

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Technical Expertise

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skills you have acquired by education and experience; to understand and communicate key technical details

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Clarification of Goals and Objectives

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your ability to organize and schedule the work of your unit so it is achieved when expected, and meets established standards.

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Problem Solving

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your ability to resolve issues you confront in the day's work; to develop team collaboration in facing problems.

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Imagination and Creativity

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you demonstrate an ability to originate ideas, to correct and develop ways to improve productivity.

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Teambuilding Skills

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(1) Listening for insights, (2) Directing and Coaching, (3) Solving problems as teams, (4) Coordinating and Cooperating

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Listening for Insights

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keeping aware of activities of your team and units close to you; underpinning your ability to continue being a manager.

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Directing and Coaching

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meeting your goals and standards; keeping your team's skills up to target levels.

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Solving Problems as Teams

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an important role is helping your team contribute ideas to improve their performance.

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Coordinating and Cooperating

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demonstrating a willingness to work with others; your group, individuals, and units close to you.

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Drive Skills

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(1) Standards of Performance, (2) Control of Details, (3) Energy, (4) Exerting Pressure

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Standards of Performance

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your effort to keep your part of the organization moving, your willingness to be busy and keep aimed toward new accomplishments.

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Control of Details

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overseeing the performance of work at a close level, to meet performance goals and standards.

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Energy

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demonstrating to your team and colleagues a readiness and willingness to work and that you expect their cooperation.

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Exerting Pressure

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urging others to perform, by shaping your activities to be perceived as teamwork, not domination.

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Characteristics of Typical Managers

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(1) Overburdened with obligations, (2) Cannot easily delegate tasks, (3) Driven to overwork, (4) Forced to do many tasks superficially, (5) Work pace characterized by brief interactions, frequent interruptions, and a high reliance on verbal communication.

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Universal Process Approach

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The administration of all organizations, public or private or large or small, requires the same rational process.

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Operational Approach

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Process of transforming raw materials, technology, & human talent into useful goods & services.

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Behavioral Approach

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People deserve to be the central focus of organized activity.

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Systems Approach

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A study of management by putting things together & assume the whole is greater than the sum of its parts.

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Contingency Approach

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Through research with managerial practices & techniques, there are appropriate approaches to specific Contingency Characteristics.

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The Human Relations Movement

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Made managers more sensitive to employee needs.

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Theory X

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pessimistic view. People are not very creative.

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Theory Y

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Work is a natural activity, like play or rest. People are capable of self-direction and self-control if the yare committed to objectives. People will become committed to organizational objectives if they are rewarded for doing so. The average person can learn to both accept and seek responsibility. Many people in the general population have imagination, ingenuity, and creativity.

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Scientific management

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Establish standards based on facts through systematic observation, experimentation, or reasoning.

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Four Areas of Scientific Management movement in industry

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(1) Standardization, (2) Time and Task Study, (3) Systematic Selection & Training, (4) Pay Incentives

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Quality Advocates and their contributions

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Walter Shewhart- Statistical quality control. Kaoru Ishikawa-Concept of customers; Fishbone diagram in problem solving W. Edwards Deming-14 principles Joseph M. Juran- team work, Armand V. Feigenbaum- total quality Control Philip B. Crosby- zero defects.

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The Social Environment

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It is getting larger increasingly female more racially and ethnically diverse and older. New Social Contract. Education/older workers/social contract/inequalities

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Political

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Responses(reactive neutral,proactive)/audits

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Economic

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Job outlook/cycles/foreign-owned companies

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Technology

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Concept --> product technology -->production technology

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4 Ways the Demographics of the New American Workforce is Changing

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Demographics, New social contract between employer& employees, Inequalities in the workplace, Managing diversity

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Common Myths about older Emplyees

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They are less productive, They incur higher benefits costs, They have higher absenteeism, They have more accidents at work, They are not willing to learn, and They are inflexible about the hours they are willing to work.

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Social Contract between Employer and Employee

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The assumption that the employer-employee relationship will be a shorter-term one based on convenience and mutual benefit, rather than for life

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Managing Diversity

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The process of creating an organizational culture that provides all employees, including women and minorities, with assistance and opportunities to help them realize their full potential

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Why is managing diversity important?

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The moral necessity and commitment in going beyond EEO(Equal Employment Oppor.) and affirmative action to create flexible organizations that encompass and value diversity

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Stages of the Internationalization Process

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Licensing (Stage 1), Exporting (Stage 2), Local Warehousing and Selling (Stage 3), Local Assembly and Packaging (Stage 4), Joint Ventures (Stage 5), Direct Foreign Investments (Stage 6)

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Licensing

answer

Stage 1 of the Internationalization Process--an agreement between organizations of two different countries to use components created in one country in a product produced by an organization in another country.

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Exporting

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Stage 2 of the Internationalization Process--shipping and selling a product to retailers in another country.

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Local Warehousing and Selling

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Stage 3 of the Internationalization Process--product is shipped to storage facilities in another country before going to retail stores in that foreign country.

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Local Assembly and Packaging

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Stage 4 of the Internationalization Process--Components are shipped to a foreign countries assembly and packaging plants.

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Joint Ventures

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Stage 5 of the Internationalization Process--Partnerships between organizations who belonging to two or more different countries.

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Direct Foreign Investments

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Stage 6 of the Internationalization Process--outright purchase of a foreign-owned organization.

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Transnational Company

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a futuristic model of a global network of productive units with a decentralized authority and no distinct national identity.

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Global Company

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a multinational venture centrally managed from a specific country.

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Ethnocentric attitude

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home-country oriented ("My culture and ways are superior.")

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Polycentric attitude

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host-country oriented ("When in Rome, do as the Romans Do.")

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Geocentric attitude

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world-oriented ("Search the globe for the best talent.")

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High- context cultures

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people rely heavily on nonverbal and subtle situational messages when communicating with others.(Japan and other Asian Cultures)

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Low- context cultures

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spoken and written words are used to convey primary meaning (United States) (Contracts)

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Hofstede's Conclusion

answer

Recommended that American managers adapt theories to local cultures rather than be imposed on them.

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Corporate social responsibility

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the notion that corporations have an obligation to constituent groups in society other than stockholders and beyond that prescribed by law or union contract." (Voluntary Action, An emphasis on means, not ends)

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The Classical Economic Model Adam Smith (18th Century)

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Invisible hand promoted public welfare. Public interest was served by individuals pursuing their own economic self-interests. Primary concern for short-run profits/stockholders.

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Socioeconomic Model

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Business is a subsystem among many in a highly interdependent society . Many groups in society besides stockholders have a stake in corporate affairs.

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Arguments for Corporate Social Responsibility

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Business is Inevitably involved in social issues. Business has ample resource to help out. Better society = better environment. Less government intervention.

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Arguments Against Corporate Social Responsibility

answer

1. Profit maximization ensures the efficient use of society's resources. 2.As an economic institution, business lacks the ability to pursue social goals. 3.Business already has enough power. 4.Because managers are not elected, they are not directly accountable to the people.

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Social Responsibility Strategies

answer

Reaction, Defense, Accommodation, Proaction

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Reaction

answer

deny & maintain "status quo"

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Defense

answer

use legal maneuvering &/or public relations campaign to avoid assuming additional responsibilities.

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Accomodation

answer

pressure to assume additional responsibility.

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Proaction

answer

aggressively taking the initiative.

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Enlightened Self-Interest

answer

realization that business ultimately helps itself by helping to solve societal problems.

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Key features of effective ethics programs

answer

Support of top management. Open discussion of realistic scenarios. A clear focus on ethical issues Integration of ethics into the organization A mechanism for anonymously reporting ethical violations Rewarding of ethical conduct

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State uncertainty

answer

the environment, or a portion of it, is unpredictable.

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Effect uncertainty

answer

inability to predict the effects of specific environmental changes or events.

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Response uncertainty

answer

unable to predict the consequences of a particular decision or organizational response.

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Management by Objectives (MBO)

answer

A management system based on measurable and participatively set objectives.

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Management by Objectives 4 Step Process

answer

1. Setting objectives- emphasize participation & involvement of people. 2. Developing action plans - complement one another. 3. Periodic review - monitoring performance. 4. Performance appraisal - emphasize results not personalities or excuses.

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Strengths of using MBO

answer

1. MBO blends planning and control into a rational system of management. 2. MBO forces an organization to develop a top-to-bottom hierarchy of objectives. 3. MBO emphasizes end results rather than good intentions or personalities. 4. MBO encourages self-management and personal commitment through employee participation in setting objectives.

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The Basic Planning Process

answer

Step 1: Formulate plan Step 2: Carry out plan Step 3: Compare with plans Step 4: Take corrective action

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Key Dimensions of Strategic Farsightedness

answer

Org. Strategy, Competitive Advantage, Org. Structure, R & D, Personnel Administration, Problem Solving, Management Style

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Org. Stragegy

answer

written & communicated long-term.

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Competitve Advantage

answer

be the leader

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Org. Structure

answer

flexible, change, upward & lateral communication, adaptability & speed.

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R&D

answer

new, innovative

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Personnel Administration

answer

long-term, asset

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Problem Solving

answer

finding solutions

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Management Style

answer

multilevel, long-term implications

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Strategic Management

answer

the ongoing process of ensuring a competitively superior fit between an organization and its changing environment.

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Porter's Model (Competitive Advantage)

answer

Cost Leadership Strategy: (Cost focus; Broad Target) concern for keeping costs lower than the competition's focus on economies of scale and productivity improvement Differentiation Strategy: (Differentiation; Broad target) product perceived as unique by most of its customers cost reduction is not the highest priority

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Porter's Model (Competitive Scope)

answer

Cost Focus Strategy: (Cost focus; Narrow Target) Gaining a competitive edge in a narrow or regional market by exerting strict cost control. Focused Differentiation Strategy: (Differentiation; Narrow) Delivering a superior product and/or service to a limited audience.

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SWOT Analysis

answer

a technique for matching organizational strengths and weaknesses with environmental opportunities and threats to determine the organization's niche.

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Sources of Complexity for Today's Decision Makers

answer

Multiple criteria - conflicting interests Intangibles - goodwill, morale Risk and uncertainty - cost of poor decisions Long-term implications - unintended impact Interdisciplinary input - complex & technical Pooled decision making - multifunctional Value judgments - different backgrounds

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Programmed decisions

answer

those that are repetitive, routine and common in day-to-day operations.(EX. Billing, Hiring, Inventory,Consumer loan at bank)

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Nonprogrammed decisions

answer

those that are made in complex, important, and nonroutine situations, often under new and largely unfamiliar circumstances. Nonprogrammed decision making calls for creative problem solving.

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Certainty

answer

a condition of certainty exists when there is no doubt about the factual basis of a particular decision and its outcome can be predicted accurately.

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Risk

answer

a condition of risk is when a decision must be made on the basis of incomplete but reliable factual information.

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Uncertainty

answer

a condition of uncertainity exists when little or no reliable factual information is available.

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Advantages to GROUP-AIDED DECISION MAKING

answer

Greater pool of knowledge Different perspectives Greater comprehension Increased acceptance Training ground

Principles of Management Final-Part 1 (Chapters 1-8) – Flashcards

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