Podcast
Questions and Answers
What is the main difference between the symbolic view and the omnipotent view of leadership?
What is the main difference between the symbolic view and the omnipotent view of leadership?
Which stage of group development involves conflict over control within the group?
Which stage of group development involves conflict over control within the group?
What is the final stage of group development for temporary groups?
What is the final stage of group development for temporary groups?
Adjourning stage
In controlling, the three steps involve measuring actual performance, comparing it against standards, and taking managerial action to correct __________.
In controlling, the three steps involve measuring actual performance, comparing it against standards, and taking managerial action to correct __________.
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Define Efficiency in management.
Define Efficiency in management.
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What is the concept of Effectiveness in management?
What is the concept of Effectiveness in management?
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Which bias involves selecting, organizing, and interpreting events based on biased perceptions?
Which bias involves selecting, organizing, and interpreting events based on biased perceptions?
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Efficiency and Effectiveness are both crucial aspects of good management.
Efficiency and Effectiveness are both crucial aspects of good management.
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_______ departmentalization groups employees based on the bases of work or customer flow.
_______ departmentalization groups employees based on the bases of work or customer flow.
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Match the following motivational theories with their concepts:
Match the following motivational theories with their concepts:
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Explain the Locus of Control personality trait.
Explain the Locus of Control personality trait.
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Study Notes
Effectiveness vs Efficiency
- Efficiency: doing things right, getting the most output from the least amount of input, and using resources as efficiently as possible.
- Effectiveness: doing the right things, achieving and attaining organizational goals.
- Good management involves attaining both effectiveness and efficiency.
Planning
- Types of planning:
- Breadth (Strategic plans): apply to the whole organization and cover overall goals.
- Tactical (Operational plans): specific details on how overall goals are to be achieved.
- Long-term plans: plans beyond 3 years.
- Specific-term plans: one year or less.
- Specific plans: clearly defined plans with no room for interpretation.
- Directional plans: flexible plans with general guidelines.
- Single-use plan: one-time plan designed for a unique situation.
- Standing plans: ongoing plans providing guidance for repeated activities.
Decision Making
- Biases and Errors:
- Heuristics: using "rules of thumb" to simplify decision-making.
- Overconfidence bias: holding unrealistically positive views of oneself and one's performance.
- Immediate Gratification Bias: choosing alternatives that offer immediate rewards and avoid immediate costs.
- Anchoring effect: fixating on initial information and ignoring subsequent information.
- Selective perception bias: selecting, organizing, and interpreting events based on biased perceptions.
- Confirmation Bias: seeking information that reaffirms past choices while discounting contradictory information.
- Framing bias: selecting and highlighting certain aspects of a situation while ignoring others.
- Availability Bias: losing decision-making objectivity by focusing on recent events.
- Representation Bias: drawing analogies and seeing identical situations where one exists.
- Randomness Bias: creating unfounded meaning out of random events.
- Sunk cost errors: forgetting that current actions cannot influence past events and relate only to future consequences.
- Self-serving bias: taking quick credit for failure.
- Hindsight bias: mistakenly believing that an event could have been predicted once the actual outcome is known.
Organizing
- Contingency variables for organizational design:
- Overall strategy of the organization
- Size of the organization
- Technology used by the organization
- Degree of environmental uncertainty
- Strategy: Achievement of strategic goals is facilitated by changes in organizational structure that accommodate and support change.
- Size: As an organization grows large, its structure tends to change from organic to mechanistic.
- Technology: Organization adapts its structure to its technology.
- Environmental uncertainty: Mechanistic organizational structure is effective in stable and simple environments, while organic structures are better suited for dynamic and complex environments.
Departmentalization
- Types of departmentalization:
- Functional departmentalization: Grouping employees based on work performed.
- Product departmentalization: Grouping employees based on major product areas.
- Customer departmentalization: Grouping employees based on customer's problems and needs.
- Geographic departmentalization: Grouping employees based on location served.
- Process departmentalization: Grouping employees based on the basis of work or customer flow.
Motivation
- Herzberg's Two-Factor Theory (Motivation Hygiene Theory):
- Intrinsic factors (internal) are related to job satisfaction and motivation.
- Extrinsic factors (external) are associated with job dissatisfaction.
- Two-factor theory: the guy proposes that intrinsic factors are related to job satisfaction and motivation, whereas extrinsic factors are associated with job dissatisfaction.
Hierarchy of Needs Theory
- Meaning: there's 5 hierarchy of human needs: physiological, safety, social, esteem, and self-actualization.
- Each level must be satisfied before the next need, and individual moves up the hierarchy from one level to the next.
Individual Behavior and Personality Traits
- Locus of control: The degree to which people believe they control their own fate.
- Machiavellianism: A measure of the degree to which people are practical, maintaining emotional distance, and believe that ends justify means.
- Self-esteem: An individual's degree of like or dislike for himself/herself.
- Self-monitoring: A personality trait that measures the ability to adjust behavior to external situational factors.
- Risk taking: Influence worker behavior so that they are willing to take chances.
Leadership Traits Theories
- Drive: leader shows a high effort level, has a strong desire to achieve, and is ambitious.
- Desire to lead: Leaders have a strong desire to influence and lead others.
- Honesty and integrity: Leaders build trusting relationships with followers by being truthful and showing consistency.
- Self-confidence: Followers look to leaders who don't self-doubt.
- Intelligence: Leaders need to be intelligent enough to gather, synthesize, and interpret large amounts of information.
- Job-relevant knowledge: Effective leaders have a high degree of knowledge about the company, industry, and technical matters.
- Extraversion: Leaders are energetic, lively people who are sociable, assertive, and rarely silent or withdrawn.
- Proneness to guilt: Guilt-proneness is positively related to leadership effectiveness.
Leadership View
- Symbolic view: The view that much of the organization's success or failure is due to external factors outside manager's control.
- Omnipotent view: The view that managers are directly responsible for an organization's success or failure.
Teamwork and Group Development
- Forming stage: First stage of group development, people join the group and define the group purpose, structure, and leadership.
- Storming stage: Second stage of group development, characterized by conflict inside the group.
- Norming stage: Third stage of group development, characterized by close relationships and cohesiveness.
- Performing stage: Fourth stage of group development, when the group is fully functional and works on the group task.
- Adjourning stage: Final stage of group development for temporary groups, during which groups prepare to disband.
Control
- Three steps in controlling:
- Measuring actual performance
- Comparing actual performance against standard
- Taking managerial action to correct lacking standards
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Description
Understand the difference between effectiveness and efficiency in management, and how they impact organizational goals and resource allocation.
