Management Fundamentals and Globalization

Contents

• Workshop 1
• Workshop 2
• Workshop 3
• Workshop 4
• Workshop 5
• Workshop 7
• Workshop 9
• Chapter 1: Managing Today
• Chapter 2: The Manager as Decision Maker
• Chapter 3: Important Managerial Issues
• Chapter 4: The Management Environment
• Chapter 5: Managing Change and Innovation
• Chapter 7: Structuring and Designing Organizations
• Chapter 12: Understanding Leadership

Workshop 1

• Globalization integrates markets, resources, and talent across borders
• Impacts on organizations include expanding markets, cost reduction, diverse talent, and economic sensitivity
• Different types of global organizations are described

Workshop 2

• Managers oversee activities in organizations (small businesses to multinationals) in planning, organizing, leading, and controlling
• Management is the process of getting work done effectively and efficiently through others
• Modern management is influenced by factors such as globalization, technology, innovation, and changing workplace dynamics

Workshop 3

• External environment factors include economic, demographic, political/legal, sociocultural, technological, and global conditions
• Environmental uncertainty is defined by degree of change and complexity
• Stakeholders include internal (employees, managers, shareholders) and external (customers, suppliers, communities)
• Different leadership styles (LMX, transformational-transactional, charismatic-visionary, team leadership) are explored.

Workshop 4

• Six key elements in organizational design: work specialization, departmentalization, authority and responsibility, span of control, centralization vs. decentralization, and formalization
• Contingency factors that favor mechanistic or organic models are discussed (mechanistic model suited for stable environments, organic model suited for dynamic environments)

Workshop 5

• Eight steps in decision-making: identifying the problem, identifying criteria, allocating weights to criteria, developing alternatives, analyzing alternatives, selecting an alternative, implementing the alternative, and evaluating the decision
• Common biases in decision-making include overconfidence, immediate gratification, anchoring, selective perception, confirmation, framing, availability, and sunk costs
• Three approaches to decision-making include rational model, bounded rationality, and intuitive processes

Workshop 7

• Organizational change (structure, technology, people) is explored
• External forces for change include marketplace shifts, technological advancements, economic changes, and legal requirements
• Internal forces include changes in organizational strategy, workforce changes, and employee attitudes
• Change metaphors such as "calm waters" and "white-water rapids" are explored
• Planning change with organizational development (OD) includes methods like survey feedback, team-building, and process consultation
• Resistance to change is addressed (uncertainty, habit, fear of loss, and beliefs)

Workshop 9

• Strategic planning process, including identifying mission, goals, and current strategies, conducting external and internal analysis, formulating strategies, implementing strategies, and evaluating results
• Strategic management models and strategies (SWOT analysis, PESTLE analysis, Porter's 5 Forces) are discussed
• Strategies are classified by organizational level (corporate, competitive, functional) and by industry positioning (cost leadership, differentiation, focus)
• The impact of design choices on organizational effectiveness(mechanistic vs organic structures) is explored.

Chapter 1: Managing Today

• Management is about coordinating activities to achieve goals, effectively and efficiently
• Efficiency refers to minimal input for achieving goals.
• Effectiveness refers to accomplishing tasks and achieving goals
• Key managerial functions include planning, organizing, leading, and controlling;
• Managerial Roles, classification by Mintzberg, include interpersonal, informational, and decisional

Chapter 2: The Manager as Decision Maker

• Decision-making process details include identifying problems, criteria, allocation of weights, development and analysis of alternatives, selection of alternative and implementation and evaluation.
• Decision-making errors and biases are discussed

Chapter 3: Important Managerial Issues

• Key managerial issues include globalization, ethics, social responsibility, and sustainability

Chapter 4: The Management Environment

• Factors impacting organizational performance include political/legal, demographic, economic, sociocultural, and technological factors;
• Environments can be stable or dynamic and complex or simple.

Chapter 5: Managing Change and Innovation

• Organizational change—modifications to processes, structure, and people
• Change agents facilitate organizational improvement.
• Innovation involves generating new ideas and implementing them for improved products, services, or processes
• Different innovation types are explained, along with the resistance to change;
• Disruptive innovation (calm waters vs white-water comparison)
• Lewin's three step model

Chapter 7: Structuring and Designing Organizations

• Organizational design and departmentalization (function, product, geography, customer)
• Strengths and weaknesses of organizational structures (simple, functional, divisional, team, matrix, project, boundaryless, learning) are detailed
• Factors like centralization and decentralization, work specialization, authority, and responsibility impact organizational efficiency

Chapter 12: Understanding Leadership

• Details of leadership styles (transformational, transactional, charismatic, visionary, contingency)
• Qualities emphasized for effective leadership are discussed including trust, empowerment, and leader-member exchange.

Test your knowledge on foundational management concepts and the impact of globalization on organizations. This quiz covers key topics from managing today to understanding organizational structures and leadership. Perfect for students and professionals looking to enhance their management skills.