Management Practices and Organizational Change

Organizational Changes & Management Practices

• Organizations have evolved, prompting adjustments in management approaches.
• Management practices adapt to organizational shifts.

Four Functions of Management

• Planning: Determining organizational goals and strategies.
• Organizing: Setting up structures and workflows.
• Leading: Motivating employees and direction-giving.
• Controlling: Monitoring performance and making adjustments.

Management Levels & Roles

• Top Management: Sets strategic direction, long-term goals, and policies.
• Middle Management: Implements strategies, oversees departmental operations, and manages staff.
• First-Line Management: Supervises employees, ensures daily operations comply with standards, and provides direct support.

Mintzberg's Roles & Katz's Skills

• Mintzberg's Roles: Interpersonal (figurehead, leader, liaison), Informational (monitor, disseminator, spokesperson), Decisional (entrepreneur, disturbance handler, resource allocator, negotiator).
• Katz's Skills: Technical, human (interpersonal), conceptual.

Communication Types & Channel Richness

• Communication Types: Verbal, nonverbal, written.
• Channel Richness: Describes a communication channel's capacity for immediate feedback, multiple cues, and personalization.

Importance of Choosing the Right Communication Channel

• Selecting the appropriate communication channel ensures effective message transmission and clarity.

Communication Barriers

• Internal: Filtering, selective perception, information overload, emotional disconnects, lack of source credibility.
• External: Cultural differences, language barriers, poor listening skills.

Ethical Dilemma Framework

• Ethical dilemmas arise when choices violate personal values, business ethics, or legal norms.

Ethics, Values, Morals, and Ethical Dilemmas

• Ethics: Moral principles that guide decision-making.
• Values: Fundamental beliefs and principles.
• Morals: Personal codes of conduct.
• Ethical Dilemma: Situations where individuals or organizations face conflicting ethical options.

Business Prioritization of Ethics

• Promoting ethical conduct fosters trust, strengthens reputation, attracts talent, and improves long-term business success.

Ethics Cases

• Detailed examples of ethical issues in business are discussed.

Competitive Advantages

• Factors that enable a business to outperform competitors within an industry.

Stakeholders & Shareholders

• Stakeholders: Individuals or groups affected by a business's operations.
• Shareholders: Investors who own shares of the business.

Organizational Culture

• Shared values, beliefs, norms, and assumptions within an organization.

Multicultural Organizations Challenges & Management

• Diverse workforces can face challenges, including communication barriers and differing work styles. Management strategies aim to leverage these differences for organizational advantage.

Global Economy & Global Managers

• Global managers must navigate diverse cultural environments, ethical considerations, and economic trends to achieve organizational success. Understanding global business practices and trends is essential.

Market Entry & Direct Investment Strategies

• Market Entry: Strategies for entering new markets, including exporting, licensing, joint ventures, and foreign direct investment.
• Direct Investment: A significant investment in a foreign market to gain control.

Business Relationships & Dynamics

• Building relationships and understanding cultural dynamics are critical for successful business operations in diverse settings.

Perception

• Perception: The process of selecting, organizing, and interpreting information to create a meaningful picture of the world.
• Influences: Needs, motivations, past experiences, expectations, values, and situational factors.

Perception Barriers

• Halo Effect: Judging an individual based on a single positive characteristic.
• Stereotyping: Generalizing about a group of people.
• Selective Perception: Paying attention to information that confirms existing beliefs.

Emotional Intelligence

• The ability to understand and manage one's own emotions and those of others.

Intrinsic vs Extrinsic Motivation

• Intrinsic: Motivation driven by internal rewards.
• Extrinsic: Motivation driven by external rewards.

Leaders & Motivation

• Leaders employing effective motivational theories and practices improve employee job satisfaction and productivity. Various theories, such as those by Maslow, Herzberg, and McGregor, can support these approaches.

Communication Process

• The process of exchanging information and ideas.

Workplace Stress

• Stressors, symptoms, workplace techniques (stress-reduction).

Conflict Management Styles

• Different strategies (avoidance, accommodation, competition, compromise, collaboration) that managers use to address conflict.

Workplace Conflict

• Types and root causes.

Organizational Structures

• Horizontal: Flat structures, decentralized decision-making, emphasis on collaboration.
• Vertical: Hierarchal structures, centralized decision-making, formal reporting chains.

Centralization vs Decentralization

• Centralization: Decisions made at a higher level in the organizational hierarchy.
• Decentralization: Decisions made at lower levels; dispersed power and authority.

Delegation

• Assign tasks to other individuals or groups.

Human Resource Process

• Major Elements: Recruitment, selection, training, development, compensation, and performance management.
• Purpose: Optimizing personnel practices for a firm.

Performance Appraisals

• Four Types: 360-degree, behavioral, results-oriented, and trait-based.

Labour Unions

• Organizations that represent employees' interests.

Compensation

• Monetary: Salary, bonuses, benefits.
• Non-monetary: Recognition, opportunities for growth.

Laws against Discrimination

• Laws prohibit discrimination in employment, including affirmative action, harassment, and comparable worth.

Independent Contractors

• Self-employed individuals hired for specific tasks or projects.

Workplace Privacy

• Protecting personal information and maintaining confidentiality.

Safety Laws

• Laws related to workplace health and safety, including the Canada Labour Code; OHSA (Occupational Health and Safety Act); WSIB (Workplace Safety and Insurance Board).

SMART Goals

• Specific, Measurable, Achievable, Relevant, Time-bound.

Planning Process

• Steps for creating and implementing plans.

Strategic Management

• Defining & pursuing goals and achieving a competitive edge.

Strategy Formulation & Implementation

• Developing strategies and putting them into action.

Mission and Vision Statements

• Mission: Statement about the organization's current responsibilities and goals.
• Vision: Statement about the organization's future aspiration and values.

Control Process & Types

• Process of monitoring and adjusting employee performance; Types include: feedback control, concurrent control and feedforward control.

Market Share & Market Growth

• Calculating market share and market growth to understand competitive position.

Discipline Systems

• Progressive disciplinary procedures.

Strategic Management Tools

• SWOT Analysis: Strengths, Weaknesses, Opportunities, Threats.
• BCG Matrix: Portfolio analysis, assessing growth and market share.
• Porter's Five Forces: Analyze industry's competitive structure.
• PEST Analysis: Examines political, economic, social, and technological factors.
• Gantt Chart: Visual representation of project scheduling and timelines.

Corporate Social Responsibility

• A company's commitment to operating ethically and sustainably, considering its social and environmental impact.

Leadership Styles

• Autocratic: Centralized decision-making, little employee input.
• Laissez-Faire: Minimal leadership intervention, largely autonomous workers.
• Democratic: Collaborative decision-making, employee participation.
• Group Decision Making: A team-oriented approach.
• Transformational: Inspiring individuals to achieve more than expected.
• Transactional: Focuses on task completion and clear rewards.