Management Theories and Practices

Introduction to Management

• High-performing organizations achieve extraordinary results by effectively leveraging employee skills.
• Intellectual capital is the combined brainpower and shared knowledge of an organization's workforce.
• Knowledge workers' minds are crucial assets, requiring continuous skill development.
• The fourth industrial age involves cloud computing, mobile internet, automation, robotics, and artificial intelligence.
• Tech IQ involves using current technologies in both work and personal life.
• Globalization is marked by the interdependence of resource flows, product markets, and global competition.
• Job migration occurs when companies shift jobs from one country to another.
• Reshoring is shifting manufacturing jobs back home from overseas.
• Ethics entails moral principles that establish “good” and “right” conduct standards, differentiating it from "bad" and "wrong."
• Corporate governance involves the board of directors ensuring top management is responsible for organizational success.
• Workforce diversity reflects differences in gender, age, race, ethnicity, religion, sexual orientation, and physical abilities.
• A diverse and multicultural workforce presents both challenges and opportunities for businesses.
• Diversity bias can manifest as prejudice, discrimination, and the glass ceiling effect.
• Organizations consist of permanent full-time workers, temporary part-time workers and freelance or contract workers known as a shamrock organization.
• The free-agent economy is when individuals change jobs often and work on flexible contracts.
• Self-management is the ability to assess oneself, recognize strengths and weaknesses, make constructive changes, and manage personal development.
• Organizations consist of a group of individuals collaborating to achieve a common goal.
• Organizations offer valuable goods and services to customers and clients, aiming to aid society.
• "Value creation" is crucial for organizations.
• Value is created when operations increase product worth relative to resource costs.
• Businesses profit, and non-profits add wealth to society when value creation occurs.
• Productivity measures work performance quantity and quality relative to resource use.
• Performance effectiveness assesses task or objective fulfillment.
• Performance efficiency measures resource costs for goal success.
• Workplace changes create context for management study and focus on human capital valuing.
• Management includes moving away from "command-and-control" styles, emphasizing teamwork, and acknowledging technology's pre-eminence.
• Valuing networking, addressing new workforce demand, and caring for sustainability is crucial.

Levels of Management

• Shift in managing people as valuable strategic assets.
• People are not merely 'costs to be controlled'.
• Managers directly support, supervise, and enable the work efforts of others.
• Managers' contributions depend on the real work of the organization.
• The board of directors ensures the organization is run well.
• Top managers oversee the performance of an organization as a whole or its major parts.
• Middle manages oversee large departments or divisions.
• Team leaders supervise groups of non-managerial workers.
• Line managers are accountable for activities directly impacting outputs
• Staff managers use expertise to advise and support line workers’ efforts.
• Functional managers are responsible for single areas of activity.
• General managers are responsible for more complex units with multiple functional areas.
• Administrators are managers in public and non-profit organizations.
• Managerial performance accountability involves showing performance results to superiors.
• Effective managers aid others in achieving high performance and job satisfaction.
• Quality of Work Life (QWL) indicates human experiences in the workplace.
• Human sustainability and it's a priority issue.
• QWL indicators include respect, fair pay, safe working conditions, learning opportunities, growth prospects, and individual rights protection.
• The organization is an upside-down pyramid.
• Managers support of workers efforts for the job
• The best managers help and support individuals.
• Customers are at the top, served by workers supported by managers.

Management Process, Skills and Learning

• High-performing organizations utilize human and material resources well.
• Management involves planning, organizing, leading, and controlling to reach goals.
• Managers oversee four key functions continuously.
• Planning sets performance goals and how to achieve them.
• Organizing arranges tasks, people, and resources.
• Leading inspires enthusiasm and hard goals.
• Controlling measures action and ensures desired results.
• Managerial work involves long hours, intense pace, and fragmented tasks.
• It includes communication and interpersonal relationships.
• Setting agendas involves creating priorities for goals and plans.
• Networking builds relationships that advance agendas.
• Social Capital means attracting assistance from others.
• Learning is behavior change from experience while lifelong learning occurs continuously.
• Essential managerial skills are technical, human, and conceptual.
• Technical skills apply expertise to specific tasks with proficiency.
• Human skills ensure cooperation: working well with emotional other people.
• Conceptual skills involve analytical and integrative solving.

Theories

• Major branches in the classical approach to management include scientific management, administrative principles and bureaucratic organizations.
• Principles of scientific management develop a "science" for each job, select suitable workers, train them and support workers by careful planning.
• Scientific management involves motion study, reducing jobs to basic motions and improved performance.
• Results-based compensation is scientific management, a performance incentive.
• Design of effective work methods, suitable worker selection, employee and supervisor training.
• Administrative principles are rules and duties of management covering foresight, organization, command, coordination, and control.
• They fit diverse efforts together, share information, and solve problems.
• Bureaucratic organization (Max Weber) is an ideal to efficiently utilize resources, treating employees fairly.
• Bureaucratic organizations include clear labor division, and a hierarchy of authority.
• Formal rules and procedures, impersonality and careers based on merit within these organization.
• Possible bureaucracy disadvantages include excessive paperwork, handling problems slowly, needs rigidity and employee apathy.
• The behavioural or human resource approaches to management is based on the belief that people are social and self-actualizing.
• Follett's organization as communities (Mary Parker Follett) is based on cooperation from the groups and includes allowing individuals to combine their talents for a greater good;
• It involves managers cooperating to achieve goals.
• Hawthorne studies examed how economic incentives and physical conditions affected worker output.
• Social setting and human relations in studies assessed the impact of work conditions on production.
• "Psychological Factors" influenced results
• New settings led to good workers, and good job relations led to higher productivity.
• The Hawthorne effect mentions that people who are observed perform as expected.
• Maslow's theory of human needs is based on a physiological or psychological deficiency a person feels compelled to satisfy
• Hierarchy: physiological, safety, love, esteem, self-actualization.
• In the Deficit principle, a satisfied need isn't a motivator - try to satifsy deprived needs.
• In the progression principle, a need is satisfied with lower - level needs in sequence.
• Both principles stop operating at self-actualization.
• McGregor's theory X is based on the workers dislike work, are irresponsible, and dislike change.
• McGregor's theory Y assumes employees accept repsonsibility and direction, are willing to work, are imaginative and creative.
• Argyris's theory is based on mature personality and practices inhibit classical management principles.
• Psychological success occurs when people define goals.
• The Management practices accoomodate by increasing task responsibility and decision making.
• Foundations for devlopments include quantity, systems and thinking.

Management Foundations

• New developments in management rely on quantitive analysis and tools.
• Typical approach managerical problem and optimal solution is identified.
• Organization's System is based on parts that achieve a common purpose.
• Subsystem Is smaller of a larger system and open systems transform resource inputs.
• Contingency Thinking that matches managearial responses and is the way to depend on the sitaution.
• Quality Managment conscious managers link with advantage to conscious workers.
• In Total quality management a comprehensive approach helps improvement.
• Total management means meeting customer needs.
• To improve, be ISO certified , meet the Refine upgrade.
• Evidence Management is based on facts and should be well conducted.
• Employment is secure here with self anaging teams, High merit and share distinctions.

Ethics and Social Responsibility

• Ethics is a moral code of principles establishing the code of standards.
• Ethical behavior is accepted as good and right in code.
• Law does not dictate ethical behaviour.
• Personal values help determine ethical behaviors.
• Terminal values are preferences about life in the desired goals.
• Instrumental values means such as honesty and ambitions for the desired goals.
• Moral rights view maintaing the rights of all human behnings
• Individualism- behaviour promotes long term self interests
• Justice behaviour- shws fair and impartial treatmemt.
• Utilitarian views-behaviour for good with the people .
• Fair ,impartial treatment of people
• Procedural police: rules applies firly to individuals.
• Disruptive justice- Fair otucome to all concerned.
• Iinteractional justice- treat perosnnel wiht respect.
• Commutative fairness.transactions.
• Cultural Issues: behavioural relativisim and one is determinined by context
• Moral should not be accepted and one standard.
• In Workplaces with action/no clear consensus with right/wrong action needed.
• .Recgonize ethical dileemma then gets tests from others, follow options.
• Double checks are done and action is to take it before make strategic makign;
• Ethical framework provide prsonnel. rules.
• Kohlbregs level involve individuals; moraly deveoplrment post consventional/principles and precenternend.
• Situational content for etthic intensity where organisation settign occur.
• Rationalziation : behaviour is not ilegial,best interset ,everfind out organization protection.
• moral managment are ethical, not consideers ,ethicallly.

High Ethic Standars

• In Ethical training structured program helps participtants.understand ecthical.

• Ethics training must include high standards. everyday behaviours in code. Ethical coducts formal sets of standards.

• areas of ethics: citizen and illegal acts. Corporate relation and co workers relation.

• Confidentiality/corporate info and legal protection continully tested in course.

• In whisltlers barries included work chain and ambiguous identities.

• Stakholders are people and group effect company .

• Ethicasl stakholders can't positively/negatively effect operation.

• demand legitmacy means organisation validity and organisation.

• issue URGENCY means immediate care.

• Corporate means how org behave wiht their shareholders.

• Obligations organizations: social interest and society at large.

• stewspships take org to be good

• sustainability : support quality of GENERATIONS like water and clean energy.

• tripple: people.planet.profit views classifical view socio classicall- maximize. proift,socio-welface

• shared value : interconnected progress

• virtious cirlce bahaviour improve peormfancce more,

• argument against is bad for the market, public account and profits.

• favourit is has profits etc.

• Obstrcuctionist/ defsneive, acomodatitve an pro acitve.

• copreatw top management oversees organinzation board .

• hirung, firing verifyin.

• law must help busines and high perofmaence.

ethics seflgovernanc eperofamnce and society to leader of the board

External Enviornment

• econmoic the health.
• LEgal is the laws norms values .the demogprahcis use/avalibiliti
• natural is status preservation fo recourses.
• external- law, forum , trend and soicai value.
• tecnohglyg infrastrutiate What are the financial markets/INFLATION and coorprative Tech social med and promtoions. •

nucler major concern

Creation and Value

(task) specific is who conduct the biz and it is also impotent

Includes key important: like regulators etc Business, suppluers and government

The value and has the market has the competior adavatanges and oragnziatioin that difficult to cppy.

Costs. Delivery, flexibilties .

• no clear or complet informattion and two dementions
• degure of complexity . are these factors table .

Disruptive Innovation: creates the products and becomes wildly used. Cell phone: traditional MP3 players/ cassettes

Innovation the process to address and solve New products, process mode Environment and sustinatibltu:y Protect generations Sustinablity ,capitola ,atmopshere, lahd water minerals Ppl, planet performance. Sustainble business : need people ad the impact

• wellenss help for management/employee.
• reduce stess and wages.

Manage and Gloabel

Globinzaing the world econmom and managing/ org wth interests in diffrent countries .

The goabel persepctive/cuurrent infromation and .internationals transations/ business acorss boardies. and prfit /realsitecs

• profot suppoers etc all areas that happen.
• marlting strating involve goods no expenisve strats.

Entering the Market

• stragetic alliance

• global sourcing

• joint venture licensing agreement

• exporting

• franchsing

• improing,subsidary direct investement

• Insurcouing refers to realitoins that come fomr investion.

• joint, strateic and foreign subies

• findaicla sound, customer partner for the join veuttner

• systesm, agreeemtn allinace to glalbe biz poltiic risk and disrutive of curyt

Values

transnation with no home in the corpration global - business

• profit
• dminaiton of local overpriced .failure ethcal challeneges
• corruptop ,child cultrue- beliefe /pattens .shokc- discomofer. adpapti adn adjuets. • high context cultures . power is disctances an dvalue. what is orientation.

Leaning manageing

1 of manage is competivitio . Compartive how manage differ culutre? Skill and charac to be susccessusl Need suuceslful . parctives should not be everyhwere that is

• engage critcial thinkign .consdier always cultral thginkng and
• look evy where new manageaemtns.