Questions and Answers
Managers are primarily concerned with achieving efficiency over effectiveness.
False
Good managers can create a multiplier effect in an organization.
True
Studying management only helps in dealing with organizations from the inside.
False
Practicing management can lead to a sense of accomplishment for both managers and employees.
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Jeff Bezos started Amazon while working on Wall Street.
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Study Notes
Technical Skills
- Most important at lower levels of management (first professional job, first-line managers)
Conceptual Skills
- More important for top managers dealing with ambiguous problems with far-reaching consequences
Human Skills
- Most difficult to master, especially important in teams
Valuable Traits in Managers
- Ability to motivate and engage others
- Ability to communicate
- Work experience outside the US
- High energy levels for global travel and 24/7 work
Challenges to Being an Exceptional Manager
Challenge #1: Managing for Competitive Advantage
- Staying ahead in four areas: responsiveness to customers, innovation, quality, efficiency
Challenge #2: Managing for Technological Advances
- Dealing with ecommerce, data, and artificial intelligence
- Organizational changes, knowledge management, and collaborative computing
Challenge #3: Managing for Inclusion and Diversity
- Maximizing contributions of diverse employees (gender, age, race, ethnicity, sexual orientation)
Challenge #4: Managing for Globalization
- Understanding cultural differences to manage globally
- Globalization: increasingly interconnected nature of business
Challenge #5: Managing for Ethical Standards
- Importance of ethical standards in every area of life
- Ethical lapses can cause harm beyond financial harm
Leadership and Career Growth
- General Motors CEO Mary Barra's rise to leadership
- Jeff Bezos' career growth through doing new things
The Art of Management
- Management: getting things done through people
- Exceptional managers are task-oriented, achievement-oriented, and people-oriented
Value of Managers
- Good managers create value through efficiency and effectiveness
- Manager's influence has a multiplier effect on the organization
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