Principles of Management and Leadership

Management and Leadership Intro

• Career growth comes from doing things never done before.
• Management involves achieving organizational goals efficiently and effectively by integrating people's work, resources, and requires planning, organizing, leading, and controlling organizational resources.
• Efficiency is using resources wisely and cost-effectively.
• Effectiveness means achieving results and organizational goals through the right decisions.
• Being both efficient and effective is difficult.
• The multiplier effect is when a manager's influence extends beyond individual results.
• Studying management offers insights for dealing with organizations and relating to supervisors and co-workers.
• Practicing management rewards include accomplishment, magnified abilities, building a catalog of work, and mentorship.

Management Functions

• Planning: Setting goals and deciding how to achieve them.
• Organizing: Arranging tasks, people, and resources to accomplish the work.
• Leading: Motivating, directing, and influencing people to achieve organizational goals.
• Controlling: Monitoring performance, comparing it to goals, and taking corrective action if needed.

Management Levels

• Top Managers: Make long-term decisions and set the overall direction.
• Middle Managers: Implement top management's policies, supervise, and coordinate first-line managers.
• First-Line Managers: Make short-term operating decisions and direct daily tasks.
• Team Leaders: Facilitate team activities to help achieve goals.
• Nonmanagerial Employees: Work alone or on tasks with others.
• Functional Managers: Responsible for a single activity.
• General Managers: Responsible for several activities.

Types of Organizations

• For-profit: Aims to make money.
• Nonprofit: Offers services.
• Mutual-benefit: Aids members.

Manager Roles

• Managers are always in demand, spending time communicating, and must be purposeful and proactive.
• Interpersonal roles are figurehead, leader, and liaison.
• Informational roles are monitor, disseminator, and spokesperson.
• Decisional roles are entrepreneur, disturbance handler, resource allocator, and negotiator.
• Figurehead: Showing visitors around and presenting ethical guidelines.
• Leadership: Being responsible for subordinates' actions.
• Liaison: Building alliances to achieve goals.
• Monitor: Constantly seeking useful information.
• Disseminator: Sharing information with employees.
• Spokesperson: Representing the organization positively.
• Entrepreneur: Encouraging innovation.
• Disturbance handler: Fixing problems.
• Resource allocator: Setting resource priorities.
• Negotiator: Working internally and externally to achieve goals.

Manager Skills

• Technical: Performing specific job tasks.
• Conceptual: Thinking analytically.
• Human: Interacting effectively with people.
• Managers need to motivate, communicate, and handle global travel.
• Seven challenges for managers are customer response, tech advancements, inclusion, globalization, ethical standards, sustainability, happiness, and meaningfulness.
• Career-readiness: Knowledge, skills, and attributes desired by employers.

Deming's 4 Kinds of Knowledge

• Knowledge of systems: Understanding consequences.
• Knowledge of variation: Differentiating common vs. special causes.
• Knowledge of knowledge: Understanding how information is acquired.
• Knowledge of psychology: Knowing how people think.
• Managers should aim to predict outcomes.
• Management integrates work, uses resources efficiently, and achieves goals effectively.
• Efficiency involves wise resource use.
• Effectiveness means achieving set goals.
• Organizations are made of people, hence interaction is needed.
• Measurable goals are essential, aligning with what is measured.

Four Principle Management Functions

• Planning: Includes exit strategies.
• Organizing: Keeping things orderly.
• Leadership: Guiding people to do what is needed.
• Controlling: Monitoring and correcting actions.

Management Levels

• Top-Level: Making long-term decisions.
• Middle: Managing policy, planning, and implementation.
• First-Line: Implementing daily tasks
• Team leaders: Ensuring tasks are completed.
• General Managers: Oversee multiple activities.
• Functional Managers: Oversee only one activity.

Organizational Types

• For profit organizations aims to make money.
• Non profit organizations offers service to other.
• Mutual benefit organizations caters to the interests of it's members.

Manager Responsibilities

• Include communicating information, time management, interpersonal, informational, and decisional roles.

Management Theory

• Peter Drucker created and invented of modern management.
• Workers should be treated as assets, incorporating human elements, understanding the important of consumers, and focusing on management practices as opposed to charismatic cult leaders.
• Management theory helps in understanding the present, creating action plan, source for new ideas, deciphering manager's decisions, and events.
• Scientific Management uses work methods to improve worker productivity.
• Fredrick Taylor is the father of scientific management.
• Consists of 4 principles which includes evaluating each task scientifically, select skilled workers and give them proper training for the job, and use scientific principles to plan work methods so workers can do their jobs easier.
• Frank and Lillian Gilbreth use models to conduct motion studies. Therblig represents the 17 basic motions a worker can perform, this link physical movements and workers efficiency.
• Administrative Management's goal is to manage the total organization.
• Fayol identifies the major functions of management and Spaulding focuses on necessities.

Bureaucracy Characteristics

• Max Weber’s bureaucracy is efficient, rational, structured and relies on logical principles but focuses more on the logical principles than the status and creates a well defined sense of hierarchy and formal procedures and impersonality.
• The classical view is that it is mechanistic, and sees humans as cogs, but the behavioral view emphasize the understanding of human behavior. For example, there's the famous Hawthorne effect.
• Hugo Munsterberg who is known as the father of industrial psychology, believes in finding the right workers for the job, identify which conditions they best work under and use management strategies to keep them aligned with where management wants to be.
• Mary Parker Follett talks about managers and employees working cooperatively in harmony, using integration to resolve conflicts with the work being under the relevant knowledge rather than authority, with the managers taking on the facilitator role.
• Abraham Maslow's hierarchy of needs states that the order dictates what an individual need to reach complete personal satisfaction for example, you can't be the best you if your physiological needs are struggling

McGregor's Theories

• Douglas McGregor came up with Theory X and Theory Y
• Theory X, which is pessimistic view of the employee, where they are lazy, don't like work, and need leading
• Theory Y which is the optimistic view, where they are self-directed, creative and can accept responsibility Obviously, theory Y is preferred as it is the most progressive, the truth lies somewhere in between
• The behavioral science approach relies on scientific research for developing theories about behaviors. Quantitative Viewpoints and Evidence-Based Management

Quantitative Management

• The application of quantitative techniques to management.
• Operations management focuses on managing the production.
• Supply chain involves creating products starting from the very beginning, designing, and obtaining raw materials and having it end on when it reaches hand of customers
• Translating principles, which helps guide them into organizational practice.

The Systems Viewpoint

• The organization has parts that all depend one another for each other function properly. One is affects everyone and we can see that in the four parts of the system, which are inputs, transformational processes, outputs, and feedback. Feedback is info about the reaction of the environment to the outputs that affects the inputs
• Open system- Continually interacts with the environment
• Closed system- has very little interaction with the environment Synergy - The idea that 2 or more forces can create an effect much greater than the sum of their individual effects
• Complexity theory helps study the pattern of chaotic systems.
• The contingency view depends on the individual circumstances that affects how managers should react. 3 Contemporary approaches to Management:
• Learning Organizations
• High Performance Work Practices
• shared value of sustainable development

Learning Organization

• Actively creates new resources, acquires and transfer any type of knowledge and adjust their behavior as needed

3 Parts of a Learning Organization

1. Creating and acquiring knowledge
2. Transferring Knowledge
3. Modifying Behavior

• High performance work practices will enhance an employees abilities, motivation, and opportunities as needed.
• Organizations are made equal by the talents that can effectively attract, select, hire, develop.
• Managing career readiness means you know the company's mission and it's vision statements

Chapter 3: Ethical Responsibilities

• Triple Bottom Line: Represents the people, planet, and the profit earned and measures an organization's environmental, financial, and social performance. With social audit being their systematic, measured performance. Millennials and Gen Z care most about the triple bottom line
• Stakeholders are the people whose interests are affected by what the business does
• Task Environment consists of: • unions, lenders, customers, interest groups, governments, employees, etc.
• General Environment consists of: • Economic, technological, international, etc.

The Employees

• The Talent represents the most important resource they have.
• Owners are those who have a legal property organization
• Board of Directors are a team that are elected to overlook the decisions and acts of the managers to ensure the shareholders and their best interest
• The Task Environment has 10 groups that interact with it and are there to serve to the customer.

The General Environment

• A broad set of uncontrollable forces that can affect and impact the organization

Moral Conduct

• Ethical Dilemmas: the set of actions that you are faced with that can either help you or your organization, but is considered illegal or unethical
• Value System: the pattern of values within an organization, such as the utilitarian or justice approach
• One example would be inside trading, workplace cheating, and levels of moral development
• Organizations promote ethics by creating an ethical environment and tone.
• Social Responsibility: a managers responsibility that can take actions of great benefit to both society and organization. With two levels of social responsibility.
• Corporate Governance and what they consider the interest of shareholders.

Chapter 3 In-Class Notes

• Triple bottom line is profits, planet (environment), and people. It is best to compare the ethical standards verse the environmental trade offs that are put in place Six common issues:

1. Conflicts of interest- contrary to the mission of the organization
2. Abusive Behaviours
3. Health and safety issues
4. Corruption- using organizational power for personal gain
5. Discrimination- based on race/ age/ orientation
6. Sexual harassment Values- determine behaviour and attitudes within an organization for requirements of resolving conflict The levels of moral development are: • Preconventional- follow the rules for the sake of the rules • Conventional- you do what everyone else is doing • Post conventional- do the right thing

• Promote ethical behaviour and work towards benefiting society . Capitalism with a conscience, that is ethical behaviour, tends to pay off
• Young folks want to be more ethical in there works. In comparison to old folks, and America's "just" companies tend to do better by 6%

Chapter 4 Global Management

• Number 2 in the world for competitiveness behind Singapore
• Globalization is the trend and shift for a more independent world economy system
• Three influential effects: Electronic commerce, national markets, the rise of both mega firms and internet enabled mini firms worldwide
• "Global Village" and e-commerce consists of the communication of transferring information to the usage of electronics
• A shift in space in travel due to electronic media makes communications a lot easier
• Economy is based on markets; national markets, easy startups
• Cross culture Awareness is the ability to operate with different cultural settings
• Managers are more geocentric rather than Ethnocentric or polychromatic the superior level of their own native culture verse the understanding of native personalized practices verse what truly works.
• Make or save money with the usage of global market space, availability of supply, lower costs, and capital with trade quotas Trade Regulations helps to protect by limiting the amount of goods and services that are moved Sanctions / Embargoes
• Organizations promoting trade helps by monitoring trade through tariffs- taxation; sanctions to help enforce trade agreements • World trade organization • World bank • International monetary trade – helps to increase and boost nations
• Trading bloc- the process of nations removing any barrier's in their geographical location • NAFTA • EU union PAC trade agreement

Culture

• Understand the beliefs, values, knowledge, and share ideas, but need a cultural understanding of what someone perceives and how one cultural operates

Chapter 5 - Planning

• Consists of the ability to set goals and plan the action that is taken after
• Business model to help outline any expectation during an operation/ business with what may/ will be expected during any unpredicted revenue and expenses
• A Strategic organization is a process for managers for the implementation of strategic goals and objectives.
• The formulation of implementing the strategy is important because it provides direction, momentum, new ideas with a competitive advantage.
• Need to understand the purpose of each that can formulate your vision that will enhance organizational performance, goals, and overall performance

SMART goals

• specific, measurable, attainable, results-oriented, and has target dates, but that are set through 4 steps
• set objectives, create action plans that are periodic, and will ensure an appraisal with rewards are aligned with an employees overall efforts
• cascading goal, ensure it has a more specific goal overall to be able to meet the top leader decision verse being on the lower levels.
• To complete this the plan is that the plan is made for a cycle of control to properly lead the objective as needed for an overall goal

Chapter 7 Rational Decision Making

• Comprises of 4 steps, Identify the problem, all the alternative, evaluate an effective set, implement
• To make ensure it's working the course of action will either give it more time, change it slightly, or try a different solution altogether • Can use past experiences to learn
• Ethical lapses occur with less forgiveness, regulations from the exploitation of global economy, but to complete and analyze to see if there is better use data to support
• Must always be improving and not be afraid to change things Common Mistakes

1. The bias used to be one sided when it needs to be random
2. To not support your beliefs
3. not factor if they have resources or not
4. to recognize timing constraints Important to make you limitations and look forward;

• Categorical thinking or (label making) Important to have discussions with the group. That can lead to more points of knowledge stimulation with the people

Chapter 8: Organizational Culture and Structure

• Organizational culture influences the members of their beliefs and values.
• Organizational structure coordinates task reporting relationships that motivates and assists in the goals of that company.
• Resources help to manage the best capital with all the activities from training, comp, and staff development.

3 Levels of Culture

• Observable

• Values

• Basic

• Employee can learn through, symbols, rituals, stories/ socializing. 4 types of culture: • clan, Adhocracy, market and hierarchy Organizations makes intentional decision the employee performs to benefit the entire strategic goal overall. A manager has the right to delegate as needed while making sure his team members understand organizational features.

Chapter 9 in class– HR management

HR needs to need, plan, attract, implement, retain quality employees, while making them feel like the value. Strategic- designing and implementing that is best to improve, an external and internal fix the levels of the company. Both productive potentials of the employee knowledge helps the business as a whole. Approaches HR- matching employees with jobs, also providing access to systems that can help create great work. Select the right individuals in order provide the right amount of support needed. To promote consistent work. Important things to remember, help clarify and include them, provide expectations and check in for any additional questions.