Daft 14 Chapter 1 Outline PDF

MANAGEMENT Peter Drucker, an influential Austrian-American author, mentor and consultant, is considered the father of modern business management. Management is about human beings. Task to make people capable of joint performance, make their strengths effective and...

MANAGEMENT Peter Drucker, an influential Austrian-American author, mentor and consultant, is considered the father of modern business management. Management is about human beings. Task to make people capable of joint performance, make their strengths effective and weaknesses irrelevant Have people report to you! Don’t necessarily generate revenue themselves ©2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 1  Peter Drucker on Management (again) Knowledge, especially advanced knowledge, is always specialized. By itself it produces nothing. Yet a modern business, and not only the largest ones, may employ up to 10,000 highly knowledgeable people who represent up to sixty different knowledge areas. Engineers of all sorts, designers, marketing experts, economists, statisticians, psychologists, planners, accountants, HR people... all working together in a joint venture. None would be effective without the managed enterprise ©2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 2  Amazon’s organizational chart Non e effe would c the tive wi be m t ente anage hout r pr i d se Production Manager Operations M Legal Acctg M Customer Serv Design ©2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 3  i nt ro BUSINESS Functional areas of business –> activities needed to run a business: finance marketing (can be a subfield of management) accounting management ©2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 4  intro MANAGEMENT Subfields of Management: tr ate g ic Mgmt 560 Int’l S M GMT 5 −Strategic Management (the macro side) −Organizational Behavior (the micro side) MGM T 5920 Org Behavior+  HRM MGMT5820 H RM + 0 Org C h ange & 97  Organizational Development MGMT5Mgmt Innov MGMT4000 Oper ations −Operations Management (the quant side ofMmgmt) gmt+ ©2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5  Chapter 1: Leading Edge Management ©2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 6  Learning Objectives By the end of this chapter, you should be able to: 1. Define and understand the four Management functions 2. Explain the difference between efficiency and effectiveness 3. Describe the 3 Management skills - technical, human, & conceptual 4. Define Management types – horizontal & vertical 5. Understand Management Roles ©2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 7  Textbook definition of Management Attainment of organizational goals in an effective & efficient manner through planning, organizing, leading, and controlling resources ©2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 8  Rapid Environmental Shifts -> Impact Management technology (social media, AI) move to knowledge/info-based economy (rather than goods-producing) global market forces shifting expectations by employees & customers Thus, would expect Management of people to change over time ©2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 9 Management Competencies for Today’s World ©2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 10 Recall... Four Functions of a Manager: planning  organizing  leading  control ©2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 11  Organizational Performance Organizational effectiveness: degree to which the organization achieves a stated goal; gets the job done Organizational efficiency: refers to the amount of resources used to achieve an organizational goal − ex. Self checkout = more expensive in short term, long term you save money on employees = more efficient ©2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 12 Effectiveness vs. Efficiency Yes, but you’re not Our actually going process is anywhere extremely efficient ©2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 13  Management Skills Conceptual most Three categories of skills: important o technical Manage managers o human o conceptual Technical most important Managers need all 3 skills but the importance of each depends on level in the hierarchy. ©2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 14  1.7 Making the Leap from Individual Performer to Manager ©2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15  Management Types: Vertical Lower-level (supervisory managers): responsible for production of goods and services (manage people that do the work = need to be an expert on the work) Middle managers: responsible for business units and major departments Top managers: responsible for the entire organization ©2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 16 16 Done have to Management Types: Horizontal Memorize Different types General managers: Responsible for several departments that perform different functions Functional managers: Responsible for departments that perform a single task Project managers: Responsible for temporary work projects involving people from different functions and levels Line managers: Responsible for departments that perform a core function of the organization Staff managers: Responsible for departments that support the organization’s line departments with specialized advisory or support functions ©2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 17  1.8 Ten Manager Roles (3) INFORMATIONAL INTERPERSONAL DECISIONAL ©2022 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 18