MGT 101 Concepts and Dynamics of Management PDF

MGT 101 Concepts and Dynamics of Management  tc p d o o op y d o o c no t c p d o c p y no c p d o n DEPARTMENT OF AGRIBUSINESS MANAGEMENT AND ENTREPRENEURSHIP do n t c op y d op y d o o co COLLEGE OF ECONOMICS...

MGT 101 Concepts and Dynamics of Management  tc p d o o op y d o o c no t c p d o c p y no c p d o n DEPARTMENT OF AGRIBUSINESS MANAGEMENT AND ENTREPRENEURSHIP do n t c op y d op y d o o co COLLEGE OF ECONOMICS AND MANAGEMENT t c op y d o ot Management 101: Concepts and Dynamics of Management INTRODUCTION TO MANAGEMENT n Let’s Begin no t c p t Prior to beginning this course, you may have been wondering what management really is. You o y may also have been wondering if you yourself possess the qualities of a good manager. In this n introductory module, we will be going through the fundamental terminologies and concepts in the world of organizational management. You will also be introduced to the skills required to t be a successful manager—an impactful role that you may likely find yourself fulfilling in the future. y n At the end of this session, you are expected to be able to: 1. Explain what management is and its value in organizations. 2. Describe who a manager is and what the role entails. 3. Describe the different functions and levels of management. o 4. Identify key challenges of modern management. y n o y o o o t do Page 1 of 6 Week 1: Introduction to Management  tc p d o o op y d o o c no t c p d o c p y no c p d o n DEPARTMENT OF AGRIBUSINESS MANAGEMENT AND ENTREPRENEURSHIP do n t c op y d op y d o o co COLLEGE OF ECONOMICS AND MANAGEMENT t c op y d o ot Management 101: Concepts and Dynamics of Management INTRODUCTION TO MANAGEMENT Handout for Week 1 n no t c p What is management? t Management is the process of planning, organizing, leading, and controlling the work of organization members and using available resources to reach organization goals. It is the process of coordinating and o y integrating work activities. It is the practice of consciously and continuously shaping organizations. n t What is an organization? An organization is defined as a deliberate arrangement of people to accomplish some specific purpose. The common characteristics of organizations are: y Have a distinct purpose (goal) n Composed of people Have a deliberate structure Who is a manager? o y Robbins and Coulter define a manager as “someone who coordinates and oversees the work of n other people so organizational goals can be accomplished.” At its core, being a manager is about helping others do their work. A manager is: o Someone who works with and through other people Person responsible for directing the efforts An organization member who integrates and coordinates the work of others Why study management? y o o According to Robbins and Coulter, the following explain why studying management will be an important aspect of your budding professional career: o The universality of management – Management is needed in all types and sizes of organizations, at all organizational levels and in all organizational work areas, and in all organizations, no matter where they’re located. The reality of work – Employees either manage or are managed. t Rewards and challenges of being a manager o Management offers challenging, exciting and creative opportunities for do meaningful and fulfilling work o Successful managers receive significant monetary rewards for their efforts Gaining insights into life at work – Understanding management concepts and how managers think will help you get better results at work and enhance your career. Page 2 of 6 Week 1: Introduction to Management  tc p d o o op y d o o c no t c p d o c p y no c p d o n DEPARTMENT OF AGRIBUSINESS MANAGEMENT AND ENTREPRENEURSHIP do n t c op y d op y d o o co COLLEGE OF ECONOMICS AND MANAGEMENT t c op y d o ot Management 101: Concepts and Dynamics of Management The four management functions n What activities do managers often find themselves performing? According to Daft, the no t c p t following functions of management are important in achieving the goals of any organization efficiently and effectively: o y 1. Planning – Setting goals and deciding on the tasks and resources needed to attain them n 2. Organizing – Assigning tasks, grouping tasks into departments, and allocating resources to departments t 3. Leading – Using influence to motivate employees to achieve organizational goals 4. Controlling – Monitoring employees’ activities, keeping the organization on track toward y its goals, and making corrections as needed n The roles managers play Canadian academic and author Henry Mintzberg identified three main categories of roles played by managers with ten subtypes. They are summarized in Figure 1 below. Would you o y happen to possess (or be inclined to develop) any of these qualities? n o y o o o t do Figure 1. The Roles managers play. (Attribution: Copyright Rice University, OpenStax, under CC-BY 4.0 license) Page 3 of 6 Week 1: Introduction to Management  tc p d o o op y d o o c no t c p d o c p do n t c op y no c p d o n DEPARTMENT OF AGRIBUSINESS MANAGEMENT AND ENTREPRENEURSHIP do n t c op y d op y d o o co COLLEGE OF ECONOMICS AND MANAGEMENT t c op y d o ot Management 101: Concepts and Dynamics of Management Management Levels n Depending on the scope of their responsibilities and the department/s they lead, managers follow a certain hierarchy in an organization. This is shown in Figure 2 below: t y n t y n o y n o Figure 2. Levels in the management hierarchy. (Attribution: Copyright Rice University, OpenStax, under CC-BY 4.0 license) o Each of the above management ranks are briefly described as follows: Executive management (or “top management”) o Responsible for the whole organization o Concerned about the long-term future, the external environment, and the y o o organization’s overall success o Example titles: CEO, president, chairperson, executive director, etc. o Middle management o Responsible for business units and major departments o Implement the overall strategies and policies defined by top managers o Concerned about the near future t o Example titles: department head, division head, director of research and development First-line management o Responsible for the production of goods and services o Concerned application of rules and procedures to achieve efficient production, provide technical assistance, and motivate subordinates o Example titles: supervisor, line manager, office manager Page 4 of 6 Week 1: Introduction to Management  tc p d o o op y d o o c no t c p d o c p do n t c op y no c p d o n DEPARTMENT OF AGRIBUSINESS MANAGEMENT AND ENTREPRENEURSHIP do n t c op y d op y d o o co COLLEGE OF ECONOMICS AND MANAGEMENT t c op y d o ot Management 101: Concepts and Dynamics of Management Skills required in successful management Robert L. Katz explains in his article, “Skills of an Effective Administrator” (Link: n https://hbr.org/1974/09/skills-of-an-effective-administrator), that managers need three main t skills for them to be successful in their roles. The skills are as follows: 1. Technical skills – Job-specific knowledge and techniques needed to proficiently perform work tasks y 2. Interpersonal skills – The ability to work well with other people individually and in a n group 3. Conceptual skills – The ability to think and to conceptualize about abstract and complex t situations Depending on the manager’s rank in the organization, these three skills will be used to varying y n degrees. The following figure provides a how these skills relate to the managerial levels: o y n o o y o o Figure 3. Difference in skills required for successful management according to level in the hierarchy. (Attribution: Copyright o Rice University, OpenStax, under CC-BY 4.0 license) How is the manager’s job changing? New technologies. Changing lifestyles. A growing population. A global pandemic. In an t ever-evolving world, disruptions in many forms are a constant presence in a manager’s realm of responsibilities. Robbins and Coulter categorize the major sources of change that impact the way managers plan, organize, lead and control: 1. Focus on the customer 6. Focus on the employee 2. Focus on technology 3. Focus on social media 4. Focus on innovation 5. Focus on sustainability Page 5 of 6 Week 1: Introduction to Management  tc p d o o op y d o o c no t c p d o c p y no c p d o n DEPARTMENT OF AGRIBUSINESS MANAGEMENT AND ENTREPRENEURSHIP do n t c op y d op y d o o co COLLEGE OF ECONOMICS AND MANAGEMENT t c op y d o ot Management 101: Concepts and Dynamics of Management References n Bright, D., et.al. 2019. Principles of Management. OpenStax. Retrieved August 20, 2020, from h no t c p t ttps://openstax.org/details/books/principles-management o Daft, R. L. (2016). Management. Cengage Learning. y n Katz, R. (1974, September). Skills of an Effective Administrator. Retrieved August 20, 2020, from h ttps://hbr.org/1974/09/skills-of-an-effective-administrator t Robbins, S. P., & Coulter, M. K. (2018). Management. Pearson. y n o y n o y o o o t do Page 6 of 6 Week 1: Introduction to Management