Mgt 101 Study Guide PDF

FM-AA-CIA-15 Rev. 0 10-July-2020 Study Guide in Mgt 101: Management and Marketing in the 21st Century Module No. 1 STUDY GUIDE FOR MODULE N...

FM-AA-CIA-15 Rev. 0 10-July-2020 Study Guide in Mgt 101: Management and Marketing in the 21st Century Module No. 1 STUDY GUIDE FOR MODULE NO. 1 INTRODUCTION TO MANAGEMENT MODULE OVERVIEW Hi #BSBAby! Welcome to Mgt 101! This is the first every major subject in your college life. Mgt 101 is a foundation course to prepare the BSBA students for higher level course. For ABM students, this is a review of some of your subjects taken on your senior high school. If you are non-ABM, there is no need to worry! This course is actually added to the curriculum for you! This is a bridging course for you to have a background of what’s ahead of you in your #BSBAJourney. Mgt 101 is actually a combination of Management and Marketing. The first half (Midterms) which cover Topics 1 to 5 is all about management. While the second half (Finals) covers Topics 6 to10 and is all about marketing. Since this is the first module, we will start with the evolution of management and we proceed with the discussion of what management is all about, managers and their roles and also the importance studying it. Go to www.menti.com and enter the code: 94 12 19 6. Write down three words you associate with management. Write this way: All contents are heavily drawn from our main reference book, Management (14 th ed.) by Robbins & Coulter (2018). MODULE LEARNING OBJECTIVES At the end of this module, you should be able to: 1. Describe the different theories and approaches in the history of management 2. Recognize who managers are and where they work 3. Explain why managers are important to organizations. 4. Describe the functions, roles, and skills of managers. 5. Describe the factors that are reshaping and redefining the manager’s job. 6. Explain the value of studying management. A. EVOLUTION OF MANAGEMENT Henry Ford, a business magnate and the founder of Ford Motor Company, once said, “History is more or less bunk.” Well, he was wrong! History is important because it can put current activities in perspective. In this topic, we’re going to take a trip back in time to see how the field of study called management has evolved. What you’re going to see is that today’s managers still use many elements of the historical approaches to management. Only through reflection can we fully appreciate the effects of the past on present thought and action. Use this knowledge to become effective managers by learning from past mistakes and successes. The evolution of management can be summarized in the figure below: PANGASINAN STATE UNIVERSITY 1  FM-AA-CIA-15 Rev. 0 10-July-2020 Study Guide in Mgt 101: Management and Marketing in the 21st Century Module No. 1 Early Management. This period talks about the first proofs of management practice such as construction of Egyptian Pyramids and Great Wall of China. Adam Smith also introduced the importance of division of labor (job specialization). Another early management example is the industrial revolution which emphasized that production in factories (mass production) is so much better than producing at home (craft-style). Classical Approach: Frederick W. Taylor, known as the “father” of scientific management, studied manual work using scientific principles—that is, guidelines for improving production efficiency—to find the one best way to do those jobs. The Gilbreths’ primary contribution was finding efficient hand-and- body motions and designing proper tools and equipment for optimizing work performance. Fayol believed the functions of management were common to all business endeavors but also were distinct from other business functions. He developed 14 principles of management from which many current management concepts have evolved. Weber described an ideal type of organization he called a bureaucracy—characteristics that many of today’s large organizations still have. Today’s managers use the concepts of scientific management when they analyze basic work tasks to be performed, use time- and-motion study to eliminate wasted motions, hire the best qualified workers for a job, use adaptive robotics to boost worker efficiency, and design incentive systems based on output. They use general administrative theory when they perform the functions of management and structure their organizations so that resources are used efficiently and effectively. Behavioral Approach. The early OB advocates (Robert Owen, Hugo Munsterberg, Mary Parker Follett, and Chester Barnard) contributed various ideas, but all believed that people were the most important asset of the organization and should be managed accordingly. The Hawthorne Studies dramatically affected management beliefs about the role of people in organizations, leading to a new emphasis on the human behavior factor in managing. The behavioral approach has largely shaped how today’s organizations are managed. Many current theories of motivation, leadership, group behavior and development, and other behavioral issues can be traced to the early OB advocates and the conclusions from the Hawthorne Studies. Quantitative Approach. The quantitative approach involves applications of statistics, optimization models, information models, and computer simulations to management activities. Today’s managers use the quantitative approach, especially when making decisions, as they plan and control work activities such as allocating resources, improving quality, scheduling work, or determining optimum inventory levels. Total quality management—a management philosophy devoted to continual improvement and responding to customer needs and expectations—also makes use of quantitative methods to meet its goals. Contemporary Approaches. The systems approach says that an organization takes in inputs (resources) from the environment and transforms or processes these resources into outputs that are distributed into the environment. This approach provides a framework to help managers understand how all the interdependent units work together to achieve the organization’s goals and that decisions and actions taken in one organizational area will affect others. In this way, managers can recognize that organizations are not self-contained, but instead rely on their environment for essential inputs and as outlets to absorb their outputs. The contingency approach says that organizations are different, face different situations, and require different ways of managing. It helps us understand management because it stresses there are no simplistic or universal rules for managers to follow. Instead, managers must look at their situation and determine that if this is the way my situation is, then this is the best way for me to manage. LEARNING ACTIVITY 1 PANGASINAN STATE UNIVERSITY 2  FM-AA-CIA-15 Rev. 0 10-July-2020 Study Guide in Mgt 101: Management and Marketing in the 21st Century Module No. 1 Continue reading the topic on the ebook, Management (14th ed.) by Robbins & Coulter (2018) on pp. 66-77. Also, check on the ebooks/journals below. Write short notes (may be in a notebook or you can encode) to be passed and compiled at the end of the semester. Short notes means your takeaways, new learnings and the most important concepts that you have read. You will do this for the rest for the semester. ❑ A chapter of a book: https://www.zamaros.net/mgt%20reading%202%20- %20history%20of%20mgt.pdf ❑ Cummings, Stephen & Bridgman, Todd & Rowlinson, Michael. (2017). A New History of Management. 10.1017/9781316481202. o Link: https://www.researchgate.net/publication/320979385_A_New_History_of_Manageme nt ❑ F., Kwok. (2014). The Evolution of Management Theories: A Literature Review. Nang Yan Business Journal. 3. 10.1515/nybj-2015-0003. o Link: https://www.researchgate.net/publication/307760441_The_Evolution_of_Managemen t_Theories_A_Literature_Review Reflection Question/s (Code: T1_RQ1) What are the different principles of Management according to Fayol? Describe each. Can scientific management principles help you be more efficient? Choose a task you do regularly at home this quarantine (such as laundry, washing dishes, cooking a certain dish, grocery shopping, etc.). Analyze it by writing down the steps involved in completing that task. See if any activities could be combined or eliminated. Find the “one best way” to do this task. And the next time you have to do the task, try the scientifically managed way! See if you become more efficient (keeping in mind that changing habits isn’t easy to do). I will be choosing three of you to share your experience, so you better be prepared, yes? Good luck! B. WHO ARE MANAGERS AND WHERE DO THEY WORK? Who are Managers Managers coordinate and oversee the work of other people so that organizational goals can be accomplished. Nonmanagerial employees work directly on a job or task and have no one reporting to them. In traditionally structured organizations, managers can be first-line, middle, or top. In other more loosely configured organizations, the managers may not be as readily identifiable, although someone must fulfill that role. Levels of Management In traditionally structured organizations where there is a hierarchy, can be visualized in the figure below: PANGASINAN STATE UNIVERSITY 3  FM-AA-CIA-15 Rev. 0 10-July-2020 Study Guide in Mgt 101: Management and Marketing in the 21st Century Module No. 1 first-line (frontline) managers: Managers at the lowest level of management who manage the work of nonmanagerial employees middle managers: Managers between the lowest level and top levels of the organization who manage the work of first-line managers top managers: Managers at or near the upper levels of the organization structure who are responsible for making organization-wide decisions and establishing the goals and plans that affect the entire organization Where do Managers Work? Managers work in an organization, which is a deliberate arrangement of people to accomplish some specific purpose. Organizations have three characteristics: They have a distinctive purpose, they are composed of people, and they have a deliberate structure. Many of today’s organizations are structured to be more open, flexible, and responsive to changes Three Characteristics of an Organization An organization has a distinct purpose typically expressed through goals the organization hopes to accomplish. Second, each organization is composed of people. It takes people to perform the work that’s necessary for the organization to achieve its goals. Third, all organizations develop a deliberate structure within which members do their work. C. WHY ARE MANAGERS IMPORTANT What Can a Great Boss Do? ✔ Inspire you professionally and personally ✔ Energize you and your coworkers to accomplish things together that you couldn’t get done by yourself ✔ Provide coaching and guidance with problems ✔ Provide you feedback on how you’re doing ✔ Help you to improve your performance ✔ Keep you informed of organizational changes ✔ Change your life Reasons Why Managers are Important Managers are important to organizations for three reasons. First, organizations need their managerial skills and abilities in uncertain, complex, and chaotic times. Second, managers are critical to getting things done in organizations. Finally, managers contribute to employee productivity and loyalty; the way employees are managed can affect the organization’s financial performance, and managerial ability has been shown to be important in creating organizational value. PANGASINAN STATE UNIVERSITY 4  FM-AA-CIA-15 Rev. 0 10-July-2020 Study Guide in Mgt 101: Management and Marketing in the 21st Century Module No. 1 D. WHAT DO MANAGERS DO? Broadly speaking, management is what managers do and involves coordinating and overseeing the efficient and effective completion of others’ work activities. Efficiency means doing things right; effectiveness means doing the right things. The four functions of management include planning (defining goals, establishing strategies, and developing plans), organizing (arranging and structuring work), leading (working with and through people), and controlling (monitoring, comparing, and correcting work performance). Mintzberg’s managerial roles include interpersonal, which involve people and other ceremonial/symbolic duties (figurehead, leader, and liaison); informational, which involve collecting, receiving, and disseminating information (monitor, disseminator, and spokesperson); and decisional, which involve making choices (entrepreneur, disturbance handler, resource allocator, and negotiator). Katz’s managerial skills include technical (job-specific knowledge and techniques), interpersonal (ability to work well with people), and conceptual (ability to think and express ideas). Technical skills are most important for lower-level managers, while conceptual skills are most important for top managers. Interpersonal skills are equally important for all managers. Some other managerial skills identified include managing human capital, inspiring commitment, managing change, using purposeful networking, and so forth. PANGASINAN STATE UNIVERSITY 5  FM-AA-CIA-15 Rev. 0 10-July-2020 Study Guide in Mgt 101: Management and Marketing in the 21st Century Module No. 1 LEARNING ACTIVITY 2 Continue reading the topics on pages 40-48, your e-book, Management (14th ed.) by Robbins & Coulter (2018) and watch the video “Definition of Management” on https://www.youtube.com/watch?v=_OBqwhYLEJo Write short notes about them (may be in a notebook or you can encode) to be passed and compiled at the end of the semester. Short notes means your takeaways, new learnings and the most important concepts that you have read. Virtual Interview (Code: T1_Vi) Interview two different managers (via Facebook, text or call) and take note of their name, age, company/branch and the number of years they work as manager. Ask them the following questions: (1) What are the best and worst parts about being a manager? (2) What’s the best management advice you ever received? Compare both managers, are there differences and similarities on their answers? Reflection Questions (T1_RQ2) If you have work experience (or during your SHS immersion), consider managers who you have encountered. Did you work with any good managers? Did you work with any bad managers? Based on your experience, create a list of traits or skills that good managers possess. E. HOW IS THE MANAGER’S JOB CHANGING? The changes impacting managers’ jobs include global economic and political uncertainties, changing workplaces, ethical issues, security threats, and changing technology. Managers must focus on customer service because employee attitudes and behaviors play a big role in customer satisfaction. Managers must focus on technology as it impacts how things get done in organizations. Managers must focus on social media because these forms of communication are important and valuable tools in managing. Managers must focus on innovation because it is important for organizations to be competitive. Managers must also focus on sustainability as business goals are developed. And finally, managers must focus on employees in order for them to be more productive. PANGASINAN STATE UNIVERSITY 6  FM-AA-CIA-15 Rev. 0 10-July-2020 Study Guide in Mgt 101: Management and Marketing in the 21st Century Module No. 1 LEARNING ACTIVITY 3 Continue reading the topics on pages 49-53, your e-book, Management (14th ed.) by Robbins & Coulter (2018) and these articles: o Tovmasyan, Gayane. (2017). The Role of Managers in Organizations: Psychological Aspects. Business Ethics and Leadership. 1. 20-26. 10.21272/bel.1(3).20-26.2017. Link: https://www.researchgate.net/publication/320561102_The_Role_of_Managers_in_Organizations_Psy chological_Aspects o https://www.eversheds- sutherland.com/global/en/what/articles/index.page?ArticleID=en/Health_and_safety/COVID19_and_th e_critical_role_of_managers_in_supporting_wellbeing_in_the_workplace o https://www.hrexchangenetwork.com/employee-engagement/articles/how-managers-can-become- heroes-of-the-covid-19-crisis Write short notes about them (may be in a notebook or you can encode) to be passed and compiled at the end of the semester. Short notes means your takeaways, new learnings and the most important concepts that you have read. You will do this for the rest for the semester. Use the articles to answer the reflection questions. Reflection Question/s: (Code: T1_RQ3) How did managers’ roles change during the COVID19? How do managers become “heroes” in this time of pandemic? Share your insights with your classmates. Again, I will be choosing three of you to share what you have written. Good luck! F. WHY STUDY MANAGEMENT It’s important to study management for three reasons: (1) the universality of management, which refers to the fact that managers are needed in all types and sizes of organizations, at all organizational levels and work areas, and in all global locations; (2) the reality of work—that is, you will either manage or be managed; and (3) the awareness of the significant rewards and challenges in being a manager. LEARNING ACTIVITY 4: Continue reading the topic on the ebook Management (14th ed.) by Robbins & Coulter (2018) on pp. 53-55. Write short notes (may be in a notebook or you can encode) to be passed and compiled at the end of the semester. Reflection Question/s: (T1_RQ4) After reading, share your own *personal* reason why is it important to study management. Quiz #2 PANGASINAN STATE UNIVERSITY 7  FM-AA-CIA-15 Rev. 0 10-July-2020 Study Guide in Mgt 101: Management and Marketing in the 21st Century Module No. 1 We will have a short quiz. I will be sending the link of the quiz. You can only answer once and make sure you answer them when you’re ready. Answer the questions as honest as possible. Wait, look up, someone’s watching you ☺ You know the drill: Do not ask your classmates for the questions and learn on your own ☺ Advanced Reading: Our next topic is about the first function of management, which is planning. You may read Chapter 8, on the ebook Management (14th ed.) by Robbins & Coulter (2018) on page 288-305. SUMMARY ❖ The management history can be summarized in five periods / approaches: Early Management, Classical Approach, Behavioral Approach, Quantitative Approach and Contemporary Approach. These approaches have significant contributions to what the concept of management is now. ❖ Managers coordinate and oversee the work of other people so that organizational goals can be accomplished. And managers work in an organization, which is a deliberate arrangement of people to accomplish some specific purpose. ❖ Managers are important to organizations for three reasons. First, organizations need their managerial skills and abilities in uncertain, complex, and chaotic times. Second, managers are critical to getting things done in organizations. Finally, managers contribute to employee productivity and loyalty. ❖ There are four functions of management: Planning, Organizing, Leading and Controlling. ❖ The changes impacting managers’ jobs include global economic and political uncertainties, changing workplaces, ethical issues, security threats, and changing technology. ❖ It’s important to study management for three reasons: (1) the universality of management; (2) the reality of work—that is, you will either manage or be managed; and (3) the awareness of the significant rewards and challengers in being a manager. REFERENCES o Cummings, Stephen & Bridgman, Todd & Rowlinson, Michael. (2017). A New History of Management. 10.1017/9781316481202. o F., Kwok. (2014). The Evolution of Management Theories: A Literature Review. Nang Yan Business Journal. 3. 10.1515/nybj-2015-0003. o https://www.eversheds- sutherland.com/global/en/what/articles/index.page?ArticleID=en/Health_and_safety/COVID19_and_th e_critical_role_of_managers_in_supporting_wellbeing_in_the_workplace o https://www.hrexchangenetwork.com/employee-engagement/articles/how-managers-can-become- heroes-of-the-covid-19-crisis https://www.youtube.com/watch?v=_OBqwhYLEJo o https://www.zamaros.net/mgt%20reading%202%20-%20history%20of%20mgt.pdf Robbins, S. & Coulter, M. (2018). Management. (14th ed.). Pearson Education Limited Tovmasyan, Gayane. (2017). The Role of Managers in Organizations: Psychological Aspects. Business Ethics and Leadership. 1. 20-26. 10.21272/bel.1(3).20-26.2017. PANGASINAN STATE UNIVERSITY 8