Management Principles - Mgt 3013 PDF

 Chapter 1—The Management Process Today – Part 1 1. What is management? Process of planning, organizing, leading, and controlling 2. What are the four tasks of management? Panning Establish goal...

 Chapter 1—The Management Process Today – Part 1 1. What is management? Process of planning, organizing, leading, and controlling 2. What are the four tasks of management? Panning Establish goals and create detailed action plans Organizing Determine distribution of resources and organize employees according to plan Leading Connecting with employees on an interpersonal level in order to communicate, motivate and inspire employees Controlling Evaluate the results: setting performance standards, evaluate performance, correct actions to achieve goals 3. What are the goals of management? # 1 Efficiency: how well or how productively resources are used to reach goals ↳ Minimizing input resources and time to produce goods / services # 2 Effectiveness: appropriateness of goals in pursuit and the degree to how they're achieved L Choosing appropriate goals new achieve them 4. What are levels of manager? What do different level of managers do? Management : planing, organizing, leading, and controlling of human and other resources to achieve organizational goals effectively and efficiently Essential tasks: plan, organize, lead, and control Levels on Manager groups = by the level of hierarchy or type of skill next pg. 5. What skills a manager should have? ·  Levels of managers CEO Top managers #Ultimately responsible for success or failure of an org. # Responsible for performance of * all depts. Cross-departmental responsibility Middle managers * Supervise first- line managers * Develop / fine tune skills & know - how (manufacturing or marketing) * Make suggestions to top managers First-line managers * Often called supervisorS * Daily supervision of non-managerial employees * Work In all departments / functions of an org. Conceptual skills: ability to analyze and diagnose situations btwn cause and effect Human skills: ability to understand, alter, lead, all control behaviors of individuals and groups Technical skills: job-specific knowledge and techniques required to preform an organization role  Chapter 1—The Management Process Today – Part 2 1. What makes management practice change? Global competition: competition for resources, increased pressure Advances in information technology (it): move/ better info to plan, organize, lead and control 2. What are recent changes in management practice? Should be able to provide and analyze examples. Restructuring: simplifying, shrinking, or downsizing an orgs operations to [ lower costs Bad Effect # Reducing morale of remaining employees (job insecurity) * Employees complain about overwork Customers complain abt bad service · 3. What are the five challenges for managers under the pressure of global environment? Outsourcing: contracting with other companies (usually abroad) to preform an activity that the org previously preformed ↳ Ex: manufacturing, marketing Empowerment: giving employees more authority / responsibility over how they perform their work activity ↳ An extension of knowledge Self-managed team: group of employees who assume responsibility for organizing, controlling, and supervising their own activities / monitoring quality of goods and services  => Creating A competitive advantage = ability to outperform other orgs for producing goods/services more efficiently *Efficiency Building *Innovation. Blocks *Quality *Responsiveness to customers Maintaining ethical/socially responsible standards L Social responsibility = deciding obligations (if any) a company has towards people / groups affected by its activities. Behaving unethically or even illegally for profits, like ignoring Back rect work conditions, polluting, buying inferior clothing Managing a diverse workforce Required to treat Human Resources fairly and equitably Diversity HelpS resist global challenges Utilizing information technology (it) and e-commerce Practicing global crisis management Natural cause: environmental disasters Human causes: pollution, war, environmental destruction, etc.  Chapter 2—Values, Attitudes, Emotions, and Culture: The Manager as a Person – Part 1 1. What is personality? ⑮ A set of characteristics that influence and individuals behavior, feelings, thoughts, etc. 2. What are Big Five Personality? What is the relationship between neuroticism and emotional stability? O -openness to experience # Curious, imaginative, creative Best predictor C -conscientiousness *Tendency to be responsible, organized, self-disciplined of job E -extraversion Energy, positive, sociable A -agreeableness* Being friendly, compassionate, gentle performance N -neuroticism (low = emotional stability) * Less = Being calm, secure, and self-confident *Neuroticism is the tendency to experience unpleasant emotions (high end) * 3. What is locus of control? What are the differences between internal locus of control and external locus of control? Locus of control - ppls beliefs and views of how much control they have over what happens to/around them *Internal = in control/responsible for their own fate (managers need this => bc they are responsible for making a difference) *External = external factors are responsible, not them (don’t take action) 4. What is self-esteem? E The degree to which individuals feel good about themselves and what they are capeable of * High = competent, deserving, capable of handling most situations (want > - in a manager) * Low = trouble accepting feedback, fear of failure Chapter 2—Values, Attitudes, Emotions, and Culture: The Manager as a Person-Part 2 1. What are terminal and instrumental values? Terminal values = desired end state (goals/objectives) Ex: comfortable life, freedom, social recognition Instrumental values = preferable mode of behavior (seeks to follow) Ex: Responsible, honest, self-controlled 2. What are job attitudes? What are job satisfaction and organizational commitment? ↳ Collection of feelings and beliefs > two - Parts ↓ Job satisfaction = feelings/beliefs abt current jobs (high = like job, low = dislike) 2 Organizational commitment = feelings/beliefs abt the organization as a whole (high = like organization, low = dislike organization) 3. What are moods and emotions? What are the differences between moods and emotions? - Factors that inference how manages make decisions, planning, organizing Moods - feeling/state of mind + excited, enthusiastic, active — distressed, fearful, nervous, hostile Emotion = intense and short-lived feeling, caused by a specific event 4. What is emotional intelligence? - Ability to understand/manage one’s moods and emotions and others Aka-DEQ or ei * Promotes Effective leadership  Chapter 3--Managing Ethics and Diversity – Part 1 1. What is ethics? I inner guiding moral principles, values, and beliefs ppls use to analyze or interpret a situation to then make a decision 2. What is ethical dilemma? + A situation where ppl have to decide if they will act in a way that will help another person or group, even if it means going against their own self-interest 1) The lesser of two evils 1 Ex: trolly problem 3. Who will be influenced by an organization’s unethical behaviors? Stakeholders: ppl and groups that supply a company with its productive resources -> have a claim on and a stake in the company * Employees * Suppliers/distributers * *Community, society, nation-state Stockholders *Managers *Customers Ex: growing disparity btwn rewards given to ceos and employees 4. What are the differences between ethics and laws? Both are not fixed principles ↳ Can change over time is Laws = provide guidance on what is right (more like rules)  Chapter 3--Managing Ethics and Diversity – Part 2 1. What is diversity? ⑮ Dissimilarities/differences among ppl like age, gender, race, religion, etc. *Increasing diversity is the #1 issue for managers over the past decades Ex: age discrimination, gender discrimination, racial discrimination, disability ( discrimination The Fix Equal employment laws = helps prohibit discrimination / protect oneself 2. Why do we need to care about diversity issue? Diversity raises important ethical issues and social responsibility issues I Being ethical imperative - all ppl should receive equal opportunities, be : treated fairly and just 2:Effectively managing diversity improves organizational effectiveness 3:Diverse individuals continue to experience unfair treatment 3. What are the benefits of diversity for organizations? A source of competitive advantage * Better problem solving *Creativity *Provides Better goods/services Increase retentions of valued employees * Emphasizes importance of diversity in hiring *Reduce cost of rehiring Improves employee motivation/productivity Avoid costly lawsuits *Managers should take an active role to manage the diversity at the workplace *