Management and Managers PDF

Management and Managers P-O-L-C Planning, Organizing, Leading, Controlling Top Managers, Middle Managers, First-Line, Team Leader, Non-managerial Employees - Interpersonal roles (figure head, leader) - Informational roles (spokesperson, disseminator, monitor) - Decisional...

Management and Managers P-O-L-C Planning, Organizing, Leading, Controlling Top Managers, Middle Managers, First-Line, Team Leader, Non-managerial Employees - Interpersonal roles (figure head, leader) - Informational roles (spokesperson, disseminator, monitor) - Decisional roles (Negotiator, Entrepreneur) Management Theories   Understand how different parts of an organization come together to achieve its goals  Open vs closed systems  Synergy in a system: Effect that is greater than the sum of individual efforts Behavioral viewpoint: Emphasized the importance of understanding human behavior and motivating employees toward achievement Interesting experiments at Hawthorne Works of the Western Electric Company from 1924-1932 Impact of work setting on worker fatigue and performance Strategic Management SWOT = Strengths, Weaknesses, Opportuinities and Threats PESTLE = Political, Economic, Sociological, Technological, Legal, Environmental Porters Five Forces = The threat of new entrants - The bargaining Power of suppliers If suppliers are strong, that company in the industry cannot go without. Switching from one supplier to another is easy. The bargaining power of Buyers If customers can switch between suppliers, when customers are large. They can leave reviews on social media. The threat of substitute products VRIO = Value, Rarity, Imitability and Organization  to access competitiveness Forecasting = Predicting the Future Benchmarking = Comparing the best Strategic Management II Organizational Structure Organizational Culture