Introduction to Technopreneurial Management PDF

INTRODUCTION TO TECHNOPRENEURIAL MANAGEMENT Lesson 1  S. Moyo Technopreneurship Development Centre [email protected]  Lesson Outcomes At the end of this lecture, students should be able to: Define a manager, management and technopreneurial ma...

INTRODUCTION TO TECHNOPRENEURIAL MANAGEMENT Lesson 1  S. Moyo Technopreneurship Development Centre [email protected]  Lesson Outcomes At the end of this lecture, students should be able to: Define a manager, management and technopreneurial management Understand the purpose and importance of management. Explain what Managers do. Give an overview of the levels of management.  Quotes "Management is, above all, a practice where art, science, and craft meet" - Henry Mintzberg The single most important variable in employee productivity and loyalty isn’t pay or benefits or workplace environment; it’s the quality of the relationship between employees and their direct supervisors - Gallup Organization  What is a Manager? A person who plans, organizes, leads and controls the allocation of resources in pursuit of the organizational goals.  What is Management? The art of doing work through others. Knowing exactly what you want people to do, and then seeing that they do it in the best and cheapest way. The process of working with and through others to achieve organisational objectives efficiently and ethically.  What is Management? Management is a discipline, a practice and a process which involves working with and through people. The planning, organising, leading and controlling of resources to achieve organisational goals effectively and efficiently.  Technopreneurial Management It involves the planning, organising, leading and controlling of resources and technology to achieve organisational goals in an innovative manner. It is directing, organising and developing people, technology and financial resources to provide innovative products and services through an organisational system.  Why Study Management? To gain soft skills in managing yourself To develop skills in managing other people in an organisation (professional, social, religious, political) To understand the tools to use in managing resources (human, technology, financial etc) To gain knowledge essential to be a successful manager in a company or a business owner To effectively manage a project and its team members To improve society’s standard of living.  Purpose of Management The purpose of management is to improve organisational performance. Organisational performance is a measure of how efficiently and effectively managers use available resources to satisfy customers and achieve organisational goals.  Exercise People leave managers and not organisations when they resign from work. Discuss  Importance of Management People form groups in order to accomplish aims they cannot achieve as individuals. Society increasingly relies on group effort, so organised groups have grown larger. Management is critical in ensuring the coordination of individual efforts. Consequently, the task of managers has been rising in importance. Managers determine whether our social institutions serve us well or whether they squander our resources.  Importance of Management (cont.) Keeping abreast of current and future industry trends Efficient and effective allocation of resources (people, capital, equipment, computers & IT, raw materials etc) Growth and expansion of business Employee motivation and staff development Managing internal and external stakeholders (customers, suppliers, investors, regulators, unions) Introduction of innovative products, services & technology  What Do Managers Do? Functions approach Roles approach Skills / Competencies approach  Functions Approach Promulgated by Henri Fayol, an engineer/executive at a large French mining company: Planning: Setting organisational goals, identifying courses of action. Organising: Arranging structures and tasks to enable optimum utilisation of resources. Leading: Motivation of staff to perform work effectively and efficiently. Controlling: Implementation of monitoring systems to measure achievement of goals.  Functions of Management (cont.) PLANNING What are the organization’s long-term objectives? What strategies will best achieve those objectives? What should the organization’s short-term objectives be? How difficult should individual goals be? ORGANIZING How many employees should I have report directly to me? How much centralization should there be in the organization? How should jobs be designed? When should the organization implement a different structure?  Functions of Management (cont.) LEADING How do I handle employees who appear to be low in motivation? What is the most effective leadership style in a given situation? How will a specific change affect worker productivity? When is the right time to stimulate conflict? CONTROLLING What activities in the organization need to be controlled? How should those activities be controlled? When is a performance deviation significant? What type of management information system should the organization have?  Roles Approach Henry Mintzberg’s Managerial Roles: Interpersonal Roles Figurehead Leader Liaison Informational Roles Monitor Disseminator Spokesperson Decisional Roles Entrepreneur Disturbance handler Resource allocator Negotiator  Skills/Competence Approach Developed by Robert L. Katz and others: Conceptual skills are the skills managers use to analyze and diagnose complex situations. They help managers see how things fit together and facilitate making good decisions. Interpersonal skills are those skills involved with working well with other people both individually and in groups to communicate, motivate, mentor, and delegate. Technical skills, which are the job-specific knowledge and techniques needed to perform work tasks. Political skills to build a power base and establish the right connections. Management Levels Top Managers Middle Managers Lower Managers 20 20  Exercise How has technology impacted management of organisations?