Fundamentals of Management PDF

Fundamentals of Management 1–1 Organizations ▪ Organization ▪ A systematic arrangement of people brought together to accomplish some specific purpose ▪ Applies to all organisations—for-profit as well as not-for-profit organisations ▪ Where managers work (manage)...

Fundamentals of Management 1–1 Organizations ▪ Organization ▪ A systematic arrangement of people brought together to accomplish some specific purpose ▪ Applies to all organisations—for-profit as well as not-for-profit organisations ▪ Where managers work (manage) ▪ Common characteristics ▪ Goals ▪ Structure ▪ People Common Characteristics of Organizations People Differences ▪ Operatives ▪ People who work directly on a job or task and have no responsibility for overseeing the work of others ▪ Managers ▪ Individuals in an organization who direct the activities of others Organizational Levels Top-Level ▪ What do these acronyms represent on a management team? ▪ CEO, COO, CMO, CTO, CFO ▪ Vice Presidents or division heads sometimes part of top management team ▪ Responsible for long-term success ▪ Set goals and pay careful attention to the external environment ▪ Economy, law proposals, consumer/public relations ▪ Make financial investments Middle Managers ▪ Department heads, Project managers, chief supervisors ▪ Links between top and first-line managers ▪ Receives broad strategic plans with specific objectives ▪ Encourages, supports, and fosters employees ▪ Provides leadership First-Line Managers ▪ Entry level- “on the line” ▪ Close contact with workers ▪ Responsible for organizational objectives and plans ▪ Assistant managers, shift managers, foremen, section chiefs, office managers ▪ Focuses on internal issues- must communicate Operatives (Team Leaders) ▪ Reports to first-line or middle manager ▪ Develops timelines, specific work assignments, provides training to team, communicates clear instructions ▪ Makes sure the team is operating efficiently ▪ Positions may be eliminated when new team must be formed Management Defined ▪ Management ▪ The process of getting things done effectively and efficiently, through and with other people ▪ Efficiency ▪ Means doing the thing correctly; refers to the relationship between inputs and outputs; seeks to minimize resource costs ▪ Effectiveness ▪ Means doing the right things; goal attainment Efficiency and Effectiveness  Management Process Activities Management process: Planning Organizing Leading Controlling  Planning ▪ Defining goals and tackling them ▪ Defines the future of the organization- long- term plans ▪ Develops strategic plans ▪ Long-term and affects the entire organization ▪ Bridges the gap between what an organization is and what it wants to be ▪ Tactical plans ▪ Translate strategic plans into specific actions- who, what, where, etc. Organizing ▪ Includes determining ▪ What tasks to be done ▪ Who is to do them ▪ How the tasks are to be grouped ▪ Who reports to whom ▪ Where decisions are to be made Leading ▪ Uses knowledge, character, and charisma to inspire the achievement of goals ▪ Leads by ▪ Communication ▪ Building Commitment ▪ Creating shared values ▪ Encouraging high performance ▪ Uses the power of granting rewards and punishments Controlling ▪ Unexpected issues will arise ▪ Controlling ▪ process of monitoring activities, measuring performance, comparing results, making corrections ▪ Observing and responding to what happens ▪ The feedback loop ▪ The most important aspect of controlling is that managers must be kept informed. Thank You