Week 1 Notes on Management - PDF

Week 1 - NOTES : De nitions of Management : The art of getting things done through people (Hill & Mc Shane, 2008) The attainment of organizational goals in an effective ef cient manner ( through planning, organizing, leading controlling ) organizational resources (Da...

Week 1 - NOTES : De nitions of Management : The art of getting things done through people (Hill & Mc Shane, 2008) The attainment of organizational goals in an effective ef cient manner ( through planning, organizing, leading controlling ) organizational resources (Daft, 2008) What is Management ? : Organizations : collections of people who work together , coordinate their actions to achieve a wide variety of goals/desired future outcomes (All managers work in organizations) Management planning, organizing, leading, controlling of human & other resources to achieve organizational goals e ciently and e ectively. Resources: ‘Include assets such as’: 1. People and their skills, know-how, and experience. 2. Machinery.o 3. Raw materials. 4. Computers and information technology. 5. Patents, nancial capital, and loyal customers and employees. Achieving High Performance : A Manager’s Goal One of the most important provide some kind ofgood or goals that organizations and service that customers value their members try to achieve: or desire It takes a balance of : quality needs of customers against the pressure to be cost-effective. fi fi ffi ff fi  Organizational performance: A measure of how e ciently and e ectively managers use available resources to satisfy customers and achieve organizational goals. E ciency: A measure of how well or how productively resources are used to achieve a goal. Wendy’s fat fryers use less oil and are quicker. E ectiveness: A measure of the appropriateness of the goals an organization is pursuing and the degree to which the organization achieves those goals. McDonald’s resumed their all-day breakfast after suspending it during the pandemic. ff ffi ffi ff Four Functions of Management : Planning: Choose appropriate organizational goals and courses of action to best achieve those goals. Organizing: Establish task and authority relationships that allow people to work together to achieve organizational goals. Leading: Motivate, coordinate, and energize individuals and groups to work together to achieve organizational goals. Controlling: Establish accurate measuring and monitoring systems to evaluate how well the organization has achieved its goals. Planning Steps: 1. Decide which goals the organization will pursue. 2. Decide what strategies to adopt to attain those goals. 3. Decide how to allocate organizational resources. Managers identify and select appropriate organizational goals and develop strategies for how to achieve high performance. Organizing: Structuring working relationships in a way that allows organizational members to work together to achieve organizational goals; of the four principal functions of management. Managers deciding how best to organize resources, particularly human resources. Organizational structure: A formal system of task and reporting relationships that coordinates and motivates organizational members so that they work together to achieve Example : organizational goals.challenge Airbnb’s COVID-19 Leading: Articulating a clear vision and energizing and enabling organizational members so they understand the part they play in achieving organizational goals. An organization’s vision is a short, succinct, and inspiring statement of what the organization intends to become and the goals it is seeking to achieve its desired future state. Involves managers using their power, personality, in uence,persuasion, and communication skills to coordinate people and groups. fl Controlling: Evaluating how well an organization is achieving its goals and taking action to maintain or improve performance. Managers monitor performance of individuals, departments, and the organization as a whole to determine if they are meeting performance standards. Levels and Skills of Managers Department: A group of managers and employees who work together and possess similar skills or use the same knowledge, tools, or techniques. Example: the manufacturing, accounting, engineering, or sales department. Levels of Management : First-line managers (often called supervisors): Responsible for the daily supervision of the non-managerial employees. Paint foreman overseeing a crew of painters at a university. Middle managers: Supervises rst-line managers. Responsible for nding the best way to use resources to achieve organizational goals. High school principal or a marketing manager. Top managers: Responsible for the performance of all departments. Cross-departmental responsibility. ◦ Establish organizational goals. ◦ Decide how di erent departments should interact. ◦ Monitor how well middle managers in each department use ◦ resources to achieve goals. President of a university. fi ff fi Types of Managerial Skills Conceptual skills: The ability to analyze and diagnose a situation and distinguish between cause and e ect. Human skills: The ability to understand, alter, lead, and control the behavior of other individuals and groups. Technical skills: Job-speci c knowledge and techniques required to perform an organizational role. fi ff