Chapter 1 Intro to Management PDF

FAAS1043 INTRODUCTION TO BUSINESS MANAGEMENT Dr Monica Cheng 012-7315435 Chap 1 INTRODUCTION TO MANAGEMENT  Learning outcomes Define management Describe the management process or functions of P-O-L-C Describe the levels of management, and management skills Describe the...

FAAS1043 INTRODUCTION TO BUSINESS MANAGEMENT Dr Monica Cheng 012-7315435 Chap 1 INTRODUCTION TO MANAGEMENT  Learning outcomes Define management Describe the management process or functions of P-O-L-C Describe the levels of management, and management skills Describe the roles of managers What is an organization? a systematic arrangement of people brought together to accomplish some specific purpose. common characteristics :- a distinct goal and purpose comprises people working together to accomplish certain objectives a systematic structure an aim to serve society  Definition of Management Mary Parker Follett (1868-1933) - the art of getting things done through people Henri Fayol (1916) - to forecast and plan, to organize, to command, to coordinate and to control Frederick Winslow Taylor (1886) - to determine the overall policy of a business organization - the effective and efficient ways to achieve organizational objectives Koontz and Weihrich (1990) - the process of designing and maintaining an environment in which individuals as group efficiently accomplish selected goals  What is Management? the process of getting things done, effectively and efficiently, with and through other people Efficiency Effectiveness R Efficiency – doing things right E G S O O A U L R Goals Low High Effectiveness – doing the right things C E Waste Attainment A T T U A S I A N G M E E N T Process of Management Four main management functions: - Planning (Thinking functions) Controlling Organizing (Doing functions) (Thinking functions) Leading (Doing functions) Process of Management Planning (Thinking functions) Process of defining goals, establishing strategies and developing action plans to coordinate activities towards accomplishing organizational goals Process of Management Organizing (Thinking functions) Process of determining what tasks are to be done, who is to do them, how the tasks are to be grouped, who reports to whom, and who will made decisions Process of Management Leading (Doing functions) Process of directing and influencing all organizational members involved, motivating them and resolving conflicts towards achieving organizational goals Process of Management Controlling (Doing functions) Process of monitoring performance, comparing it with goals, and correcting any significant deviations  Level of Management Level of management Top Level determine a chain of Management command – the amount of authority and status Middle Level Management enjoyed by managerial positions. Lower-Level Management  Level of Management Top Level Management Responsible for the overall management of an organization, establishing operating policies and guiding the organization’s interaction with its environment CEO, President, Vice President  Level of Management Middle Level Management Middle level managers direct the activities of lower- level managers, responsible for setting objectives that are consistent with top level management goals, and translating those goals into specific goals and plans for the implementation of first line managers. marketing manager, finance manager and so forth  Level of Management Lower-Level Management responsible for the work of non-management employees, but do not supervise other managers directly responsible for the production of goods and services, rely on planning and administration, self- management, teamwork and communication competencies to get work done first-level managers are often called supervisors  Skills of Management Managers need certain skills and competencies as they manage others 3 basic managerial skills :- i. Technical skills ii. Human skills iii. Conceptual skills  Skills of Management Technical skills ability to utilise job-specific knowledge of tools, techniques and procedures which are specific to a particular field to perform a task.  Skills of Management Human skills ability to work effectively with one’s own work group as well as others ability to lead, motivate and communicate effectively  Skills of Management Conceptual skills ability to analyse and diagnose complex situations to see how things fit together and to facilitate making good decisions A Model of Essential Management Skills Source: Whetten and Cameron (2016)  Roles of Managers Henry Mintzberg concluded that managers need to assume multiple roles to meet the many demands of performing their functions. He identified 10 roles: interpersonal, informational and decisional  Roles of Managers Interpersonal roles Managers are responsible for managing relationships with organizational members and the society To ensure that information is provided  Roles of Managers Informational roles Involve a manager gathering and disseminating information to stakeholders of an organization  Roles of Managers Decisional roles make significant use of the information process information and reach conclusions Roles of Managers  Interpersonal Figurehead Performs ceremonial and symbolic E.g. receiving duties, such as greeting visitors visitors and making and signing legal documents. presentations Liaison Maintains information links both E.g. lunches with inside and outside an organization suppliers or via email, phone calls, and customers meetings. Leader Directs and motivates E.g. seeking to subordinates; guides and build teamwork and communicates with subordinates. foster employee commitment  Informational Monitor Seeks and receives information; E.g. reading reports scans periodicals and reports; and interrogating maintains personal contact with subordinates stakeholders Disseminator Forwards information to E.g. passing organizational members via privileged memos, reports and phone calls information to subordinates Spokesperson Transmits information to outsiders E.g. a sales via reports, memos and speeches presentation to prospective customers  Decisional Entrepreneur Initiates improvement projects; identifies E.g. launching a new new ideas and delegates idea realization idea or introducing responsibilities to others procedures such as a cost reduction programme Disturbance handler Takes corrective action during disputes E.g. strikes or crises; resolves conflicts among subordinates; adapts to environments Resource allocator Decides who gets resources; prepares E.g. approving budgets; set schedules and determines expenditure on a priorities project Negotiator Represents department during E.g. drawing up negotiations, such as negotiations for contracts with suppliers union contracts sales, purchases and budgets Thank you