Integrated-Business-Principles-Course-Materials-Week1-2.pdf

DISCLAIMER: The information content provided in this course material is designed to provide helpful information on the subjects discussed. Some information are compiled from different materials and summarized from different books. Some information are based from contributors' perspective and underst...

DISCLAIMER: The information content provided in this course material is designed to provide helpful information on the subjects discussed. Some information are compiled from different materials and summarized from different books. Some information are based from contributors' perspective and understanding. References are provided for informational purposes only and do not constitute endorsement of websites or other sources. Readers should be aware that the websites/electronic references listed in this course material may change. Hence, the contributors do not claim any information presented in the materials and do not reflect their own work. Subject Code: BBINTBPX Subject Title: Integrated Business Principles Subject Description: The course is an insightful journey towards understanding what management is, its importance and issues arising in the organization. The four functions of management will help students to come up with different strategies on how to handle a certain organization. Satisfying customers with a good blend of the 4P’s to help the business grow and attain its goals. No. of Units: 3 SM Baliwag Complex, Dona Remedios Trinidad Highway, Brgy. Pagala, Baliwag, Bulacan (+63) 927-533-0342 – (+63) 923-949-5265 [email protected] Course Learning Outcomes: At the end of this course, the student will be able to: 1. Define management, describe the kinds of managers found in an organization. 2. Identify and explain the four basic functions of management. 3. Describe the dynamic of globalization and apply the sharing, sustaining and cultural international environment. 4. Describe how to use SWOT analysis in formulating strategy 5. Apply motivation theories to leverage human capital. 6. Define stress management and apply the problem solving and decision making. 7. Demonstrate the effective performance of a team as the team leader or a group member. 8. Apply techniques that allow them to understand situations that require constructive confrontation skills with the goal of resolving organizational conflicts. 9. Determine strategies to use in 4P’s to attain organizational goals. About the Instructor: Prof. Francis Allan C. Bernales, MBA, CDMP, CFMP, MICB, CDSA Contact Information: [email protected] Topics: Week 1-2 Module 1 : Introduction to Management What Management is? Functions of Management Fundamental Management Skills Management Levels & Skills Organization’s Environment Ethical and Social Environment of Management SM Baliwag Complex, Dona Remedios Trinidad Highway, Brgy. Pagala, Baliwag, Bulacan (+63) 927-533-0342 – (+63) 923-949-5265 [email protected]  MODULE 1: INTRODUCTION TO MANAGEMENT I. Pre-test / Activity: 1. What is your concept of Management? 2. Have you become a leader in your class or group? How did you handle your members? 3. What are the characteristics of a leader and a boss? 4. How does leader and boss differ with each other? II. Learning Outcomes 1. Define management, describe the kinds of managers found in an organization. 2. Identify and explain the four basic functions of management. III. Content: ❖ What is Management? A set of activities (including planning and decision making, organizing, leading and controlling) directed at an organization’s resources (human financial, physical, and information), with the aim of achieving organizational goals in an efficient and effective manner. Organization- a group of people working together in a structured and coordinated fashion to achieve a set of goals. Manager- someone whose primary responsibility is to carry out the management process. Efficient-using resources wisely in a cost-effective way. Effective- making the right decisions and successfully implementing them. ❖ Functions of Management 1. Planning- is specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals. Planning activities include analyzing current situations, anticipating the future, determining objectives, deciding in what types of activities the company will engage, choosing corporate and business strategies, and determining the resources needed to achieve the organization’s goals. 2. Organizing- is assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals. Organizing activities include attracting people to the organization, specifying job responsibilities, grouping jobs into work units, marshaling SM Baliwag Complex, Dona Remedios Trinidad Highway, Brgy. Pagala, Baliwag, Bulacan (+63) 927-533-0342 – (+63) 923-949-5265 [email protected]  and allocating resources, and creating conditions so that people and things work together to achieve maximum success. 3. Leading-is stimulating people to be high performers. It includes motivating and communicating with employees, individually and in groups. Leading involves close day-to- day contact with people, helping to guide and inspire them toward achieving team and organizational goals. Leading takes place in teams, departments, and divisions, as well as at the tops of large organizations. 4. Controlling-monitors performance and implements necessary changes. By controlling, managers make sure the organization’s resources are being used as planned and that organization is meeting its goals for quality and safety. ❖ Management Styles Analysts who study management have identified several effective leadership styles. There is no one best style of management, and some people will feel more personally suited to one type or another. You can also select elements of different styles of management to create the best archetype for you and your company. Here, we briefly review three positive management styles that can help make any manager a more effective leader. Persuasive Management Style A compelling leader spends a lot of time with their team members. Being engaged with employees allows the persuasive manager to lead by example, and to gain buy-in and compliance from the team by persuading rather than instructing or demanding. Influential managers are aware of the work that their team members are doing on a day-to-day basis and are involved in their work lives. Democratic Management Style A democratic manager invites the team to be directly involved in decision-making. Open lines of communication between democratic managers and employees allow these types of managers to understand the skills and advantages that each employee brings to the table. Open participation and exchange of ideas among different levels of employees allow everyone to contribute to the outcome of a decision or a project. This style of management is more successful when managers develop organized and streamlined decision-making processes. Otherwise, accepting input from everyone can make the process sluggish and disorganized. Laissez-Faire Management The laissez-faire manager functions almost more like a mentor than a manager. They empower their employees to step up and make decisions. This allows the team to feel like they own a part of each project. The manager takes a backseat role, stepping in to offer advice or get things back on track SM Baliwag Complex, Dona Remedios Trinidad Highway, Brgy. Pagala, Baliwag, Bulacan (+63) 927-533-0342 – (+63) 923-949-5265 [email protected] when something goes wrong. Otherwise, they stand aside, allowing their employees to flourish creatively and exercise their own leadership. ❖ Fundamental Management Skills 1. Technical Skills- are necessary to accomplish or understand the specific kind of work done in an organization. Technical skills are especially important for first-line managers. These managers spend much of their time training their subordinates and answering questions about work-related problems. 2. Interpersonal Skills- the ability to communicate with, understand, and motivate both individuals and groups. Managers spend considerable time interacting with people both inside and outside the organization. 3. Conceptual Skills- manager’s ability to think in the abstract. Managers need the mental capacity to understand the overall workings of the organization and its environment, to grasp how all the parts of the organization fit together, and to view the organization in a holistic manner. 4. Diagnostic Skills- the ability to visualize the most appropriate response to a situation. 5. Communication Skills- abilities to both effectively convey ideas and information to others and effectively convey ideas and information to others and effectively receive ideas and information from others. Communication skills help the manager to listen to what others say and understand the real meaning behind e-mails, letters, reports, and other written communication. 6. Decision-Making Skills- ability to correctly recognize and define problems and opportunities and to then select an appropriate course of action to solve problems and opportunities and to then select an appropriate course of action to solve problems and capitalize on opportunities. 7. Time Management Skills- ability to prioritize work, to work efficiently, and to delegate work appropriately. ❖ Management Levels and Skills Top-Level Managers- are senior executives of an organization and are responsible for its overall management. Top-level managers, often referred to as strategic managers, are supposed to focus on long-term issues and emphasize the survival, growth and overall effectiveness of the organization. Middle-Level Managers- are in the organization’s hierarchy below top-level management and above the frontline managers. Sometimes called tactical managers, they are responsible for translating the general goals and plans developed by strategic managers into more specific objectives and activities. Frontline Managers- also known as operational managers, lower-level managers who supervise the operations of the organization. These managers often have titles such as supervisor or sales manager. They are directly involved with nonmanagement employees, SM Baliwag Complex, Dona Remedios Trinidad Highway, Brgy. Pagala, Baliwag, Bulacan (+63) 927-533-0342 – (+63) 923-949-5265 [email protected]  implementing the specific plans developed with middle managers. This role is critical in the organization because operational managers are the link between management and nonmanagement personnel. Transformation Table of Management Roles and Activities Middle-Level Frontline Managers Top-Level Managers Managers From operational From administrative From resource implementers to Changing Roles controllers to allocators to aggressive supportive coaches institutional leaders entrepreneurs Creating and pursuing Developing individuals new growth Establishing high Key Activities and supporting their opportunities for the performance standards activities business Institutionalizing a set Linking disperesd Attracting and of norms and values to knowledge and skills developing resources support cooperation across units and trust Managing the tension Managing continuous Creating an between short-term improvement within overarching corporate purpose and long-term the unit purpose and ambition ambition ❖ The Organization’s Environments The external environment is everything outside an organization’s boundaries that might affect it. There are two separate external environments: the general environment and the task environment. An organization’s internal environment consists of conditions and forces within the organization. General Environment The set of broad dimensions and forces in an organization’s surroundings that determines its overall context. Economic Dimension- overall health and vitality of the economic system in which the organization operates. Economic factors that affects the business are economic growth, inflation, interest rates and unemployment. Technical Dimension- methods available for converting resources into products or services. Although technology is applied within the organization, the forms and availability of that technology come from the general environment. Political-Legal Dimension- government regulation of business and the relationship between business and government. This is important for three basic reasons: SM Baliwag Complex, Dona Remedios Trinidad Highway, Brgy. Pagala, Baliwag, Bulacan (+63) 927-533-0342 – (+63) 923-949-5265 [email protected]  1. The legal system partially defines what an organization can do and cannot do. 2. Pro- or anti-business sentiment in government influences business activity. 3. Political stability has ramifications for planning. Task Environment Specific organizations or groups that affect the organization. Competitors- organizations that competes with other organizations for resources. Customers- whoever pays money to acquire an organization’s products or services. Suppliers- organizations provides resources for other organizations. Regulators- a body that has the potential to control, legislate or otherwise influence the organization’s policies and practices. Strategic Partners- (also called as strategic ally) organizations working together with one or more other organizations in a joint venture of similar arrangement. Internal Environment The conditions and forces within an organization. Owners- whoever can claim property rights to an organization. Board of Directors- governing body that is elected by a corporation’s stockholders and charged with overseeing the general management of the firm to ensure that it is being run in a way that best serves the stockholders interests. Employees- persons who works for an organization in return for financial or other compensation. Physical Work Environment- facilities, safety and health regulations of an organization. ❖ Ethical and Social Environment of Management The ethical and social environment has become an especially important area for managers in the last few years. Ethics- an individual’s personal beliefs about whether a behavior, action or decision is right or wrong. Ethical Behavior- behavior that conforms generally accepted social norms. Unethical Behavior- behavior that does not conform to generally accepted social norms. Managerial Ethics- standards of behavior that guide individual managers in their work. Codes of Ethics- a formal, written statement of the values and ethical standards that guide a firm’s action. SM Baliwag Complex, Dona Remedios Trinidad Highway, Brgy. Pagala, Baliwag, Bulacan (+63) 927-533-0342 – (+63) 923-949-5265 [email protected]  Emerging Ethical Issues Ethical Leadership- managers must be fair and just, respectful of others, honest, committed to developing a sense of community and team spirit, and making decisions based on value. More importantly, they lead by example, are kind, encourage initiative, and do not tolerate ethical violations. Corporate Governance- the board of directors are expected to ensure that the business is being properly managed and that the decisions made by its senior management are in the best interests of shareholders and other stakeholders. Ethics and Information Technology- specific focal points in this area are individual rights to privacy and individual’s potential abuse of information technology. Social Responsibility in Organizations The set of obligations that an organization must protect and enhance the societal context in which it functions. Arguments for Social Responsibility 1. Business creates problems and should therefore help solve the problem. 2. Corporations are citizens in our society. 3. Business often has the resources necessary to solve the problems. 4. Business is a partner in our society, along with the government and the general population. Arguments Against Social Responsibility 1. The purpose of business is to generate profit for owners. 2. Involvement in social programs gives business too much power. 3. There is potential for conflicts of interest. 4. Business lacks the expertise to manage social programs IV. Activity Will be posted in MS Teams V. References McGraw-Hill. (2016). Organizational Behavior. McGraw-Hill Education Philippines: C & E Publishing, Inc., Inc., Manila BBC Universe Documentary. The Great Math Mystery. 2015, Bluman, A.G. (2017). Elementary statistics: a step by step approach (10th ed.). New York, NY: McGraw-Hill Education Anderson, D.R., Sweeny, D.J., Williams, T.A., et.al. (2018). Introduction to Management Science: Quantitative Approach. Cengage Learning. Brechner R., Bergeman G. (2017). Contemporary Mathematics for Business and Consumers (8th Ed.). Cengage. SM Baliwag Complex, Dona Remedios Trinidad Highway, Brgy. Pagala, Baliwag, Bulacan (+63) 927-533-0342 – (+63) 923-949-5265 [email protected] SM Baliwag Complex, Dona Remedios Trinidad Highway, Brgy. Pagala, Baliwag, Bulacan (+63) 927-533-0342 – (+63) 923-949-5265 [email protected]