Introduction To Management Study Guide PDF

Dhruv Chaudhari 09/04/2024 Managment - “Right Work, Done Well” What is Managment? Overall Purpose of management: ○ The goal is to Have the “Right Work, Done Well”. The What is identifying the “Right Work” and the How is getting the way to get the work “D...

Dhruv Chaudhari 09/04/2024 Managment - “Right Work, Done Well” What is Managment? Overall Purpose of management: ○ The goal is to Have the “Right Work, Done Well”. The What is identifying the “Right Work” and the How is getting the way to get the work “Done Well” Management is a “Practice”: ○ Used all sectors not only in Business Examples include managers in hospitals, at corporate run retail stores, etc. Identifying the Right “Right Work”: Includes: ○ Developing a vision, mission statements, goals, selecting strategies, and putting plans to execute strategies. ○ Profitability and growth are another key part to the right work. “Right Work” is focused mostly on what a manager must accomplish Managers Making Sure Work is “Done Well” “How” a manager gets the “Right Work” in an effective matter: ○ Basic elements- Assigning responsibilities to others like jobs, creating a structure, integrating and coordinating workflows, and creating a culture that gets the work done well. ○ Human Resources Manamgent Establishing practices for hiring, compensating, and motivating, employees Employee engagement, making a mutually beneficial partnership between employee and the company ○ “Performance of the organization or Performance Management: Using tools and practices that help in effectively running the organization Starts by realizing all work is a process ○ Leadership within Management: Need to work effectively with employees and other individuals. Resolve conflicts that may arise inside the business and outside the business “Applying” management theory to typical management situations is essential to learning about management. Management is just a “Practice” and is optimistic to think that one can learn how to manage by reading an instruction manual Limitation to Management Theory Management is not grounded in Scietific study ○ There is no extensive research and not absolute correlation between positive and negative outcomes from certain management techniques It is also inappropriate to constitute topics in this textbook as management “dogma” ○ One can not follow a set of principles to guarantee succeeding as a manager While there are limitations the methods do have years of research and observations ○ Various tensions between theories which have allowed management theories to evolve Final Thoughts The author suggests this book to be a first step to better understand role of managers and therefore it should be treated as an introduction to management. Additional Notes From Video Lecture Alex Gorsky interview ○ Alex Gorsky says that the desire to continue learning is important in this environment ○ Find Something you love to do or if you do not then keep an open mind and embrace things ○ Take care of yourself on the way through the career