Management
the art of getting things done through people
organization
a group of people who work together to achieve some purpose
Management
The pursuit of organizational goals efficiently and effectively; by integrating the work of people through planning, organizing, leading, and controlling the organization's resources
Efficiency
the means of attaining the organization's goals, using resources wisely and cost effectively
Effectiveness
the ends- to achieve results, make right decisions, and successfully carry them out to achieve the organization's goals
Multiplier effect
your influence as a manager on the organization is multiplied far beyond results of one person acting alone
Rewards of STUDYING management
1. Understand how to deal with organizations from the outside
2. How to relate to your supervisors
3. how to interact with coworkers
4. Learn how to manage yourself in the workplace
Rewards of BEING a manager
1. You and employees have a sense of accomplishment
2. Can stretch your abilities and magnify your range
3. Build a catalogue of successful products and services
Managing for Competitive Advantage
staying ahead of rivals in areas of being responsive to customers, innovation, quality, and efficiency
Competitive advantage
the ability of an organization to produce goods or services for effectively than competitors
innovation
finding ways to deliver new/better goods or services
Seven Challenges to being an exceptional manager
1. Managing for competitive advantage
2. Managing for diversity
3. Managing for globalization
4. Managing for information technology
5. Managing for Ethical standards
6. Managing for sustainability
7. Managing for your own happiness and life goals
Internet
the global network of independently operating but interconnected computers, linking smaller networks globally
E-commerce
electronic commerce: buying and selling over internet
Project management software
programs for planning and scheduling the people, costs and resources to complete a project on time
Databases
computerized collections of interrelated files
telecommute
work from home, meetings via video conferencing
Collaborative computing
using computer software or hardware so people can work better together
Knowledge management
the implementing of systems and practices to increase sharing of knowledge and information throughout an organization
Sustainability
economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs
Four principles of management
Planning, organizing, leading, controlling
Planning
setting goals and deciding how to achieve them
organizing
arranging tasks, people, and other resources to accomplish the work
Leading
motivating, directing, and influencing people to work hard to accomplish the organization's goals
Controlling
monitoring performance, comparing it with goals and taking corrective action if needed
Top managers
people who make long term decisions about the overall direction of the organization and establish the objectives, policies and strategies for it
What top managers are
Future oriented and able to deal with uncertain, highly competitive conditions
Middle managers
implement the policies and plans of top managers and supervise and coordinate activities of first line managers below them
First-line managers
aka supervisors, make short-term operating decisions and direct tasks of non-managerial personnel
Functional managers
responsible for just one organizational activity
General managers
responsible for several organizational activity
For-profit
an organization is _____ if they make $$
Non-profit
don't make money, offer services, managers are called administrators
Commonweal organization
offers servies to all clients, not just some. Examples would be the military, post office, police
Mutual benefit organization
organization that aids members
Henry Mintzberg
Found that:
1. A manager relies more on verbal than written communication
2. a manager works long hours at an intense pace
3. A manager's work is characterized by fragmentation, brevity, and variety
Three types of managerial roles
Interpersonal, Informational, and Decisional
Interpersonal roles
managers interact with people inside and outside their work units, roles incluse figurehead, leader, and liason
Informational roles
A monitor, disseminator, and spokesperson; managers receive and communicate information with others
Decisional roles
use information to make decisions or take opportunities; these roles are entrepreneur, disturbance handler, resource allocator, and negotiator
Entrepreneurship
taking risks to try to create a new enterprise
Entrepreneur
someone who sees a new opportunity for a product or service and launches a business to try to realize it
Intrapreneur
someone who works inside an existing organization who sees an opportunity for a product or service and mobilizes the organization's resources to try to realize it
Robert Katz
found through education and experience managers acquire technical, conceptual, and human skills
Technical skills
the job-specific knowledge needed to perform well in a specialized field
Conceptual skills
the ability to think analytically, to visualize an organization as a whole and understand how the parts work together, particularly important for top managers
Human skills
the ability to work well in cooperation with other people to get things done, also called "soft skills