Management - Jay
Terms
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- Business
- Managers are charged with the responsibility of creating value for shareholders.
- Example of "delicate nature of management"
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National Australian Bank
-CEO, Oct 1990-1999: Don Argus
- responsible for huge, profitable international growth
- Frank Cicutto tookover in 2000 and NAB fell apart, selling overseas assets, losing market share, downsizing, large drop in stock value - Managers
- getting things down through people and resources and providing direction and leadership
- Management is the...
- attainment of organizational goals in an effective and efficient manner through planning, organizing, leading and controlling organizational resources
- Four management functions
- planning, controlling, organizing, leading
- Planning
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defining goals for future organizational performance and deciding on the tasks and use of resources needed to attain them
Ex: company = Komatsu, manufacturer of construction equipment
location = Japan
"G 2000" plan for pushing the company into high-tech initiatives
- part of planning is close monitoring of costs - Organizing
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-involves the assignment of tasks, the grouping of tasks into departments and the allocation of resources to these departments
- organizing follows planning because it is the way in which the company tries to accomplish the plan
ex: company = Semco, makes industrial pumps
location = Brazil
- six people rotate as CEO, putting in 6 month stints
- employees set own work schedule and organize themselves - Leading
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the use of influence to motivate employees to achieve organizational goals
- creating shared culture and values
- communicating goals and values to employees
- infusing employees with a desire to perform at a high level
Ex: Charlie Bell rose from being a part time kitchen hand at Mc Donalds to CEO - Controlling
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monitoring employee activities, determining weather the organization is on target to meet its goals, and making corrections as necessary
Ex: company = Mars, Location = Australia: innovative open-face floor plan yet every employee clocks in and out as a measure of control - Mintzberg
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Information
Interpersonal
Decisional - Information (mintzberg)
- monitor (collecting info to stay in formed), disseminator and spokesperson (disseminating info)
- Interpersonal (mintzberg)
- figurehead (engaging in formal activities), leader, and liason (developping sources of information)
- Decisional
- entrepreneur (initiation of change), disturbance handler (works out disbutes), resource allocator, and negotiater (engages in formal negotiations)
- Effectiveness
- the degree to which an organization achieves a stated goal
- Efficiency
- the amount of resources used to achieve a certain goal
- Katz
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-Technical: the understanding of and proficiency in the performance of specific tasks
-Human: the ability to work with and through other people and to work effectively as a group member
-Conceptual: the cognitive ability to see the organization as a whole and the relationship among its parts - Organization
- a social entity that is goal directed and deliberately structured
- QCD
- quality, cost, delivery
- Performance
- the attainment of organizational goals by using resources in an efficient and effective manner
- Management skills (3 categories)
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conceptual
human
technical - Conceptual skills
- the ability to see the organization as a whole and the relationship among its parts
- Human skills
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the ability to work with and through other people and to work effectively as a group member
- motivate, communicate, lead, facilitate, coordinate, resolve conflict
- hiring the proper people
- promotes a healthy work environment
- using questionnaires to gauge staff happiness
- importance of communication - Technical skills
- understanding of and proficiency in the performance of specific tasks
- Top managers
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- at the top of the hierarchhy
- are responsible for the entire organization - Middle managers
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- responisble for implementing the strategies and policies defined by top managers
- head business units and major departments
- generally concerned with near future - First line managers
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- directly responsible for the production of goods and services
- application of rules and procedures to achieve efficient production - Project managers
- responsible for temporary work project that involves the participation of other people in the organization
- Functional manager
- responsible for departments that perform a single functional task and have employees with similar training and skills
- General manager
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- several departments that perform different functions
- self-contained division - Hierarchical skill differences
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- conceptual skills need MORE at the top
- technical skills need MORE at the first line
- human skills required at all levels - Hierarchical function differences
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- planning more important at the top
- organizing more important for top and middle
- leading more important for supervisors
- controlling is common to all levels - Old paradigm of management
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- focus on vertical organization
- markets: local, domestic
- workforce: homogenous
- technology: mechanical
- values: stability, efficiency
management competencies
- focus: profits
- leadership: autocratic
- doing work: by individuals
- relationships: conflict, competition - New paradigm of management
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- focus on learning organization
- markets: global
- workforce: diverse
- technology: electronic
- values: change, chaos
management competencies
- focus: customers, employees
- leadership: dispersed, empowering
- doing work: by teams
- relationships: collaboration