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Introduction to Business, Management and Economics

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Workshop 01
Mini-MBA 4
iGive (3attai)

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Introduction to Business, Management and Economics

  1. 1. Management BY MUHAMAD SHABAREK Damascus, 1 March 2014
  2. 2. WHO’S IN THE ROOM? 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 2
  3. 3. What is Business? Definitions of Business Business has three dimensions of a meaning ◦ A commerce ◦ An occupation ◦ An organization 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 3
  4. 4. Definitions: “Business as a commerce is the process that people produce, exchange and trade goods and services” “Business as an occupation is the acquired set of specialized skills and abilities that allows people to create valuable goods and services” “Business as an organization is the system of task and authority relationship that coordinates and controls the interactions between people so that they work toward a common goal” “Business as a system is a combination of business commerce, occupations, and organizations that produces and distributes the goods and services that create value for people in a society” 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 4
  5. 5. Factors of Production Regardless of meaning there are four crucial ingredients or productive factors or resources of: 1. Land 2. Labor 3. Capital 4. Enterprise that are needed to profit from business and are limited in supply (scarcity) A company must use them efficiently and effectively to produce goods and services These resources allow for the creation of a product and/or service that customers value a price 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 5
  6. 6. Efficiency and Effectiveness Doing things right 1/3/2014 Doing the right things IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 6
  7. 7. Definition of Economics “Use of scarce resources to produce goods/services, distribute them among competing groups/individuals“ Two types of economics: Micro- and Macro- 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 7
  8. 8. Three Economic Systems Mixed Socialism (Highly Controlled) Communism 1/3/2014 (Little Control) Capitalism IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 8
  9. 9. Capitalism Private Property Profit/Ownership Freedom of Competition Freedom of Choice 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 9
  10. 10. Communism Public Ownership ◦ Productive Capacity ◦ Capital Central Planning/Controlled Economy Managers = Mandatory Party Membership 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 10
  11. 11. Socialism Private & Public Ownership Some Choices are Limited Creates Social Equality & Equality of Results Reduces Individual Incentive 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 11
  12. 12. Mixed Economies Free-Market Economy = Capitalism Command Economy ◦ Socialism ◦ Communism Trend Results in Blend ◦ Capitalism > Socialism ◦ Socialism > Capitalism 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 12
  13. 13. Supply and Demand All business activity is self-interested and competitive, and this competition may benefit people and society when it leads resources to be employed in their most profitable use The forces of supply and demand determine a product’s market price In turn, supply and demand are the result of peoples’ subjective judgment of the value or utility they will receive from supplying or consuming a particular product 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 13
  14. 14. Law of Demand Reflects the usefulness or utility from that product Given the price of a product or service, we generally demand less quantity of it as the price increases and demand more of it as the prices decreases Law of Supply Sellers are more willing to supply a product as the price increases and less willing to supply as the price decreases 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 14
  15. 15. 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 15
  16. 16. Degrees of Competition Monopolistic Oligopoly Competition One Many Sellers Monopoly 1/3/2014 Pure Competition IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 16
  17. 17. Monopoly = One Seller Diamonds Utilities 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 17
  18. 18. Oligopoly = Few Sellers Tobacco Automobiles 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 18
  19. 19. Monopolistic Competition Many Sellers With Perceived Differences Fast Food ◦ Colleges ◦ 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 19
  20. 20. Pure Competition Sellers Buyer 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 20
  21. 21. Limitations of Free-Market Inequality of Wealth- Causes National & World Tension Potential Environmental Damage Limitations Push Country towards Socialism = Government Regulation 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 21
  22. 22. Government’s Role in Economics Enforces Rules/Regulations Provides Public Goods Transfers Payments Fosters Competition Contributes to Economic Stability 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 22
  23. 23. Industrialized (Nations Tax Rate) U.S. Austria/Japan Italy Canada Germany Spain/Sweden France Finland Denmark 0% 10% 20% 30% 40% 50% 60% 70% Source: Parade Magazine, Apr. 12, 1998. 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 23
  24. 24. Where Does the Government Get Its Money 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 24
  25. 25. 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 25
  26. 26. Key Economic Indicators Gross Domestic Product (GDP) Unemployment Rate Price Indexes ◦ Consumer Price Index(CPI) ◦ Producer Price Index(PPI) 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 26
  27. 27. What Makes Up the Consumer Price Index Recreation Apparel 5% 6% Other 5% Medical Care/ Insurance 7% Medical Care 6% Housing & Util. 39% Food & Beverage 16% Transportation 18% 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 27
  28. 28. Economic Scenarios Inflation vs. Deflation = #Dollars Chasing Amount of Goods/Services Recession & Depression = Degrees of Severity Federal Reserve Attempts to Control 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 28
  29. 29. Government Economic Tools Monetary Policy- management of money supply Fiscal Policy- management of taxes and government expenditures National Debt 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 29
  30. 30. Why Trade With Other Nations? Reasons No nation can produce all its needs Mutually beneficial exchange Natural Resources or Technology- Produce or Buy? Free Trade Theories of Advantage 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 30
  31. 31. Theories of Advantage Absolute = Virtual Monopoly South Africa Output per Unit of Input The Rest of the World Diamond Production 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 31
  32. 32. Theories of Advantage Comparative U. S. China China U. S. Output per Unit of Input Software 1/3/2014 Clothing IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 32
  33. 33. Specialize & Trade Software Clothing 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 33
  34. 34. Import Goods- Money Goes Out of Country Export Goods- Money Comes Into the Country 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 34
  35. 35. Trade Deficits/Surpluses- Balance of Trade(1999) U. S. Exports to Japan Food/Beverages  Raw Materials  Chemicals & Pharmaceuticals  $58.6 Billion 1/3/2014 Japan Exports to U.S. Computers & Telecommunications  Cars/Trucks  Consumer Products  Semi-Finished Goods  $113.9 B IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 35
  36. 36. 1999 Balance of Trade $58.6 B Goods To Japan $113.9 B Goods From Japan Yen to U.S. $55.3 B Dollars to Japan U.S. Balance of Payments = Unfavorable 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 36
  37. 37. Modes of Entry into the Global Markets 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 37
  38. 38. Forces Affecting Trading in Global Markets Sociocultural Economic/Currency Shifts Legal/Regulatory Physical/Environmental Protectionism Global E-Commerce 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 38
  39. 39. Protectionism Mercantilism Tariffs ◦ Protective ◦ Revenue Import Quota & Embargo 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 39
  40. 40. Trade Agreements/Unions General Agreement on Tariffs and Trade (GATT)- WTO Common Markets/European Union North American Free Trade Agreement (NAFTA) 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 40
  41. 41. Exchange Rates- U. S. Dollars to Other Currencies $ Goes Down- Increases Demand for U. S. Products ◦ Balance of Trade Improves 1/3/2014 $ Goes Up- Decreases Demand for U. S. Products ◦ Balance of Trade Widens IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 41
  42. 42. Basic Forms of Ownership Sole Proprietorship Partnership Corporation 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 42
  43. 43. Sole Proprietorship Advantages Disadvantages Ease of start/end Unlimited liability Be your own boss Limited financial resources Difficulty in mgmt. Pride of ownership Retain profit No special taxes 1/3/2014 Time commitment Few fringe benefits Limited growth Limited life span IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 43
  44. 44. Partnership Advantages More financial resources Shared mgmt. Longer survival Disadvantages Unlimited liability Division of profits Disagreements among partners Difficult to terminate 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 44
  45. 45. Types of Partnerships General Limited GP GP GP Passive Investor Passive GP Investor GP Passive Investor 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 45
  46. 46. Uniform Partnership Act Common Ownership Shared Profits & Losses Management Participation 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 46
  47. 47. Types of Corporations Regular ‘C’ Subchapter ‘S’ Limited Liability Corporation 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 47
  48. 48. Corporation Advantages Disadvantages More money for investment Limited liability Separation of ownership/mgmt. Ease of ownership change Perpetual life Size 1/3/2014 Initial cost Paperwork Two tax returns Termination difficult Double taxation IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 48
  49. 49. S Corporations SNo more than 75 shareholders S<25% of income can be passive SShareholders STax rate = +5% S Individuals S Estates SU.S. citizens or residents S1 class of stock 1/3/2014 SSlower-growing companies SBenefits change with new tax rules IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 49
  50. 50. How Owners Affect Management 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 50
  51. 51. External Corporate Growth Merger/Acquisition ◦Horizontal ◦Vertical ◦Conglomerate Leveraged Buyout (LBO) 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 51
  52. 52. Types of Mergers/Acquisitions A Horizontal B = AB Conglomerate Vertical 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 52
  53. 53. Leveraged Buyout Individual + Loan = Purchase of Company Purchase Loan Company = Collateral 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 53
  54. 54. Franchises Advantages +Management & marketing ass’t -High start-up costs -Shared Profit +Personal ownership +Recognized name +Financial advice & ass’t +Lower failure rate 1/3/2014 Disadvantages -Management regulation -Coattail effects -Restrictions on selling -Fraudulent franchisors IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 54
  55. 55. New Management Approaches- Why? Global Competition Technological Change Customer Expectations Better Educated Employees Manager No Longer Just Boss 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 55
  56. 56. Required Management Skills Technical Skills Human Relations Skills Conceptual Skills 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 56
  57. 57. Process Of Management Management Planning Employees Financial Products Feedback Resources Organizing Leading Achievement of Goals & Objectives Location Information 1/3/2014 Controlling IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 57
  58. 58. Management Functions 1. Planning - Strategic Tactical Operational Contingency 2. 3. Leading 4. 1/3/2014 Organizing Controlling IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 58
  59. 59. Planning: Create Vision Set Vision, Goals, Objectives Goals- Broad, LongTerm Aims Vision/MissionWhy Organization Exists, Purpose of Organization Objectives- Specific, Short-Term Statements 1/3/2014 Continuous Process IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 59
  60. 60. Questions of Planning 1) What is the situation now? 2) Where do we want to go? 3) How can we get there from here? 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 60
  61. 61. Planning Functions 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 61
  62. 62. Decision Making: Process A. Define B. Describe C. Develop E. Develop D. Decide F. Do 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK G. Determine 62
  63. 63. Sources of Management Information Outside Sources Inside Sources Customers & Suppliers Subordinates & Teams Financial Institutions Superiors Other Managers Publications, Conferences Manager Academics & Consultants 1/3/2014 Meetings & Seminars Mgmt. Info. Sys. Grapevine IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 63
  64. 64. Organizing oSelf-Managed Teams oStakeholders oStaffing oDiversity 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 64
  65. 65. Management Pyramid CEO, Top Comptroller, Vice Pres. Sales Mgrs Plant Mgrs. Mid-Level Front Line/Supervisory 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK Supervisors Foremen 65
  66. 66. Management Planning Levels & Time Spans Time Top Mgmt. 1/3/2014 Middle Mgmt. 2 Years + Lower Level Mgmt. 1 Year, Quarter IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK Days, Weeks 66
  67. 67. Three Types of Roles • Interpersonal roles – Figurehead, leader, liaison • Informational roles – Monitor, disseminator, spokesperson • Decisional roles – Entrepreneur, disturbance handler, resource allocator, negotiator 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 67
  68. 68. Successful Leadership Vision Communicate Corporate Values & Ethics Don’t Fear Change 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 68
  69. 69. Leadership Styles Autocratic Democratic Laissez-Faire Situational Empowerment Knowledge 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 69
  70. 70. Autocratic: Close Supervision 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 70
  71. 71. Democratic: Participative 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 71
  72. 72. Laissez-Faire: Free Rein Leader 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 72
  73. 73. Manager’s Empowerment Checklist  Do employees understand your plans and goals?  Are employees encouraged to utilize these plans and goals as a basis for day-to-day work?  Does information to employees come soon enough for them to make intelligent decisions about their work?  Are communication & cooperation encouraged? Can questions be asked freely and are individual initiative & creativity encouraged? 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 73
  74. 74. Controlling Set Standards ◦ ◦ ◦ ◦ Specific Attainable Measurable Procedures for Monitoring Compare Plan & Standards to Results Communicate to Employees Corrective Action??? Monitor/Record 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 74
  75. 75. Management Activities Leading Motivating Decision Making Managing Information & Time 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 75
  76. 76. Management Challenges of the Future Finding/Training New Employees Growing Global Competition Finding/Serving New Customers Financing Long-Term Growth Dealing with Increased Regulation 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 76
  77. 77. Purpose of an Organizational Chart Show the activities of the organization Highlight subdivisions of the organization Identify different types of work performed 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK Provide information about different management levels Show the lines of authority in the organization and the flow of organizational communications 77
  78. 78. Organizational Design CE O Division V .P. Departm ent A G roup 1 S ubordinate I 1/3/2014 Division V .P. Departm ent B G roup 2 Organization Division Department Group Individual S ubordinate II IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 78
  79. 79. Organizational Structures Tall Organizations -Many Layers of Mgmt. -Cost of Mgmt.=High 1/3/2014 Flat Organizations -Current Trend -Creation of Teams IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 79
  80. 80. Span of Control Capabilities of Subordinates & Manager Complexity of Job Bs os S b r in t u od ae 1/3/2014 S b r in t u od ae S b r in t u od ae ◦ ◦ ◦ ◦ ◦ Geographically Close Functional Similarity Need for Coordination Planning Demands Functional Complexity IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 80
  81. 81. Departmentalization College President Business Education Comm., Humanities, Social Sciences Developmental Studies Math, Sciences, Health Sciences Advantages ◦ Skill Development ◦ Economies of Scale ◦ Good Coordination Disadvantages ◦ Lack of Communication ◦ Employees Identify with Department ◦ Slow Response to External Demands ◦ Narrow Specialists Technical, Industrial Service Occupations 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 81
  82. 82. Centralization (No Delegation) Disadvantages Advantages ◦Increased Uniformity ◦Less Duplication ◦Maximum Control 1/3/2014 ◦ Lots of Policies & Procedures ◦ Many Layers/Slower IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 82
  83. 83. Decentralization (Delegate Authority) Advantages ◦ Informed Decisions ◦ Worker Responsibility ◦ Few Layers/Faster 1/3/2014 Disadvantages ◦ Loss of Control ◦ Possible Duplication IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 83
  84. 84. Line Organizations Advantages ◦ Clear Authority & Responsibility ◦ Easy to Understand ◦ One Supervisor per Employee 1/3/2014 Disadvantages ◦ ◦ ◦ ◦ Inflexible Few Specialists for Advice Long Line of Communication Difficult to Handle Complex Decisions IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 84
  85. 85. Layers of Authority Top Managers- Decision Makers Middle Managers- Developed Rules & Procedures Workers and Supervisors 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 85
  86. 86. Line/Staff Organizations Line Personnel Staff Personnel ◦Perform Functions ◦Advise ◦Contribute Directly to Organizational Goals ◦Assist Line Personnel 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 86
  87. 87. Matrix Organizations Advantages ◦ ◦ ◦ ◦ Flexibility Cooperation & Teamwork Creativity More Efficient Use of Resources 1/3/2014 Disadvantages ◦ Costly/Complex ◦ Confusion in Loyalty ◦ Requires Good Interpersonal Skills & Cooperation ◦ Not Permanent IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 87
  88. 88. Inverted Organization Structure Empowered frontline workers Support Personnel Top Mgmt. 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 88
  89. 89. Outsourcing BENEFITS DOWNSIDE Time to focus on company’s primary function Less personal approach Increased level of expertise Less control by owner in planning, implementing & carrying out company’s future Cost effectiveness Decreased overhead Potential for competing for the outsourcing firm’s time Risk reduction Flexibility Technology 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 89
  90. 90. Intrinsic vs. Extrinsic Rewards Extrinsic = Outside Recognition Intrinsic = Inside Feeling of Job Well Done Promotions Gifts 1/3/2014 Pride Sense of Achievement IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK Praise Salary Increase Status 90
  91. 91. Personal Qualities Related to Job Motivation 1. Ability 2. Personal Needs 3. Frustration Tolerance 4. Self-Esteem 5. Outside Supports 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 91
  92. 92. Maslow’s Hierarchy of Needs Unsatisfied SelfActualization Esteem Needs Social Needs Safety Needs Satisfied Physiological Needs 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 92
  93. 93. McGregor’s Theories Theory X- Autocratic • • • • • Dislike Work Avoid Responsibility Little Ambition Forced/Controlled/ Directed/Threatened Motivated by Fear & Money 1/3/2014 Theory Y- Democratic • • • • • Like Work Naturally Works Toward Goals Seeks Responsibility Imaginative, Creative, Clever Motivated by Empowerment IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 93
  94. 94. Ouchi’s Theory Z Long-Term Employment Collective Decision-making Individual Responsibility Slow Evaluation/ Promotion Specialized Career Path Holistic Concern for Employees 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 94
  95. 95. Herzberg’s Two-Factor Concept Job-Related Achievement Recognition Work Itself Job Environment •Working Conditions •Salary •Policy/Admin. •Supervision Growth/Advancement Responsibility Peer Relationships 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 95
  96. 96. Goal-Setting Theory (MBO) Goal-Setting Theory Management By Objectives (1960s) •Employees Motivate Themselves •Help •Coach 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 96
  97. 97. Thank you!.. Follow us on facebook.com/3atta2i 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 97

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