Fundamental of management. Lecture 1

Lecture 1
Managing in Turbulent Times

Why Innovative
Management Matters
• Innovation is the new imperative
• Organizations cannot survive long-term without
innovation
• Companies like Facebook are always investing in
new ideas
• Innovation should be a part of products,
processes, people, and values
Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 2

The Definition of Management
Management is the attainment of organizational
goals in an effective and efficient manner through
planning, organizing, leading, and controlling
organizational resources
 Managers get things done through the organization
 Create right systems and environment
 Organizations need good managers

1.1 What Do Managers Do?

1.2 The Process of Management

Organizational Performance
• An organization is a social entity that is goal
directed and deliberately structured
• Organizational effectiveness – providing a
product or service that customers value
• Organizational efficiency refers to the amount of
resources used to achieve an organizational goal

Management Skills
• Three categories of skills: conceptual, human,
technical
• The degree of the skills may vary but all
managers must possess the skills
• The application of management skills change as
managers move up the hierarchy

1.3 Relationship of
Skills to Management

When Skills Fail
• Missteps and unethical behavior have been in the
news
• During turbulent times, managers must apply their
skills
• Common management failures:
– Not listening to customers
– Misinterpreting signals from marketplace
– Not building teams
– Inability to execute strategies
– Failure to comprehend and adapt to change
– Poor communication and interpersonal skills

1.4 Top Causes of
Manager Failure

Management Types: Vertical
• Top managers are responsible for the entire
organization
• Middle managers are responsible for business
units
• First-line managers are responsible for
production of goods and services

Management Types: Horizontal
• Functional Managers are responsible for
departments that perform specific tasks
• General Managers are responsible for several
departments

1.5 Management Levels

Making The Leap: Becoming
A New Manager
• Organizations often promote star performers to
management
• Becoming a manager is a transformation
– Move from being a doer to a coordinator
• Many new managers expect more freedom to
make changes
• Successful managers build teams and networks
• Many make the transformation “trial by fire”

1.6 From Individual Performer to
Manager

Do You Really Want
to Be A Manager?
 The increased workload
 The challenge of supervising former peers
 The headache of responsibility for other people
 Being caught in the middle

Manager Activities
Adventures in multitasking
– Activity characterized by variety, fragmentation, and
brevity
– Less than nine minutes on most activities
– Managers shift gears quickly
Life on speed dial
– Work at unrelenting pace
– Interrupted by disturbances
– Always working (catching up)

Ten Manager Roles
Informational
 Monitor
 Disseminator
 Spokesperson
Interpersonal
 Figurehead
 Leader
 Liaison
Decisional
 Entrepreneur
 Disturbance
Handler
 Resource
Allocator
 Negotiator

Manager Roles
• Manager roles are important to
understand but they are not discrete
activities
• Management can’t be practiced as
independent parts
• Managers need time to plan and think

1.8 Hierarchical Levels and
Importance of Roles

Managing in Small Business and
Nonprofit Organizations
Small businesses are growing
– Inadequate management skills is a threat
– The roles for small business managers differ
– Entrepreneurs must promote the business
Nonprofits need management talent
– Apply the four functions of management to make social
impact
– More focus on costs
– Need to measure intangibles like “improving public
health”

Innovative Management for
the New Workplace
• Rapid environmental shifts:
– Technology
– Globalization
– Shifting social values
• In the new workplace, work is
free-flowing and flexible

1.9 Transition to a
New Workplace

New Management Competencies
• Collaboration across functions, levels, customers,
and companies
• Experimentation and learning are key values
• Knowledge and information sharing
More challenges and changes are on the horizon!
This is an exciting time in management.

Fundamental of management. Lecture 1

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