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Fundamental of management. Lecture 1

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Fundamental of management. Lecture 1

  1. 1. Lecture 1 Managing in Turbulent Times
  2. 2. 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
  3. 3. 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 Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 3
  4. 4. 1.1 What Do Managers Do? Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 4
  5. 5. 1.2 The Process of Management Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 5
  6. 6. 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 Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 6
  7. 7. 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 Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 7
  8. 8. 1.3 Relationship of Skills to Management Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 8
  9. 9. 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 Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 9
  10. 10. 1.4 Top Causes of Manager Failure Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 10
  11. 11. 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 Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 11
  12. 12. Management Types: Horizontal • Functional Managers are responsible for departments that perform specific tasks • General Managers are responsible for several departments Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 12
  13. 13. 1.5 Management Levels Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 13
  14. 14. 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” Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 14
  15. 15. 1.6 From Individual Performer to Manager Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 15
  16. 16. 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 Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 16
  17. 17. 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) Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 17
  18. 18. Ten Manager Roles Informational  Monitor  Disseminator  Spokesperson Interpersonal  Figurehead  Leader  Liaison Decisional  Entrepreneur  Disturbance Handler  Resource Allocator  Negotiator Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 18
  19. 19. 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 Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 19
  20. 20. 1.8 Hierarchical Levels and Importance of Roles Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 20
  21. 21. 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” Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 21
  22. 22. Innovative Management for the New Workplace • Rapid environmental shifts: – Technology – Globalization – Shifting social values • In the new workplace, work is free-flowing and flexible Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 22
  23. 23. 1.9 Transition to a New Workplace Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 23
  24. 24. 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. Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 24

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