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Chapter 1 Notes

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by: Katie Gallagher

Chapter 1 Notes 3013

Katie Gallagher
OK State
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About this Document

These notes cover Chapter 1 in Fundamentals of Management and the basic things you need to know.
Fundamentals of Management Information Systems
Ryan Greenbaum
Class Notes




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1 review
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"Clutch. So clutch. Thank you sooo much Katie!!! Thanks so much for your help! Needed it bad lol"
Rasheed Lebsack

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Popular in Business, management

This 7 page Class Notes was uploaded by Katie Gallagher on Thursday January 14, 2016. The Class Notes belongs to 3013 at Oklahoma State University taught by Ryan Greenbaum in Spring 2016. Since its upload, it has received 13 views. For similar materials see Fundamentals of Management Information Systems in Business, management at Oklahoma State University.

Similar to 3013 at OK State

Popular in Business, management


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Star Star Star Star Star

Clutch. So clutch. Thank you sooo much Katie!!! Thanks so much for your help! Needed it bad lol

-Rasheed Lebsack


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Date Created: 01/14/16
The Art of Management 01/14/2016  Managers operate within an organization o Organization  A group of people who work together to achieve some specific purpose  Management is defined as o The pursuit of organizational goals efficiently and effectively o Integrating the work of people o Planning, organizing, leading and controlling (4 Functions of Management) ▯ ▯ THE MANAGEMENT PROCESS  Planning o You set goals and decide how to achieve them  Organizing o You arrange tasks, people and other resources to accomplish the work  Leading o You motivate, direct, and otherwise influence people to work hard to achieve the organization’s goals  Controlling o You monitor performance, compare it with goals, and take corrective action as needed ▯ ▯ MANAGEMENT: WHAT IT IS, WHAT IT’s BENEFITS ARE  To be efficient mean to use resources- o People, money, raw materials, and the like- wisely and cost- effectively  * doesn’t always mean faster  better  to be effective means to achieve results, to make the right decisions and to successfully carry them out so that they achieve organizational goals REWARDS FOR STUDYING MANAGEMENT  you will understand how to deal with organizations from the outside  you will understand how to relate to your supervisors  you will understand how to interact with co-workers  you will understand how to manage yourself in the workplace  you and your employees can experience a sense of accomplishment  you can stretch your abilities and magnify your range  you can build a catalog of successful products or services  you can become a mentor and help others ▯ ▯ SEVEN CHALLENGES TO BEING A STAR MANAGER  1. Managing for competitive advantage- staying ahead of rivals o Competitive advantage  The ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them  Being responsive to customers  Innovation  Quality  Efficiency  2. Managing for Diversity- the future won’t resemble the past o change happens  3. Managing for Globalization- the expanding management universe  4. Managing for Information Technology o by 2017, consumers worldwide are projected to spend $2.3 trillion online, a rise of 14.8% over the year before o information technology has led to the growth of e-business, using the internet to facilitate every aspect of running a business o Implications of IT  Far-ranging electronic management: e-communication all the time  More and more data: challenges to decision making  The rise of artificial intelligence: more automation in the workforce  Organizational changes: shifts in structure, jobs, goals, and knowledge management  5. Managing for ethical standards o don’t cheat the system, you will get caught  6. Managing for sustainability- the business of green o sustainability- economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs o Managing for your own happiness & life goals  Management isn’t for everyone  Long meetings  Long hours  Diminished home life o Levels of Management FOUR LEVELS OF MANAGEMENT  Top managers o Make long-term decisions about the overall direction of the organization and establish the objectives, policies, and strategies for it  CEO, COO, Senior VP  Middle Managers o Implement he policies and plans of the top managers above them and supervise and coordinate the activities of the first- line managers below them  Plant managers, regional manager o “high touch” jobs  dealing with people rather than computer screens or voice-response systems  affect a lot of people “first hand”  First- Line Managers o Make short-term operating decisions, directing the daily tasks and non-managerial personnel  Foreman, supervisor o Team leader  A manager who is responsible for facilitating team activities toward achieving key results  May or may not have authority  Functional VS. General  Functional o Responsible for just one organizational activity  VP of Marketing  General o Responsible for several organizational activities o Oversees multiple areas or organization MANGERS FOR THREE TYPES OF ORGANIZATIONS  For-profit organization: for making money  Non-profit organizations: for offering services  Mutual-benefit organization: for aiding members ▯ ▯ THE SKILLS EXCEPTIONAL MANAGERS NEED  Technical Skills o The job- specific knowledge needed to perform well in a specialized field  Important in the first-line management positions  Conceptual Skills o The ability to think analytically, to visualize an organization as a whole and understand how the parts work together  These skills are key to being successful in top level positions  Human Skills o The ability to work well in cooperation with other people to get things done  Soft Skills o The ability to motivate, to inspire trust, to communicate with others ▯ ▯ THE MOST VALUED TRAITS IN MANAGERS  The ability to motivate and engage others  The ability to communicate  Work experience out the USA  High energy levels to meet the demands of global travel and a 24/7 world ROLES MANAGERS MUST PLAY SUCCESSFULLY The Managers Roles: Mintzberg’s Useful Finding o A manager relies more on verbal than on written communication o A manager works long hours at an intense pace  May work through lunch, no breaks o A mangers work is characterized by fragmentation, brevity and variety  “The Interruption-Driven Day” ▯ ▯ THREE TYPES OF MANAGERIAL ROLES  Interpersonal Roles o Managers interact with people inside and outside their work units o Figurehead, leader, liaison  Informational Roles o Managers receive and communicate information o Monitor, disseminator, spokesperson  Decisional Roles o Managers use information to make decision to solve problems or take advantage of opportunities o Entrepreneur, disturbance handler, resource allocator, negotiator  Creativity is a major factor for this role ▯ ▯ ENTREPRENEURSHIP  Process of taking risks to try and create a new empire  Someone who sees a new opportunity for a product or service and launches a business to try and realize it Intrapreneur o Someone who works inside an existing organization who sees and opportunity for a product or service and mobilizes the organizations resources to try and realize it ▯ Entrepreneur vs. Manager  Being an entrepreneur is what it takes to start a business  Being a manager is what it takes to grow or maintain a business ▯ ▯


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