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MGT 301 January 19th (Day 1)

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by: Hannah Leggett

MGT 301 January 19th (Day 1) MGT 301

Marketplace > University of Kentucky > Economcs > MGT 301 > MGT 301 January 19th Day 1
Hannah Leggett
GPA 3.56

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About this Document

These were the notes covered on the first day of class.
Business Management
Gordon Holbein
Class Notes
Business Management. Holbein. UK.
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"Killer notes! I'm stoked I can finally just pay attention in class!!!"
Jessie Mohr

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This 4 page Class Notes was uploaded by Hannah Leggett on Thursday January 28, 2016. The Class Notes belongs to MGT 301 at University of Kentucky taught by Gordon Holbein in Spring 2016. Since its upload, it has received 272 views. For similar materials see Business Management in Economcs at University of Kentucky.


Reviews for MGT 301 January 19th (Day 1)

Star Star Star Star Star

Killer notes! I'm stoked I can finally just pay attention in class!!!

-Jessie Mohr


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Date Created: 01/28/16
MGT 301-January 19 th 2016 (Day 1) I. Five benefits of reading news on a daily basis 1. The world opens up to you. 2. You understand the complexity of business 3. You understand where you stand 4. You understand your own belief system 5. You become a more well rounded human being, and that is exactly what the world needs. II. The Holbein Model 1. School is about getting a job only to the degree that life is about work. 2. Education needs to be more that, “what can get me a job?”. III. Top Skill Employers are Looking For.. 1. Communication Skills i. Interpersonal Relationship Skills (teamwork, etc.) ii. Written Communication Skills (ability to write) 2. Teamwork 3. Ethics 4. Knowledge of the Real World 5. Analytic Skills IV. Four Fundamental Truths about Leadership 1. Iron Clad Law of Leadership i. Before I can even expect to lead others, I must first learn to manage myself. 2. Holbein/Maxwell Premise i. Leadership ability grows from within. 3. Founding Principle of Leadership Development i. When I become the kind of human being I ought to be on the inside, then I may become the kind of leader I want to be on the outside. 4. Fundamental Questions of Leadership i. Am I becoming the human being that others want to follow? V. Six Major Challenges Facing Managers Today 1. Increasing efficiency due to globalization and international competition. 2. Increasing our effectiveness by improving the quality of our work. 3. Become more flexible/innovative in serving customers needs. 4. Properly utilizing information technology, 5. Maintaining high ethical standards. 6. Leverage the power of diversity. VI. Leadership and Management are Different 1. Leadership is more of an art, management is more of science 2. Management: i. Is the science of planning, organizing and controlling. ii. It is messy, complex, dynamic, and ambiguous. 3. Six Characteristics of Leadership: i. Intentionally: A leader has a plan, vision, mission, purpose, and plan. ii. Influencing: command and ethical iii. Followers: Everyone who works for you is a volunteer. iv. Toward Change: : If things aren’t changing then you aren’t really leading. v. Through shared purpose: vi. Personal responsibility: Begins from within. 4. Two Great Forces that Lead to Success i. Efficiency: {MAX (Output) /MIN (Input)} IF we are being efficient we are maximizing something and minimizing something. ii. Effectiveness: It is different from efficiency. And it is attaining appropriate goals. VII. Important Definitions 1. Resource: anything that can be used to generate a return. Can be physical. Can be non-physical (ex: time, information, relationships). 2. Paradox: co-existence of seeming opposites. i. Global, local ii. Long-term, short-term VIII. Boss: 1. Supervisor (base level): works on short-term tasks within a particular function of the business. 2. Manager (mid level): Pass information upward. And they translate downward long-term strategies into short-term actions. 3. Executive (highest): works on long-term strategies within an entire organization. IX. In general, there are 10 roles that a manager expects from an employee 1. Decision Making Roles: i. Entrepreneurial (intra-preneurial: acts like an entrepreneurial inside a company) ii. Disturbance Handler iii. Resource Allocator iv. Negotiator 2. Informational/Information Processing) Roles: i. Information Monitor ii. Disseminator iii. Spokesperson 3. Interpersonal Roles i. Figure Head (Ex: Queen of England—she represents Britain) ii. Liaison iii. Leader


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