Management 301 Notes Feb 1-Feb 5th
Management 301 Notes Feb 1-Feb 5th MGMT 301
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This 5 page Class Notes was uploaded by Christopher Raite on Friday February 5, 2016. The Class Notes belongs to MGMT 301 at Pennsylvania State University taught by Ronald Johnson in Winter 2016. Since its upload, it has received 42 views.
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Date Created: 02/05/16
CONTINUED NOTES: February 1 -5 st th ** All topics covered were stressed by Professor Johnson to write down and study** ******THIS IS NOT THE NOTEPACKET****** 27) Douglas McGregor: Responsible for Theory X and Y, believed no one type of management was worse than the other, best to be interactive and directive Theory X and Y: Perspective of managers, they are a reflection of how managers believe work should be done. Theory X: Directive, Assembly Line Companies Theory Y: Interactive, Google Theory X MGMT Theory Y MGMT Dislike work Willing to work Lack ambition Capable/ creative Follow not lead Self controlled Resist change Self directed Irresponsible Responsible 28) Queuing Theory: Making people wait on a line must control perfectly to maximize opportunity 29) Modern Management: Uses business analytics (massive data collection) to make businesses work better 30) Inputs: People Money Materials Technology Information 31) ZARA: Revolutionary fashion company Very short design cycle Constantly changing the product (2 weeks) Low price No advertisement Locally targeted products (concerts) Use Operation Management 32) Contingency Thinking: What do we believe is most likely Best case Worst 33)**ON EXAM** Six Sigma: Tools and methods used to improve any process If you are untrained you can never become a manager Lean Principles: Tools and methods used to reduce the waste in any process Japanese Management Fredrick Taylor 34) BIG THREE OF MANAGEMENT: All three are all about productivity and performance 1. Classical 2. Behavioral 3. Modern 35) Responsibility: The ability or authority to act or decide on one’s own without supervision. 36) Question about Spiderman: What was his famous quote about ethics? “With great power comes great responsibility” 37) To teach ethics you must: be aware of protocol, to better your judgment, to get better behavior in the workplace. 38) PONG for Business Ethics P- Personal (most important) O- Organizational – hold all info on how business is ran N- National- International connections G- Global – Being a widespread business in many countries Which Letter in PONG is most important? P- Personal 39) Ethics Resource Center (2011-2013) conclusions: Less overall misconduct Trending downward Boss pressure has gone down 40) 2013 National Business Ethics Survey Results: 28% in 1994, lots of misconduct in the 90’s Reduced to 14% in 2000 Dropped to 11% from 2003-2006 Dropped further to 10%/8% until 2001 Rose to 13% because of economic crisis Back down to 9% in 2013, and expects to continue to decrease 41) Top 5 Misconduct behaviors: Abusive Behavior Lying to employees Internet abuse Discrimination Conflict of interest 42) Business Ethics: Set of principles, right of conduct and underlying value. 43) International Business Ethics: Two Types Cultural Relationships: Follow culture of the country the business is in Moral Absolutism: Practice only “home” culture no matter where business is Ethics is not the same around the world BUT… There are ethical norms in every business 44) Terminal: Instrumental: 45) Three main ideas when talking about ethics: 1. Can you teach ethics? 2. Is there a right and wrong? 3. Is ethics all the same? ----No! 46) Ethical Decision-Making Assessment Framework: MEMORIZE 1. Awareness 2. Facts 3. Stakeholders 4. Standards 5. Values 6. Actions Stakeholders: Anyone with an interest or stake in the company 47) Impact of Culture Leadership Driven: 58% of companies say they have a strong culture 42% say they have a weak culture 48) LOCKHEEAD AND MARTIN AND ETHICS: ON EXAM 49) Management Process Regardless of Leven Planning- Setting performance standards/checkpoints for company to achieve Controlling Organizing Leading Know that planning is always part of the management process Planning Process Steps: Define Objectives Compare Current to Objectives Compare Future Alternatives Analyze Alternatives/ Make Plan Implement and Evaluate Note: Traditional Decision- Making Best planning includes: Action Oriented Priority Oriented Advantage Oriented Change Oriented 50) Two types of Personal Planning Work Style and Life Style: Judging: Formal structured planning approach, linear time management Perceiving: Informal and unstructured planning approach, rounded time management 51) Priorities video: Priorities are key in planning Big priorities must always be first Other things can be seen as distractions Complacency avoidance Effective time management
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