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BA 316 Week 1

by: Ryan Schulte

BA 316 Week 1 BA 316

Ryan Schulte

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Week 1 Notes
Mgmt: Value thru People
Boren B
Class Notes
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This 3 page Class Notes was uploaded by Ryan Schulte on Sunday April 17, 2016. The Class Notes belongs to BA 316 at University of Oregon taught by Boren B in Fall 2016. Since its upload, it has received 9 views. For similar materials see Mgmt: Value thru People in Business, management at University of Oregon.

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Date Created: 04/17/16
BA 316 Week 1 03/31/2016 Chapter 1 What is management?  Informal definition: “The art of getting things done through people” o Managers operate inside of an organization(a group of people who work together to achieve a common goal)  Formal Definition: The pursuit of organizational goals efficiently and effectively by integrating the work of people through Planning, Organizing, Leading, and Controlling o Being efficient is using resources wisely and cost effectively ▯ What are the primary challenges of management?  Balance efficiency and effectiveness  Generally they focus too much on efficiency and not on effectiveness ▯ ▯ Four functions of management:  Planning o Set goals and learn how to achieve them  Organizing o  Leading o People skills  Controlling o Monitoring your progress towards goals ▯ ▯ Competitive advantage: the ability of an organization to produce goods and services better than its competitors ▯ ▯ Companies with a competitive advantage will outperform their competitors in four ways  Customer responsiveness  Innovation  Quality  Efficiency ▯ Ex: blockbuster having a large selection, and being everywhere their customers were. But they couldn’t sustain the advantage because they didn’t evolve with the times. ▯ ▯ Managerial challenges  Managing for competitive advantage  Managing for diversity  Managing for globalization  Managing for information tech  Managing for ethical standards  Managing for happiness and life goals ▯ Terminology:  Managerial pyramid: o Top managers  CEO,CFO, etc.  Focus on long term  Middle managers o Implementing policies set by top managers ▯  First line managers o Foremen, supervisors o Short term operating decisions  Non-managerial personnel o Team leaders o Facilitate team behaviors toward goals ▯ ▯ Entrepreneur: taking risks to create a new empire, seeing a new opportunity and launches a business to realize it ▯ ▯ Intrepenuer: works inside an existing company ▯ History of management?  Two broad perspectives: o historical o contemporary  Fredrick Taylor: the father of modern management o He first identified the link between rewards and performance o Employees should be provided feedback o Scientific management: you can break down a task and develop the most efficient way to go about the task o Problems: too mechanistic, not connected to others  Elton Mayo o Hawthorne Studies(Western Electric phone company) 1924  Studied how the lighting in factories affected output, they concluded that it had little correlation What skills do managers need?  Technical skills  Interpersonal Skills  Conceptual skills-most important ▯ ▯ ▯


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