MGT 210, week 1 notes
MGT 210, week 1 notes MGT 210-003
Popular in Organization and Management
Popular in Management
This 3 page Class Notes was uploaded by Loretta Hellmann on Sunday August 28, 2016. The Class Notes belongs to MGT 210-003 at Western Kentucky University taught by Dr. Michael Spiller in Fall 2016. Since its upload, it has received 148 views. For similar materials see Organization and Management in Management at Western Kentucky University.
Reviews for MGT 210, week 1 notes
Report this Material
What is Karma?
Karma is the currency of StudySoup.
Date Created: 08/28/16
Week 1 Notes Tuesday, August 23, 2016 9:45 AM Managing and Performing Chapter One 8/25/2016 Why Management The Functions of Management Management The process of working with people and resources to accomplish organizational goals Efficiently, effectively To be efficient means to use resources- people, money, raw materials, and the like- wisely and cost- effectively To be effective means to achieve results, to make the right decisions and to successfully carry them out so that they achieve organizational goals Effective VS efficient Four principles of management Planning You set goals and decide how to achieve them Organizing You arrange tasks, people, and other resources to accomplish the work Controlling You monitor performance, compare it with goals, and take corrective action as needed Leading You motivate, direct, and otherwise influence people to work hard to achieve the organization's goals Competitive Advantage "if you don't have a competitive advantage, don't compete" - Jack Welch Competitive Advantage- what puts you above other competitors Innovation EX: apple Quality Service EX: Chick-Fila Speed Jimmy Johns Cost Competitiveness Sustainability Management Levels and Skills Top-Level Managers CEO Thinking about the future Middle-Level Managers A store manager Someone in-between the top manager and supervisor/ shift manager Frontline Managers Supervisors Day to day activities Management Skills Technical skill The ability to perform a specialized task involved a particular method or process Conceptual and decision skills Skills pertaining to the ability to identify and resolve problems for the benefit of the organization and its members Interpersonal and Communication skills People skills; the ability to lead, motivate, and communicate effectively with others You and Your Career Emotional intelligence The skills of understanding yourself, managing yourself, and dealing effectively with others Social capital Goodwill stemming from your social relationships Management relates to and takes ideas from other disciplines such as: sociology, psychology, philosophy, anthropology, economics, and political science