Week 1 Online Lecture Notes
Week 1 Online Lecture Notes MGT 300
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This 4 page Class Notes was uploaded by Linsey Moen on Monday September 12, 2016. The Class Notes belongs to MGT 300 at Arizona State University taught by Dr. David Kim McKinnon in Fall 2016. Since its upload, it has received 5 views.
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Date Created: 09/12/16
MGT 300 Lecture Notes: Module One I. Week 1: Lecture 1 a. Managers operate within an organization b. Organization: i. Two or more people with a common goal. ii. A group of people working to accomplish something important. iii. A group of people who work together to achieve some specific purpose. c. Organization Purpose i. They do things that people can’t do on their own. ii. Exist to make ordinary human being to perform better than they see capable of. The purpose of an organization is to enable common people to do uncommon things 1. Peter Drucker “founder of the profession of management d. Management Defined i. The pursuit of organizational goals efficiently and effectively by integrating the work of people through planning, organizing, leading, and controlling the organization’s resources. ii. “The pursuit of organizational goals efficiently and effectively” 1. We want to be focused on something in an efficient and effective way. e. Why are Organizational Goals Important? i. Purpose – setting and achieving goals (what we’re doing) [planning] ii. Direction – arranging tasks and motivating people (how we’re doing it) [organizing & leading] iii. Control – comparing performance with goals ( how well we’re doing it) [controlling] f. Why Both Efficiency and Effectiveness? i. Efficiency - Minimizing Waste, Using Minimum Resources (Focusing on the Means; Doing Things Right) 1. Such as time, material and money. ii. Effectiveness - Achieving the Desired Results (Focusing on the Ends; Doing the Right Things) 1. Focus on the high priorities g. How important are the “People?” i. People are the reason these things work. ii. Seven (plus one) Challenges to Being an Exceptional Leader: 1. Managing for: a. 1. Competitive Advantage b. 2. Diversity c. 3. Globalization d. 4. Information Technology e. 5. Ethical Standards f. 6. Sustainability g. 7. Your Own Happiness h. 8. Retaining and Developing TALENT! h. How do the Functions of Management Relate to Achieving Goals? i. Planning – setting goals and deciding how to do them ii. Organizing – arranging tasks, people, and other resources to accomplish the work iii. Leading – motivating, directing and otherwise influencing people to work hard to achieve the organizational goals. iv. Controlling – monitoring performance, compare it with goals and take corrective action as needed. i. How Valuable are Managers? i. The multiplier Effect 1. Make everyone around them better 2. The manager is the key person on the team that makes everyone better ii. Performance Differences Among Managers 1. Poor Managers – negatively affect results 2. Good Managers – dramatic improvement 3. Exceptional Managers – often double “Good Manager” results a. Profits and productivity were higher than good managers b. Always in demand iii. Rewards for the Exceptional Manager 1. Opportunity for financial rewards 2. Opportunity to challenging work 3. Opportunity to accomplish something significant II. Lecture 2 a. Lecture just went over due dates and how to navigate blackboard and learnsmart III. Lecture 3 a. Management Positions and Titles i. Top Management 1. Chief Executive Officer 2. President 3. Chief Operating Officer 4. Executive, Senior or Vice President ii. Middle Management 1. Director 2. Regional Manager 3. Plant Manager iii. First-Line Manager (first-line supervisor) 1. Supervisor 2. Foreman 3. Team Leader b. Management Focus i. Top Managers: Make long-term, strategic decisions about the overall direction of the organization (3-5 years) ii. Middle Managers: Implement plans of top managers and coordinate activities of first-line managers (6-18 months) iii. First-Line Managers: Make short-term operational decisions, direct tasks of non- managerial employees (1-3 months) c. Functional vs. General Management i. Functional Manger – responsible for just one organizational activity ii. General Manager – responsible for several organizational activities iii. Example: For-Profit Functional Areas 1. Administration/ IT Support, Human Resources, Finance/ Accounting, Production/ Operations, Research/ Development, Market/sales, and customer services a. Functional manager would be in charge of only one of these areas iv. Example: Functional Areas of Nonprofit 1. Administration Services, Informational Services, Therapeutic Services, Diagnostic Services or support services. a. Functional Manager would be in charge of only one area d. Non-managerial Personnel i. What percent of the work that normally gets done will still get done when 1. You are out of town for three weeks a. 85 – 100% 2. All your employees are out of town for three weeks a. 5 – 15% ii. You need your employees more than they need you. Your success as a manager is highly influenced by your employees. IV. Lecture 4 a. What Do Managers Do i. Henry Mintzberg (late 1960s) followed CEOs for one week and concluded that 1. A manager relies more on verbal than on written communication 2. A manager works long hours at an intense pace 3. A manager’s work is characterized by fragmentation, brevity, & variety a. Constantly being interrupted with different things b. What Are Their Roles? i. Mintzberg concluded that managers play 3 broad roles 1. Interpersonal Role (People) 2. Informational Role (Information) 3. Decisional Role (Action) c. Interpersonal Roles: managing through people i. Figurehead - social, inspirational, legal, ethical, & ceremonial duties ii. Leader - train/develop, motivate, encourage/ discipline workers to accomplish organizational goals iii. Liaison - information/communication/network outside of work unit d. Informational Roles: managing by information i. Monitor - scan environment for information for things that need to be addressed ii. Disseminator - share information within the work unit 1. What needs to be shared, with whom iii. Spokesperson - share information (positively) outside the unit/organization 1. When information can be shared with people on the outside e. Decisional Roles: managing through action i. Entrepreneur - initiate and encourage change & innovation 1. Deciding what to change, when to change and how to change ii. Disturbance Handler -respond to problems that need attention iii. Resource Allocator - set priorities about the use of resources 1. Decide how the budget will be spent, when to hire a new employee iv. Negotiator - work with others inside/outside organization to accomplish goals 1. When we get stuck, helps us move forward v. Are there Differences in the Importance of Roles across Levels? 1. In other words, are some roles important at some levels and unimportant at others? a. The answer is no. b. The relative importance was similar across the managerial levels c. However, there were some differences with respect to emphasis i. Top Level Managers (External Roles: Liaison, Spokesperson, Figurehead) ii. Mid-Level Managers iii. First-Line Managers (Internal Role: Leader) vi. What Do Managers Do…What Skills Do They Need? 1. Robert Katz (mid 1970s) concluded that there are three basic skills that every successful manager must have a. Technical (Ability to Perform a Certain Job) b. Conceptual (Ability to Think Analytically) c. Human (Ability to Interact Well With People) 2. Are there Differences in the Importance of Skills across Levels? a. YES b. However, only with Conceptual Skills for Top managers. c. No differences for Technical or Human Skills across levels. d. Overall, Human Skills were rated as most important. vii. Roles and skills can be learned
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