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Management Week 4 Notes

by: Johanna Glaser

Management Week 4 Notes MGMT 3490-004

Johanna Glaser
GPA 3.717
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Here are all of the notes trough week 4. I will upload any we receive from this week before the test. Hope they are helpful. Good Luck!
Robert Ottemann
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This 7 page Class Notes was uploaded by Johanna Glaser on Tuesday September 20, 2016. The Class Notes belongs to MGMT 3490-004 at University of Nebraska at Omaha taught by Robert Ottemann in Fall 2016. Since its upload, it has received 83 views.

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Date Created: 09/20/16
Highlight-Important Term Highlight- Important Concept Highlight- Important People Chapter 1 What is Management?  The attainment of organizational goals in an effective and efficient manner through planning, organizing, staffing, directing, and controlling organizational resources What is a Manager’s Responsibility?  Achieving organizational objectives through efficient and effective utilization of resources o Efficient- doing things right so as to maximize the utilization of resources o Effective- doing the right thing in order to attain an objective  Managers effectiveness reflects the degree to which he/she achieves objectives  Manager’s Resources- Human, financial, physical, and informational resources o Human- managerial talent & labor o Financial- capital investments to support on going and long-term operations o Physical- raw materials; office and production facilities, and equipment o Informational- usable data, information linkages  Performance- means of evaluating how effectively and efficiently managers utilize resources to achieve objectives What does it take to be a successful manager?  Executives in the Gallup survey identified the 3 most important traits for successful managers as: 1. Integrity 2. Industriousness 3. The ability to get along with people  Management Skills o Technical Skills- the ability to use methods and techniques to perform a task o Interpersonal Skills- the ability to understand, communicate with, and work well with individuals and groups through developing effective relationships o Decision-Making Skills- the ability to conceptualize situations and select alternatives to solve problems and take advantage of opportunities Conceptual Diagnostic Skills Skills Top Manager Middle Manager First-Line Manager Technical Skills Interpersonal What Do Managers Do?  Management Functions- planning, organizing leading, and controlling o Planning- the process of setting objectives and determining in advance exactly how the objectives will be met o Organizing- the process of delegating and coordinating tasks and allocating resources to achieve objectives o Leading-the process of influencing employees to work toward achieving ability  Managers must communicate the objectives to employees & motivate them to achieve those objectives by developing positive relationships o Controlling- the process of monitoring and measuring progress and taking corrective action when needed to ensure that objectives are achieved How Managers Learn to Manage 20% Job Assignment Relaitonships 50% Formal Traing 30% Education If you want to learn how to manage, you need to put yourself in those situations. CANNOT just read a book. The Importance of Theory & History  Theory- a conceptual framework for organizing knowledge and providing a blue print for action o Simply a framework  Management theories are grounded in reality  Managers develop their own theories about how they should run their organizations  Why history? o Understanding historical developments in management aids managers in the development of management practices & in avoiding the mistakes of others The Classical Management Perspective  Consists of 2 different viewpoints o Scientific Management  Frederick Taylor (1856-1915)  Father of Scientific Management  Replaced rule of thumb method with scientifically based work methods to eliminate “soldiering”  Believed in selecting, training, teaching, & developing workers  Used time studies, standards planning, exception rule, slice-rules, instruction cards, & piece-work pay systems to control & motivate employees o Administrative Management Theory  Focuses on managing the total organization rather than individuals  Henry Fayol  Wrote: “General & Industrial Management”  Helped to systematize the practice of management  14 principles The Behavioral Management Perspective  Behavioral Management o Emphasized individual attitudes & behaviors, & group processes o Recognized the importance of behavioral processes in the work place  Hugo Munsterberg (1863-1916) o Psychologist The Hawthorne Studies o Conducted by Elton Mayo & associates at Western Electric (1927- 1935)  Illumination study of changes in workplace lighting unexpectedly affected both the control group & the experimental group of production employees  Group Study- the effects of a piecework incentive plan on production workers  Workers established informal levels of acceptable individual output  Interview Program  Confirmed the importance of human behavior in the work place  The Human Relations Movement o Grew out of the Hawthorne Studies o Proposed that workers respond primarily to the social context of work o Abraham Maslow (psychologist)  Advanced a theory that employees are motivated by hierarchy of needs that they seek to satisfy o Douglas McGregor  Proposed Theory X and Theory Y concepts of managerial beliefs about people and work The Contingency Perspective  An integrative Framework o Is a complementary way of thinking about theories of management o Involves the recognition of a current system How Environments Affect Organizations  Change & Complexity o Environmental change occurs in 2 ways:  Degree to which change in environment is occurring  Degree of homogeneity or complexity of the environment o Uncertainty  A driving force that influences organizational decisions  Competitive Forces o Porter’s 5 Competitive Forces  Threat of new entrants into the market  Extend to & ease with which competitors can enter the market  Competitive rivalry among present competitors:  Competitive rivalry between firms in an industry  Threat of substitute products  Extent to which alternative products/services may replace the need for existing products/services  Power of Buyers  Extent to which buyers influence market rivals  Power of Suppliers  Extent to which suppliers influence market rivals  Environmental Turbulence o Unexpected changes & upheavals in the environment of a company How Organizations Adapt to Their Environments  Info Management in organizations o Boundary spanners o Environmental scanning o Information systems  Strategic Response o Maintaining the status quo, altering the current strategy, or adopting a new strategy  Mergers, Acquisitions, Alliances o Firms combine (merge), purchase (acquisition), or form new venture partnerships or alliances with another firm Individual Ethics in Organizations  Ethics: and individual’s personal beliefs regarding what is right & wrong or good & bad  Ethical behavior: “eye of the beholder” or behavior that conforms to generally accepted social norms Domain of Managerial Ethics  How organization treats employees o Hiring & firing o Wages & working conditions o Privacy  How employees treat organizations o Conflicts of interest o Secrecy o Honesty & expense accounts  How organization treats economic agents o Customers o Competitors o Stockholders o Suppliers o Dealers o Unions  Managing Ethical Behavior o Must begin with top management o Training employees to handle different ethical dilemmas o Develop a written code of ethics  Individual issues o Behavior & conscience o Privacy 2 views of social responsibility  The classical view: view that the management’s only social responsibility is to Maximize profit  Socioeconomic View: managements social responsibility goes well beyond the making of profits to include protecting & improving society’s welfare Social Responsibility & Organizations  Organizational Shareholders o People and organizations directly affected by the behaviors of an organization and that have a stake in its performance  Social Responsibility o The set of obligations to behave responsibly  Areas of social responsibility o Stakeholders o The natural environment o The general social welfare For Social Responsibility Against Social Responsibility 1. Business creates problems & 1. The purpose of business in American society should therefore help solve them is to generate profit for owners 2. Corporations are citizens in our society 2. Involvement in social programs gives business too much power 3. Business often has the resources necessary 3. There is potential for conflicts of interest to solve problems 4. Business is a partner in our society, along 4. Business lacks the expertise to manage with the government & the general populations social programs


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