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Week 2 Notes MNGT

by: William Burkett

Week 2 Notes MNGT MNGT-3100

Marketplace > Auburn University > Business > MNGT-3100 > Week 2 Notes MNGT
William Burkett
Introduction to Business Management
Alex Smith Ritenbaugh

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Introduction to Business Management
Alex Smith Ritenbaugh
Class Notes
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This 6 page Class Notes was uploaded by William Burkett on Friday August 28, 2015. The Class Notes belongs to MNGT-3100 at Auburn University taught by Alex Smith Ritenbaugh in Fall 2015. Since its upload, it has received 12 views. For similar materials see Introduction to Business Management in Business at Auburn University.


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Date Created: 08/28/15
MNGT3 100 Test 1 Notes Chapter 1 Management History continued I Scientific Management 0 Frederick Winslow Taylor I Behavioral approach 0 Hawthorne studies I Studied worker attitude and effects of benefits and opinion of job 0 Interest in worker participation and considerate leadership I Emphasized daily tasks people perform 0 Lead to the development of organizational behavior I Theories of motivation I Treating people better increases production I Asked what the employees thought about their own company and superiors I Quantitative approach 0 The use of quantitative techniques to improve decision making 0 TQM total quality management I Customer and process focused I Continuous improvements I Quality improvements throughout the organization I Accurate measurements I Empowered employees Chapter 3 I The Environment and Corporate Culture I Organizational Environment 0 External environment all of the element that can affect the organization global economy bad winter weather public opinion of a product political forces I Technological I Scientific and Tech advancements in specific industry and society I Today computer networks internet smart phones and videoconferencing are the minimum tools required 0 GPS tech logistics game changer inventory and order tracking 0 Robotics in manufacturing welding car production manufacturing packaging 0 Credit card tech impacts the way people buy things 0 PubliX has software that tells them how many lines they should have open during the day I Helps with scheduling and customer wait time I Avoids 2 lines open with 30 people in line not like Walmart I Demographic 0 In US workforce 0 Total population increase I Immigrants 0 Different products offered 0 Working population I More minorities and women 0 Aging population I 65 and older working with people who are fresh out of college 0 Global Workforce 0 Total population growth gt Africa and Asia I Large untapped markets 0 Aging population I How do different norms customs and values change across cultures I Sociocultural and I Represents demographic characteristics 0 Norm I Cultural norms ex Latin American cultures have long lunch and break in middle of the day I British Tea Time 0 Custom I Birthday celebration holidays 0 Value I What is valued work ethic customer service can be different from generation to generation or between cultures I Publix fresh locally grown food organic local food getting more popular I Economic I General economic health 0 Consumer purchasing power 0 Unemployment rate 0 Interest rate 0 Economies of countries are tied together 0 Currency and credit markets 0 Manufacturing 0 Significant trends 0 M and A merging and Acquisitions I Apple acquired beats audio 0 More start ups 0 Economic inequality I Politicallegal 0 Includes political activities and government regulations at local state and national levels designed to in uence company behavior 0 Ex EPA Imposes laws and restrictions on business to manage their pollution and impact on the environment 0 Ex FDA USDA 0 Pressure groups in uence companies to behave in a sociably responsible manner 0 Ex Lobby groups or special interest groups I Have in uenced the tobacco industry alcohol I Sociocultural I Global 0 New competitors suppliers and customers 0 Global shipping and communication has unlocked markets for global competitors 0 Shapes social technical and economic trends 0 Example American auto industry Not looking at the global picture 1980 doing good people buying American cars Toyota Honda and others entered American market and was beat out by cheaper longer lasting cars 0 Most dramatic shift in recent years 0 Shift of economic power to China and India manufacturing 0 Ethnocentrism thinking your country or way of doing things is the best way and there is no other way of doing things 0 Assessing environmental Uncertainty I The degree of change and complexity in an organization s environment 0 Its all about the degrees of change and complexity I Are there many regulations How complex are the products Is it a stable market Do the regulations change a lot 0 Managing the stakeholder Relationship I Stakeholder any constituencies in the organizations environment that are affected by an organization s decisions and actions I So who are the stakeholders 0 Employees customers Social and Political action groups Competitors Trade and Industry Associations Governments Media Suppliers Communities Shareholders Unions 0 The Task Environment I Customers I The people and organizations in the environment that acquire goods or services form the organization 0 Determine an organization s success I Patients and Hospitals I Students and CollegesUniversities 0 Customers have a much bigger voice now than they did The relationship has become much more important 0 Knowledge sharing good or bad thing I Competitors On test 0 Other organizations in the same industry or type of business that provide goods or services to the same set of customers 0 EX I Lowes Home Depot 0 Selection 0 Price 0 Customer service I Coke and Pepsi 0 Taste 0 Popularity 0 Advertising 0 Brand building 0 Show rooming looking for a new product go look for it in the store and look at it play with it then walk out and buy it on amazon I Some retailers are doing price match and bundling to retain customers I Suppliers 0 People and organizations who provide raw materials the organization uses to produce its output 0 Strategies 0 Using fewer suppliers 0 Building good relationships with suppliers 0 Internal environment I The elements withing the organization s boundaries 0 Production technology organization structure facilities I Includes 0 Organizational structure 0 Management 0 Employees I Organizational culture 0 The shared values principles traaditions and ways of doing things that in uence the way organizational members act and that distinguish the organization form other organizations 0 Significant to success I Org culture is O Perception 0 Descriptive 0 Shared 0 How is it visible 0 Artifacts dress office layout symbols slogans ceremonies I What is invisible 0 Expressed values the HP Way 0 Underlying assumptions and deep beliefs such as people her care about one another like a family How employees learn culture 0 Symbol object act or event that conveys meaning to others 0 Story a narrative based on true events that is repeated and shared among employees 0 Language pharsesentence that expresses an organizational value 0 CeremonyRitual a planned activity at a special event conducted for the benefit of an audience employees Strong Vs Weak 0 Strong I Consistent messages about what is important I Most employees can tell stories about company history or heroes I Employees strongly identify with culture I Strong connection between shared values and behaviors I Chick fil a Disney Hobby Lobby Apple I Values limited to a few people I Culture sends contradictory messages about what s important I Employees have little knowledge of company history or heroes I Employees have little identification with culture I Little connection between shared values and behaviors I Culture and the environment The external environment can have a large effect on corporate culture Cultures can vary widely across organizations Organizations within same industry often reveal similar cultural characteristics A strong culture alone does not guarantee business success 0 Adaptation to the external environment is required I Innovative Culture Challenge and involvement Freedom to make decisions and take risks Trust and openness Idea time gmail and google maps came out of this Playfulnesshumor Con ict resolution Debates Risk taking I CustomerResponsive Culture Type of employee 0 Attentive and enthusiastic serving Job environment makes company more responsive to customer complaints Empowerment Role clarity Drive to satisfy customers I Cultural Leader a manager who uses signals and symbols to in uence corporate culture 0 Managers shape values to build a highperformance culture 0 Ways cultural leaders in uence culture 0 Articulate Vision 0 Pay attention to daily actiVities that reinforce the Vision 39 walk the talk I Make sure work procedures and rewards match and reinforce values


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