Principles of Management Notes for March 8th, 10th
Principles of Management Notes for March 8th, 10th Econ 2020
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This page Class Notes was uploaded by Robin Silk on Monday March 14, 2016. The Class Notes belongs to Econ 2020 at University of Colorado at Boulder taught by Jay Kaplan in Spring 2016. Since its upload, it has received 13 views. For similar materials see Principles of Macroeconomics in Economcs at University of Colorado at Boulder.
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Date Created: 03/14/16
March 8th Management Notes Personality Traits 1 Traits a Traits affect how managers think feel and behave b OCEAN i Openness to Experience 1 How willing are you to explore and leave your comfort zone ii Conscientiousness 1 How well organized are you iii Extraversion 1 Do you get energy from meeting people 2 High correlation to job performance 3 High correlation to sales people iv Agreeableness 1 How nice are you v Neuroticism 1 How sensitive are you to your emotions 2 Do your emotions get the best of you vi Additional Narcissism 1 Degree of sense of selfimportance and arrogance 2 CEO narcissism positively correlated with stock prices 3 of friends amp wall posts is highly correlated with narcissism 2 Locus of Control a Do I control my own destiny b Ensures ethical behavior and decision making 3 SelfEsteem a Degree to which individuals feel good about themselves and their capabilities i High selfesteem makes a person feel competent deserving capable ii People will low selfesteem have poor opinions of themselves 4 Values Attitudes Moods Emotions a Values i Describe what managers try to achieve through work and how they think they should behave b Attitudes i Capture managers thoughts feelings about their specific jobs and organizations c Moods amp Emotions i How managers actually feel when they are managing d Job Attitudes i Organizational commitment ii Job Satisfaction 5 Emotional Intelligence a Understanding and managing your own emotions amp others emotions too i Five Elements SelfAwareness SelfManagement SelfMotivation Empathy Social Skills F thDN March 10th Culture 1 What is Culture and How Does It Work a One of the most important factors in business b Set of shared values norms assumptions that guide people s behavior within a group business or institution to achieve organizational goals i Values drive behaviors that lead to results c strong organizational culture exists when i members are committed to a shared system of values etc 2 The Cultural lceberg a Culture has layers i Visible Top 1 Observable Behaviours 2 Symbols Slogans Published List of Values 3 Visible Structures and Processes ii Espoused Beliefs and Values 1 Ideologies Goals Aspirations 2 May Not Be Consistent With Published Values 3 Validated By Shared Experience iii Basic Underlying Assumptions 1 Unconscious TakenFor Granted Beliefs and Values 2 Determines Perceptions and Behaviours 3 Factors That Maintain and Transmit Organizational Culture a Values of the Founder i AttractionSelectionAttrition 1 Founders tend to hire employees whose personalities that are similar to their own b Socialization C d i Orientation ii Teaching newcomers Stories and Language i Behaviors that are valued by the organization and practices that are frowned on Ceremonies and Rites i Rites of Passage 1 Entrance Exit Advancement etc ii Rites of Integration 1 Build and Reinforce Common Bonds Among Organizational Members 2 Lunch Sports Ways to Bond iii Rites of Enhancement 1 Publicly Recognize and Reward Employee Contributions 4 Strong and Weak Cultures a Strong i Central values and norms shared strongly ii Often found in partnerships family businesses startups iii Can inhibit an organization s ability to adapt b Weak l Values and norms shared by a limited group of people ii Goals might not all be aligned iii Can be a benefit for diverseinternational company iv Strong underlying values of learning and adaptation 5 National Culture a b c d Comes from how people grow up Different factors and influences Culture relativism right and wrong is dependent on the culture Hofstede i IBM Employee who came up with 6 dimensions to describe people with ii Slide in powerpoint has it
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