...MANAGEMENT Leading & Collaborating in a Competitive World Foundations of Management • Managing • The External Environment and Organizational Culture • Managerial Decision Making Planning: Delivering Strategic Value • Planning and Strategic Management • Ethics and Corporate Responsibility • International Management • Entrepreneurship Strategy Implementation Organizing: Building a Dynamic Organization • Organization Structure • Organizational Agility • Human Resources Management • Managing the Diverse Workforce Leading: Mobilizing People • • • • Leadership Motivating for Performance Teamwork Communicating Controlling: Learning and Changing • Managerial Control • Managing Technology and Innovation • Creating and Managing Change PART ONE Foundations of Management The three chapters in Part One describe the foundations of management. Chapter 1 discusses the imperatives of managing in today’s business landscape and introduces the key functions, skills, and competitive goals of effective managers. In other words, it discusses what you need to do and accomplish to become a high-performing manager. Chapter 2 describes the external environment in which managers and their organizations operate— the context that both constrains and provides opportunities for managers. It also discusses what can be described as the organization’s internal environment: its culture. Chapter 3 discusses the most fundamental managerial activity: decision making. Because managers make...
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...Chapter 1 Introduction to Management Figure 1.1: Four Reasons To Study Management Important Managerial Skills • Technical Skills Expertise in a particular area — marketing, accounting, finance or human resources • Human Skills Abilities in getting along with people, leadership, helping others to be motivated, communication and conflict resolution • Conceptual Skills The ability to think about complex and broad organization issues Types of Managers • First-Line Supervisors – Manage the work of employees who are involved in the actual production or creation of an organization’s products or services. • Middle Managers – Manage first-line managers and others. • Top Managers – Have organization-wide managerial responsibilities—Chief Executive Officers (CEOs), Vice-Presidents, and Board Chairs What is Management? • Management – The process of planning, organizing, leading and controlling human and other organizational resources towards the effective achievement of organizational goals. • Organization – A goal-directed (planning), deliberately-structured (organizing) group of people working together (leading) to achieve results (controlling). Functions of Management (Fayol) • Four Management Functions: – Planning – Organizing – Leading – Controlling Managerial Roles (Mintzberg) • Interpersonal Roles – Leader, Liaison and Figurehead • Decisional Roles – Resource Allocator, Negotiator, Entrepreneur, Crisis Handler • Informational Roles –...
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...CHAPTER 1 FUNDAMENTAL CONCEPTS Questions, Exercises, Problems, and Cases: Answers and Solutions 1.1 The first question at the end of each chapter requires the student to review the important concepts or terms discussed in the chapter. In addition to the definitions or descriptions in the chapter, the end of the book has a glossary. 1.2 Titles could be Controller, Vice-President of Finance, or Chief Financial Officer. 1.3 The two major uses of managerial accounting information are (1) information for managerial decision making (for example, make-or-buy decisions, store closure decisions, capital investment decisions), and (2) information for managerial control and performance evaluation (for example, budgeting, comparing actual performance with norms or standards). The first use, which is the focus of Part II of this book, usually requires special purpose reports that estimate how revenues, costs, and investments will differ among the alternatives being considered. The second use, which is the focus of Part III of this book, usually involves routine monthly, quarterly, and annual performance reports. Information for planning requires estimates of future costs, revenues, and other data, while information for performance evaluation is generally based on data about the past. 1.4 Total Quality Management (TQM) means the organization is managed to excel on all dimensions and quality is ultimately defined by the customer. Under total quality management, performance...
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...Filled Notes for Chapter 1: Introduction to Operations Management Highlights of the chapter: 1. Operations as one of the three main functional concerns of most organizations. 2. The role and job of the operations manager as a planner and decision-maker. 3. Different ways of classifying (and understanding) production systems. 4. System design versus system operation. 5. Major characteristics of production systems. 6. Contemporary issues in operations management. 7. Operations as essentially managerial (planning, staffing, etc.) 8. The historical evolution of production/operations management. 9. Manufacturing operations versus service operations. Reading: The Challenges of Managing Services 1. In comparison to manufacturing industry, services have: a. Less structured jobs. b. Higher customer contact. c. Lower worker skills. d. Low skill entry-level positions. e. Higher employee turnover. f. Higher input variability. 2. Because of the factors listed in the answer to question 1, in service industry it is more difficult to control costs and quality resulting in lower productivity. In addition the risk of customer dissatisfaction is greater and employee motivation is lower. Reading: Why Manufacturing Matters 1. Since the U.S. economy is becoming more service based, the percentage of employment in manufacturing is declining while the percentage of employment in service industry is increasing. An agile manufacturer is able...
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...Strategic management chapter 1 Strategy is the direction and scope of an org over the long-term, which achieves advantage in a changing environment through its configuration of resources and competences with the aim of fulfilling stakeholder expectations. Characteristics of strategic decisions • Long-term direction • The scope of an organisation’s activities • Advantages being obtained over competitors • Strategic fit with the business environment- addressing change in the business environment • The organisation’s resources and competences- strategy is about exploiting the strategic capability of an org, to provide competitive advantage and/or yield new opportunities. • The values and expectations- of powerful actors in and around the org who can drive fundamental issues within it. The above are likely to: • Be complex in nature- defining feature of strategy and strategic decisions, especially so in orgs with wide geographical scope. • Be made in situations of uncertainty- inherent in strategy, as no one can be sure about the future • Affect operational decisions- if operational aspects are not in line with strategy then you will not succeed. Competence in particular operational activities might determine which strategic development might make more sense • Require an integrated approach, inside and outside the org- managers have to cross functional and operational boundaries to deal with strategic problems and come to agreements with other managers who...
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...CHAPTER 1 MANAGERS AND MANAGEMENT Competency: a combination of knowledge, skills, behaviors, and attitudes that contribute to personal effectiveness. Managerial competencies: sets of knowledge, skills, behaviors, and attitudes that a person needs to be effective in a wide range of positions and various types of organizations. Six managerial competencies: 1. Communication Informal communication Formal communication Negotiation 2. Planning and Administration Information gathering, analysis, and problem solving Planning and organizing projects Time management Budgeting and financial management 3. Teamwork Designing teams Creating a supportive environment Managing team dynamics 4. Strategic Action Understanding the industry Understanding the organization Taking strategic action 5. Global Awareness Cultural knowledge and understanding Cultural openness and sensitivity 6. Self-management Integrity and ethical conduct Personal drive and adaptability Balancing work and life demands Self-awareness and development What is an organization? Organization: a coordinated group of people who function to achieve a particular goal. Regardless of an organization’s specific goals, the job of managers is to help the organization achieve those goals. What is a manager? Manager: a person who plans, organizes, leads, and controls the allocation of human, material, financial, and information resources in pursuit of the organization’s...
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...Jesseca Hughes Chapter 1 1. Management is directing other people to work as a team to accomplish one desired goal. It’s hard to grow and maintain a business without management. A manager’s job isn’t to do the work that has to be done, it’s to help their employees stay on task and efficiently accomplish their goal for the company. 2. To be a successful manager, there are five functions you need to perform. Planning is the first important function. Managers need to be able to plan what their goals are and how to fulfill that task as efficiently as possible. Being organized is another important function, deciding who will do what and when it needs to be done is essential in completing their desired goal. Another function managers need is leadership, being able to motivate and inspire others to work hard is very important to help achieve their tasks. Controlling is the last function of management, managers need to set certain standards for their employees. They compare how that employee’s performance is and if their measurement doesn’t meet the managers’ standards, they have to make changes to accomplish the goal efficiently. 3. A company needs different kinds of managers, each having different responsibilities and doing different jobs. Top managers such as Chief Executive Officers (CEOs), Chief Operating Officers (COOs), Chief Financial Officers (CFOs), and Chief Information Officers (CIOs) are responsible for monitoring their business environments and...
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...Chapter 1- Introduction to Strategic Management Overview Strategy: set of related actions that managers take to increase their company’s performance -for most, if not all companies, achieving superior performance relative to rivals is the ultimate challenge -if a company’s strategies result in superior performance, it is said to have a competitive advantage -Ex: Dell’s strategies produced superior performance from mid-1990s until mid-2000s, as a result, Dell enjoyed competitive advantage over its rivals -How did they achieve competitive advantage? -due to successful pursuit of varying strategies: Direct selling, customization and efficient supply chain mgmt. -enabled company to lower cost structure, charge low prices, gain market share, and become more profitable than its rivals -Dell lost competitive advantage in later half of 2000s HP offered bundled products, needed to find ways to sell to intermediaries & Apple differentiation -first step toward achieving objective is to describe in more detail what superior performance/competitive adv mean and to explain pivotal role that managers play in leading strategy-making process Strategic Leadership: creating competitive adv through effective mgmt. of the strategy-making process -strat-making process is the process by which managers select/implement a set of strategies that ain to achieve a competitive adv Strategy Formulation: selecting strategies based on analysis of an org’s external/internal environment...
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...Principles of Database Management Systems Homework 1 Ying Li 4861521 Homework 1 Exercise 1.4 Explain the difference between external, internal, and conceptual schemas. How are these different schema layers related to the concepts of logical and physical data independence? Answer: External schemas, which usually are also in terms of the data model of the DBMS, allow data access to be customized (and authorized) at the level of individual users or groups of users. Internal (physical) schemas summarize how the relations described in the conceptual schema are actually stored on secondary storage devices such as disks and tapes. Conceptual (logical) schema describes the stored data in terms of the data model of the DBMS. In a relational DBMS, the conceptual schema describes all relations that are stored in the database. Any given database has exactly one conceptual schema and one internal schema because it has just one set of stored relations, but it may have several external schemas, each tailored to a particular group of users. External schemas provide logical data independence, while conceptual schemas offer physical data independence. Exercise 1.6 Scrooge McNugget wants to store information (names, addresses, descriptions of embarrassing moments, etc.) about the many ducks on his payroll. Not surprisingly, the volume of data compels him to buy a database system. To save money, he wants to buy one with the fewest possible features, and he plans...
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...1. An organization’s microenvironment is made up of actors, which are close to the company and affect the organization’s ability to serve it’s customers. Customers are actually one of the actors in a microenvironment. Marketers develop and market messages to appeal to a organization’s individual customer needs. Marketing Intermediaries are also an actor in an organization’s microenvironment. An intermediary like advertising or a transportation company could potentially increase or decrease customer satisfaction. Publics are also an actor. These publics are groups that may significantly impact marketing activities that are meant to contribute to a customers’ satisfaction with a product. 2. Demography is the study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics. The demographic environment is so important to marketers because these environments involve people, and people are what make up markets. 3. Millennials are people who were born from 1977-2000. They are of much interest to marketers because of how big of a market they create for now and the future. All of these Millennials embrace technology as a way of life, which creates more opportunities to market through social media. This marketing technique is effective because all of these Millennials understand how to use technology. 4. A trend that marketers must be aware of in the natural environment is the growing shortages of raw materials. Companies are...
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...1 Chapter One Chapter Outline Purchasing and Supply Management Supply Management Terminology Supply and Logistics The Size of the Organization’s Spend and Financial Signifi cance Supply Contribution The Operational versus Strategic Contribution of Supply The Direct and Indirect Contribution of Supply The Nature of the Organization Supply Qualifications and Associations Challenges Ahead Supply Chain Management Measurement Risk Management Sustainability Growth and Infl uence Effective Contribution to Organizational Success The Organization of This Text Conclusion Questions for Review and Discussion References Cases 1–1 Qmont Mining 1–2 Erica Carson 1–3 Southeastern University Purchasing and Supply Management 2 Purchasing and Supply Management Key Questions for the Supply Decision Maker Should we • Rethink how supply can contribute more effectively to organizational goals and strategies? • Try to find out what the organization’s total spend with suppliers really is? • Indentify opportunities for meaningful involvement in major corporate activities? How can we • Align our supply strategy with the organization’s strategy? • Get others to recognize the profit-leverage effect of purchasing/supply management? • Show how supply can affect our firm’s competitive position? Every organization needs suppliers. No organization can exist without suppliers. Therefore, the organization’s approach to suppliers, its acquisition processes and policies, and its relationships with...
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...Chapter 1: Modern Project Management 1. Define a project. What are five characteristics that help differentiate projects from other functions carried out in the daily operations of the organization? A project is a complex, no routine, off-time effort limited by time, budget, resources, and performance specifications designed to meet customer needs • An established objective • A defined life span with a beginning and an end • Involvement of several departments • Doing something unique • Time, cost , and performance requirements • To serve customers’ needs 2. Compression of the product life cycle, Global competition, Knowledge explosion, corporate downsizing, increased customer focus, and small projects represent big problems are all environmental factors. 3. It is important to strategic planning and the project manager because with a project there is so much going on between so many different people so the manager has to be able to implement a plan and have people follow it. This is the only way a project can run smoothly and with the least amount of problems. If the manager is able to get the best success with good project implementation. 4. The technical side of the coin represents the science side of project management while the sociocultural side of the coin represents the art of managing a project. In order for a manger to be successful they must be a master of both sides of the coin. While some managers tend to focus on the technical side rather than the...
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...CHAPTER 1 INTRODUCTION TO MANAGEMENT AND ORGANIZATIONS WHO ARE MANAGERS MANAGERS - someone who coordinates and oversees the work of other people so that organizational goals can be accomplished 3 MANAGERIAL LEVELS: 1. FIRST LINE MANAGERS 2. MIDDLE MANAGERS 3. TOP MANAGERS FIRST-LINE MANAGERS - managers at the lowest level of the organization that manage the work of nonmanagerial employees - involves producing the organization’s products or serving the organization’s customers - titles: o supervisors o shift managers o department managers o office managers o foreperson MIDDLE MANAGERS - managers between the first level and the top level of the organization who manage the work of the first line managers - title: o regional manager o project leader o plant manager o division manager TOP MANAGERS - managers at or near the upper levels of the organization structure who are responsible for making organization wide decisions and establishing the goals and plans that affect the entire organization - titles: o executive vice president o president o managing director o chief operating officer o chief executive officer o chairperson WHAT IS MANAGEMENT MANAGEMENT - coordinating and overseeing the work activities of others so that their activities are...
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...Completion of Chapter 1 Proctor and Gamble – Focus on repeat customers * Practical satisfaction of meeting customer requirements. * Review of modern quality – Skilled craftsman on 1 to 1 basis. Blacksmith.. one on one negotiation face to face relations with customers. * Industrial Revolution – Henry Ford – Mass production. Quality once a post production review. Reactive approach. * Bell System Statistical – Shurart. * WWII Post War l 40’sand 50’s- Beming and Juran concepts fell on deaf ears. This message brought to Japan where concepts were embraced. Outperforming US counterparts. * Fast forward to 1980s… Crisis around globe. Total Quality was reactive approach to crisis. Total quality Shift in vision from reactive little q (reactive post production inspection ) to big Q. – Total Quality approach with no external department but integrated with all responsible for their own quality. Late 80’s-`987 Malcolm Baldrige Award. TQM wasn’t an integrated function at that point. Emergence of quality management - in service industries, government, health care and education. Evolution of quality to the broader concept of performance excellence Growth and adoption of Six Sigma Current and future challenge: continue to apply the principles of quality and performance excellence. Quality is a “race without a finish line”. It is ongoing and continuous. Contemporary Influences on Quality. Globalization Social Responsibility New Dimensions...
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...PART 1 Understanding the Foundations of Business Communication CHAPTER 1 CHAPTER 2 CHAPTER 3 Achieving Success Through Effective Business Communication Mastering Team Skills and Interpersonal Communication Communicating in a World of Diversity career, and how to adapt your communication experiences in life and college to the business world. Improve your skills in such vital areas as team interaction, etiquette, listening, and nonverbal communication. Explore the advantages and the challenges of a diverse workforce and develop the skills that every communicator needs to succeed in today’s multicultural business environment. N o other skill can help your career in as many ways as communication. Discover what business communication is all about, why communication skills are essential to your 1 1 1 2 3 Achieving Success Through Effective Business Communication LEARNING OBJECTIVES After studying this chapter, you will be able to Explain the importance of effective communication to your career and to the companies where you will work Describe the communication skills employers will expect you to have and the nature of communicating in an organization by using an audience-centered approach Describe the communication process model and the ways that social media are changing the nature of business communication 4 5 List four general guidelines for using communication technology effectively Define ethics, explain the difference between an ethical...
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