MGMT 3000 Guhde Test 1

Mangement Definition

Attainment of organizational goals in an effective and efficient manner through planning, organizing, leading and controlling organizational resources

Peter Drucker

The father of modern business management. Successful Leaders should put people and ethics first rather than focusing entirely on profits and rigid work structures.

Rapid environment shifts from technology

- Technology (e.g., social media, mobile apps, AI, etc.)

- Move to a knowledge/information-based economy

- Global Market Forces

- The growing threat of cybercrime

- Shifting expectations by employees & customers

Organization

Social entity that has been deliberately structured and goal directed.

Organizational Effectiveness

How well an organization is achieving said goals

Organizational Efficiency

The amount of resources used to achieve an organizational goal

High Performance

An organization with high efficiency and effectiveness

Managment skills

1. Technical

2. Human

3. Conceptual

Degree of skills varies but must have all 3

Application of skills changes as you climb the ladder

General Managers

responsible for several departments that perform different functions

Functional managers

Responsible for departments that perform a single task

Project Managers

Responsible for temporary work projects involving people from different functions and levels

Line Managers

responsible for departments that perform a core function of the organization

staff managers

responsible for departments that support the organizations line departments with specialized advisory or support functions

Classical Perspective

Emerged during the 19th and 20th centuries during the rise of factories

Large complex organizations required new approaches to coordination and control

4 sub-fields

Scientific Management (part of classical perspective)

Improve efficiency and labor productivity through scientific methods

Mcdonalds' management system perfectly follows the scientific management system from producing and selling

Frederick Winslow Taylor (scientific)

proposed that workers could be retooled like machines

Management decisions would be based on precise procedures based on a study

Henry Gantt (scientific)

Developed the Gantt chart, a bar graph that measures planned and completed work

Frank and Lillian Gilbreth (scientific)

Pioneered time and motion studies to promote efficiency

Bureaucratic Organizations (part of classical management)

Organization depends on rules and record

Max Weber (bureaucratic)

german theorist

Manage organizations on an impersonal rational basis

Managers use power instead of personality to delegate

Although important productivity gains come from this approach bureaucracy has taken a negative tone

Administrative Principles (part of classical)

Focused on entire organization

Henri Fayol (administrative)

listed 14 general principles of management and 5 functions of a manager

Many used still today: unity of command, division of work, unity of direction and scalar chain

5 functions of management (fayol)

planning

organizing

commanding

coordinating

controlling

Charles Clinton Spaulding (administrative)

outlined eight fundamental necessities including

authority and responsibility, division of labor, adequate manpower, cooperation and work

Management Science (part of classical)

AKA Quantitative perspective

Developed for military during WW2

applied mathematics, stats, and other quantitative techniques to management decisions and problems

subsets include: operations research, operations management, information technology

Humanistic Perspective

in contrast to scientific management, about the importance of people rather than engineering techniques

understand human behavior, needs, and attitudes, in the workplace

Mary Parker Follett and Chester Barnard (humanistic)

Empowerment: facilitating instead of controlling employees

Acceptance theory of authority: people can choose to follow management orders

Human Relations Perspective (humanistic)

Hawthorne studies were a key contributor

Human Relations played a key variable in increasing performance

Employees perform better when mangers treat them positively

Hawthorne Studies (human relations)

Conducted from 1927-32

Western Electric Hawthorne works in Chicago (shaan not from there)

HBS professor Elton May studies productivity and work conditions (environment factors)

Human Resources Perspective (humanistic)

Satisfied workers produce more work

Allows workers to use full potential

Shifted emphasis to daily tasks

Combined job design and motivation

Maslows hierarchy of needs (grippy socks)

Mcgregor Formulated theory X and theory Y about workers motivation

Behavioral Sciences Approach (humanistic)

Scientific methods + sociology, psychology, anthropology, economics, etc. to develop theories about human behavior and interaction in an organizational setting

Organizational Development: a set of management techniques that use behavioral sciences to improve an organizations health and effectiveness

Other Stratagies

Matrix Organizations

Self-managed teams

Corporate Culutre

Management by wandering around

Systems Thinking (recent trend)

Ability to see the distinct elements of a situation as well as the complexities

System: set of interrelated parts that function as a whole to achieve a common purpose

Subsystem:parts of a system that depend on one another

Synergy: the whole is greater than the sum of its parts

Contingency View (recent trends)

Opposite of the universalist view of the classical perspective

Managers must determine what method will work in every new situations

Managers must identify key contingencies for current situation

Big Data Analytics (contingency)

technologies, skills, and processes for searching and examining massive sets of data to uncover hidden patterns and correlations

descendants of scientific management and recent iteration of quantitative approach

Internet of Things (contingency)

smart devices and chirps that communicate to other devices

helps with managing the supply chain, or the sequence of suppliers and purchases

Radical Decentralization (contingency)

employees have the authority to make key decisions about their work, eliminating much of hierarchal reporting

Employees flourish when give more responsibility and control over their own work (theory y)

Employee engagement (contigency)

the emotional commitment the employee has to the organization and its goals

doesn't = happiness

doesn't = satisfaction

AI

techniques by which computers systems learn communicate and make decisions similar to human beings,

Get the computers to the jobs we don't want to do

Nudge Management

applying behavioral science insights in organizational design to guide people toward behaviors that support organizational goals and values

Central idea is to indirectly influence individuals without taking freedom of choice. It discourages using orders and directions and replace them with giving choices and enabling environment and encouragement

Task Environment

4 factors

Customers: people that buy your shit

Competitors: the people who sell the same shit you do

Suppliers: the people who give you the stuff you sell (also the supply chain is part of this but nobody actually cares)

Labor Market: the people who are available to be hired and work for you

General Environment

6 factors

International: must consider the happenings from around the world and how it's affect you(ex. new competitors or your supplier goes down)

Technological: how the new tech can be used to help your business

Sociocultural: the cultural impacts of population and how it might affect your business, current trends that you have to follow

Economic: consider unemployment, purchasing power, etc. you know what the economy is

Legal-Political: how the government actions might affect your business fair trade whatever who cares

Natural: all elements that occur naturally on earth. HURRICANE

Organizational ecosystem

the system formed from the interactions between organizations in the environment

Strategic Issue(adapting to environment)

Events either inside or outside an org that are likely to alter its ability to achieve its objects

Boundary Spanning

actions that link to and coordinate the organization with key elements in the external environment

(social media analytics and big data analysis)

Corporate Culture

set of values beliefs understandings and norms shared by members of an organization

Toxic Culture

exists when persistent negative sentiments and infighting cause stress, unhappiness, and lower productivity among subgroups of employees

Adaptability Culture

highly responsive, values ability to rapidly direct, interpret, and translate from the environment into new behaviors

Achievement culture

results oriented, values competitiveness, aggressiveness, personal initiative, cost cutting, and willingness to work long and hard to achieve results

Involvement Culture

internally focused, values meeting the needs of employees as well as cooperation and equality

consistency culture

stable, values following the rules and thriftiness and rewards, rational, orderly way of doing things

International Management

managing in more than one country

god this class is so dumb

Globalization

the extent to which trade and investments info etc. flow between countries

increased interdependence

Global mind-set

ability of managers to appreciate and influence individuals, groups, and orgs that possess different social, cultural and all that other stuff

China

Population 1.412 Bill

largest market for a variety of products and services

gov't regulations make doing business a hassle

in a bitter trade war with US

India

1.393 Bill

Large english speaking population makes it natural for US companies

rising power in software design, services, and engineering

industry leader in IT outsourcing

Multinational corporations

You'll never guess what this one is

its countries that do a lot(over 25%) of business outside it's home country

Managed as integrated worldwide business system

Controlled by a single management authority

Regard the entire world as one market

Ethnocentric Companies

Companies that place emphasis on their home countries

polycentric companies

oriented toward the markets of individual foreign host countries

geocentric companies

world oriented and favor no specific country

Serving the Bottom of the Pyramid

Corps can help alleviate poverty and other social ills and make significant profits by selling to the world's poorest people

EX. Citibank ATMs in India called Suvidha

Exporting

the same thing exporting has always meant making your stuff and home and then sending it somewhere else

Global outsourcing

getting countries ravaged by imperialization to do all your work for almost no pay

partnerships

making a deal with someone in a foreign country

seen as the cheapest and safest way to enter a global market

Joint Venture: two companies share risk to develop new products or set up a factory or something

Political Risk

the risk of loss of money due to political changes in a host country

includes internal conflicts like terrorism or social activism

political instability

includes riots revolutions civil disorders and frequent changes in governments

Ethnocentrism

tendency to regard ones own culture as the best and superior to others

Hofstede value dimensions

Power distance: level of acceptance of inequality

uncertainty avoidance: how uncomfortable with unstructured ambiguous situations

Individualism and collectivism: how much the society values working together or exceeding on your own

Masculinity/feminity: how much the society values high achievement, assertiveness (masculine), or relationships cooperation (feminity)

Long v Short term orientation: whether the culture wants to succeed now or is worried about the best possible future

GLOBE Project

Assertiveness: extent to which society encourages toughness

Future orientation: extent to which a society encourages future planning

Gender differentiation: extent to which a society cares about gender roles

Performance orientation: extent to which society places emphasis on performance and winning

Humane orientation: extent to which a society encourages people to be fair

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Implicit Communication

people send and receive unspoken cues when speaking

High Context Culture

people are sensitive to circumstances surrounding social exchanges

Low Context Culture

communication is used primarily to exchange facts and info

people mean what they say

Cultural intelligence

ability to use reasoning and observation to interpret unfamiliar gestures and act appropriately

GATT

general agreement on tariffs and trade signed by 23 nations

EU

27 nation alliance to improve economic and social conditions

Made the euro which replaced most national currencies

Brexit: the british were mad about some bullshit and ****ed everything up fro everyone (again) 1/31/20

USMCA

US Mexico Canada

signed in late 2018

replaced NAFTA

Annual trade flows unchanged

established tougher labor and environmental standards

Ethics

code of moral principles

Codified law

literally the laws

illegal to steal from people

free choice

behavior not covered by law and for which an individual has complete freedom

ethics again i guess

the standards of conduct on what you "should" do

Business Case for ethics

studies found positive relationship between ethics and firms financial performance

Ethical Delimma

situation where right or wrong are not clearly defined and you must make a decisions

is it justified to steal bread when the baker is a giant *******?

Morale Agent

the person who must make the ethical choice in an organization

Utilitarian approach

always act the most moral because it provides the most good for the most people

individualism approach

acts are morale if they help you

Moral-Rights approach

humans have fundamental rights. that cannot be taken away by and individuals decisions

Justice Approach

moral decisions must be based on standards of equity, fairness, and impartiality

Distributive Justice

different treatment of people should not be based on arbitrary characteristics

Procedural justice

rules must be administered fairly

compensatory justice

individuals should be compensated for the cost of their injuries and the party responsible

Practical Approach

bases decisions on prevailing standards, society, and all stakeholders

acceptable by professionals

managers wouldn't hesitate to publicize

comfortable explaining to family and friends

preconventional morality (kohlberg)

Follows rules to avoid punishment, acts in self interest, obedience for its own sake

conventional morality (kohlberg)

trying to live up to the expectations of others, fulfill social duties do whats right etc.

postconventional morality (kohlberg)

follows self chosen principles of justice, acknowledge peoples other beliefs

Servant Leadership

Managers focus on needs of followers and encourage free thinking

Giving Cultures

people help eachother, more info shared, collaborations, effectiveness

Corporate Social Responsibility

obligation to make choices and take actions that contribute to welfare of society not just org

Stakeholders

any person or group within or outside and org that has an investment or interest in the orgs performance

Peter F Drucker (back to this guy)

1. eliminate any negative impact to society cause by its existence or alteast minimize

2. solve social problems by mobilizing its strengths

Green Movement

part of CSR

driving force in effort to preserve the environment

sustainability: meeting stakeholder's needs while preserving the environment

triple bottom line

3ps