Introduction to management

Management

The process of planning, organizing, leading, and controlling human and other resources towards the effective achievement of organizational goals.

Organization

A goal-directed, deliberately-structured group of people working together to provide specific goods and services.

Planning (Fayol)

Deciding on an organization's goals and strategies, and identifying the appropriate organizational resources that are required to achieve them.

Organizing (Fayol)

Ensuring that tasks have been assigned and a structure of organizational relationships has been created that facilitates meeting organizational goals.

Leading (Fayol)

Relating with other members in the organizational unit so that their work efforts contribute to the achievement of organizational goals.

Controlling (Fayol)

Ensuring that the actions of organizational members are consistent with its values and standards.

Entrepreneur Role (Mintzberg)

Proactively and voluntarily initiating, designing, or encouraging change and innovation.

Negotiator Role (Mintzberg)

Making incremental changes related to plans and resources.

Disseminator Role (Mintzberg)

Transmitting to members of one's organizational unit information that has been gathered from internal or external sources.

Resource Allocator Role (Mintzberg)

Distributing all types of resources (e.g., time, funds, equipment, human resources, and so on).

Liaison Role (Mintzberg)

Building and maintaining a good structure of information contacts beyond the boundaries of a manager's specific work unit.

Leader Role (Mintzberg)

Communicating with subordinates, including motivation and coaching.

Spokesperson Role (Mintzberg)

Transmitting decisions and other information up, down, and across an organization's hierarchy, and/or to the general public.

Figurehead Role (Mintzberg)

Representing an organizational unit in a symbolic or ceremonial capacity.

Monitor Role (Mintzberg)

Acquiring internal and external information about issues that can affect the organization.

Crisis Handler Role (Mintzberg)

Taking corrective action when things are not going as planned.

Financial Bottom Line (FBL) Management

An approach based on the financial bottom line that focuses on maximizing an organization's financial well-being and performance.

Consequential Utilitarian Moral Point of View (FBL)

A moral point of view where an action's rightness (and limiting its wrongness) is measured by its effect on net overall happiness for everyone involved, often measured via financial wealth created.

Invisible Hand (FBL)

The idea suggesting that the good of a community is assured when every individual is permitted to pursue their own self-interests, assuming everyone is self-interested and materialistic.

Externalities

Negative and positive effects an organization has on society but which are not reflected in the organization's financial statements.

Triple Bottom Line (TBL) Management

An approach that seeks to enhance and maximize an organization's financial well-being by reducing its negative social and ecological externalities (sustainable development).

Sustainable Development (TBL)

Meeting the needs of the present generation without compromising the ability of future generations to meet their needs, focusing on reducing negative rather than enhancing positive externalities.

Business Case (TBL)

Justifying and documenting how a proposed new organizational initiative will enhance an organization's financial well-being.

Social and Ecological Thought (SET) Management

An approach based on social and ecological thought that seeks to enhance social and ecological well-being while maintaining financial viability (does not focus on maximizing financial well-being).

Virtue Ethics Moral Point of View (SET)

A moral point of view focusing on how happiness is achieved by practicing virtues in community.

FBL Relationship of Dimensions

Views financial, social, and ecological dimensions as independent.

TBL Relationship of Dimensions

Views financial, social, and ecological dimensions as interdependent.

SET Relationship of Dimensions

Views financial, social, and ecological dimensions as dependent (financial embedded within social, which is embedded within ecological).

Entrepreneur

Someone who conceives of new or improved goods and/or services and exhibits the initiative to develop that idea by making plans and mobilizing the necessary resources to convert the idea into reality.

Top Reasons to Become an Entrepreneur

Desire for better work/autonomy (to be one's own boss), to make the world a better place (SET management), and to make money (FBL management).

Classic Entrepreneur

An entrepreneur whose launch point is starting up a new organization.

Intrapreneur

An entrepreneur whose launch point is working within an existing organization.

Micropreneur

An entrepreneur whose scope focuses on small organizations (e.g., local farm with roadside stand, neighborhood restaurant).

Growth-Oriented Entrepreneur

An entrepreneur whose scope focuses on scalable, high-growth organizations (e.g., Uber, Walmart, Amazon).

Monopreneur

An entrepreneur characterized by launching a single entrepreneurial endeavor or organization.

Serial Entrepreneur

An entrepreneur characterized by starting a variety of different organizations or projects over time (e.g., Thomas Edison, Elon Musk).