management

Major challenges of managing today

Innovatie en technologie

Globalisatie

Generatieverschillen

Kennis en ideeen

Samenwerken over grenzen

Sources of conmpetitive advantage

Duurzaamheid

Kosten

Snelheid

Service

Kwaliteit

Innovatie

Evolving functions of Management

effectief en efficient

Planning

Organizing

Control

Leading

Managing at different organizational levels

Top management - strategie en visie

Midden management - tactiek en plannen

front line management - dagelijkse uitvoering

team lead - team en operationele prestaties

Skills for effective management

Hard skills - kennis over de werkzaamheden

Soft skills - communiceren, empathie, luisteren

Delegeren

Multitasken

Time management

Influence environmental forces & organization

Input: geld, mensen, materialen

Output: services en producten

invloed:

verandert de omgeving moet de organisatie aanpassen

verandert de output wordt de markt beinvloed

Macro-environment vs competitive environment

Macro: indirecte dingen waar je geen invloed op hebt (economie, technologie, sociaal, wetgeving)

competitive: Porter

Klanten

Subsistuten

leverancier

directe competitor

nieuwe toetreders

Why economic & social developments matter

economische verandering: invloed koopkracht,kosten

sociale ontwikkeling: veranderende klantenvoorkeuren, demografie

elements competitive environment

Porter

threat new entrants

Substitutes

Customers

Suppliers

Existing companies

Responding to environmental uncertanty

= omgeving verandert onvoorspelbaar

flexibele structuur

betere informatie

samenwerking partners

sneller aanpassen

Elements of Organizational Culture

gedeelde normen en waarden

the way we do things around here

niet direct zichtbaar

ontstaan over tijd

Culture, climate & response to environment

Hoe snel een organisatie reageert en openstaat voor verandering

sterke adaptieve cultuur: reageert snel

Starre cultuur: reageert langzaam

why become entrepeneur & what does it take

Push factor: Noodzaak

gebrek aan werk

economische reden

vaak bij vrouwen

Pull factor:

onafhankelijkheid

macht en status

nieuwe product maken

nodig:

Doorzettingvermorgen

mindset en motivatie

stressbestendig

How to asses opportunities

goed idee, goede markt, juiste timing

komt door ontwikkelingen (technisch, demografisch, economisch, calamiteiten, regelgeving)

vormen:

Start-up - snelle groei en schaal

New business - stabiliteit

Franchise - bewezen concept

Social entrepreneur - maatschappelijke impact + winst

Causes success & failure

succes:

winst, impact, groei, persoonlijke voldoening

falen:

slecht management, geen delegatie, fouten in financien, geen vraag, veel concurrentie

Common management challenges

geen delegatie, slecht gebruik geld, burn-out, afhankelijk van 1 product

Intrapreneurship

ondernemerschap in groot bedrijf

1. Skunkwork:

klein team, specifiek innovatief project, tijdelijk

2. bootlegging

informele projecten door werknemers

risico: te veel focus 1 project

Types of proccesses that spur development of new technologies

1. Need or demand

2. Feasibility (haalbaar)

3. Practicality

4. Resource Availability

5. Entrepreneurialism

Technologies through a life cycle

Technology adaption curve

Innovators (eerste, nemen risico)

Early adopters (visionairs)

= early market

early majority (praktische gebruikers)

late majority (sceptisch, prijsgevoelig)

= Mainstream marken

Laggards (laatste, oude manieren)

S-Curve (langzaam, snel, langzaam)

Manage technology for competitive advantage

Helpt sneller werken, goedkope producten, betere kwaliteit

wel veel concurentie en snelle veranderingen

How to assess technology needs

Door te vragen:

wie zijn de users, waarom kopen ze het, waarom betalen ze ervoor

real value to real users

Methods of persuing technological innovation

1. Own Research & Development

2. Collaboration

3. Buying technology

4. Acquisition (bedrijven kopen)

5. Open innovtion

Key roles in managing technology

1. innovators

2. entrepreneurs

3. managers

4. engineers

5. Marketing

6. Investors

Characteristics of innovative organisations

Open cultuur

Risk taking

Flexibility

Teamwork

Learning orientation

Customer orientation

characteristics of successfull development projects

clear goals

good leadership

market knowledge

good timing

sufficient resources

good collaboration

speed

Decisions you will face as a manager

Managerial Decision Making

Risk (kans verlies of mislukking)

Uncertainty (hebben niet alle info)

Lack of structure (veel is nieuw)

Conflict

(non)- programmed decisions

Steps rational decisions

1. identify the problem

2. generate alternative solutions

3. evaluate alternatives

4. make the choice (maximazing, satisficing,optimazing)

5. implement decision

6. evaluate decision

Pitfalls during decision making

Cognitive Biases

Heuristics (mentale shortcuts)

Confirmation Bias (bevestigt eigen mening)

Herd Behavior

Information Avoidance Bias (info die ze niet willen horen)

Pro's and cons of using a group for decisions

Pros:

meer info

verschillende perspectieve

meer creativiteit

cons:

dominante kan groep beinvloeden

kost meer tijd

Groupthink: onenigheden vermijden om het gezellig te houden

leading a decision making group

Niet domineren, stille leden laten praten

Devils advocate (ideeen bekritiseren)

Dialectic (debat twee ideeen)

Encourage creative decisions

Plussing

doorvragen om te stimuleren

process organizational decision making

incremental model (grote oplossingen ontstaan door kleine stappen)

Coaltional Model

Garbage can model

Decision making in a crisis

Snel handelen

mensen veilig houden

duidelijke communicatie

What does it mean to be a leader

Iemand die andere beinvloed om goals te bereiken

challenge the process

inspire a shared vision

enable others to act

model the way

encourage the heart

what people want and what organizations need from their leaders

Supervisory leadership

strategic leadership

good followers

How a good vision helps you be a better leader

beeld van mogelijk en gewenste toekomst

Geeft een richting

motiveert mensen

commitment

stimuleert verandering

Sources of power in organizations

Legitimate power (positie/functie)

Reward power

Coercive power (straffen)

Referent power (respect)

Expert power

personal characteristics for leader effectiveness

intellegentie, dominatie, zelfvertrouwen, energie, kennis

gedreven, motivatie

leadership behaviors & styles

task performance, group maintenance, employee participation

autocratic, democratic, laissez-faire, path goal, vroom model

difference charismatic and transformational leadership

C: sterke persoonlijke aantrekkingskracht

inspireren, creeeren excitement

T: motiveren mensen om aan de groep te werken

Gebaseerd op rewards en punishments

the basic steps of planning proces

situational analysis

alternative goals and plans

goal and plan evaluation

goal and plan selection

implementing

monitoring and controlling

How to integrate strategic planning with tactical and operational planning

Strategic - top level, long term

Tactical - mid level, translates strategic to departments

Operational - low level, daily activities

identify elements of external invironment and internal resources to analyze for a strategy

External: markt/industry, technology, economic, political, stakeholders, competitor

Internal: Finance, marketing, hr, production

wordt vaak een swot- analyse

Core capabilities and how they provide the base for a business strategy

Recources: middelen

Core capabilities: Things your company does very well, better than competitors

Defines where your competitive advantage comes from

vb: disney - storytelling

apple - design

types of choices available for corporate strategy

BCG Matrix

Start: Hoge groei + sterke marktaandeel (apple)

Cash cows: lage groei + sterke ma (coca cola)

Question marks: hoge groei + lage ma (nieuwe ai)

Dogs: lage groei + lage ma (oude technologie)

how to achieve competitive advantage through business strategy

1. Low cost strategy: efficient mogelijk, lagere prijzen dan concurrenten

2. differention strategy: uniek product of service, klanten betalen meer voor extra waarde

Describe the keys to effective strategy implementation

duidelijk taken en doelen, goede communicatie, samenwerking tussen afdeling, controle

Probleem: slechte communicatie, onduidelijke strategie, gebrek aan samenwerking

what integration of global economy means for companies and their managers

Meer international trade (handel)

Meer Foreign direct investment (FDI) = investeren in een bedrijf in een ander land

bedrijven: concurreert wereldwijd, kansen zoeken in andere landen, rekening houden internationale factoren

managers: internationale begrijpen, omgaan buitenlandse concurrenten

Describe how the world economy is becoming more integrated than before

growth international trade

import and export grow

more investments between countries

WTO (world trade organization)

Define the strategies organizations use to complete in global marketplace

Pressures for global integration:

Low costs, standardization world wide, efficiency

Pressures for local responsiveness:

Different cultures, different customer needs, local rules

1. international model - headquarters decides

2. multinational model - countries have freedom

3. global model - centralisation + low costs

4. transnational model - combination of both

compare entry modes organizations use to enter overseas markets

Exporting: low investment, high transport costs

Licensing/franchising: others can use your product, less risk, less control

Joint venture: working with local partner, sharing risk and knowledge

Wholly owned subsidiary: own investment abroad, a lot of control, expensive and a lot of risk

explain how companies can staff overseas operations

Expat - employees from motherland

Host country nationals - local employees

Third country nationals - people from different country

Inpat - abroad employees in HQ

Skills and knowledge managers need to manage globally

Flexibility, communication, problem solving, diplomatics, cultural empathie

Ways in which cultural differences influence management

Ethnocentrism: own culture is the best

Culture shock

Hofstedes cultural dimensions:

power distance - hierarchie

individualism vs collectivism

uncertainty avoidance

Masculinity vs femininity

explain how differentiation and integration influence an organizations structue

Differentiation: task get devided

Integration: all seperate tasks need to work together

summarize how authority operates

Authority: who has the power

Hierarchy: layers within a company

Define the roles of the board of directors and the CEO

BOD:

controles CEO, decides strategy, makes sure company works ethic and legal

CEO:

Highest manager, responsible for prestaties, leads the company

Discuss how span of control affects structure and managerial effectiveness

span of control: aantal employees per manager

Narrow span: little employees, a lot of layers (tall structure) - inefficient, to many managers

Wide span: a lot of employees, less layers (flat structure) - managers less controle

How to delegate effectively

you need to give out not only tasks (responsibility) but also,

Authority and Accountability

Summarize ways organization can be structured

Functional structure: indeling per functie (Marketing, HR)

Divisional structure: indeling per product, customer, region

network organization: work with external partners, flexibal

identify unique challenge of matrix organization

Matrix: employees has 2 managers

unclear responsibility

conflict between managers

Schendt Unity of command: verwarring, less clear, change of frustration

Describe important integrative mechanisms

Standardization - vaste regels

Formalization - clear rules

Coordination methods - plannen, direct contacts managers, task forces