COB 300: Management

Management

 the process of using organizational resources efficiently and effectively to achieve organization objectives through planning, organization, leading, and controlling

effectiveness

 the degree to which the organization achieves a stated goal. Providing a product or service that customers value; producting a desired effect

efficiency

 the use of minimal resources- raw material, money and people to produce a desired volume of output

maangers need to focus on

efficiency and effectiveness

management functions

planning, organizing, leading, controlling

planning

the central function of management involves setting goals and figuring out ways to reach them

what does planning require

conceptual skills and insight into the future

oprganizing

the process of assigning the necessary resources to implement the plan and to achieve the organizations goals

what does organizing involve

assigning and dividing work and authority

leading

influencing others to achieve organizational objectives

leading includes

communicating assignments, inspiring change, setting an example

controlling

involves comparing actual performance outcomes to a predetermined standard

controlling includes

monitoring employee performance, analyzing production errors

managerial levels

top level managers, middle level managers, front line managers, individual workers

top level managers

responsible for making major decisions, providing the organization with a clear direction, and planning strategically to reach organizational goals.

middle level managers

responsible for coordinating activities within the firm. Their breath of responsibility and income varies greatly.

front line managers

responsible for coordinating activities within the firm. Their breadth of responsibility and income varies greatly

fellers diamond

A technical core with experts within the company, that group has key knowledge and information of all factors going to the product 

positions within feller’s diamond

management, admin support, temporary seasonal, retired expert

line positions

positions that directly contribute to profitability; someone who makes or sells the products

staff positions

someone who does not contribute to profitiability or generating revenue but provide essential support positions

systems

elements that acquires inputs from the environment, transforms them, and then discharges outputs to the external environment 

open system

gets resources from the outside, produces a product or service, and distributes to others outside the entity

closed system

obtains resources from within, products/services are for self use, does not distribute but consumes the production

types of organizations

for profit, non-profit, mutual benefit, benefit corporations

for profit organization

to make money, includes start-ups, multinational, and growth companies

non-profit

provides services

mutual benefit

assisting members; student organizations

benefit corporations

reserve some profit for charitable work (they can be small, medium, large)

entreprenuer

the proccess of taking risks to try and create a new enterprise

intraprenuer

works inside an existing organization

characteristics of successful managers

technical skills, conceptual skills, human/relational skills

technical skills

ability to perform a specific job

conceptual skills

ability to think analytically

human/relational skills

ability to work with others

triple bottom line

people, profit, planet

traits of a manager

rational, analytical, deliberate, stabilizing

traits of a leader

visionary, passionate, caring, inspiring

leader definition

the ability to influence employees to voluntarily pursue organizational gains

organizational powers

legitimate, reward, coercive

legitimate power

formal, authentic power tied to a position within an organization

reward power

power to control valuable and desired rewards such as bonuses

coercive power

power to control punishments such as demotions and termination

personal powers

expert, referent, subordinate

expert power

percieved power that comes from job-related knowledge and skills

referent power

ability to control based on loyalty given to a leader

subordinate power

legal and just control exerted upward within an oprganization

power is

the potential to influence others’ behavior

the zone of non-compliance

behaviors within the psychological zone that are viewed as being unacceptable even though requested by a supervisor resulting in non-compliance

the zone of indifference

behaviors that employees will perform; the psychological zone that encompasses acceptable behaviors requested by a superior that employees will follow

behaviors of effective leaders

demand high standards of performance, strong customer orientation, adapt, provide, give feedback, provide stable performance, recover, servant leader

approaches to the study of leadership

traits, behaviors, contingency

early leadership focuses on which traits

self-confidence, internal locus of control, openness

leadership traits

self-confidence, internal locus of control, openness, Machiavelianism, introverted

people oriented leaders

strong leadership in facing unclear future, high turnover, weak leaders, distrust; talk through things

production oriented leaders

need solutions quick, very positive/negative situations; they get things done

studies done on leadership behavior

employee-oriented vs production oriented, consideration vs. initiating structure, concern for people vs. concern for production

fielders contingency theory

leader-member relation, task structure, position power

leader-member relation

how well the leaders and members get along with each other

task structure

formalized jobs and procedures

position power

the influence the leader have over activities

fielders contingency theory

a persons motivational structure determines their leadership styles and it is determined by the situation

path goal theory

leaders provide the tools to help remove obstacles and achieve goals

path goal theory behavior styles

authoritarian, consultative, consensus, democratic, democratic majority, laissez-faire

leadership styles of path-goal theory

directive, supportive, participative, achievment-oriented

situational leadership

task behavior, relationship behavior, readiness

task behavior

the extent to which a leader defines tasks and and responsibilities

relationship behavior

the extent to which a leader communicates to others

readiness

the extent to which a group member has the ability and willingness to accomplish the task

qualities of transformational/charismatic leaders

posses a vision, inspire trust, help group members feel capable, masterful communications, energy and action oriented, provide inspiration

transformational leaders

helps organizations and leaders make positive changes; they move the company forward

charismatic leadership

influences others based on personal charm, inspiration, magnetism, emotion

barriers to change

excessive focus on costs, failure to perceive benefits, lack of coordination/cooperation, uncertainty avoidance, fear of loss