CSULB: Management 300 Exam 3 Kenji Klein

Management

Management is the process of planning, organizing, leading, and controlling (POLC) resources to achieve organizational goals efficiently and effectively.

POLC Framework

Planning, Organizing, Leading, Controlling

Planning

Setting objectives and deciding in advance the appropriate actions to achieve them.

Organizing

Arranging resources and tasks to implement plans.

Leading

Motivating, directing, and otherwise influencing people to work hard to achieve the organization's goals.

Controlling

Monitoring and evaluating the progress toward goal attainment and making corrections when needed.

Efficiency

Doing things right—minimizing resource use. Using resources well: time, money, effort.

Effectiveness

achieving the intended goal—like satisfied customers.

Management Skills

Technical, Human/Interpersonal, Conceptual

Technical Skills

Expertise in a specific task.

Human/Interpersonal Skills

Ability to work with others.

Conceptual Skills

Ability to think analytically and solve complex problems.

Types of Managers

Functional, General, Top, Middle

Functional Manager

Responsible for one area (e.g., finance, marketing).

General Manager

Responsible for multiple departments.

Top Manager

Makes strategic decisions (CEO, President).

Middle Manager

Translates strategy into action (Director, Regional Manager).

Important

feel pressing and require immediate attention (emails, calls, complaints)

Urgent

Requires immediate attention.

Urgent + Important

Crisis, deadlines, problems

Urgent + Not Important

Interruptions, calls, emails

Not Urgent + Important

Long-term planning, strategy, skill development

Not Urgent + Not Important

Time wasters, social media, busy work with no value

Nature of Boss-Subordinate Relationship

It's a mutual dependence between two fallible human beings.

Checklist for Managing Your Boss

Make sure you undertsand your boss and his or her context, including

Goals and objectives, Pressures, Strengths-Weakness and blind spots, Preferred work style

Assess yourself and your needs, including

Strength and weaknesses, Personal style, Predisposition toward dependence on authority figures

Develop and maintain a relationship that

Fits both your needs and styles, Is characterized by mutual expectations, Keeps your boss informed, Is based on dependability and honesty, Selectively uses your boss's time and resources

Mutual Dependence

means that two people (in this case, a manager and their boss) rely on each other to succeed. Neither person can fully accomplish their goals without the help, cooperation, and support of the other.

Work Style Compatibility

refers to how well your way of working aligns with your boss's preferred way of processing information, making decisions, and interacting. According to Gabarro & Kotter in Managing Your Boss, understanding and adapting to your boss's work style is essential for a productive relationship.

Mutual Expectations

Don't assume you know what your boss expects—ask and clarify. Some bosses want detailed outlines before action; others prefer quick verbal check-ins. Communicate your own expectations, too. For example, if you need regular feedback or clear deadlines, bring that up early. Negotiate where needed: If your expectations don't align, work to find an agreement that works for both sides.

Goals

Desired outcomes.

Plans

Blueprints for reaching goals.

Types of Planning

Strategic & Operational

Strategic Plans

Long-term and broad.

Operational Plans

Short-term and specific.

Organizational Planning Process

1.Develop the plan, 2.Translate the plan, 3.Plan operations, 4.Execute the plan, 5.Monitor and learn.

Benefits of planning

Provides direction, reduces uncertainty, sets standards.

Limitations of planning

Can reduce flexibility, hinder creativity, create false sense of certainty.

Contingency Planning

Prepares for unexpected events.

Scenario Planning

Envisions future scenarios and plans for each.

Crisis Prevention

Reduce risk.

Crisis Preparation

Develop response strategies.

Effective Goal Criteria

Effective goals --> Are specific and measurable, Have a defined time period, Cover key result areas, are challenging but realistic, are linked to rewards

S.M.A.R.T

Specific, Measurable, Attainable, Relevant, Time-bound.

Stretch Goals

Ambitious goals that challenge and inspire but may not be immediately attainable.

Competitive Advantage

What sets the organization apart in providing value to customers.

Core Competence

Unique ability that gives the company a competitive edge.

Levels of Strategy

Corporate, Business and Functional Levels

Corporate-Level

Overall organizational direction.

Business-Level

Competitive positioning within a market.

Functional-Level

Specific functions like marketing, operations.

SWOT Analysis

Strengths, Weaknesses, Opportunities, Threats.

Strategic Business Unit (SBU)

Independent unit within an organization with its own strategy.

Diversification

Related & Unrelated

Related

Expanding into similar markets/products.

Unrelated

Expanding into completely different industries.

Vertical Integration

Acquiring suppliers (backward) or distributors (forward).

Porter's Five Forces + Complements

1.Threat of new entrants, 2.Bargaining power of suppliers, 3.Bargaining power of buyers, 4.Threat of substitute products, 5.Rivalry among competitors, 6.Complements

Threat of new entrants

The risk that new competitors will enter the market.

Bargaining power of suppliers

The ability of suppliers to drive up the prices of inputs.

Bargaining power of buyers

The ability of customers to influence pricing and terms.

Threat of substitute products

The risk that customers switch to different products that fulfill the same need.

Rivalry among competitors

The intensity of competition among existing firms.

Complements

Companies that sell products or services that enhance the value of your product.

Generic Strategies

Differentiation & Cost Leadership

Differentiation Strategy

Competing by offering unique and valuable products or services that customers perceive as better or different from the competition. Unique value.

Cost Leadership Strategy

Competing by becoming the lowest-cost producer in the industry, allowing the company to offer lower prices or enjoy higher profit margins. Lowest cost.

Organizational Structure

The formal system that defines how tasks are divided, grouped, and coordinated in an organization. It's how work gets done and how people and departments are connected.

Organization Chart

A visual representation of an organization's structure. Shows hierarchy, reporting relationships, lines of authority, and departmental groupings.

Specialization

The degree to which tasks are broken into separate jobs. Pros- Efficiency and expertise. Cons - Boredom, lack of flexibility.

Chain of Command

The unbroken line of authority from the top to the bottom of the organization. Defines who reports to whom.

Unity of Command

Each employee should report to only one manager. Prevents confusion and conflict in decision-making.

Authority

Legitimate right to make decisions and direct others.

Power

The ability to influence others (can be formal or informal).

Delegation

The process by which a manager assigns tasks and authority to subordinates. Effective delegation includes responsibility, authority, and accountability.

Reporting Relationship

Defines who is responsible for supervising whom. Important for clarity and control.

Vertical Linkages

Relationships up and down the chain of command. Used for control, decision-making, and communication.

Horizontal Linkages

Coordination across departments or functions. Important for integration and innovation.

Line

Directly involved in core business operations (e.g., sales, production).

Staff

Support roles (e.g., HR, legal, IT).

Tall Structure

Many levels of hierarchy → more control, but slower decision-making.

Flat Structure

Few levels → more autonomy and faster communication.

Centralization

Decisions made at the top. Use when consistency, control, or efficiency is key.

Decentralization

Decisions made at lower levels. Use when flexibility, speed, and responsiveness are needed.

Functional Structure

Groups people by functions (e.g., marketing, finance, operations). Pros- Efficiency, specialization. Cons- Poor cross-department coordination.

Divisional Structure

Groups people by product, geography, or customer type. Pros - Focus on specific markets/products. Cons - Duplication of resources.

Matrix Structure

Combines functional and divisional structures. Employees report to two bosses: one functional and one project/product. Pros- Better coordination across projects. Cons- Confusion/conflict from dual reporting.

Task Force

A temporary, cross-functional team created to solve a specific problem or complete a project. Encourages innovation and speed.

Service Technology

Processes with intangible output and high customer contact. Describes the nature of work in service organizations- High customer contact, Labor-intensive, Harder to standardize, Structure needs to be flexible and decentralized.