MAN 3025 - Module 1 Notes

Management

(1) the pursuit of organizational goals efficiently & effectively (2) working through people (3) planning, organizing, leading, and controlling resources

Efficiently 

the means to use resources wisely

Effectively

to achieve results for an organzation

4 Management Functions (POLC)

Planning - setting goals and deciding how to achieve them

Organizing - arranging tasks, people, and other resources to accomplish the work

Leading - motivating & directing people

Controlling - monitoring performance and taking corrective action

Levels of Management

Top → Middle → First-line → Team leaders → Nonmangerial Employees

Top Managers

make long-term decisions, establish policies, and strategiesM

Middle Managers 

implement policies from top managers and supervise activities of the first-line managers

First-Line Managers

make short-term operating decisions

Team Leaders

make sure that their team has everything they need to be successful

Nonmangerial Employees

work either alone or tasks with others

Functional vs. General Managers

Functional - responsible for one organizational activity 

General - responsible for several organizational activites

3 Types of Organizations

For Profit - for making money

Nonprofit - for offering services/ ex. hospitals

Mutual-Benefit - for aiding members

3 Types of Managerial Roles

Interpersonal Roles - interact with people inside and outside their work unit

Informational Roles - handling accurate information to make good decisions

Decisional Roles - make decisions to solve problems

Technical Skills

having a job specific knowledge

Conceptual Skills

ability to think analytically

Human Skills 

ability to work well in teams

• Soft Skills = people skills

Competitive Advantage

the ability to produce goods or services more effectively than competitors do

Core Competencies

a set of competencies that are vital across careers 

1. Knowledge

2. Soft Skills

3. Attitudes 

4. Other Characteristics

   1. Resilience = the ability to bounce back from adversity and to sustain yourself during a challenge