Studied by 4 people
The definition of management
getting work done through others
Four Functions of Management
planning, organizing, leading, controlling
Three reasons why being a manger is hard
Longer feedback loop, lonely at top, others want job, buck stops with you
What is competitive advantage through people
Companies that invest in people will create long lasting advantages. Better job performance, stronger commitment, lower turnover
Liaison
Maintains a network of outside contacts who provide favors and information. (Ex. HR manager attends monthly HR association meetings.
Figurehead
Performs symbolic duties on behalf of the org. Like greeting important visitors and attending social events. (Ex. The president of a college presides over graduation
spokesperson
communicating on behalf of the organization about plans, policies, actions, and results. (Ex. PR person issues a new release about expansion plans
Negotiator
engages in negotiations with parties inside and outside of the org. (Ex. An account executive negotiates the price of an advertising campaign with a team from large client)
disturbance handler
Responsible for corrective action when organization faces important, unexpected disturbances. (Ex. Owner of an amusement park implements new safety protocol after injuries)
Four managerial levels
Top, Middle, Front-line, and Team Leader
Top Managers
Handle resource allocation and are institutional leaders. Establishing standards and creating overarching goals and purpose
Middle managers
implement the policies and plans of the top managers above them and supervise and coordinate the activities of the first-line managers below them. (a go between from top and frontline managers)
Front-line managers
lower-level managers who supervise the operational activities of the organization
Team Leaders
Facilitate team activities toward accomplishing a goal, help team members plan and schedule work to solve problems and work with each other, manage internal and external relationships
Technical skills
The ability to perform a specialized task that involves certain methods or processes. Managers with technical skills will earn more respect from subordinates
Conceptual skills
The ability to identify and resolve problems for the benefit of the org
interpersonal skills
the ability to deal effectively with other people
Benefits of a more diverse workplace
Diverse employees will have a wide range of skills and a manager will need to know how to manage such a wide diversity
Innovation as a source of competitive advantage
Innovation is the introduction of new goods and services. You must know how to properly deliver the new products. Innovation comes from people
Division of labor
Tasks and authority are clearly specified
Authority
There is a clear chain of command
Qualifications
People are hired and promoted based on merit
Ownership
Managers, not owners should run the org
Rules
Impersonal rules should be applied consistently and fairly
One finding of the Hawthorne studies
Productivity may be more affected by social factors than physical or objective influences
What is an economy of scale
The cost per unit decreases as the units produced increases
Goal of Scientific Management
To increase widespread efficiency. Find the best way to complete a task
Work before scientific management
Managers had no systems or processes to standardize behavior, employees did work how they wanted, no incentives
What does the Gannt chart do?
It visually indicates that tasks must be completed at which times in order to complete a project
chain of command
the line of authority that moves from the top of a hierarchy to the lowest level
Division of labor
Tasks are spilt up and clearly specified
esprit de corps
promote a unity of interests between employees and management
Equity
Fair discipline and order
Centralization
determine the relative importance of superior and subordinate roles
Lillian Gilbreth's contributions to workplace safety and child labor
She convinced gov to enact laws regarding workplace saftey and child labor, focused on more human side of management, believed job satisfaction could increase productivity
What did a time and motion study do
Breaking each movement down to a specific time and action so that waste could be removed
The tenets of Human relations
-Human relations proponents argued that managers should stress primarily employee welfare, motivation, and communication-Social needs have precedence over economic needs-Management must gain the cooperation of the group and promote job satisfaction and group norms consistent with the goals of the organization
contingency perspective
There is not one best way to manage. Situations will determine the best structures
What is an open system
Orgs. that are affected by and affect their external environment, Use inputs from the environment to create goods. (Ex, Google)
What characteristics create an attractive competitive environment
Few competitors, high industry growth. Many barriers to entry but low threat. Few substitutes. Many suppliers with low bargaining power. Many customers with low bargaining power
What is environmental dynamism
The degree of discontinuous change that occurs within an industry (Ex, Tech companies have high levels of dynamism because things are always being innovated and changed)
What is environmental complexity
the number and the intensity of external factors in the environment that affect organizations (Ex. Car industry is more complex than airplane production. There are tons of car dealers doing new and different things and only a few airplane makers)
How do environmental complexity and dynamism create uncertainty
They both create a situation where mgmt. may not have enough information to know what's coming next
5 examples of macroeconomic environmental factors
Laws and regulations, economy, tech, demographics, social values
Know that macroenvironment affects all organizations regardless of industry, but competitive environment affects just the industry
What is a barrier to entry
Conditions that prevent new companies from entering a market
What is environment scanning
Searching for and sorting through information about the environment
What is benchmarking
The process of comparing an orgs. Practices and technology with those of other companies
Examples of buffering and smoothing
Buffering: ATNT store buying lots of Iphones before new phone drop Smoothing: Clothing stores cutting prices on out of season clothing to make room for new product
Competitive Aggression
Exploring a distinctive competence or improving internal efficiency
Competitive pacification
Independent actions to improve relations with competitors, hoping for the same in return
What is domain selection
Entering a new market or industry with existing expertise
What is cooptation
Absorbing new elements in the leadership structure to avert threats
Prospector
Continuously changing the boundaries for their environments by seeking new products and markets (Ex. Apple and Microsoft)
Defender
Staying within a stable product domain as a strategic maneuver
Organizational culture
the set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization
What is a strong culture
a culture in which the core values are intensely held and widely shared
visible artifacts
visible signs of an organization's culture, such as the office design and layout, company dress code, and company benefits and perks, like stock options, personal parking spaces, or the private company dining room
Values
The underlying qualities and behaviors that are important, can't be observed directly
Unconscious assumptions
the strongly held and taken-for-granted beliefs that guide behavior in the firm (Ex. We must be profitable
Clan Culture
(Ex. Historical brewery) Internally oriented and flexible, directives flow from trust and tradition. Emphasizes member development
Hierarchal culture
(Ex. The army) Internally oriented and focused on control and stability
market culture
(Ex. Oil company) Primary objectives are productivity and efficiency. Motivated by performance
Adhocracy Culture
(Ex. Google) Emphasizes growth and change and innovation. Motivated by the ideological appeal of the work
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