MGMT 310 Fournet A

La tech mgmt 310

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

1. 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