MGT-2012 Semester Final 2025

The Four (4) Functions of the Management Process

• Planning: Setting objectives

• Organizing: Arranging tasks

• Leading: Inspiring and motivating

• Controlling: Monitoring performance

Four (4) Levels of Management in Organizations

• Governing Board: Oversee legality of Executives

• Top Managers: Set overall direction

• Middle Managers: Coordinate departments.

• First Line Managers: Direct daily activities

Three (3) Types of Essential Managerial Skills

• Technical Skills: Expert in a specific area.

• Human Skills: Work well with people.

• Conceptual Skills: Ability to see the big picture.

Upside Down Pyramid of Management (Servant Leadership)

Managers exist to support employees, not command them.

SWOT Analysis (Internal vs. External)

• Internal: Strengths and Weaknesses (inside the company)

• External: Opportunities and Threats (outside the company)

Accountability and Dependency

• Accountability: Managers must take responsibility.

• Dependency: Managers depend on team members performance to achieve goals.

“Business” - Definition and Goal

• Definition: An organization that provides goods or services for profit.

• Primary Goal: Deliver value to customers while earning a profit.

“Management” - Definition

Coordinating people and resources to achieve organizational goals efficiently and effectively.

Business Systems/Tools in a Traditional Company

ERP systems, CRM systems, data analytics, performance management tools.

The Three (3) Pillars of Management

• Strategy: Choosing where and how to compete.

• Execution: Getting things done efficiently.

• Culture: Creating shared values.

Three (3) Questions Associated with the Pillars of Management

• Where are we going? (Strategy)

• How will we get there? (Execution)

• What is it like to work here? (Culture)

Combinations of the Pillars of Management - Scale/Efficiency

• Strategy + Execution = Scale/Efficiency

Combinations of the Pillars of Management - Innovation

Strategy + Culture = Innovation

Combinations of the Pillars of Management - Automation

• Execution + Culture = Automation

Historical Period Leading to Business Management

The Industrial Revolution

The Enemy of Great

Good

The "Crucial Question" in the Good to Great Study

"What separates good companies from great companies?"

Minimum Time Frame for "Great" Performance

15 Years

Six (6) Concepts of the Good to Great Framework

• Level 5 Leadership

• First Who, Then What

• Confront the Brutal Facts

• The Hedgehog Concept

• Culture of Discipline

• Technology

Management Learning - Taylor

Develop a "science" for each job, select workers and train properly.

Management Learning - Fayol

Five duties of managers: Foresight, Organization, Command, Coordination, Control.

Management Learning - Hawthorne Studies

People perform better when cared for (Hawthorne Effect).

Management Learning - Mary Parker Follett

Collaboration > Hierarchy

Management Learning - Contingency Thinking

No one-size-fits-all

Tools of Modern Management - Management Science

Applying math to solve problems

Tools of Modern Management - Operations Research

Optimizing complex operations

Tools of Modern Management - Data Analytics

Using data to guide decisions

Tools of Modern Management - Quantitative Analysis

Making decisions based on numerical data