Management is the process of coordinating businesses resources to achieve the goals of the business.
A manager is someone who coordinates the business's limited resources in order to achieve the business's specific goals.
Effectiveness measures the degree to which a goal has been achieved
Efficiency weighs the resources needed to achieve a goal against what was actually achieved.
Main management functions
Interpersonal roles is one in which the manager deals with people.
Informational role is one in which the manager gathers and disseminates information within the business.
A decision-making role involves solving problems and making choices.
Skills of management
People skills - are those skills needed to work and communicate with other people and to understand their needs
Strategic thinking - allows a manager to see the business as a whole
Vision skills - is the clear, shared sense of direction which allows people to attain a common goal
Flexibility and adaptability to change skills
Self-managing skills - involves adopting to techniques that allow people to manage their own behavior so that less outside control in necessary.
Teamwork skills - is the interaction of individuals within teams and groups
Responsibilities of management to stakeholders
Compliance with the law
Codes of practice
Reconciling conflicts of interest
Is the perspective on management that emphasizes on how best to manage and organize work efficiently to improve productivity without taking into consideration the effect that it has on employees
Hierarchical organizational structure
Clear lines of communication
Jobs broken into simple tasks
Rules and procedures
Formal record keeping
Is the approach that studies a job in great detail to discover the best way to perform it.
Determine the most efficient way of doing it
Select suitable workers
Cooperate with workers
Management as planning
Management as organizing
Management as controlling
Characterized by human relations, the idea that higher morale would lead to greater productivity. The needs of the workers are addressed rather then just the needs of the business.
Management as leading
A good leader is someone who:
Listens to opinions/ideas
Conveys goals to workers
Avoids the use of 'jargon'
Management as motivating
Managers motivate workers by:
Management as communicating
Effective communication will allow managers to share thoughts and plans which will help to motivate employees.
Flat organization structure - will involve reduced layers of management, wider span of control, greater responsibility.
Teams involve people working together as a whole.
Is the use or power, which is sometimes gained unethically to influence others.
Sources of power:
Legitimate - status
Expert - expertise
Referent - personality
Reward - monetary/non-monetary rewards
Coercive - punishment
Views the organization as an integrated process where all the individual parts contribute to the whole.
The manager uses their past experience to determine what is best for the business.
Change is any alteration in the business environment.
Sources of change in business:
Changing nature of markets
Structural response to change
Flatter organizational structures
Development of strategic alliances
Reasons for resistance to change:
In mergers and takeovers
How to manage change effectively
Identify need for change, profit and loss statement and balance sheet
Setting achievable goals
Creating culture for change
Driving forces - those factors which initiate and support change
Restraining forces - those forces which act against change
Unfreeze - prepare for change
Change - the change begins
Refreeze - the change is reinforced.
Change and social responsibility
- Ecological sustainability
- Quality of working life
- Globalization and cultural diversity