Business - management and change
HSC Topic 1: Business Management and Change
1.Interpersonal role: Role relating to people inside and outside the organization. Managers must communicate with the people around them. Negotiating and compromising with all stakeholders.
2.Informational role: Access to info. Through setting up a MIS (Management Info. System). Organize the info and pass it on to the relevant people. Act as a spokesman to the public.
3.Decisional role: choices have to be made by managers. They act as disturbance handlers, negotiators and resource allocationers.
Skills of management:
People skills: the ability to communicate, negotiate, lead and delegate.
They must have good listening skills, provide feedback, disciplinary skills.
Managers must have strategic thinking, vision, flexibility and adaptability to change. Must be self-managing, teamwork, high personal standards and ethical.
Responsibility to Stakeholders:
*Keep them informed
*Provide safe working environment
*Abide by the laws
*Use Australian products/services
*Employ Australian citizens.
*Provide safe product/service
*Pay on time
*Notify if you cant pay them
*Abide by terms and conditions
*Be responsible in using resources - future generations
Reconciling conflicts of interest
Conflicts exist between stakeholder and resolutions must be negotiated by management
1.Employee vs Shareholders:
Shareholders want increasing profit but employees want increasing wages
Resolution: negotiate wages. Give the employees the option of becoming shareholders.
2. Environment vs profit:
Being environmentally responsible costs money
Resolution: Recycle. Use it as a marketing strategy.
*Hierarchical - pyramid
*Division of labour
*Focus on planning, organizing and controlling
*From top down communication
Increased productivityBoredom resulting from production line approach
Emphasis on promoting efficiency and waist productionNeglects the...
Essay on "The work and skills of managers are the same irrespective of the level of their position within the organisation." Discuss.
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... the skill of management and leading people vital for MBA students? * Understanding Managing and ...
... their Organization. The company structure, roles and responsibility, functions of management, organizational culture and differentiate between management and leadership will be explained to provide an understanding of how management style ...
... organization in order to achieve its goals. In this paper I will show the difference between management and leadership, examine the role and responsibilities of leaders in creating and maintaining a healthy organizational culture, show how the four functions of management ...
... oversees managers should provide them with the right viewpoint. This will ensure effectiveness and efficiency in their roles as managers. Company boards of directors have a combination of management and leadership skills that are vital in running a rewarding business. Both ...
... Three informational roles stem form the interpersonal roles. Mintzberg claims that "(a manager) may not know everything but he typically knows more than any member of his staff". This emphasises the importance of knowledge in an ever-evolving business environment ...