Management is the process of coordinating businesses resources to achieve the goals of the business.
Human resources
Information resources
Physical resources
Financial resources
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
Planning
Organizing
Leading
Co-coordinating
Controlling
Managerial Roles
Figure head
Leader
Liaison
Monitor
Disseminator
Spokesperson
Entrepreneur
Disturbance handler
Resource Allocator
Negotiator
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
Problem solving
Decision making
Responsibilities of management to stakeholders
Managing change
Social justice
Ecological sustainability
Compliance with the law
Codes of practice
Reconciling conflicts of interest
Management theories
Classical management
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
Impersonal education
Formal record keeping
Scientific management
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
Divide work
Management as planning
Management as organizing
Management as controlling
Establish standards
Measure performance
Making changes
Leadership styles
Autocratic
Democratic
Collegial
Liaissez-faire
Behavioral Management
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:
Sets examples
Listens to opinions/ideas
Conveys goals to workers
Avoids the use of 'jargon'
Demonstrates flexibility
Management as motivating
Managers motivate workers by:
Trust
Respect
Empowerment
Participation
Rewarding performance
Encouragement
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.
Political Management
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
Systems Management
Views the organization as an integrated process where all the individual parts contribute to the whole.
Inputs
Transformational processes
Outputs
Feedback
Contingency Management
The manager uses their past experience to determine what is best for the business.
Managing change
Change is any alteration in the business environment.
Sources of change in business:
External sources
Changing nature of markets
Economic
Financial
Geographic
Social
Legal
Political
Technological
Structural response to change
Outsourcing
Flatter organizational structures
Development of strategic alliances
Network structures
Reasons for resistance to change:
Financial costs
Inertia
Cultural incapability
In mergers and takeovers
Staffing considerations
How to manage change effectively
Identify need for change, profit and loss statement and balance sheet
Setting achievable goals
Creating culture for change
Change models
Force-field analysis
Driving forces - those factors which initiate and support change
Restraining forces - those forces which act against change
Unfreeze/change/refreeze
Unfreeze - prepare for change
Change - the change begins
Refreeze - the change is reinforced.
Change and social responsibility
- Ecological sustainability
- Quality of working life
- Technology
- Globalization and cultural diversity
- E-commerce
Worst
an essay that reflects nothing
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