fundamental of management. lecture 1

Lecture 1Managing in Turbulent Times

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• Innovation is the new imperative• Organizations cannot survive long-term without

innovation• Companies like Facebook are always investing in

new ideas• Innovation should be a part of products,

processes, people, and values

Why Innovative Management Matters

Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved.

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Management is the attainment of organizational goals in an effective and efficient manner through

planning, organizing, leading, and controlling organizational resources

Managers get things done through the organization

Create right systems and environment

Organizations need good managers

The Definition of Management


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1.1 What Do Managers Do?


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1.2 The Process of Management


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• An organization is a social entity that is goal directed and deliberately structured

• Organizational effectiveness – providing a product or service that customers value

• Organizational efficiency refers to the amount of resources used to achieve an organizational goal

Organizational Performance


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• Three categories of skills: conceptual, human, technical

• The degree of the skills may vary but all managers must possess the skills

• The application of management skills change as managers move up the hierarchy

Management Skills


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1.3 Relationship ofSkills to Management


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• Missteps and unethical behavior have been in the news• During turbulent times, managers must apply their skills• Common management failures:– Not listening to customers– Misinterpreting signals from marketplace– Not building teams– Inability to execute strategies– Failure to comprehend and adapt to change– Poor communication and interpersonal skills

When Skills Fail


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1.4 Top Causes of Manager Failure


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• Top managers are responsible for the entire organization

• Middle managers are responsible for business units

• First-line managers are responsible for production of goods and services

Management Types: Vertical


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• Functional Managers are responsible for departments that perform specific tasks

• General Managers are responsible for several departments

Management Types: Horizontal


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1.5 Management Levels


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• Organizations often promote star performers to management

• Becoming a manager is a transformation– Move from being a doer to a coordinator

• Many new managers expect more freedom to make changes

• Successful managers build teams and networks• Many make the transformation “trial by fire”

Making The Leap: Becoming A New Manager


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1.6 From Individual Performer to Manager


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The increased workload

The challenge of supervising former peers

The headache of responsibility for other people

Being caught in the middle

Do You Really Want to Be A Manager?


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Adventures in multitasking– Activity characterized by variety, fragmentation, and

brevity– Less than nine minutes on most activities– Managers shift gears quickly

Life on speed dial– Work at unrelenting pace– Interrupted by disturbances– Always working (catching up)

Manager Activities


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Ten Manager Roles


Informational Monitor

Disseminator

Spokesperson

Interpersonal Figurehead

Leader

Liaison

Decisional Entrepreneur

Disturbance Handler

Resource Allocator

Negotiator

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• Manager roles are important to understand but they are not discrete activities

• Management can’t be practiced as independent parts

• Managers need time to plan and think

Manager Roles


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1.8 Hierarchical Levels and Importance of Roles


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Small businesses are growing– Inadequate management skills is a threat– The roles for small business managers differ– Entrepreneurs must promote the business

Nonprofits need management talent– Apply the four functions of management to make social

impact– More focus on costs– Need to measure intangibles like “improving public

health”

Managing in Small Business and Nonprofit Organizations


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• Rapid environmental shifts:– Technology– Globalization– Shifting social values

• In the new workplace, work is free-flowing and flexible

Innovative Management forthe New Workplace


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1.9 Transition to a New Workplace


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• Collaboration across functions, levels, customers, and companies

• Experimentation and learning are key values

• Knowledge and information sharing

New Management Competencies


More challenges and changes are on the horizon! This is an exciting time in management.

fundamental of management. lecture 1

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