understanding the global context of business and management summer business institute villanova...
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Understanding the Global Understanding the Global Context of Business and Context of Business and
ManagementManagement
Summer Business InstituteSummer Business Institute
Villanova School of BusinessVillanova School of Business
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OverviewOverview
A bit of historyA bit of history
The rise of globalizationThe rise of globalization
The modern organization The modern organization
What is management?What is management?
Managerial functionsManagerial functions
Managerial rolesManagerial roles
What do you need to succeed?What do you need to succeed?
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Feudalism to CapitalismFeudalism to Capitalism
Feudalism: The absence of motivation on Feudalism: The absence of motivation on the part of the peasants gave rise to the part of the peasants gave rise to tenant farmers sharing in more of the till tenant farmers sharing in more of the till and toil of the landand toil of the landMercantilism: Merchants saw opportunities Mercantilism: Merchants saw opportunities to trade at a profitto trade at a profit Capitalism: Capitalism: Mercantilism has evolved Mercantilism has evolved into Capitalism today, as private into Capitalism today, as private industrialists produce, trade, and industrialists produce, trade, and distribute productsdistribute products
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A Bit of History…A Bit of History…The industrial revolutionThe industrial revolution (1760-1830)(1760-1830)– End of feudalism, colonial expansion, steam power, cotton End of feudalism, colonial expansion, steam power, cotton
mills, ironworksmills, ironworks– Proliferation of factoriesProliferation of factories
Coordination of effort in continual production of goodsCoordination of effort in continual production of goods
Increasing change and the growth of capitalism, led to Increasing change and the growth of capitalism, led to technological progress and the most significant change in technological progress and the most significant change in the business systemthe business systemChange was pervasive in both farming and manufacturing Change was pervasive in both farming and manufacturing as the use of technology could be used more efficiently as the use of technology could be used more efficiently than labor such as steam power or interchangeable parts than labor such as steam power or interchangeable parts to build sewing machines to manufacture clothingto build sewing machines to manufacture clothingRise of capitalism—emphasis on efficiency!Rise of capitalism—emphasis on efficiency!The assembly line – The assembly line – Ford videosFord videos, , NissanNissan
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A Bit of History…A Bit of History…
Workers
Structure of a Typical pre-1990 Organization
Middle Management
Top Management
CEO
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A Bit of History…A Bit of History…
CEO, TMT, and Board of Dir.
SMWTs
Middle Management
WHY??
Structure of a Typical Modern Organization
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The Modern OrganizationThe Modern Organization
Top Managers
Team Leaders and Managers
Operating Workers
Customers and Clients
support
support
serve
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The Rise of GlobalizationThe Rise of GlobalizationIt has been said that arguing against It has been said that arguing against
globalization is like arguing against the globalization is like arguing against the laws of gravity.laws of gravity.
--Kofi Annan, former U.N. Secretary General--Kofi Annan, former U.N. Secretary General
From the streets of Davos to the streets of From the streets of Davos to the streets of Seattle, there is a growing consensus that Seattle, there is a growing consensus that globalization must now be reshaped to globalization must now be reshaped to reflect values broader than simply the reflect values broader than simply the freedom of capital.freedom of capital.
--John J. Sweeney, AFL-CIO president--John J. Sweeney, AFL-CIO president
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The Rise of GlobalizationThe Rise of Globalization
Increasing importance on cross-Increasing importance on cross-cultural managementcultural management
The GLOBE studyThe GLOBE study
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What Is Management?What Is Management?Management is…Management is…– Working with and through othersWorking with and through others– Achieving organizational objectivesAchieving organizational objectives– Balancing effectiveness and efficiencyBalancing effectiveness and efficiency– Making the most of limited resourcesMaking the most of limited resources– Coping with a changing environmentCoping with a changing environment
Business is like a car—it won’t run by itself Business is like a car—it won’t run by itself except downhill.except downhill.
--Unknown--Unknown
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Management in YOUR LifeManagement in YOUR Life
Jay Wright
Greek life
VSB Dean Jim Danko
Your Parents
“The Office”
SBI
Jay-Z
Intramural Sports
Your job search
Wildcat Sports
Harry Potter
Yanks/Red Sox/Phils/Orioles
Your Planner
Your student club
Special Olympics
“Office Space”
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Managerial Functions—the “do”Managerial Functions—the “do”
Efficiency / Effectiveness
Controlling Planning
DecisionMaking
Leading
Motivating Organizing
Communicating Staffing
Henri Fayol(1916)
The “Big 4”:
-Planning
-Organizing
-Leading
-Controlling
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Functions of ManagementFunctions of ManagementPlanning - choosing the business model and Planning - choosing the business model and allocating resources and selecting goalsallocating resources and selecting goalsOrganizing - creating task, culture and reporting Organizing - creating task, culture and reporting relationships to coordinate and motive individuals relationships to coordinate and motive individuals to achieve the firm’s goalsto achieve the firm’s goalsLeading - creating a vision using power, influence, Leading - creating a vision using power, influence, and persuasion for individuals to followand persuasion for individuals to followControlling - evaluating the accomplishment of Controlling - evaluating the accomplishment of the planned goals and adjusting as neededthe planned goals and adjusting as needed
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Managerial Roles—the “who”Managerial Roles—the “who”
InterpersonalInterpersonal InformationalInformational DecisionalDecisionalInteractions with Interactions with othersothers•FigureheadFigurehead•LeaderLeader•LiaisonLiaison
Information Information processing, processing, exchangeexchange •MonitorMonitor•DisseminatorDisseminator•SpokespersonSpokesperson
Decision makingDecision making•EntrepreneurEntrepreneur•Disturbance Disturbance handlerhandler•Resource Resource allocatorallocator•NegotiatorNegotiator
Henry Mintzberg—The Nature of Managerial Work (1980)
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Efficiency and EffectivenessEfficiency and Effectiveness
Efficiency - “doing things right”; Efficiency - “doing things right”; focuses on resource usagefocuses on resource usage
Effectiveness – “doing the right Effectiveness – “doing the right thing”; focuses on the taskthing”; focuses on the task
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What Do You Need to Succeed?What Do You Need to Succeed?
A X M X O = SA X M X O = S– A = Ability, Skills, CompetenciesA = Ability, Skills, Competencies– M = MotivationM = Motivation– O = OpportunityO = Opportunity– S = Success!S = Success!
Key personal competenciesKey personal competencies– Leadership, self-objectivity, analytic Leadership, self-objectivity, analytic
thinking, behavioral flexibility, oral and thinking, behavioral flexibility, oral and written communication, personal written communication, personal impact, resistance to stress, tolerance impact, resistance to stress, tolerance for uncertaintyfor uncertainty
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Learning PointsLearning Points
Definition of managementDefinition of management
The “modern” organizationThe “modern” organization
Managerial functions vs. rolesManagerial functions vs. roles
What it takes to succeed as a What it takes to succeed as a manager!manager!Inspirational Management Quote of the Day:
A business that makes nothing but money is a poor kind of business.
--Henry Ford (1863–1947), American industrialist