(Managers and Management)
She, along with two business partners, founded a company in 2012.
I must clarify what we mean by the term organization.
Explain what is meant by the term organization.
The first characteristic is that it has a distinct purpose.
The goal is to focus on what creates the most value for shareholders.
The goal can be achieved with people.
which is typically expressed in terms of set of goals
People engage in work activities to make the goal a reality.
For simplicity's sake [For the sake of simplicity],
we can divide organizational members into two categories.
Nonmanagerial employees work directly on a job or task.
employees who ring up your sale at Home Depot
Nonmanagerial employees may be referred to by names such as associates and team members.
Managers are customarily classified as top, middle, and first-line.
Middle managers are responsible for translating the goal into specific details
Lower-level managers will see get done.
Management is the process of getting things done.
Efficiency means getting the most output from the least amount of inputs.
If you get more output for a given input, or if you get the same output with fewer resources.
simply speaking,
a French industrialist by the name of Henri Fayol
The work to be done is kept in proper focus.
Five functions was condensed to four.
Organizational members keep their attention on what is most important
Organizing includes determining what tasks are to be done and how tasks are to be grouped.
Managers get work back on track.
long-held notions about the manager's job
to see if things are going as planned
to look at another perspective on describing what managers do
to do an empirical study of executives
to provide a categorization scheme for defining~
The popularity of the process approach is attributed to its clarity and simplicity.
My continued popularity is attributed to my younger looking face.
Going global would be better at getting resources
The content of the managerial activities changes with the manager's level.
The differences are of degree and emphasis but not of activity.
differences in degree and emphasis but not in the activities.
Let me put it another way, Let me put it this way,
A firm can be classified as a small business using such criteria as member of employees.
We can describe a small business as an independent firm having fewer than 300 employees.
CEOs spend a great deal of time performing outwardly directed actions.
The proportion of time managers spend on each activities are different.
Don't interpret this difference to mean that~
Would you expect me to be different from you?
Managerial roles can be grouped under primary heading: interpersonal relationship, --
This question is best answered by looking at the jobs of managers.
Now to the question at hand,
day-to-day activities undertaken by a first-line supervisor
to have a vested interest in improving
to go bankrupt, to go into bankruptcy, a petition in bankruptcy
to rely on government bailout money
to file for bankruptcy protection
to develop a royal following and find ways to prosper
on a daily basis
to gain insight into the way your boss behaves
topics of concern to me
insights into human behavior
to inquire into the nature of things
a nation's stand on property
to have relevance to managers, to be relevant to managers
to be judged on results
to lose revenues at an alarming rate
to listen to voice mail forwarded to me from customers
to make pay and promotions contingent on outstanding customer service
Fun-loving personality that a firm wants in all its employees
to evaluate in such measures as how employees behave
On-the-spot-decisions to please customers
to be prompt in responding to needs
to be willing to do what's necessary
Managers do matter to organizations.
(History Module)
to put current activities in perspective
exceptions to principles
to bring dramatic changes
(The Management Environment)
Consumers take on record amounts of debt.
government bailouts in the billions of dollars
The economic crisis began with turmoil in mortgage market.
to ask for billions of dollars in government bailout money
Things won't be the way they were.
Worse than the anger was the aftermath.
It's by no means perfect.
to take equity stakes in banks
The rest of the lecture will be devoted to discussing globalization.
Nations are struggling with financial markets in turmoil.
economic ups and downs
In a poll by the Wall Street Journal
Pan Am failed to adapt to the changing environment.
When it comes to doing business
The greater commitment to value, the stronger the culture is.
Strong culture can substitute for rules.
A company fashions a culture that values risk taking.
(Integrated Managerial Issues)
strategy is tailored to that country's unique characteristics
to be alert to changes in laws
A multidomestic corpotation decentralizes decisions to local countries
to adapt to changed environment
the right to use brand name in return for a lump sum payment or a fee based sales
to take the next step in going global(international)
It can license or franchise to another firm the right to use its brand name.
to license the right to brew and market Budweiser beer to brewers OB in Korea
A, B, and C are just a few that~
Honda and GE team up to produce a new jet engine
to fullfill my mission
to see things only through their own eyes and from their own perspectives
, and the like
to hold a rather parochial view of the world of business
to take action against employees solely on the basis of their age
one of the most widely referenced approaches for analyzing culture variations
A society rewards future-oriented behavior such as delaying gratification
to donate to a child in need
the degree to which people accept that power distributed unequally
the extent to which a society maximizes gender role differences
compostable potato-based containers
to make an argument for or against business being socially responsible
to reward members for performance improvement
to be seen as socially irresponsible
Few terms are defined in as many different ways as social responsibility
firms provide on-site child care facilities for employees
Business must differentiate between right and wrong
to work all weekend on a rush project
Working parents have voiced social concerns.
The effectiveness of ethics codes depends on whether CEO ingrains them into the firms culture.
to be good ethical models both in words and in actions
What you do is far more important than what you say
to provide the greatest good for the greatest number
to sell a copy of the final exam for $50
Your professor grades on a curve
It is assumed that people want to assimilate
The challenge for managers is to do sth
to accommodate to diverse groups of people
You need to be true to your own internal ethical standards.
Much of the change can be attributed to government registration
to remember the importance of keeping diversity alive
to hold 50% of jobs, to make up 50% of the workforce
in the latter half of the twentieth century
be less sensitive to economic ups and downs
to pull back somewhat on economic forecasts
Workforce trends will be notable for three reasons
People attempt to fit in.
The diversity of the population is at an exponential rate.
All employees are given opportunity to do thier jobs to the best of thier abilities.
to adapt to a changing workforce
to accommodate varied needs of a diverse workforce
to be available for hire on an as-needed basis
A cause attributes to an effect. An effect is attributed to a cause.
to find time to fulfill commitments to home, spouse, and children
to put a high priority on family and a lower priority on jobs
dual-career couple
Companies want to swith on and off a workforce as needed.
to shift away from full-time jobs toward a contingent workforce
A growing number of workers need to structure their careers.
Contingent workers may not identify with the organization.
Office attire depends on the type of work being done.
Baby boomers expect problems to be solved with in-person meetings.
to enter a few keystrokes to get information
A guideline might be that when~
This is even more critical as customer have become increasingly frugal.
Managing generational differences presents some unique challenges.
The experience made her a customer for life.
to work in service jobs
Managers do what it takes [what's necessary] to please customers.
to do what's[whatever's] necessary to please customers
A chain of cause-and-effect runs from employees attitude to a firm's avenue.
to outperform your competitors in revenue growth
A shining example of a company that focuses on weeding out job candidates
The emphasis is on training rather than hiring
to advise you on ways to improve quality
a commitment to never being satisfied
to keep you behind the times
to trace problems to their roots
QM is not as popular as it was 15 years ago
Do not keep the things behind the times
As often happens with business practices
It may appear so, but consider this
The company achieves success by having in place a systematic arrangement of quality people.
Heavy reliance on part-time faculty may cut the cost of educating each student.
to circumvent the physical confines of working and to do work any place and at any time
to bring products to market
as opposed to making similar transaction over the Internet
In what ways does technology alter a manager's job?
We take as a given that firms will obey laws that society imposes.
to maintain the status quo
The big picture is often lost when management concepts are studied in isolation.
Commonly referred to as the "gray of the workforce"
Wal-Mart competes on price which is a hallmark of its philosophy.
The impact of dot-com is unlikely anything seen in the past century.
This advantage must be weighed against the loss of clarity.
LG uses a benchmarking as a tool in its quest for quality improvement.
Benchmarking involves the search for the best practice among competitors.
Fuji was light-years ahead of Xerox in efficiency.
Neither is ideals for all situations.
Have you ever been in the situation in which ~ ?
Our focus is in finding ways to develop strong relationships with stakeholders.
(Foundations of Decision Making)
Most problems don't come with neon signs identifying them as such in the world
For the sake of simplicity, I'll make the example something to which you relate.
rather than the simple act of choosing among alternatives
This process is as applicable to personal decision as it is to the decisions made by CEO
to make a comparison between the current state of affairs and a desired one
to allocate weights to the criteria, to give the criteria relative priority, to weight the criteria
to allocate[assign] weights[priorities] to the items
to give the most important criterion a weight of 10
to assign weights to the rest against that standard
To assign priorities to the relevant criteria
to give the items their relative priority
Alternatives that could succeed in solving the problem
The highest-rated factor is twice as important
No attempt is made to appraise the alternatives or viable choices
Each alternative is evaluated by appraising each alternative against the decision criteria
After she had test driven each vehicle
to put assessed values on each of alternatives
to use a 1-to-10 scale
to put the decision into(to) action
to multiply each alternative assessment against its weight
to generate the highest score
Managers tent to hold unrealistically positive view of themselves.
Quick payoffs are more appealing than those in the future
First information carries unwarranted weight relative to information received later
to fixate on initial information as a starting point
Managers who reaffirm post judgment tent to accept at face value information that confirms preconceived views.
There is nothing that can be done to predict random events
to blame failure on outside factors and take credit for their successes
to hear any dissent pertaining to acquisition
As the HP example illustrates
to maximize the likelihood of achieving the goal
A wealth of decision making support
once in place
Be out of starting salary of $35,000
to fit the assumptions of perfect rationality
to search for new alternatives
to escalate commitment to the original solution
to be described in Exhibit 3
to have experience with a similar type of decision making
A manager can act quickly with what appears to be limited information
The old belief that managers should ignore emotions may not be the best advice
Assumptions underlying perfect rationality
guidelines to channel a manager's thinking in a specific direction
Ethical standard will come into play
No cut-and-dried solution is available, a custom-made response is required.
to decide whether to sell off an unprofitable division
to pass upward unique and difficult decisions to higher level managers
to pass down routine decisions to lower level managers
Most decisions fall somewhere in between fully programmed and fully nonprogrammed
to minimize the need for managers to exercise discretion
A final point on this topic is that ~
Whenever possible
to make reasonable probabilities estimates
to make a decision in a group
A large portion of time is involved with defining problems.
Niether is ideal for all solutions.
to review the advantages that group decision have over individual ones
decisions that have far-reaching effects on firms and personnel
A group exerts extensive pressure on an individual to withhold his different views
There is truth to the saying that two heads are better than one
Neither is ideal for all situations
Group decisions are not without their drawbacks.
to top into the diversity
to spend a significant portion of their time in meetings
Managers may differ in rank in the organization.
Once the group is in place,
The responsibility of single member is watered down
to give the appearance of agreement
critical thinking that run contrary to the consensus views of the group
The interaction that takes place once the group is in place is inefficient
to dominates others in the group
to blend decision making with IT
to type the answer onto the computer screens
Messages flash on the screen for all to see with a keystroke
Quick typists outshine verbally eloquent and lousy typists
It saves companies hundreds of dollars
to make one decision after another in today's fast moving world
To some extent, practices differ from country to country.
the information richness of face-to-face meeting(oral communication)
Electronic meetings do experiences some drawbacks.
Uncertainty avoidance and power distance are high in Asian countries.
Senior managers push decisions down in the ranks
Traditions are valued in Italy, the Italian value traditions.
Creativity's obvious value is in helping managers identify viable alternatives.
to turn creative idea into action
How to simulate creativity
how to use analogies and see the familiar in a different light
Alexander G. Bell took concepts that operate in the ear and applied them to his talking box.
to turn potential into actual idea
Creative people love their work, to the point of seeming obsessed
To make the strange familiar and the familiar strange
(Foundations of Planning)
What is meant by the term planning?
What do you mean by the term planning?
What is to be done and how it's to be done.
to foster teamwork
to get from where it is to where it wants to be
an idea of where I want to go and how I expect to get there
Reasons for planning
to take actions in response to change
four reasons for managers to plan
goals against which to measure and evaluate work effort
The American tradition has been that success breeds success
You should be open to forging into uncharted waters if there are untapped opportunities
not to force a course of action and not to be tied to it
Contrary to what the critics of planning say
to support position that firms should have formal planning
Starbucks introduces made-from-scratch baked goods
Strategic management is very much a part of what managers do
Sales growth has been going on month after month
Making a difference
Coping with uncertainty
Everything you do should be oriented toward achiving goals.
Helping achieve goals
We should increase profits regardless of the means.
Clarity is lost as the goals make their way down from the top to lower levels.
plans that leave no room for interpretation
The skyrocketing costs of a college education
Cutbacks in government aid for research
To identify what it’s in business to do or what it do business for
To connect you with the people around you
To provide clues to what you see as your purpose
She was named to CEO
Performance will suffer if it isn’t complemented properly
To make an adjustment
PepsiCo pursues its mission with a corporate strategy
To expand the number of markets served and the number of products offered
To see if consumers might be harmed by decreased completion
To maintain things as they are
Something needs to be done when you are in trouble
To diversify into different products or markets
What sets an organization apart?
Overhead is kept to a minimum
To cut costs
by offering unique products that are widely valued by customers
Not try to be all things to all people
My product is perceived as compatible in quality to that offered by rivals
How work gets done
To be acceptable to buyers
To be different from the likes of McDonald’s and Dunkin’ Donuts
To employ quality practices
Be at the top of lists ranking the most admired
Managers can better position their organizations
Changes can challenge managers’ attempt at sustaining growth
Starbucks faces competition from the like of the like of McDonald’s
To undertake what is widely regarded as the first benchmarking
Sales staff roams the store armed with PDAs
In reality,
goals from the criteria against which work results are measured
To make a detailed study of the process
Be light-years ahead of Xerox in efficiency
Regardless of the means
Goals passed down to each succeeding level
Process was being made toward achieving goals
To compare participatively set goals with assigned goals
Some goals are better than others at indicating outcomes
Plans with a time frame beyond three years
to develop(formulate) plans
Specific plans would be preferable to loosely guided ones.
Specific plans are not without drawbacks to attaining the goals.
When you register for classes for the upcoming semester,
for the most part
to work on a plan
to be tailored to the needs of each level
should not be set in stone
to stay alert to environmental changes
(Organizational Structure and Design)
Few topics have undergone as much changes in the past few years as that of organizing.
Structural principles provide valuable insights into designing effective and efficient organizations
What job task will be done by whom
to place people with common skills into common units
to give orders and expect the orders to be obeyed
A senior manager ia a specialist in everything having to do with his product line
needs that can best be met by specialists
Customers flows through the various departments in sequence to get the driver's licenses
teams made up of individuals from various departments
the rights inherent in a position to give orders
Managers should be held accountable or responsible for performance
I view authority as the glue that hold an organization together.
The higher you are in the organization, the greater you have the authority.
Centralization-decision is not an either-or concept but a matter of degree.
in some instances
under some circumstances
to see change in practices and theories
Well trained managers can function with a wider span
What I mean is that it's not an either-or concept but a amtter of degree.
the extent to which employee behavior is guided by rules and procedures
to be responsive to dynamic changes
I have little discretion over what's done, when it's done, and how it's done
I have more discretion in how I do my work.
to go hand-in-hand with bureaucratic-style organizations
to convert inputs into outputs
Traditional designs are ill equipped to respond to rapid environment
to be appropriate for today’s environment
The entire organization is made up of work teams.
Teams do work in the way they think is best
be at the completion of project
He coined the term, boundaryless organuzation.
vertical boundaries that separate employees into organizational levels and hierarchies
Wwork gets done with a minimal glibal network of freelancers hired as need.
to concentrate on what they do best
by contracting out other activities to companies that do those activities best
freelancers hired as needed who move from project to project applying their skills
That’s not what it’s like in companies today
to apply knowledge in making decisions
mind-set
to take into account the effect on personnel
to maintain the status quo
to be described as the shared value
(Managing Change and Innovation)
If customers' needs remained the same, that's not the way it is.
We need to act on data.
Aritaum maintains its market-leading posotion in the cosmetic industry.
Nwe regulations are an impetus for change.
The Disabilities Act was signed into law.
a description that likens the change to a large ship crossing a calm water
The media business isn't what it used to be.
a short paid leave of absence
Functional stress allows athletes to perform at their highest level at crucial times.
Change has the potential to cause stress.
Change replace the known with uncertainty.
When you leave college for the world of full-time employment,
You'll trade the known for rhe unknown.
You may develop a negative attitude toward the change if required to use new technology.
We do things out of habit.
When employees are in over their heads, stress level will be high.
Communications will keep ambuguity-induced stress to a minimum.
If stress can be traced to work overload, job should be redesigned.
What firms come to mind when you think of successful innovators?
ability to channel creativity into useful outcomes
be good at gaining the commitment of others to support the missions
(Motivating and Rewarding Employees)
Let's begin by pointing out what motivation is.
A motivated person persists in putting forth effort to achieve goals.
unless the effort is channeld in a direction that benefits the company,
The 1950s was a fruitful time for development of motivation concepts.
although theoris formulated during this time have been questioned
Maslow separated the five needs into higher anf lower levels.
Once a need satisfied, an individual isn't motivated to satisfy that need.
Managers should understand what need level the person is on in the hierarchy.
a company that is rebuilding itself from the brink of extinction
performance on a class project
Research support has been establishrd for goal-setting theory.
Participation is preferable to assigning goals. participatively set goal
If they get feedback on how employees are progressing towards their goals,
the more confidence you have in your ability to succeed in a task
to wonder what kind of grade your peer makes on a test or on an assignment
Employees compare what they get from a job in relation to what they put into it.
If you perceives your pay to be equitable in comparision to that of relevent others,
Although the theory has its critics,
Traditional compensation plans are to pay a person for time on the job.
appreciation for a job well done
(Leadership and Trust)
Let's begin today's lecture by clarifying who leaders are and what leadership is.
People strated coming together in groups to accomplish goals.
Which leadership styles might be suitable in different situations?
consistancy between word and deed
Followers look to leader for an absence of self-doubt.
Let subordinates know what's expected of them.
Leaders convince followers of the rightness of decisions
to narrow the list down to two categories that accounted for most of behavior
to structure my role and those of employees in the search for goal attainment
to treat all employees as equals
Production oriented leaders regard their followers as a means to the end.
The model is based on the premise that a certain leadership would be most effective.
a theory that has had a strong following among managers
to go a step further by considering
CIO is on the hot seat facing challenges such technological changes.
Downsizing leaves managers with larger spans of control.
IQ is a necessary but not sufficient equiptment for leadrship.
Promises made must be promises kept.
(Managing Communication and Information)
The importance of communication cannot be overemphasized(overstated) for three reasons.
A message is passed by way of some medium to the receiver.
The source(sender) must be skillful in writing or speaking.
to refer to the document over the life of the plan(for a indefinite period of time)
When presenting a formal speech, more care is taken with the written word than the spoken word.
Putting something in writing forces me to think more carefully about what I convey.
to give an emphasis to words or phrases
It's not what you say but how you say it.
Instant messaging is not without its drawbacks.
(Foundations of Control)
to compare actual performance against a standard
to impact on the likelihood of being a repeat customer
Customers find certain items waiting in their room at arrival.
to perform on the exam
to get a low score on a test
You've experienced concurrent controls with software that alerts you to a misspelled word.
the right information at the right time and in the right amount
A library provides a good analogy of MIS.