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Summary Fundamentals of Management Essential Concepts and Applications

- Stephen P Robbins, et al
ISBN-10 0133499979 ISBN-13 9780133499971
227 Flashcards & Notes
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A snapshot of the summary - Fundamentals of Management Essential Concepts and Applications Author: Stephen P Robbins David A DeCenzo Mary Coulter ISBN: 9780133499971

  • 1 Managers and management

  • Managers and efficiency &effectiveness
    • Concepts are different but interrelated
    • It's easier to be effective if you ignore efficiency
    • Poor management is often due to inefficiency and ineffectiveness or effectiveness achieved without efficiency
    • Good management is concerned with both attaining goals and doing so as efficiently as possible
  • Why do we have different managers?
    • Because of specialization
    • Because of span of control
  • What are technical skills?
    Job-specific knowledge and techniques needed to perform work tasks
  • 2 The management environment

  • 2.2 How Does the External Environment affect managers

  • To asses environmental uncertainty, what can a manager use?
    Evironmental uncertainty matrix
  • What are different stakeholders from an organization?
    • Employees
    • Customers
    • Social an political action groups
    • Competitors
    • Trade and Industry associations
    • Governments
    • Media
    • Suppliers
    • Communities
    • Shareholders
    • Unions
  • Why should managers care about stakeholder relationships?
    • Good relationships can positively affect organizational performance
    • It's the right thing to do because an organization depends on external groups as sources of input.
    • Create and reinforce a positive image of the organization among its stakeholders and community. 
  • 3 Integrative managerial issues

  • 3.1 What is globalization and how does it affect organizations?

  • What is a global village?
    A boundary less world where goods and services are produced and marketed worldwide
  • What are characteristics of an multidomestic corporation?
    An MNC in which management and other decisions are decentralized to the local country in which it is operating.

    • Rely on local employees to manage the business
    • Tailor strategies to each country's unique characteristics
    • Uses by many consumer product companies
  • What are characteristics of an transnational organization?
    An MNC where artificial geographical boundaries are limited

    • Country of origin or where business is conducted becomes irrelevant
    • Increases efficiency and effectiveness in a competitive global market place
  • Arguments for and against social responsibility
    FOR
    • Public expectations
    • Long-run profits
    • Ethical obligation
    • Public image
    • Better environment
    • Discouragement of further governmental regulation
    • Balance of responsibility an power
    • Stockholder interests
    • Possession of resources
    • Superiority of prevention over cures

    AGAINST
    • Violation of profit maximization
    • Dilution of purpose
    • Costs
    • Too much power
    • Lack of skills
    • Lack of accountability
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