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Summary Fundamentals of Management, Global Edition

ISBN-10 1292307323 ISBN-13 9781292307329
142 Flashcards & Notes
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A snapshot of the summary - Fundamentals of Management, Global Edition Author: STEPHEN P COULTER ROBBINS (MARY A DE CENZO, DAVID A ) Mary A Coulter David A De Cenzo ISBN: 9781292307329

  • 1 Managing today

  • 1.1 What are managers and where do they work?

  • What three characteristics do all organizations share?
    1. Goals
    2. People
    3. Structure
  • 1.2 What is management?

  • What are three ways to look at what managers do?
    1. 4 function approach
    2. Management role approach
    3. Skills and competencies
  • What is the four function approach?
    The four function approach is POLC
    Planning: defining goals, establishing strategy, and developing plans to coordinate activities
    Organizing: Determining what needs to be done, how it will be done, and who is to do it
    Leading: directing and coordinating the work activities of an organization's people. 
    Controlling: Monitoring activities to ensure that they are accomplished as planned 
  • What is the management role approach?
    Mintzberg's managerial role approach suggests that managers engage in certain 'roles' as they manage others.
    1. Interpersonal role (figurehead, leader, liaison)
    2. Informational role (spokesperson, disseminator, monitor)
    3. Decisional role (entrepreneur, disturbance handler, resource allocator, negotiator)
  • What is the skills and competencies?
    Says that managers need certain skills and competencies as they manage others. 
    1. Conceptual skills (facilitate making good things)
    2. Interpersonal skills (working well with other)
    3. Technical skills (knowledge, expertise)
    4. Political skills (building power base, establishing right connection to get needed resources for their group)
  • 1.6 What employability skills are critical for getting and keeping a job?

  • What employability skills are critical for getting and keeping a job?
    • Critical thinking: goal-directed, applying, elaborating, describing
    • Communication: oral, written, listening
    • Collaboration: working together
    • Knowledge application and analysis: recalling, combining
    • Social responsibility: ethical
  • 3 Important managerial issues

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

  • How do organization go global?
    1. Global sourcing
    2. Exporting + importing
    3. Licensing or franchising
    4. Global strategic alliance (partnership between knowledge). // joint venture (separate organizations)
    5. Foreign subsidiary - invest in foreign country
  • What are different types of global organizations?
    • Multi domestic corporation - management and other decisions are decentralized to the local country in which it is operating. 
      • rely on local employees
      • tailored strategy to each country
      • used by many consumer product companies
    • Transnational organization - artificial geographic boundaries are eliminated 
      • origin irrelevant 
      • increases efficiency and effectiveness in a competitive global market place
    • Global corporation - management and other decisions are centralized in home country
      • world market is treated as integrated whole
      • focus on control and global efficiency
  • 3.2 What do managers need to know about managing in a global organization

  • What is Hofstede's framework?
    This a framework which focusses on understanding a cultural difference. The five dimensions that vary are: 
    1. Power distance
    2. Individualism vs collectivism
    3. achieving vs nurturing
    4. uncertainty avoidance
    5. long vs short term orientation
  • What is the GLOBE findings?
    Global leadership and organizational behavior effectiveness research program, a program that studies cross-cultural leadership behaviors.
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