Summary: Mgmt | 1-337-40747-X | Chuck Williams

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Read the summary and the most important questions on MGMT | 1-337-40747-X | Chuck Williams

  • 1 Management

  • 1.2 Management functions

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  • What are the four functions of management?

    1. Planning
    2. Organizing
    3. Leading
    4. Controlling
  • 1.3 Kinds of managers

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  • What are the function of each tier in management?

    1. Top managers: Responsible for the overall direction of the organization.
    - Change
    - Commitment (buy-in)
    - Environment
    - Culture
    2. Middle managers: Figuring ''how'' to do the ''what'' and allocating resources to objectives.
    - Resources
    - Objectives
    - Subunit performance
    - Coordination
    - Strategy implementation
    3. First-line manager: Responsible for managing the entry-level employees
    - non-managerial supervision
    - Teaching and training
    - Scheduling
    - Facilitation
    4. Team leaders: Responsible for facilitating team activities towards goal accomplishment.
    -Help team members to:
     - Plan and schedule work
     - Learn problem-solving methods
     - Work effectively with each other
  • 1.4 Managerial roles

  • What are the 3 managerial roles?

    1. Interpersonal: Speaking to people/ maintaining or building relationships.
    2. Informational: Gathering and sharing information
    3. Decisional: Making good decisions
  • What are the roles within interpersonal manegement?

    - Figurehead role: Representative/ceremonial duties
    - Leader role: Motivatie and encourage workers
    - Liaison role: Speak with people outside of the company
  • What are the roles within informational managing?

    - Monitor role: Scanning the environment for information, asking others for information, and receiving information
    - Disseminator role: Share collected information with subordinates and others in the company
    - Spokesperson role: Share information with people outside their departments or companies
  • What are the roles within decisional management?

    Entrepreneurial role: Adapt themselves, their workers, and their units to change
    Disturbance handler role: Respond to problems and pressure that need immediate attention and action  
    Resource allocator role: Decide who gets what resources, and in what amounts
    Negotiator role: Negotiate schedules, projects, resources, goals, outcomes, and employee raises.
  • 1.5 What companies look for in managers

  • What are the managerial skills a good manager should have?

    Technical: Specialized procedures, techniques, and knowledge required to get the job done. 
    Human: The ability to work well with others.
    Conceptual: The ability to see the organization as a whole, how different parts affect each other, and to recognize how the company fits into or is affected by its external environment. 
  • 1.8 Competitive advantage through people

  • What are the benefits of creating a competitive advantage through people?

    - Helps develop a workforce that is smarter, better trained, more motivated, and more committed than those of competitors.
    - Produces substantial advantages in:
    1. Sales and revenues
    2. Profits
    3. Stock market returns
    4. Customer satisfaction
  • 3 Organizational environments and cultures

  • 3.1 Changing environments

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  • What kinds of environments are there?

    1. Stable environment: The rate of change is slow
    2. Dynamic environment: The rate of change is fast
  • What is the punctuated equilibrium theory?

    Companies go through long periods of stability (an equilibrium) during which incremental changes occur; followed by short, complex periods of a dynamic fundamental change (revolutionary)  and finish with a return to stability. (new equilibrium)

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