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A snapshot of the summary - MGMT
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1 Management
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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
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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
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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.
Motivational -
1.8 Competitive advantage through people
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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
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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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The following topics are covered in this summary
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environment, environmental, uncertainty
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threats, factors, opportunities
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characteristics, influence, economic
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organizational, events, culture
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level, ethical, harm
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advantage, value, strategy
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tech, change, design
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countries, company, imported
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departementalization, separate, particular
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matrix, authority, line
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interdependence, completed, group's
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applicants, tests, aptitude
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workers, turnover, performance
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diversity, people, members
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data, tags, mining