A snapshot of the summary - MGMT
1.2 Management functions
What are the four functions of management?1. Planning
1.3 Kinds of managers
What are the function of each tier in management?1. Top managers: Responsible for the overall direction of the organization.
- Commitment (buy-in)
2. Middle managers: Figuring ''how'' to do the ''what'' and allocating resources to objectives.
- Subunit performance
- Strategy implementation
3. First-line manager: Responsible for managing the entry-level employees
- non-managerial supervision
- Teaching and training
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
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
3. Stock market returns
4. Customer satisfaction
3 Organizational environments and cultures
3.1 Changing environments
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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