1. Towards Modern Management Flashcards
What is the definition of management?
Management is the group of functions in an organization concerned with directing activities to achieve the organization’s objectives, actively directing human effort.
What are the two senses of the word “management”?
- A general human activity of managing, referring to taking responsibility for purpose, progress, and outcomes.
- A distinct role that people, especially in organizations, take on, making managing separate from doing.
What are Henri Fayol’s five functions of management?
- Planning
- Organizing
- Commanding
- Coordinating
- Controlling
What impact did the Industrial Revolution have on management?
It centralized production, reduced the need for skilled workers, increased mechanization, and introduced poor working conditions.
What is Scientific Management, and who developed it?
Scientific Management is the optimization of production processes to improve efficiency using scientific principles, developed by Frederick Winslow Taylor.
What is the “organizational lag model”?
The time delay between technological innovations and the adoption of new management methods.
What was one of the first recorded instances of high-volume production?
The production of pulley blocks at the Royal Navy docks in Portsmouth, invented by Marc Isambard Brunel.
What was significant about the Springfield Rifle in terms of manufacturing?
It was made in large quantities with interchangeable parts, introducing standardization.
What was the impact of the early car industry on production methods?
Early cars were handcrafted, making production slow and expensive, with little standardization.
How did Henry Ford revolutionize mass production?
He introduced the Model T with standardization, post-machining heat treatments, and assembly line production, reducing costs.
What was a major downside of Ford’s production model?
High worker dissatisfaction led to high turnover, requiring increased wages and eventually contributing to unionization.
How did General Motors (GM) improve on Ford’s management innovations?
Alfred Sloan introduced brand differentiation, financial management, and profit centers within GM.
What is “Lean” manufacturing, and who developed it?
Lean manufacturing focuses on continuous improvement, efficiency, and respect for workers, developed by Kiichiro Toyoda and Taiichi Ohno at Toyota.
What is “Kaizen” in Lean manufacturing?
Continuous incremental improvement through small changes.
What are some key features of Lean manufacturing?
Small, flexible batch production
Empowered workers in small teams
Just-in-time inventory
Continuous improvement
What are some modern megatrends affecting management?
- Technological change
- Urbanization
- Global warming and resource scarcity
- Economic rebalancing
- Demographic and social changes
What are some modern management responses to megatrends?
Flatter hierarchies and new managerial styles
Workplace democracy and gig economy structures
Continuous skill development and lifelong learning
Gender balance and inclusivity initiatives
What are the three key takeaways from this lecture?
- Understanding the definition and scope of management.
- Recognizing how managerial change follows technological change.
- Awareness of global megatrends shaping modern management.
