Chapter 1: Introductory Ideas to Management of Organizations Flashcards
difference between manager and management
manager - responsible for the work performance of a group
management - process of using organizational resources to achieve objectives through the functions:
- planning
- organising and staffing
- leading and motivating
- controlling
the two management typologies
according to organizational position
according to functions performed
according to organizational position: name the different levels
top level managers: make the major decisions regarding firm’s future (CEO, CFO…) aka C-level managers
middle level managers: responsible for implementing policies made by c-level (branch manager, director…)
first level managers: supervise operatives (office manager)
according to functions performed: name the functions
functional managers - supervise workers
general managers - responsible for groups with different functions
administrators - managers in public or non profit organizations
entrepreneurs - small business owners
team leaders - facilitators
four major managerial functions
planning - setting goals
organising and staffing - obtaining human + physical resources
leading and motivating - influences others to achieve goals
controlling - define standards of performance
compare efficiency and effectiveness
efficiency - “doing things right”, goal is low waste, getting the most output from the least input
effectiveness - “doing the right things”, goal is high attainment, completing activities to achieve organizational goals
how can managerial skills be developed?
general learning model:
- conceptual knowledge
- behavioural guidelines
- skill development exercises
- feedback
- frequent practice
combination of education + experience
five managerial skills
technical - understanding + proficiency in technique
interpersonal - work effectively as team member + build cooperative effort
conceptual skill - work w/ complex concepts + see organization as total entity (see the big pic)
diagnostic - identity problem, then causes and then choosing course of action
political - ability to acquire power to achieve objectives (needs to understand people)
important factors affecting management (6)
changing technologies increased emphasis on ethics increased competitiveness economic crises security risks + threats increasingly connected world
difference between multinational and transnational corporation
multinational: has units in different countries, however, headquarter is in one specific country
transnational: operates worldwide without having a single national headquarters
methods of entry into world markets (6)
exporting joint ventures + strategic alliances licensing + franchising direct foreign investment local assembly and packaging global start up
international agreements
EU: single marketplace (28 countries) NAFTA: trade b/w US, Canada + Mexico CFTA: trade b/w US and six countries ASEAN: southeast asian nations World Trade Organization: trade among nations across the world CPLP: b/w Portuguese speaking nations
global outsourcing: advantages + disadvantages
aka offshoring: relocating part of a firm’s functions overseas
+ can reduce costs
+ allows firm to focus on core activity
+ labour laws may be more relaxed
- often associated w/ unthetical practices (child labour)
- involves making employees redundant
- hard to maintain control
- cultural differences
what is the main guiding principle for international workers?
sensitivity to cultural differences
- adapting behaviour
- learn cultural rules to avoid….etc
what challenges do global managers face? (8)
developing global leadership skills currency fluctuations balance of trade problems human right violations, corruption cultural shocks differences in negotiation styles piracy and lack of knowledge to intellectual property rights coping w/ dangerous + defective products
