Lecture 1 Flashcards
What is an organisation?
A formal entity in which a complex interaction between people, materials and money are used to create and distribute goods and services. There is a common goal. There is a governing body
What is management?
Getting things done in organisations through other people
What are the goals of Management?
Maximizing shareholder value, profitability and employee welfare
What components make up management process?
Planning, organizing, leading, controlling
What skills does a manager need?
Technical, people and conceptual
How does bureaucracy work?
It is made of rule following, hierarchy, impersonal relations, formal divisions, career systems(advance up ladder) ie army
What does scientific management focus on and how is this done?
It focuses on efficiency/productivity. Determine the most efficient way to work, assign tasks to those best suited and monitor performance. By F.W Taylor
What is HRM?
Human Relation Movement. It tries to meet the teams social needs to create job satisfaction. ie work do’s
What is CA?
Cultural Approaches. The idea that results come from the team not individuals and use a moral code of conduct. ie sports teams
What is Carl von Clausewitz thoughts on being a leader/
A leader must show a severity bordering on cruelty
Is choice of strategy or choice of industry more profitable
Choice of strategy is 5 times as important as choice of industry
What makes up the Porter’s Forces Model?
Suppliers, potential entrants, buyers, substitutes
What was Elton mayo’s most famous Hawthorne experiment?
Relay assembly test room experiment.
What is the Hawthorne effect?
People behave and perform differently when they have been singled out
What is theory X?
People dislike work and try to avoid it, they want to be directed. ie classical management theory
