MGT Chapters 1-4
Chapter 1 Management and Managers
Management- the pursuit of organizational goals efficiently and
effectively, integrating the work of people through planning,
organizing, leading, controlling the organization's resources
Organization- It's a group of people who work...
mgt chapters 1 4 chapter 1 management and managers
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MGT Chapters 1-4
Chapter 1 Management and Managers
Management- the pursuit of organizational goals efficiently and
effectively, integrating the work of people through planning,
organizing, leading, controlling the organization's resources
Organization- It's a group of people who work together to achieve
some specific purpose
Efficient- to use our resources. People, money, raw materials...
Effective- to achieve results, to make the right decisions and to
successfully carry them out so that they achieve organizational goals
The study of management gives you a survival guide for the work
environment
Seven challenges of being a star manager
1. Competitive advantage- stay ahead of rivals, both of our organization
and of other individuals.
2. Manage for diversity
3. Manage for globalization
4. Managing for information tech – $1.2 trillion online
5. Managing for ethical standards
6. Managing for sustainability- business of green
7. Managing for your own happiness & life goals
Competitive advantage- ability of an organization to produce goods or
services more effectively than competitors do
Being responsive to customers
Innovation
Quality
Efficiency
Four principal functions: What Managers Do
Planning- set goals and grow to achieve them
Organizing- arrange tasks to accomplish the work
Leading- influence people to work hard to meet goals
Controlling- monitor performance and compare with goals
, Efficiency
Four principal functions: What Managers Do
Planning- set goals and grow to achieve them
Organizing- arrange tasks to accomplish the work
Leading- influence people to work hard to meet goals
Controlling- monitor performance and compare with goals
Pyramid Power: Levels of Management
Nonmanagerial personnel- lowest level
First line managers
o Make short term operating decisions, directing daily tasks
Middle Managers
o Implement the policies and plan of the top managers above
them
Top managers – highest level
o Make long term decisions about the overall direction of the
organization
Functional manager-responsible for one organizational activity. ex:
production, shipping, marketing, finance
General manager would be responsible for several organizational
activities. An office manager would be a general manager
Three types of Managerial Roles
Interpersonal roles- interact with people in the work unit
o Leader, liaison
Informational roles- receive and communicate info
o Monitor, spokesperson
Decisional roles – use info to make decisions to solve problems
o Entrepreneur, negotiator
2
Entrepreneurial Spirit
Entrepreneurship- process of taking risks to try to create a new empire
Entrepreneur- sees a new opportunity for a product and launches a
business
Intrapreneur- works inside an existing organization who sees an
opportunity for a product and mobilizes the organizations resources to
try to realize it
Necessity entrepreneurs- people who needs to earn a living and
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