MGMT1001 Lecture Notes - Lecture 3: Competitive Advantage, Knowledge Management, Social Entrepreneurship
18 May 2018
School
Department
Course
Professor
3 – The Exceptional Manager
What is management?
• Art of getting things done with people
• Operate within an organisation – group of people who work together to achieve
some specific purpose
• Management defined as:
Pursuit of organizational goals efficiently and effectively, by
Integrating the work of people, through
Planning, organising, leading and controlling the organisatio’s resoures
(a) Efficiency – the means; attaining goals
(b) Effectiveness – the ends; achieving results
Multiplier effect: influence on organisation is multiplied far beyond results that can be
achieved by one person acting alone
Rewards of studying management
• Understand how to deal with organisations from the outside
• Understand how to relate to your supervisors
• Understand how to interact with co-workers
• Understand how to manage yourself in the workplace
Rewards of practicing management
• Experiencing a sense of accomplishment
• Stretch abilities and magnify range
• Build a catalogue of successful products or services
Seven challenges to being an exceptional manager:
• Managing for competitive advantage – staying ahead of rivals
Competitive advantage: ability of an organisation to produce goods or services
more effectively than competitors do, thereby outperforming them
Organisation must stay ahead in four areas:
(a) Being responsive to customers
(b) Innovation – finding ways to deliver new or better goods or services
(c) Quality
(d) Efficiency
• Managing for diversity – the future o’t resele the past
• Managing for globalisation – the expanding management universe
• Managing for information technology
Far-ranging e-management and e-communication
Accelerated decision making, conflict and stress
Changes in organisational structure, jobs, goal setting and knowledge
management
• Managing for ethical standards
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
What is management: art of getting things done with people, operate within an organisation group of people who work together to achieve some specific purpose, management defined as: Pursuit of organizational goals efficiently and effectively, by. Planning, organising, leading and controlling the organisatio(cid:374)"s resour(cid:272)es (a) efficiency the means; attaining goals (b) effectiveness the ends; achieving results. Multiplier effect: influence on organisation is multiplied far beyond results that can be achieved by one person acting alone. Rewards of studying management: understand how to deal with organisations from the outside, understand how to relate to your supervisors, understand how to interact with co-workers, understand how to manage yourself in the workplace. Rewards of practicing management: experiencing a sense of accomplishment, stretch abilities and magnify range, build a catalogue of successful products or services. Seven challenges to being an exceptional manager: managing for competitive advantage staying ahead of rivals.
