Class Notes (807,944)
Canada (492,936)
BUSA 100 (17)


19 Pages
Unlock Document

McGill University
Business Admin
BUSA 100
Morty Yalovsky

Introductory Lecture—September 11 12/11/2012 11:56:00 AM Keating, Nulman, Todd Management Hierarchy (Bottom to Top) -Non-management positions -First line managers (production or creation of org. products and services)  supervisors, foremen, office managers, dept. head -Middle Managers  Regional, plant, division managers -Top Managers (establish plans that affect entire org.)  President, COO, VP What is Management? -A process that coordinates work activities so that they are completed efficiently and effectively through other individuals Henry Mintzberg-1973 -Observed and analyzed the day to day activities of 5 CEOs. He identified 6 behavioral characteristics of management activities (i.e., High volume and high speed work, variety, interactions, preference for verbal meetings, etc.) -Art, Craft, Science Mintzberg Model Competitive advantage strategies: 1) Cost and quality leadership 2) Knowledge and speed 3) Product differentiation 4) Barriers to Entry 5) Financial resources Types of Organizations: -Private sector, Non Profit Sector, NGO’s, Public Sector, Crown Corporations (like private sector but governments are shareholders-ex. SAQ) History of Management Evolution -Quantitative approach  use techniques developed for military application in WWII; statistics, critical path scheduling, optimization, simulation. (Ford, Kaizen, etc.) -Systems Approach (1960+)  set of interdependent and interrelated components arranged in a manner that provides a unified whole 21 Youtube Clip -Professor gives class gameshow 3 door example—exposes door 3, now probably increased to 67% so the kid picks door two and changes his answer from door 1 Organizational Behavior—September 18 12/11/2012 11:56:00 AM RUTHANNE HUISING -Mt. Everest stimulation Common Information Effect -Information held by more members before team discussion has more influence on team judgments than information held by fewer members, regardless of the validity of the information Psychological Safety -Allows team members to provide input without fear of reprisal from others Organizational Behavior -Study of what people do in a social unit which functions on a relatively continuous basis to achieve a set of goals -Field of study grounded in the disciplines of sociology, anthropology, social psychology, political science, and economics -Study of social action, not individual psychology Labor Management Relations and Human Resources Management -Study the legal, political, and economic factors affecting the employer- employee relationship READING: Teamwork on the Fly---Amy C. Edmondson -Teaming: Teamwork on the fly  way to gather experts in temporary groups to solve problems they’re encountering for the first and perhaps only time  leaders’ emphasis must shift from composing and managing teams to inspiring and enabling teams  situations involving teaming and complex and uncertain -To “team” well, employs and organizations must embrace principles of:  project management: scoping out the project, structuring the group, and sorting tasks by level of interdependence  team leadership: emphasizing purpose, building psychological safety, and embracing failure and conflict -To facilitate effective teaming leaders need to:  manage the technical issues of scoping out the challenge (outlining roles and responsibilities, etc.)  lightly structure the boundaries  Sort task for execution (combine people’s efforts—combining aka interdependence) o Pooled—breaking work down into small tasks that could be done and monitored individually o Sequential—tasks that need input from someone else (“unless the guy upstream does his part, I can’t do mine”) o Reciprocal—back and forth communication and mutual adjustment* -Software of teaming  asks people to get comfortable with a new way of working rather than with a new set of colleagues  four software tools: emphasizing purpose, building psychological safety, embracing failure, and putting conflict to work -The Behaviors of Successful Teaming  Speaking up, Experimenting, Reflecting, Listening intently, Integrating Practice in Management (CASE Studies)—September 25 12/11/2012 11:56:00 AM RICHARD DONOVAN Three Components to Building Trust: Information, Problem Solving and Decision making, and follow-up (I, P&D, F) The Customer Service Equation Customer service is a factor of Quality x Cost x Delivery x Safety x Morale x Innovation (QCDSMI) Presentation Structure 1. Control your settings 2. Establish rapport 3. Agenda 4. Current Situation 5. Executive summary 6. Decision Criteria 7. Alternatives 8. Decision Matrix 9. Recommendation 10. Finances 11. Implementation 12. Contingency 13. Wrap Up 14. Q&A READINGS CASE STUDY—ROBIN HOOD AND THE MERRYMEN -Robin Hood revolts against Sheriff, realizes he cant do it alone. For people to join his crusade, he demanded only a willingness to serve. Believed strength lay in numbers. Assigned tasks to a few select people, as time went on increasing size of band was concerning to Robin Hood because vigilance was in decline and discipline was harder to enforce, along with the fact that food supply was low. Thought that maybe his band should change their policy of outright confiscation of goods to one of a fixed transit tax, but this would be changing their original motto: “stealing from the rich and giving to the poor”, loose support from farmers and townspeople. JUST IN TIME FOR THE HOLIDAYS—Eric McNulty -At the north pole, huge spike in demand for Timmy the train CD-ROM, unsure if they can keep up with the demand. Trends jump across the ocean in an instant. All of a sudden, because of teen magazine, a product called Meowrrr that they predicted to be really popular may now shoot down in demand because pop star called it “so yesterday”. Realize that they might be able to distribute most of Meowrrs, but will still have some left and meanwhile the Timmy CD-ROM will be short in stock. North pole is the original just-in-time business—one market, one deliverable, one delivery date. One worker suggests upgrading the current software system to be more accurate. Real issue is to be able to turn over manufactruring on a dime. Santa’s problems: Would better software give him an accurate picture of demand? Would more market research eliminate some guesswork? COMMENTATORS: How can North Pole Workshops better respond to shifts in demand? Eric Johnson -Santa needs to stop reacting to fads and start creating them, through old fashioned advertising, tie-ins to other fads, making something tradable and collectable -Combine scarcity with variety (Beanie baby example). Rolling Mix strategy (Zara) -Suggests outsourcing as a low cost way to protect against currency and political risk Horst Brandstatter -Ignore trends even if it hurts short-term revenues to avoid disappointment. Never disappoint the customer. -Stay away from market research, its really difficult in the toy industry -No outsourcing in order to closely monitor production and better react to market signals. Warren Hausman -Newsvendor model: plot a bell curve representing demand uncertainty, asses the cost of underage, assess the cost of overage, conduct economic balancing to minimize expected costs -Other ways of coping with product shortages: substitution, risk sharing or hedging, and postponement. Anne Omrod -Stop Meowrrr production and move to Timmy CDs -Needs to focus on forecastability—depends on factors such as how new a product is and how connected it is to trends in the marketplace Accounting—October 2 12/11/2012 11:56:00 AM DESMOND TSANG What is accounting? Traditionally: defined as the art of recording, classifying, and summarizing transactions and events in terms of money Today: language of business. Identifies, measures, analyzes, and communicates this financial info to various users. Conducts financial reporting, tax planning, budgeting for organizations. Why do we need Accounting? -Measure a company’s performance so investors and creditors can compare the income and assets employed by companies. Can then assess risks and returns in companies Financial Accounting -Used by internal and external (investors, creditors, gov. etc.) users. Auditing -When accountants report financial info, auditors are outside people who make sure there’s no bias -Auditor: someone independent who gives the management of a company notice of problems found in financial statements based on the generally accepted accounting principles (GAAP) Managerial Accounting -Accountants helping in different departments that mainly work in capital budgeting and business analysis Taxation -Prepare corporate and personal income tax statements, formulate tax strategies (such as financial choice, how to treat a merger or acquisition, deferral of taxes, etc.) Income Statement -A statement to show the operating results of the company (bottom line called net income)  Revenue-Expenses=Net Income Balance Sheet -Statement to show the financial position of the company  Liabilities+Equity (where your money comes from)=Assets (what you own) *Liabilities—what you borrow (ex, bank loan) *Equity—ownership stake (ex. Common stock etc.) Revenue Recognition -How much a company makes. Recognize revenue if performance is achieved, measurability and collectability are reasonably assured Cas
More Less

Related notes for BUSA 100

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.