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GMS200 Day 2 - Chapter 13.docx

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Global Management Studies
GMS 200
Shavin Malhotra

Compromise Effect: Consumers are not completely rational when making purchase decisions. When you manipulate your strategy, it can help influence consumer demand. Consumers typically compromise towards the middle product, rationalize to themselves that they do not fit into either the high end or low end markets. What is an organization?  A collection of people working together to achieve a common purpose/goal. Are organizations an open or closed system?  Closed systems are self-contained, and can survive by itself without depending on any external factors  Open systems interact with the environment and need them to survive o Organizations are OPEN SYSTEMS  Organizations depend on resources from the environment such as, finances, people, materials, technology, information, etc. o With these inputs, you get outputs for consumers to buy  Organizations must look at the environment and accordingly adapt High Effective, Not Efficient Effective and Efficient  Goals Achieved  Goals Achieved  Resources Wasted  No wasted resources  High productivity Low Neither Effective Nor Efficient Efficient but not effective  No wasted resources  Goals Not Achieved Poor Good What is a Manager?  Traditionally – a person who plans, directs people and resources  In new organizations – Person who directly supports and helps activate the work efforts and performance accomplishments of others.  Typical Management Levels: Typical Business Typical Non-profit Board of Directors Board of Trustees Chief Executive Officer Top Managers Executive Director President President, Administrator Vice President Vice President Division Manager Middle Managers Division Manager Regional Manager Regional Manager Plant Manager Branch Manager Department Head First-Line Managers Department Head Supervisor Supervisor Team Leader Team Leader Non-Managerial Workers Managerial work Process: Planning, Organizing, Leading, Controlling Setting: Hectic pace, interruptions, interactions, many tasks, long hours The results are your PERFORMANCE  Follows the PRINCESS model for important manager activities o Planning o Representing o Investigating o Negotiating o Co-Ordinating o Evaluation o Supervising o Staff Environmental Uncertainty  Is a lack of complete information regarding what exists and what developments may occur in the external environment  Two dimensions of environmental uncertainty o Complexity (of the environment, depends on number of competitors, etc) o Rate of Change (The environment changes really fast, ex: technology) What Constitutes Exter
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