Class Notes (807,343)
Canada (492,710)
Economics (969)
ECON 220 (8)

What is Management.docx

4 Pages
Unlock Document

University of Waterloo
ECON 220
Owen Gallupe

ARBUS 200 – Management Four Key leadership Characteristics  Honesty, Integrity, Leadership, Ethics, Moral  Forward-Looking, Strategic Visionary  Inspiring - humble, quiet, strength, conviction  Competent - leadership challenge What are the most important attributes for today’s managers>  Strategic vision  Strong interpersonal skills  Integrity  Creativity  Intelligence  Don’t know/other Managing: Definition  Involves planning, controlling and directing  Provides stability and predictability to meet current needs  Organizes and structures to carry out mission, vision and plan  Managing is the one who makes things stable. The leader is the one shaking it up and preparing for change  Strategies and visions are the first step Why CEOs fail People problems  Les Alberthal EDS, Robert Allen A, T&T  CEO cannot work with people  Are people in an organization assets or liabilities?  Wrong people doing the job Decision Gridlock  John Akers IBM, Tom Barrett Goodyear Bad Earnings News  When profit motives go away from assets of good behavior  William Fields Hudson Bay  Joseph Antonini K-Mart - Missing in Action  William Agee Morrisson Knudsey Off the deep end financials  Al Dunlap Sunbeam - violated depreciation tables to keep stocks up. Integrity is lost MANAGEMENT PROCESS  Planning, organizing, controlling the firm’s resources to achieve goals objectives and mission  Levels of management  Areas of management  Management skills BASIC MANAGEMENT SKILLS INCLUDE:  Technical, Functional and /or Industry related skills o Global o Technology  People/Organizing/Delegation Skills  Conceptual Skills - take complex tasks and break them down  Decision-making skills  Time Management Skills LEADERSHIP  Robert Reich’s quote  A “we” or “us” company is when the affiliation in a company is so tight.  Westjet talks as a “we” “us” LEADERSHIP:DEFINITION  Promotes change and development to meet rapid advances of a changing society  Creates new directions and motivates others to move in these directions  Inspires commitment, loyalty and involvement  The Manager administers, The Leader initiates  The Manager will ask how and when, The Leader will ask what and why  The Manager has her eye on the bottom line, The leader has her eye on the horizon  The manager accepts the status quo, the leader challenges the status quo LEADERSHIP: FUNCTION  Creating a culture of Leadership o Recruiting people with leadership potential o Then…managing their career patterns  Providing opportunities to lead early o Broadening their managerial base o Create challenging opportunities for young managers o Institutionalizing, leadership c
More Less

Related notes for ECON 220

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.