Chapter 7 - Managers & Managing
definition of management
managerial functions – functions they should play (maybe not all the time), including (but not
limited to) planning & leader
o the planning function – internal to org
o the leadership function – internal to org
corporate culture - very important internally to orgs
Definition of management
The process of using resources to achieve goals effectively & efficiently
It is a process – has a start and a finish, defined duration of time. Action items that have to take during
that process. We will look at the process
Using Resources – human, capital, technological, financial, knowledge etc – resources that an org has
that we use to achieve some time of goal (short or long term desired result) (goals & objectives used
interchange often); something that the org wants to achieve.
Ideally, you want to achieve that result effectively and efficiently
Efficiency - the amount of resources incurred to produce goods & services (doing things right) - Use the
least amount of resources to have the outcome you want
Effectiveness - how well the organization is doing in meeting its goals (doing the right things) – is what
we are doing appropriate for our org?
2007 – Blackberry had a solid business model, they were the business phone. They said nobody was
going to use apps or a touch screen. They were no doubt efficient with their operations, but they were
not very effective because they lost sight of what was going on in the industry long term.
Manager – the person responsible for supervising resources to achieve goals.
Functions – what do you have to do as the manager?
- Depending on what level of manager you are, there will be certain skills that you draw.
- Ie big decisions, vision, long-term goals not the first level manager, these are conceptual skills
for a top-level manager who will have to diagnose the problem and understand the cause and
- At the first level management, you will need technical skills specific to the dept.
- As the CEO you need to look at the big picture but you don’t need to know everything about all
- There are different needs at different levels
- As you go up the chain of command, the conceptual skills will be more important. As a middle
manager you will need both technical and conceptual. Technical skills are very important for
bottom level managers. - HR mgmt. skills / ability to manage ppl – you will need this for all levels of mgmt..
- Time mgmt. skills – at all levels
Henri Fayol was the first to describe the 4 managerial functions - POLC
o planning: used to select goals & a course of action
5 steps – select goals and ways to achieve those goals
Is there a gap?
Ie a couple of years ago mcdonalds: they realized there was a gap between the
desired result (coffee / bfast) and what they were currently doing… th