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Lecture 2

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Department
Management
Course
MGM101H5
Professor
Dave Swanston
Semester
Fall

Description
September 20, 2013 Lecture 2 Article 1: Tim Hortons ­ Strategic positioning ­ What as a manager should be the first priority? • Focusing on menu • Focus on all stars, get rid of the dogs • Atmosphere • Prioritizing the operations­ setting an example of leadership • Encourage innovation • Reflect the culture and personality of the company • Get to know what the competitors are doing ­ Role of a CEO • Guide the company to achieve the goals of shareholders • Position the company in such a way to satisfy the needs of shareholders Article 2: Wagemark  ­ Companies can certify as Wagemark approved if the highest person in the firm  makes 8 times the amount of what the lowest person makes ­ It may not work in a large company ­ As managers, it is their goal and concern to maximizing growth, market share,  profits at any cost. However, the cost is too high­ it should be done in a  responsible manner ­ E.g. costs include child labor, outsourcing, under pay­ not a balanced approach ­ Need to keep in mind the role of organization and equitability Introduction to Management Functions ­ Front line manager: over see the book keeper ­ Functional: oversees the accounting/ finance department. ­ General: over see the vice managers in all departments. And functions ­ Being great at something does not lead to a good manager ­ Managerial Skills: • Conceptual skills: Planning/ organizing skills • Technical skills: specialty, understand the workers in the front line • Human skills: communication and interpersonal skill ­ Managers have to make sure that all the stakeholders are at a balance ­ Classical approaches to management: (Assumption people are social and self­  actualizing) • Scientific management • Administrative principles • Bureaucratic organization ­ Behavioral Management approaches:
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