MGT 3200 Lecture Notes - Lecture 1: Peter Principle, Human Resource Management, Industrial Revolution
Document Summary
Buying a mansion lowers profitability because they get complacent and stop paying full attention to their company. Narcissists are optimists because they think they are great, so they take big risks. Efficiency refers to minimizing waste or reducing resource costs (means) Increasing productivity while keeping resource costs the same or lowering them. When an organization is efficient, it is more likely that they are going to be effective. Effectiveness can be harder to achieve with increased efficiency. The more concerned an organization is with efficiency, the harder it is to be effective: ex: l u"s (cid:271)udget (cid:272)uts (cid:894)effi(cid:272)ie(cid:374)(cid:272)y(cid:895) (cid:373)ake p(cid:396)o(cid:448)idi(cid:374)g a good edu(cid:272)atio(cid:374) difficult. Great managers get great productivity from their employees: they give incentives and bonuses, assig(cid:374)s (cid:449)o(cid:396)k (cid:271)ased o(cid:374) thei(cid:396) e(cid:373)ployees" st(cid:396)e(cid:374)gths, productivity makes a satisfied worker. Great customer service is an inside-out complex, happy employees are more willing to help customers. Injellitance: jealousy + incompetence (developed by northcote parkinson: they surround themselves with stupid people.
