BUAD100 Lecture Notes - Lecture 7: E.G. Time, Video Lesson, Extraversion And Introversion

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BUAD100 Week 7
Video Lecture #1 Management & organizational behavior
Management:
- The process used to achieve organizational goals through planning, organizing, leading
and controlling people and other organizational resources.
- Management often focuses on…
o Effectiveness: accomplishing a purpose and producing intended results
o Efficiency: performing/functioning in the best way possible w/ least waste of
resources (e.g. time and effort)
- Managers:
o Vary in levels
o Make decisions about the use of organization’s resources – focus on planning,
organizing, staffing, directing and controlling organization’s activities to reach
objectives
Management levels:
- Employees
- Division heads, plan mgrs.
- President, vice president
- Foreman department heads.
Management Process: (draw diagram)
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What is the mission?
- Mission statement “what business are we in?”
- Think about:
o Who are we?
o Who are our customers?
o What basic beliefs/ values are we based on?
o What are our core competencies / competitive advantages?
o What our are responsibilities to our stakeholders?
Why set goals?
1) To substitute purposeful, strategic decision-making for aimless actions over what to
accomplish
2) To provide benchmarks for judging just how good a firm’s actual strategic performance
turns out to be
Examples of Organizational goals:
- To increase annual sales from $1 billion to $2 billion in 5 years
- To enter a new market every 18-24 months
- To have 30% of sales each year come from products not in the company’s product line
give years earlier
- To achieve 15% average annual growth rate in sales, profit and earning per share
Plans:
- Strategic plans
o Establish long-term objectives
o Long range (1 year or longer)
o Include plans to purchase companies / sell unprofitable segments of the business
/ expand globally / add products /etc.
- Tactical plans:
o Short range (less than a year)
o What do we need to do to help satisfy strategic plans?
o Must be periodically reviewed and updated
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