MAN 3025 Lecture Notes - Lecture 2: Henri Fayol, Dispersed Knowledge, Scientific Management

• School: University of Florida
• Department: Management
• Course: MAN 3025
• Professor: Professor Archambeau

Document Summary

Entrepreneurship: strategic thinking and risk-taking behavior that results in the creation of new opportunities for individuals and/or organizations. Entrepreneur: someone who stats their own business. Intrapreneur: someone inside an existing organization that see an opportunity and mobilizes the resources to realize it. Being an entrepreneur is what it takes to start a business. Being a manager is what it takes to grow and maintain a business. Key activities: creating new growth/process opportunities, attracting and developing resources, managing continuous improvement. Key activities: developing/supporting individuals, link dispersed knowledge and skills, managing tension. Key activities: establishing high standards, institutionalizing set of norms/values to enhance cooperation, creating overachieving corporate purpose and ambition. Social forces: influence of culture that guides people and relationships. Political forces: influence of political and legal institutions. Economic forces: the availability, production, and distribution of resources. As the environment changes so does the need for ever evolving management practices.