MGC3110 Study Guide - Final Guide: Employee Stock Ownership Plan, Performance Appraisal, Geocentric Model
Document Summary
Chapter 1 introduction to organisations and managers. What is a business: must sell message, product, service, exchange process something of value. Managers should make decisions by: managing: to coordinate and oversee processes, effectiveness = doing the right things (to achieve organizational goals, efficiency = doing the things right (minimum input/output) Why management: universal need for management, all organization levels, all organizational areas, all organization sizes, all types of organizations. Workplace changes: pre-eminence of technology, de(cid:373)ise of (cid:858)(cid:272)o(cid:373)(cid:373)a(cid:374)d a(cid:374)d (cid:272)o(cid:374)t(cid:396)ol(cid:859, focus on speed, embrace of networking, belief of empowerment, emphasis on teamwork, new workforce expectations, concern for work-life balance. Manager: someone who coordinates and oversees the work of other people so that organizational goals can be accomplished, managers need, functions, roles, skills. How a manager interacts with other people: figurehead, leader, liaison. How a manager exchanges and processes information: monitor, disseminator, spokesperson. How a manager uses information in decision making: entrepreneur, disturbance handler, resource allocator, negotiator.
