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MGT 10001- Midterm Exam Guide - Comprehensive Notes for the exam ( 57 pages long!)


Department
MGT
Course Code
MGT10001
Professor
Tim Bednall
Study Guide
Midterm

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Swinburne
MGT10001
MIDTERM EXAM
STUDY GUIDE

Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

Introduction to management
[WEEK 1 – CHAPTER 1]
Successful businesses need good managers – who can plan effectively, organize
resources and tasks, lead and motivate employees, and continuously evaluate
strategies and their success
POLC
The approach of management greatly influences the culture of the organization –
policies, uniform and rituals (meetings) can set out values for the organization and
really influence the culture positively
Management important in both profit and not for profit organisations! – allows org
and society to function effectively and proficiently
Need to keep up to date with changing world and workplace, be adaptive and
motivate employees to achieve high performance
Why important?
Great when they can motivate you professionally AND personally – aiming to be a
better person in all aspects of life
3 reasons
Knowledgeable, guides the organisation through uncertain, complex, challenging
times and keeps employees motivated to reach specific goals regardless of changing
environments around them
Control the activities and coordinate them. Make sure things are getting done and in
the right way – if not – need to evaluate and control to keep things on track
Their relationship with employees can keep them loyal and productive. The Gallup
Organisation polled millions of employees and tens of thousands of managers –
found that single variable most important to productivity and loyalty is relationship.
Need to inspire and engage. HAVE A POSITIVE & NEGATIVE EFFECT (depending on
how the manager approaches employees)
Coles – refer to pg 7 – Ian Mcleod who turned the business around
What is an organization?
Organization Deliberate Arrangement of people to
accomplish specific purpose
Every org has a specific purpose, and set of goals (vision and mission statement)
Sets them apart
Made of people – who can work together to ensure the organization can run to
meet objectives
Deliberate structure to ensure work relationships and expectations are clarified so
tasks can be undertaken
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Can be traditional or contemporary structure – old and structured, with more
authority in workplace relationships OR flexible job descriptions, more
communication channels, flatter structure.
Nature of organisations constantly change
Google and IKEA use more flat network based structure rather than hierarchical
structure where people report to others with more power.
People work together in teams.
Contemporary organisations like these rely on flexible work arrangements, employee
work teams, open communication and supplier alliances
Organisations constantly change because the world does – economy, societal, global,
technological (PELTS)
who are managers?
Government departments, hospitals etc
Top level senior, middle and frontline
Used to tell people what to do and how to do it, easy to distinguish.
With flatter structure and increased teamwork, lines are blurred and harder to
distinguish management from non-management as employees have the opportunity
to take on managerial roles – be team leaders, guide specific operations or
departments etc
Definitions used in the past no longer work
Manager Someone who coordinates and oversees
work of others so objectives can be met
Managers can be classified in structured organisations
Pyramid – traditional structure – first line (manage work of non managerial
employees, directly involved in producing products or delivering services), middle
managers (area manager for ex, store manager – between front and top), top
managers (organization wide decisions, strategic planning)
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