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ADM1300 Midterm: ADM 1300 Midterm 1 notes

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Gerard Brathwaite- Sturgeon

Chapter 1: Introducing Management Describe the current workplace environment in Canada  Work in the new economy is increasingly knowledge based, and people, with their capacity to bring valuable intellectual capital to the workplace, are the ultimate foundation of organizational performance  Organizations must value the talents and capabilities of a workforce whose members are increasingly diverse with respect to gender age race and ethnicity, able-bodiedness, and lifestyles  The force of globalization are bringing increased interdependencies among nations and economies as customer markets and resource flows create intense business competition  Ever-present developments in formations technology are reshaping organizations, changing the nature of work, and increasing the value of knowledge workers  Society has high expectations for organizations and their member’s to preform with commitment to high ethical standards and in socially responsible  Careers in new economy require great personal initiative to build and maintain skill “portfolios” that are always up to date and valuable to employees challenged by the intense competition and the information age Identify the characteristics of an organization  Organizations are collections of people working together to achieve a common purpose  As open systems, organizations interact with their environments in the process of transforming resource inputs into product and service outputs  Productivity is a measure of the quantity and quality of work performance, with resource costs taken into account  High preforming organizations are both effective in terms of goal accomplishment and efficient in terms of resource utilization Describe the dynamic forces that make up he general environment, who are the important organizational stakeholders, and what competitive advantage encompasses  The general environment includes background economic, socio-culture, legal-political, technological, and natural environment conditions  The specific environment or task environment consists of suppliers, customers, competitors, regulators, and other groups with which an organization interacts  Stakeholders are people and constituents affected by an organizations performance and for whom it creates value  Stakeholder analysis focuses on the extent to which an organization is creating value for each of its many stakeholders Identify who managers are and explain what they do  Managers directly support and facilitate the work efforts of people in organizations  Top managers scan the environment, create vision, and emphasize long term performance goals; Middle managers coordinate activates in large departments of divisions; Team leaders and supervisors support performance at the team or work unit level  Functional managers work in specific fields such as finance or marketing; General managers are responsible for larger multifunctional units; Administrators are managers in public or non-profit organizations  Managers are held accountable for performance results that the manager depends on other persons to accomplish  The upside down pyramid view of organizations shows operating workers at the top serving customers needs while being supported form below by various levels of management  The changing nature of managerial work emphasizes “being good” at coaching and supporting others rather than simply that am, directing and order giving Describe the management process and how managerial skills and competencies are learned  The management process consists of the four functions of planning, organizing, leading, and controlling  Planning sets the direction; Organizing assembles the human and material resources; Leading provides the enthusiasm and direction; Controlling ensures results  Managers implement the four functions in daily work that is intense and stressful, involving long hours and continuous performance pressure  Managerial success also requires the ability to use interpersonal networks to accomplish well selected task agendas  Managerial success in this demanding context requires the ability to preform well in interpersonal, informational, and decision-making roles  Careers in the new economy demand continual attention to lifelong learning from all aspects of daily experience and job opportunities  Skills considered essential for managers are broadly described as Technical l- ability to use expertise, Human - ability to work well with other people; Conceptual - ability to analyze and solve complex problems  Competencies considered as foundations for managerial success include communication, teamwork, self management, leadership, critical thinking and professionalism Chapter 2: Management Learning: Past to Present List the characteristics and principles of each of the three classical management approaches  Frederick Taylor’s four principles of scientific management focused on the need to carefully select, train, and support workers for individual task performance  Henri Fayol suggested managers should learn what are known as the management functions planning, organization, leading, controlling  Max Weber described bureaucracy with its clear hierarchy, formula rules, and well defined jobs as an ideal from of organization Describe the principles of the various behavioural management approaches  The behavioural approaches shifted management attention toward the human factor as a key element in organizational performance  Mary Parker Follet described organizations as communities within which people combine talents to work for a greater good  The Hawthorne Studies suggested that work behaviour is influenced by social and psychological forces and that work performance may be improved by better “human relations”  Abraham Maslow’s hierarchy of human needs introduced the concept of self-actualization and the potential for people to experience self-fulfilment in their work  Douglas McGregor urged managers to shift away from Theory X and towards Theory Y thinking, which views people as independent, responsible, and capable of self direction in their work  Chris Argyris pointed out that people in the workplace are adults and may react negatively when constrained by strict management practices and rigid organizational structures Explain the foundations of modern management thinking  Advanced quantitative techniques in decision sciences and operations management can help managers solve complex problems  Organizations are open systems that interact with their external environment, while consisting of many internal subsystems that must work together in a coordinated way to support the organization’s overall success  Contingency thinking avoids “one-best-way” arguments, instead recognizing the need to understand situational differences and respond appropriately to them  Quality management focuses on making total commitment to product and service quality throughout an organization, maintaining continuous improvement, and meeting worldwide quality standards such as ISO certification  Knowledge management is a process for developing, organizing, sharing, and using knowledge to facilitate organizational performance and create and environment for ongoing learning  Evidence-based management uses findings from rigorous scientific research to identify management practices for high performance Chapter 3: Global Dimensions of Management Explain what the management challenges are in going global  Global managers are informed about international developments and are competent in working with people from different cultures  The forces of globalization create international business opportunities to pursue profits, customers, capital, and low-cost suppliers and labour in different countries  Market entry strategies for international business include global sourcing, exporting and importing, and licensing and franchising  Direct investment strategies of international business include establishing joint ventures or wholly owned subsidiaries in foreign countries  General environment differences, including legal and political systems often complicate international business activities  Regional economic alliances such as NAFTA, the EU, APEC, and SADC link nations of the world with the goal of promoting economic development  The WTO is a global institution that promotes free trade and open markets around the world Define what a global business is and what things it undertakes  A global corporation or MNC is a business with extensive operation in multiple foreign countries  A transnational corporation tries to operate globally without a strong national identity and with a worldwide mission and strategies  MNCs can benefit host countries by offering broader tax bases, new technologies, and employment opportunities  MNCs can cause problems for host countries if they interfere in local government, extract excessive profits, and dominate the local economy  Ethics challenges facing MNCs include corruption, child labour and sweatshops, and sustainable development Explain what culture is and how it impacts global management  Culture is a shared set of beliefs, values, and behavioural patterns common to a group of people  Culture shock is the discomfort people sometimes experience when interacting with persons from cultures different from their own  Cultural intelligence is an individual capacity to understand, respect, and adapt to cultural differences  Hall’s “silent” languages of culture include the use of context, time, and interpersonal space  Hofstede’s five dimensions of value differences in national cultures are power distance, uncertainty avoidance, masculinity-femininity, individualism-collectivism, and time orientation Explain the benefits of developing global management skills  The field of comparative management studies how management is practised around the world and how management ideas are transferred from one country or culture to the next  Project GLOBE is an extensive worldwide study of management and leadership that identified country clusters that varied on nine cultural dimensions  Attitudes toward global management and global learning vary form Ethnocentric (home is best) to Polycentric (respect others but keep home paramount) to Geocentric (respect, value, and learn from others)  Because management practices are influenced by cultural values, global management learning must recognize that successful practices in one culture may work less in another Chapter 4: Ethics, Social Responsibility, and Sustainability Define Ethical Behaviour  Ethical behaviour is that which is accepted as “good” or “right” as opposed to “bad” or “wrong”  Because an action is not illegal does not necessarily make it ethical in a given situation  Because values vary, the question, “What is ethical behaviour”? may be answered differently by different people  The utilitarian, individualism, moral rights, and justice views offer alternative ways of thinking about ethical behaviour  Cultural relativism argues that no culture is ethically superior to any other, universalism argues that certain ethical standards apply everywhere Describe how ethical dilemmas complicate the workplace  An ethical dilemma occurs when someone must decide whether to pursue a course of action that, although offering the potential for personal or organizational benefit or both, may be unethical  Managers report that their ethical dilemmas often involve conflicts with superiors, customers, and subordinates over such matters as dishonesty in advertising and communications, as well as pressure from bosses to do unethical things  Common rationalizations for unethical behaviour include believing the behaviour is not illegal, is in everyone’s best interests, will never be noticed, or will be supported by the organization Explain how to maintain high ethical standards  Ethics training can help people better deal with ethical dilemmas in the workplace  Whistleblowers expose the unethical acts of others n organizations, even while facing career risks for doing so 
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