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MGM101H5 Study Guide - Final Guide: Transact, Contingency Theory, Operations Management


Department
Management
Course Code
MGM101H5
Professor
Dave Swanston
Study Guide
Final

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Introduction To Management
Management: art of getting things done through people
Functions of Management
Planning: formal process whereby managers choose goals, identify actions,
allocate responsibility for implementing actions, measuring success of actions,
and revising plans
Strategizing: process of thinking through on a continual basis what strategies an
organization should pursue to attain its goals
Organizing: Who will perform the task? Where will decisions be made? Who
reports to whom? How will different parts of the organization fit together to
accomplish goal?
Controlling: process of monitoring performance against goals, intervening when
goals are not met, and taking corrective action
Leading: process of motivating, influencing, and directing others in organization
to work productively in pursuit of organization goals
Developing: task of hiring, training, mentoring, and rewarding employees in
organization, including other managers
Managers
Give organizations a sense of purpose and direction
Create new ways of producing and distributing goods and services
Change how the world works through their actions
General Managers: responsible for overall performance of an organization or
one of its major self-contained subunits or divisions
Functional Managers: responsible for leading a particular function or subunit
within function
Frontline Managers: manage employees who are not managers

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Managerial Roles: specific behaviors associated with task of management
Interpersonal roles: involve interacting with other people inside and outside of
organization
Figureheads: greet visitors, represent the company at events, serve as
spokespeople
Leader: influence, motivate, and direct others as well as strategize, plan,
organize, control, and develop
Liaison: connect w/people outside their immediate unit
Informational roles: concerned with collecting, processing, and disseminating
information
Decisional roles: deals with real action; translates people and information into
processes with purpose of moving organization towards its strategic goals
Entrepreneur: managers must make sure their organizations innovate,
change, develop, and adopt
Disturbance handler: address unanticipated problems as they arise and
resolve them expeditiously
Resource allocator: how to best allocate scarce resources
Negotiator: negotiation is continual for managers
Manager’s Roles Are Evolving New Approaches: Why?
Global Competition
Business Scandals
Constant Change
Better Educated Workers
Downsizing/Rightsizing
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-Managers must practice the art of getting things done through organizational
resources
-human resources (e.g. employees)
-natural resources (e.g. raw materials)
-financial resources (e.g. money)
Becoming a Manager
From specialist to manager
Begins when people are successful at a specialist task that they were
hired to do
Need to be able to get things done through other people
Mastering Job
Tends to be a large difference between expectation and reality
Tremendous workload
Biggest challenge within first year= “people challenges”
Managerial Skills
Conceptual Skills: ability to see the big picture
Technical Skills: skills that included mastery of specific equip. or following
technical procedures
Human Skills: abilities to communicate, persuade, manage conflict, motivate,
coach, negotiate, and lead
Managerial Values
Values: stable, evaluative beliefs that guide our preferences for outcomes or
courses of action in a variety of situations
Enacted Values: values that actually guide behavior
Espoused Values: what people say is important to them
Shared Values: values held in common by several people
Managerial Motivation
Desire to compete
o Motivated to compete for their jobs (promotions)
Desire to exercise power
o Motivated to seek power
Desire to be distinct
o Allows them to act neutrally
o Act as guides and role model
Desire to take action
o Motivating employees
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