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MGM 101 Test #1.docx

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University of Toronto Mississauga
Dave Swanston

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 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 -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 Leaders versus Managers Skilled Leaders  Drive strategic thinking  Have plan for organization  Proactively structure the organization  Exercise control with a deft hand  Use right kind of incentives  Gets the best out of people  Build a high-quality team Stakeholders Inner circle: transact with the firm on a regular basis and have an important stake in how it operates Outer circle: do not transact with the firm on a regular basis but still have a stake in how it operates Introduction To Management Functions & Evolution of Management Theory Classical approaches to management Assumption: People are rational  Scientific management o F.W. Taylor o Systematic study of relationship between people and tasks for the purpose of redesigning the work process to increase efficiency o Principle 1: Study the way workers perform their tasks, gather informal job knowledge that workers possess, experiment with ways of improving way tasks are performed o Principle 2: Codify new methods of performing tasks into written rules and standard operating procedures o Principle 3: Carefully select workers so that they possess skills and abilities that match the needs of the task, and train them to perform the task according to established rules and procedures o Principle 4: Establish fair or acceptable level of performance for task, and then develop a pay system that provides a reward for performance above acceptable level  Administrative principles o Henri Fayol o Study of how to create an organizational structure that leads to high efficiency and effectiveness  Bureaucratic organization o Max Weber o Formal system of organization and administration designed to ensure efficiency and effectiveness o Principle 1: Manager’s formal authority derives from position he/she holds in the organization (not wealth, social status…)
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