MGT 3200- Midterm Exam Guide - Comprehensive Notes for the exam ( 47 pages long!)
Document Summary
Control or in other words, denial ain"t just. Management is things done through other people; the process of achieving desired results through the efficient utilization of human and material resources. Effectiveness refers to doing the right things at the right time. Efficiency refers to minimizing waste or reducing resource costs. The two are related because efficient organizations tend to be effective. It is better for a company to be effective but inefficient than vice versa. Some managers suffer from a disease of injellitance which is incompetence and jealousy. Number 1 goal of manager is to develop talent. Management is both an art (practice) and science (academically) Equifinality- there are many different forms of management that can get good results. Platinum rule- treat others how they want to be treated. Happens during industrial revolution: there was an enormous increase in productivity, the skills of the craftsmen were transferred to machines. Efficient organizations tend to be effective ones as well.
