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Chapter 1-3

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Department
Management
Course
MGM101H5
Professor
Dave Swanston
Semester
Fall

Description
Chapter 1: Management  What is management?  Management is the art of getting things done through people within an organization What are functions of management?  • Planning • Organizing  • Leading • Controlling  What are planning and strategizing?  Planning is when managers make goals and strategies Strategizing is how the organization can attain the goals by using strategies  What is organizing? Who reports to who, who does what, different subsections   What is controlling?  Monitoring goals, interfering when they are met and fixing the problem or finding and alternative What is leading and developing employees? Leading is motivating, directing others to work productively to attain company’s goals.  Developing employees is training, hiring, monitoring and giving benefits to them.  What are the types of managers? • Corporate –level General managers o CEO managers leads the company, decide and execute plans, maintain relationships with  shareholders o Controls and influences divisions • Business­level general managers o Divisions heads, responsible for motivating, influencing and directing subordinates o Implement goals within division • Functional managers o Below general managers, heads of certain functions withing divisions o Important details to GMs • Frontline managers o Manage employees who themselves are not managers  o Critical for performance of company How to become managers from a specialist?  To  a manager people need to specialize in a field within the company. IF successful they will continue  on.  How to master the job?  Influence employees positively, ensure trust and credibility within them Create an agenda and make networks in and out of company What are the managerial roles?  • Interpersonal o Interacting with people inside and outside the organization o Figurehead, Leadership, Liason • Informational o Collecting, processing information o Monitor, Disseminating, Spokesperson • Decisions  o Makes decisions to get the organization to satisfy its goal o Entrepreneur, Disturbance handler, Resource Allocation, Negotiator What are management competencies?  Skills, values, motivational preferences that are used to influence others  What are the managerial skills?  • Conceptual o Seeing the big picture • Technical o Perform specific activities • Human o Human skills  What are managerial values? Values that affect employees • Enacted – Guide behaviour • Shared – Shared values • Espoused – What people say is important  What are managerial motivations?  • Desire to be different • Desire to exercise power • Desire to take action • Desire to compete for management positions  What are stakeholders?  Individuals, institutions, or community that has a stake in the organization in how it does business What is the relationship between stakeholders and organization? Have exchange relationship with organization.  If managers don’t take stakeholders in account they will withdraw their support  Chapter 2: The Evolution of the MGMT Theory Explain the Scientific Management Theory Adam smith • Craft­style: each employee is responsible for all tasks to produce good • Job specialization: each employee specializes in a certain task to produce good.  F.W Taylor
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