MGT 3200 Chapter : Jan 19 MGT
Document Summary
Invitation to management process: definition of management: getting things done through other people. You"re only as good as the people that work for you. It"s a resources (there"s also financial and informational resources) Management is the process of achieving desired results through the efficient utilization of human and material. Two key concerns of management: effectiveness and efficiency. Effectiveness= doing the right things @ right time. Efficiency = minimizing waste or reducing resource costs. Typical poor managemnt: effectiveness achieved through inefficiency. Research shows efficient organizations tend to be effective. The more you become concerned about efficiency, the harder it is to be effective, because you must cut cost. Everyone has a jaguar you: what"s happening to cost, from previous slide ford"s actions were: ineffective but efficient. Company that is effective but inefficient (right things not so well) A company that is ineffective but efficient (wrong things really well)
