Organization - A group of people working together in a structured and coordinated fashion to achieve a set off goals.
Profit making, non-profit making, public, private.
Stake holders - group of people who are interested in the business of the organization
External, internal, both
Management – Process of using human, financial, physical and information resources of the organization in effective and efficient way by going through planning, organizing, leading and controlling them to achieve organization’s goals and objectives.
The purpose of management is utilizing resources wisely and in cost effective way (efficiently) and make right decision and implement them ...view middle of the document...
Resource allocator role : assign resources between functions and divisions, set budget of lower managers.
Negotiator role: seek to negotiate solutions between other managers, unions, customers or share holders.
Conceptual skills: Analyze - diagnose -cause and effect
Human skills: understand – alter- lead - control behavior
Technical skills: the job-specific knowledge
Interpersonal, diagnostic, Communication, decision making, time management
Globalization , building competitive advantage, increasing performance-remaining ethics, diversity of work force , utilizing IT and E commerce.
The Evaluation of Management theories
• Bureaucratic Management
• Scientific Management - reduce the time a worker spent on each task by optimizing the way the task was done – study one best way [4 principles]
• Administrative Management – Henry Feyol believed managers could be taught to become successful, once they understand the basic functions and principles of management.
• Behavioral Management – Hawthorne studies
• Management Science Theory
o Quantitative approach - Focuses on improving managerial decision making by applying Statistics, optimization models, information models, and computer simulations
o Operational Management
o Total Quality Management (customer, continual improvement, processes, quality )
• Organizational Evolutional Theory
Organizational Behaviour - The study of the factors that have an impact on how individuals and groups respond to and act in organizations
Theory X and Y
• Theory X: Assumes the average worker is lazy, dislikes work and will do as little as possible.
Managers must closely supervise and control through reward and punishment (authoritarian style).
• Theory Y: Assumes workers are not lazy, want to do a good job and the job itself will determine if the worker likes the work.
Managers should allow the worker great latitude, and create an organization to stimulate the worker(participative...