Welcome to the Class!

MGMT 321: Managing Organizations

Dr. Sang-M. Lee

Overview

Introductions Syllabus Blackboard Will Form Teams by Tomorrow! Introductory Essay due on Wednesday!

Course objectives

Strategic management skills Decision-making skills Organization skills Ethical awareness skills Interpersonal and team skills Exposure to the key areas of upper division management class

Instructional philosophy
1. 2. 3. 4. 5. Management (strategy) is an art, not a science. We are creating a learning community with this class. We will all take personal responsibility for learning. We will arrive in class fully prepared to discuss the topic under study. We will be understanding of others in classand attempt to learn as much as possible from our diversity. We will be governed by a spirit of inquiry and debate. We will maintain high performance standards. No surprise!- transparency and predictability.. We will endeavor to have some fun - Dont take things personally.

6. 7. 8. 9.

Learning strategy
1. Parallel learning tracks: Simultaneous focus on management theories + application using cases. 2. Teaching notes and textbook as a starting point. 3. Lectures and discussions. 4. Video and case applications. 5. In-class discussions & write-ups. (Bring to each class!) 6. Team project 7. One quiz and two (cumulative) exams!!! - Wow!

Summary game plan

Learn something useful Develop new skills Keep it interesting Have some fun

Why take this class?

Consider two questions:

1. What do companies need to succeed in todays competitive economic environment? 2. How can you help them to succeed?

Consider: The challenge to companies

In the real world: Most people want to buy high quality products at low prices. The myth of social responsibility. As a result, competitive pressures are growing on firms. Faster, better cheaper. Lead, follow, or get out of the way. It is managements responsibility to make this happen. (Thats you.) What is the right balance for you? What is ethical for you?

1. What do companies need to succeed today?

1. Continuously break conventional wisdom. 2. Organize themselves to be nimble competitors in the global marketplace. 3. Understand and respond to global competitive realities. 4. Create new desire from the customers and tailor products and services to fit this new demand. 5. Manufacture their products in the most advantageous locations and deliver them to targeted markets anywhere in the world. 6. Hire and develop employees who can outperform the competition.

2. What do you need to know to help companies succeed in this innovative environment?
1. Solid understanding on the conventional management theories. 2. Figure out the key features of the new competitive environments. 3. Integrate and apply this ideas to the innovative business environments. 4. Evaluate various innovative approaches on this area. 5. Suggest key success factors for your company.