Professional Documents
Culture Documents
MANAGING/MANAGEMENT
WHAT IS A MANAGER?
A person who supports and is responsible for the work of others Help people achieve high performance
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Max Weber Bureaucracy: rational and efficient form of organization founded on logic, order, and legitimate authority Clear division of labour, formality, etc.
DECISION MAKING
The process of making choices among alternative courses of action
Storming: stage of conflict over tasks and working as a tetam Norming: stage of consolidation around task and operating agendas Performing: stage of teamwork and focused task performance Adjourning: stage of task completion and disengagement
L EADERSHIP
Leadership: the process of inspiring others to work hard and accomplish important tasks Visionary leadership- brings to the situation a clear sense of the future and an understanding of how to get there Leadership traits: drive, confidence, creativity, business knowleddge, motivation, flexibility
LEADERSHIP STYLES
Recurring patterns of behaviours exhibited by leaders Important are concern for task and concern for people (task orientation./orientation)
CLASSICAL APPROACHES
Autocratic: task over people Laissez-faire: high group concern Democratic: combination of the two
CONTINGENCY APPROACHES
Fielders Contingency Model o Leadership style is part of personality and therefore cant change o Quality of leader-member relations o Degree of task structure o Amount of position power Hersey-Blanchard o Based on maturity aka readiness o 4 behaviours: Delegating- group takes responsibilities for decisions, low task, relationship Participating- shared ideas, low task, high-relationship Selling- explaining task directions in support, persuasive way high task, high relationship Telling- giving specific instructions, high task, low relationship Houses Path-Goal Leadership Theory o Directive- let subordinates know what is expected o Supportive- make work more pleasant o Achievement oriented- setting challenging goals o Participative- involving subordinates in decision making Vroom Jago o decide alone, consult individually, consult with group, facilitate (group discussion/share problem), delegate Druckers old fashioned leadership o Plain hard work is needed to be a leader Path-Goal Leadership Theory o Managers should use leadership styles that fit situational needs
C OMMUNICATION
COMMUNICATION PROCESS
Process of sending and receiving symbols with meanings attached to them Sender encodes intended meaning through a message/channel to a receiver who decodes it and sends feedback
EFFECTIVE COMMUNICATION
Intended meaning is fully understood by the receiver Efficient communication: occurs at minimum cost in terms of resources expended
COMMUNICATION BARRIERS
Noise: anything that interferes with the communication process Poor choice of channels o Channel is the medium through which a message is conveyed o Written, spoken o Channel richness: the capacity of a communication channel to carry information effectively Failure to recognize non-verbal signals Physical distractions Status effects o Filtering: intentional distortion of information to make it appear favourable to the recipient
PERCEPTION
Process through which people receive, organize, and interpret information from the environment Perception exerts its influence through attribution which is the process of developing explanations for events o Attribution error: overestimates internal factors and underestimates external factors as influences on someones behaviour (someone blaming another thing instead of themselves) o Self-serving bias: blaming external factors for failures and explaining success by internal causes Perceptual tendencies and distortions o Stereotypes o Halo effects: when one attribute is used to develop an overall impression of a person or situation o Selective perception: tendency to define problems from ones own point of view o Projection: the assignment of personal attributes to other people
C ONFLICT M ANAGEMENT
Disagreement over issues of substance/emotional antagonism Substantive conflicts: involves disagreements over goals, resources, rewards, policies, procedures, and job assignments Emotional conflicts: results from feelings of anger, distrust, dislike, fear, and resentment as well as personality clashes Functional conflict- constructive and helps task performance Dysfunctional conflict: destructive and hurts task performance Caused by: o Role ambiguities o Resource scarcities o Task interdependencies o Structural differentiation (differences in organization structures/characteristics of people staging them) o Unresolved prior conflicts Conflict resolution the removal of the substantial/emotional reasons for conflict
P LANNING
BENEFITS OF PLANNING
Improves focus/flexibility o Organization with focus: does what it knows best o Individual with focus: knows where he/she wants to go o Organization with flexibility: adapts to shifting circumstances o Individual with flexibility: adjusts career plans to fit new and developing opportunities Improces action orientation Improves coordination o Means-end chain, lower level objectives help accomplish higher-level ones Improves time-management Improves control
TYPES OF PLANS
Short range plans: one year or less Intermediate: one to two years Long range plans: three or more years into the future Strategic plans: set broad, comprehensive, long-term action directions Operational plans: identifies activities to implement strategic plans o Production, financial, facilities, marketing, human resources Policies and procedures o Policy: standing plan that sets broad guidelines o Procedure: sets exactly what should happen in specific situations Budgets and Projects o Budget- single-use plans that commit resources to activities, projects or programs Fixed- fixed amount for specific purpose Flexible- allows for allocation to vary in proportion with various levels of activity Zero-based: deals with every new budget period as if it were new (no guarantee of renewal) o Projects- one time activities that have clear beginning and end points o Project management: involves making sure that activities required to complete a project are fulfilled
S TRATEGIC M ANAGEMENT
STRATEGY
Comprehensive action plan that identifies long term direction for an organization and guides resource utilization to accomplish goals with sustainable competitive advantage Strategic intent: focuses and applies organizational energies on an unifying and compelling goal Strategic management: process of formulating and implementing strategies o Oligopoly environment: contains a few players who compete against one another o Environment of hypercompetition: several players compete against one another o Strategic formulation: the process of creating strategies o Strategic implementation: the process of allocating resources and putting strategies into action
STRATEGY FORMULATION
SWOT o Identify core competencies: special strength that gives and organization a competitive advantage Porters Five Forces o Industry competition o New entrants o Suppliers o Customers o Substitute products Porters Generic Stratgies o Differntiation: organizations makes its product seems different from competition (cola/pepsi) o Cost leadership- direct attention towards cost minimization to operate more efficiently (Presidents Choice Cola) o Focused differentiation- find a niche/offer a completely unique product (Canada Dry) o Focused cost leadership- find a niche and offer the lowest cost (red cherry pop) BCG Matrix o Analyzes business opportunities according to market growth rate and market share Stars: high market share/high business growth Cash cows: high market share/low business growth Question marks: low market share/high business growth Dogs: low market share/low business growth