MGT101: LESSON 1

• Organizations


  People working together and coordinating their actions to achieve specific goals
• Goal


  A desired future condition that the organization seeks to achieve
• Management


  The process of using organizational resources to achieve the organization's goals by planning, organizing, leading, and controlling
• Organizational resources


  • People
  • Machinery
  • Raw materials
  • Information
  • Skills
  • Financial capital
• Managers


  The people responsible for supervising the use of an organization's resources to meet its goals
• Achieving high organizational performance


  • Provide a good or service desired by customers
  • Efficiently and effectively use resources to satisfy customers and achieve goals
• Efficiency


  A measure of how well resources are used to achieve a goal
• Effectiveness


  A measure of the appropriateness of the goals chosen and the degree to which they are achieved
• Managerial functions


  • Planning
  • Organizing
  • Leading
  • Controlling
• Planning


  1. Choose goals

  2. How should the goal be attained?

  3. How should resources be allocated?
• Organizing


  Creating the structure of working relationships between organizational members that best allows them to work together and achieve goals
• Leading


  Determining direction, stating a clear vision for employees to follow, and helping employees understand the role they play in attaining goals
• Controlling


  Evaluating how well the organization is achieving its goals and taking corrective action to improve performance
• Management levels


  • First-line Managers - day-to-day operations
  • Middle Managers - supervising first-line managers
  • Top Managers - responsible to all departments
• Downsizing


  • Eliminate jobs at all levels of management
  • Can lead to higher efficiency
  • Often results in low morale and customer complaints about service
• Empowerment


  • Expand the tasks and responsibilities of workers
  • Supervisors might be empowered to make some resource allocation decisions
• Self-managed teams


  • Give a group of employees responsibility for supervising their own actions
  • The team can monitor its members and the quality of the work performed
• Managerial roles


  • Interpersonal
  • Informational
  • Decisional
• Interpersonal roles


  • Figurehead role
  • Leader role
  • Liaison role
• Informational roles

  • Monitor role
  • Disseminator role
  • Spokesperson role
• Decisional roles

  • Entrepreneur role
  • Disturbance handler role
  • Resource allocator role
  • Negotiator role
• Managerial skills


  • Conceptual skills
  • Human skills
  • Technical skills
• Skill type needed by manager level

  Top managers need more conceptual skills

  Middle managers need a balance of skills

  Line managers need more technical skills
• Management challenges


  • Increasing number of global organizations
  • Building competitive advantage through superior efficiency, quality, innovation, and responsiveness
  • Increasing performance while remaining ethical managers
  • Managing an increasingly diverse work force
  • Using new technologies