MAN501

• Effective


  Producing the desired outcome
• Efficient


  Production of outcome relative to input
• Key management skills


  • Technical skills (expertise)
  • Human relations skills
  • Conceptual skills (analysing and forecasting)
• Management by objectives (MBO)

  1. Goals for an employee for a time period are jointly agreed on

  2. Manager removes barriers during the period

  3. Rewards for meeting goals are given
• MBO is used for 'results-based' jobs where performance can be objectively quantified and measured. E.g., $, output, etc.
• Planning


  The first and most important function of management
• Types of plans for different levels of traditional organisations

  • Strategic plan
  • Operational plan
  • Tactical plan
  • Contingency plan
• SMART goal


  A goal that is Specific, Measurable, Achievable, Relevant, and Time-bound
• The most important implication of planning for management is MBO
• Agile planning is on the rise
• Planning Process


  1. SWOT Analysis (Data Mining)

  2. Mission, vision, goals/objectives (Top management: Predicting & Directing)

  3. Strategy (Business manager: Implementing)

  4. Monitoring and control (First-line Manager: Monitoring and control)
• Comparison of Plans


  • Strategic Plan (Long term, Directional, Stable, weatherproof)
  • Operational Plan (Short term, Day-to-day actions, Monthly adjustable)
  • Tactical Plan (Outcome-oriented)
  • Contingency Plan (Deal with unexpected changes, Scenario-based, Adjustable during use)
• Types of Strategy


  • Corporate strategy: Which business?, How to Excel?
  • Business strategy: Cost leadership, Differentiation, Focus
  • Functional strategy: Departmental functional responsibility
• Job specialization


  At the individual level
• Departmentalization


  At the organizational level
• Advantages of Departmentalization


  • Functional (Easy to understand, Clarity of responsibilities, Efficiency, Coordination within the functional area)
  • Product (Specialisation in particular products/services, Managers can be experts in their industry, Closer to customers)
  • Customer (Customers' needs and problems can be met by specialists)
  • Process (More efficient flow of work activities)
• Disadvantages of Departmentalization


  • Functional (Poor communication across functional areas, Limited view of organisational goals)
  • Product (Duplication of functions, Limited view of organisational goals)
  • Customer (Duplication of functions, Limited view of organisational goals)
  • Geographical (Duplication of functions, Can feel isolated from other organisational areas)
• Chain of command


  The authority relationships among people at different levels of the organisation
• Unity of command


  Reporting to one boss
• Matrix structure


  Employees from different functional areas form teams to combine their skills in working on a specific project/product
• Span of control


  The number of employees who can be effectively and efficiently supervised by a manager
• Factors affecting span of control


  • Skills and abilities of the manager
  • Employee characteristics
  • Characteristics of the work being done: similarity of tasks, complexity of tasks, physical proximity of subordinates, standardization of tasks
• Hierarchical vs Flat Structure

  • Hierarchical Structure (Communication: Simplification and abstraction of information at each level, Authority & Delegation: Clear chain of demand, Job design: Clear responsibilities, Organisational culture: Top-down process assures uniform goals and vision)
  • Flat Structure (Communication: Direct communication, Authority & Delegation: Employee empowerment, Job design: Team-based projects, Organisational culture: Coordination and collaboration being prioritised)
• Disadvantages of Hierarchical Structure


  • Communication: Omitted information could be important, Communication breakdown between departments

  Authority & Delegation: Discourages different ideas/voices, Rigidity

  Job design: High cost of redesigning and re-organising the jobs

  Organisational culture: Difficulty of advancing one's career, Bureaucracy
• Disadvantages of Flat Structure


  • Communication: Time consuming

  Authority & Delegation: Heavy reliance on self-management, Lack of direction

  Job design: Change of team/project may require updating members' skills/knowledge

  Organisational culture: Risk of developing a hidden hierarchy when individual success is heavily rewarded
• Team development process can also be: 4 – 3 – 2 – 1
• Planning Process:

  •SWOT Analysis ( Data Mining ) ->

  •Mission, vision, goals/objectives ( Top management: Predicting & Directing ) ->

  • Strategy ( Business manager: Implementing ) ->

  •Monitoring and control ( First-line Manager: Monitoring and control )
• SMART Goals:

  
  

  Specific ( Clear on what you want to accomplish )

  Measurable( Goals should be quantifiable )

  Achievable ( Goals shouldnt too easy/hard. Set ambitious, realistic target )

  Relevant ( Target should align with business goals )

  Time-Bound ( Set a time frame/Clear deadline )
• Fill in the blank

  A) Operational

  B) Deal with unexpected changes

  C) Outcome-oriented

  D) Stable, weatherproof

  E) Adjustable during use