An Overview of Management Chapter 1 An Overview of Management © 2015 YOLO Learning Solutions
The Nature of Management Management is concerned with using the resources of the organization to reach the organization’s objectives. Management’s purpose is to use these resources effectively and efficiently so that the objectives of the organization are achieved with a minimum of cost. Management activities share some common characteristics: All activities occur within the context of an organization. Managers are in charge of the organization’s resources— people, equipment, finances, data—and of using these resources to help the organization reach its objectives. © 2015 YOLO Learning Solutions
The Impact of Management Because management is essentially a decision-making process, it affects others. Management is characterized by leadership, decision making, and the implementation of work tasks. The consequences of a manager’s decisions may have either a positive or negative effect on the manager, the manager’s subordinates, and the organization, as well as other groups—stakeholders. © 2015 YOLO Learning Solutions
© 2015 YOLO Learning Solutions
© 2015 YOLO Learning Solutions
The Functions of Management Planning: Determining what the organization will accomplish and deciding how to accomplish these goals Organizing: Designing jobs for employees, grouping these jobs together into departments, and developing working relationships between organizational departments and employees to carry out the plans Leading: Influencing others’ activities to achieve set goals Controlling: Ensuring that an organization’s actions lead to achievement of its objectives © 2015 YOLO Learning Solutions
© 2015 YOLO Learning Solutions
© 2015 YOLO Learning Solutions
Management Decision Making All managers engage in the decision-making process: Gathering information Using information to reach a decision Implementing the decision © 2015 YOLO Learning Solutions
Management Roles Henry Mintzberg described ten specific management roles that can be placed into three broad categories: Interpersonal roles involve interaction with others who are external or internal to the organization, at the same level as the manager, or at higher or lower levels. Informational roles focus on obtaining data that are important for the decisions the manager makes. Decisional roles deal primarily with the allocation of resources to reach organizational objectives. © 2015 YOLO Learning Solutions
© 2015 YOLO Learning Solutions
Management Skills General skills: Specific skills: Interpersonal skills Technical skills Conceptual skills Specific skills: Job knowledge Tolerance of stress Oral communication Negotiation Persuasiveness Assertiveness Problem analysis Initiative Cooperativeness © 2015 YOLO Learning Solutions
Situational Differences in Management Activities The specific job activities of managers differ greatly both among and within organizations because of differences in: The level of management The area of management Organizational size Organizational culture Industry Whether the organization is for-profit or nonprofit © 2015 YOLO Learning Solutions
© 2015 YOLO Learning Solutions
© 2015 YOLO Learning Solutions
Emerging Trends in Management Three major trends are impacting businesses today: Electronic business (e-business): Achieving management goals through the use of the Internet Global organizations: Expanding business activities beyond national boundaries Ethics and social responsibility: Leadership in promoting ethical and socially responsible business decisions © 2015 YOLO Learning Solutions
Can You Learn Management in Class? Some aspects of management can be learned in formal classroom situations. Learning management in this format can help you understand: Sources of information and relationships among variables Basic principles to use in decision making Fundamentals of implementing decisions Job knowledge relevant for specific functional areas of an organization and the requisite interpersonal skills can most effectively be learned in one’s unique working environment. © 2015 YOLO Learning Solutions