Introduction to Management Welcome to AB140 Introduction to Management Unit 2 Seminar Foundations of Management

Agenda General Questions and Announcements Introduction Macroenvironment of a Business Competitive Environment of a Business History of Management Theory Recap Unit Assignment Q & A Conclusion of Seminar

Introduction In Unit 2, we examine: The environmental forces that shape the business organization That the business organization is an open system, constantly exchanging information with both its macro environment and its competitive environment. Major management theories over time

Businesses are Open Systems In your view… What is meant by “open systems”?

Open Systems …means that businesses (like people) don’t operate in a ‘vacuum’. They affect and are affected by their environment. Ideas and people, things, products, etc. flow in and out of every organization. For those of you who took BU100 Introduction to Business, this is similar to what we called the “forces in the marketing environment”. For example the business is impacted by such outside forces as the economy, competitors, cultural and social norms, laws and regulations, even natural events (like hurricanes and weather patterns).

Competitive Environment and Macroenvironment We can break this idea of open systems down into two specific types of environments, as discussed in your readings: the Competitive Environment and the Macroenvironment.

Competitive Environment What makes up a business’ competitive environment: The firm Its Rivals Suppliers Customers New Entrants Substitute Complementary Products

Macroenvironment Laws and politics Economy Technology Demographics Social Issues There’s a visual of the external environment in your readings.

Questions?

Evolution of Management Theories There are four primary approaches of management thought: In chronological order: Classical (late 1800s) Behavioral (early 1900s) Systems (early-mid 1900s) Contingency (1960s…)

Assignment Questions There are 3 graded assignments in Unit 2. They are: Discussion Board: Discussion scenario: Marc has opened a 24-Hour fitness center in a fast-growing city. Before purchasing the franchise and starting his new business, Marc looked at the one other fitness center currently operating in that area. In the same general area are video game rooms, fast food restaurants, a sports bar, a golf driving range, a sporting goods store, and a bowling alley. Marc believes that the one fitness center forms his competition. Based on your reading of “Substitutes and Complements”, do you agree with Marc or disagree? Why or why not?

Dropbox Assignment For this assignment, you must watch the video presentation on the Evolution of Management. You will find the video in the course. After watching the video and viewing the timeline please complete your assignment. By explaining how the theories presented are different from one another, and… By stating which management theory you think is more important and why. Respond in a paper of at least one full double-spaced page in length, using size 12-point Times New Roman font. Submit your paper to the Unit 2: Assignment Dropbox.

Quiz Don’t forget that you can take the Quiz as often as you need to during the Unit Week prior to the Tuesday midnight deadline until you get the score that you desire.

Thank You for Attending! This concludes our seminar for Unit 2. I appreciate your taking the time out to join me and to invest in the concepts.

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