1 MGTO120 Mid-term Exam Jun. 21, 2:00pm, RM2503

2 Course Overview - A Big Picture & Where We Are Management (Robbins & Coulter) Part 1 Basic Concepts (Ch1) Part 2 Context (ch3-5) Part 1 Retrospect (ch2) Part 3 Planning (ch6-9) Part 4 Organizing (Ch10-13) Part 5 Leading (Ch 14-17) Part 6 Controlling (Ch 18,19) What we will cover in exam

3 MANAGEMENT? ORGANIZATION?  Process of coordinating work activities so that they are completed efficiently and effectively with and through other people

4 POLC IID CHT WHAT DO MANAGERS DO? Three categorization schemes:  Management Functions (POLC)  Management Roles (IID)  Management Skills (CHT)

5 Ch. 2 Evolution of Management Historical Background Scientific Management General Administrative Theorists Quantitative/system /contingency Approaches Management Theories Industrial Revolution Adam Smith Early Advocates Hawthorne Studies Organizational Behavior Early Examples of Management

6 Organizational Culture –A system of shared meanings and common beliefs held by organizational members that determines, in a large degree, how they act towards each other. –“The way we do things around here.” Values, symbols, rituals, myths, and practices –Implications: Culture is a perception. Culture is shared. Culture is descriptive.

7 Exhibit 3.2 Dimensions of Organizational Culture TOPASIATOPASIA

8 Sources and continuation of the Organizational Culture

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10 National culture  Individualism versus Collectivism  Power Distance  Uncertainty Avoidance  Quantity versus Quality of Life  Long-term versus Short-term Orientation

11 Global Organizations and Globalization  Multinational Corporation (MNC)  Transnational Corporation (TNC)  Borderless Organization

12  Classical view vs. Socioeconomic view  Organizational Stakeholders Business Ethics – IMPORTANT

13 From Obligation to Responsiveness to Responsibility Levels of social involvement: Social Obligation Social Responsibility Social Responsiveness e.g. Johnsons & Johnsons – Tylenol e.g. Café de Coral – non-smoking areas e.g. Tobacco manufacturers – health warning on the packing

14 Factors That Affect Ethical and Unethical Behavior

15 JUSTICE (practical, by John, not in text) a model of Ethical Decision criteria 1. J ustice: all follow same rule 2. U tilitarianism: greatest good 3. S piritual values: do unto others as you would want them to do to you 4. T V rule: defend openly on TV 5. I nfluence: any influence of your action? 6. C ore: important to you, your core values 7. E mergency: urgency of situation Remember “Sadhu”??

16 Exhibit steps in the Decision- Making Process

17 Bounded Rationality –Managers make decisions rationally, but are limited (bounded) by their ability to process information. –Assumptions are that decision makers: Will not seek out or have knowledge of all alternatives Will satisfice —choose the first alternative encountered that satisfactorily solves the problem—rather than maximize the outcome of their decision by considering all alternatives and choosing the best. More reasonable assumptions? This helped Herbert Simon and his buddy get a Nobel Prize

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19 2. How long is the Chang Jiang River??

20 Exhibit 6.14 Overview of Managerial Decision Making

21 Planning A primary functional managerial activity that involves: Defining the organization’s goals Establishing an overall strategy for achieving those goals Developing a comprehensive set of plans to integrate and coordinate organizational work. SMART goals  Specific  Measurable  Achievable (but not easy)  Realistic  Time-anchored

22 MBO: Cascading of Objectives Organizational Objectives Divisional Objectives Departmental Objectives Individual Objectives The XYZ Company Consumer ProductsIndustrial Products DevelopmentResearchMarketing Customer Service SalesProduction Key Elements of MBO?

23 Exhibit 8.1 The Strategic Management Process

24 Exhibit 8.4 Levels of Organizational Strategy

25 Exhibit 8.5 The BCG Matrix 明星问号 金牛 瘦狗

26 Exhibit 8.6 Forces in the Industry Analysis Michael Porter Three Competitive Strategies?