Unit 1: Management Today Chapter 1: The Dynamic New Workplace

The New Economy! There are 6 main challenges of working in the new economy. They are: Intellectual Capital—the collective brainpower or shared knowledge of a workforce that can be used to create value. A knowledge worker adds to the intellectual capital of an organization. Eg. A computer technician is knowledgeable and will add value to a company integrating new technology

Globalization—is the worldwide interdependence of resource flows, product markets, and business competition that characterize the new economy. National boundaries have disappeared. Technology—there is a continuous transformation of the modern workplace through the Internet, WWW, Computers, and Information Technology. There is a high demand for knowledge workers with the skills to use this technology.

Diversity—workforce diversity reflects differences with respect to gender, age, race, ethnicity, religion, sexual orientation, and able-bodiedness. Ethics—society requires businesses to operate according to high moral standards. Code of moral principles and/or conduct. Careers—the careers in the 21st century won’t be uniformly full-time and limited to a single large employer. Therefore, skills must be portable and always of current value.

Organizations and their Managers What is an organization? A collection of people working together to achieve a common purpose To be classified as an organization, a business entity must satisfy these characteristics: 1-Purpose- to create a good and/or service 2-Division of Labour- different tasks assigned to different people 3-Hierarchy of authority- a level by level management structure of increasing responsibility

Using the three characteristics in the slide before, prove that these companies are in fact a form of an organization. McDonalds Sports Team Family

Organizational Systems Organizations are open systems that interact with their environments. Examples of Feedback--

Managers What is a manager? A person who is responsible for the work of others Examples—CEO, supervisor, plant manager Must co-ordinate human resources with material resources (information, raw materials) to produce goods and services A manager’s responsibility is to obtain the highest level of performance for the least amount of inputs Is a person that has the ability to get the most out their employees, makes them want to be better.

Managerial Levels Upper Management Middle Management Lower Management

Upper Management responsible for performance of an organization as a whole or for one of its larger parts. establishes organizational objectives (Long Term) Examples: CEO, CFO, VP

Middle Management Interpret direction from above and pass it on to those beneath them. Report to top managers while being in charge of relatively large departments or divisions. Examples: Department Heads, Plant Manager, Human Resources

Lower Management someone in charge of a small work group composed of non-managerial workers. Examples: Supervisor, Fore person, Assistant Manager

Glass Ceiling Effect: An invisible barrier limiting career advancement of women and minorities.

Types of Managers Line………………………...vs… Their work directly contributes to productions Examples: supervisors, CEO, plant manager. Staff Work in specialized areas such as marketing, accounting, human resources, legal departments...

Work for profit organizations (making money) Administrators Managers…………….…..vs… Work for profit organizations (making money) Administrators Work for non-profit or public organizations. Examples: Principal, Hospital Administrator

Responsible for a single area Examples: General Functional……………..…vs… Responsible for a single area Examples: accounting, engineering, marketing, human resources. General Responsible for complex areas - department store manager. (many different departments to oversee)

Lets see if we get it??

Managerial Roles 1-Planning: setting goals and how they will be met 2-Controlling: monitoring achievement 3-Organizing: arranging people, tasks, responsibilities, and resources 4-Leading: inspiring and motivating

Managerial Skills Technical skill Human skill Conceptual skill the ability to apply a special proficiency or expertise to perform particular tasks. E.g.- Human skill the ability to work well in cooperation with others. E.g. Conceptual skill the ability to think critically and analytically to solve complex problems.