1. What is management? Is it an art or science?
Managing is the art of getting things done through and with people in formally organized groups. It is the art of creating an environment in which people can perform as individuals and yet co-operate towards the attainment of group goals.”
Harold Koontz

2. Importance of management
The success or failure of business organizations, public sector services, government institutions and so on, often depends on the quality of their management.

3. Adjectives related to management styles Which of these adjectives describe managers, entrepreneurs or both?
assertive,authoritive and ruthless
ready to take risks
group oriented
decisive
intuitive
rational
efficient
analytic
cautious and careful
individualistic
good at listening people
competent
persuasive
good at motivating
good at leading others

4. set motivate communicate work out measure form analyse select
Managers have to:
objectives
how to achieve them
effective teams
people
their staff
the performance
activities
objectives to the people

5. What are top managers in charge of?
1. take responsibility for innovation
2. develop and maintain good relations with customers, suppliers, bankers, government agencies etc.
3. deal with major crises
4.manage a business’s social responsibilities (e.g. environment)

6. Reading: MK, p.18, 2a
Is Robert Cringely’s description of IBM working culture positive or negative? Explain your point of view.
True or false?
IBM’s corporate management pays more attention on management than on selling their products.
IBM’s managers do not do the work of designing but organize and supervise people who do it.
IBM’s products are as cheap and good as similar products.
IBM does not have an extensive hierarchy.

7. Theories of motivation: Douglas McGregor
Theory X- traditional approach to workers
People dislike work
Try to avoid it whenever it is possible
Workers have to be threatened and rewarded
Most workers are incapable of taking responsibilities
MK, p.3o 1d:Summarizing
Theory Y – more “progressive”
People have a psychological need to work
they want to take responsibility
they want achievement
Managers should help workers do their best

8. Theory Y It makes greater demands on workers and managers.
Abraham Maslow: demands of theory Y are excessive for many people.
(excessive, adj = greater than what seems reasonable or appropriate)
Many people need protection against the burden of responsibility – even strong people.

9. Theories of motivation: Abraham Maslow
Hierarchy of needs (five levels of the pyramid):
self-actualization
self-esteem
love /belonging
safety
physiological
The three lower needs at the bottom of the pyramid have to be achieved before the two
higher needs can be met.

10. Assignment: “The workers as adults” (R: p.40)
1. Explain:
shareholder rights vs stakeholder rights
2. Name the three reasons why theory Y has not
triumphed yet.
3. Explain: “...however hard employers try to treat their workers decently, the market will conspire against them.”

11. Classify these features into “satisfiers” and “motivators”
- recognition
- good wages
- good working conditions
- a challenging job
- promotion
- company’s shared values
(corporate culture)
- empowerment
MK, p.31, 1h: Summarizing
- personal growth
- responsibility
- job security
- achievement
- good administration

12. New words in this unit benefits employee employer incentive
job security
labour relations
labour union
perks
reward
sick pay
skilled
task
threat
unskilled
wages
working conditions