Essentials of Contemporary Management Chapter 1

The three steps involved in Planning

1)Deciding which goals the the organization will pursue. 2)Deciding what strategies to adopt attain those goals. 3)Deciding how to allocate organizational resources to pursue the strategies that attain those goals.

Strategy

A cluster of decisions about what goals to pursue, what actions to take, and how to use resources to achieve goals.

Top Management Team

A group composed of the CEO, the COO, and the vice presidents of the most important departments of a company.

Self-Managed Team

A group of employees who assume responsibility for organizing, controlling, and supervising their own activities and monitoring the quality of the goods and services they provide.

Department

A group of people who work together and possess similar skills or use the same knowledge, tools, pr techniques to perform their jobs.

Total Quality Management (TQM)

A major thrust to improve quality- enhancing techniques.

Top Manger

A manger who establishes organizational goals, decides how departments should interact and monitors the performance of middle mangers.

First-line Manger

A manger who is responsible for the daily supervision of nonmanagerial employees. Often called supervisor. Work in all departments of functions of an organization.

Middle Manger

A manger who supervises first-line mangers and is responsible for finding the best way to use resources to achieve organizational goal.

Organizational performance

A measure of how efficiently and effectively a manger uses resources to satisfy customers and achieve organizational goals.

Efficiency

A measure of how well or how productively resources ate used to achieve a goal.

Effectiveness

A measure of the appropriateness of the goals an organization is pursuing and the degree to which the organization achieves those goals.

An organization's Vision

A succinct, and inspiring statement of what the organization intents to become and the goals it is seeking to achieve- Its desired future fate.

Leading

Articulating a clear vision and energizing and enabling organizational members so they understand the part they play in achieving organizational goals; one of the four principal task of management.

Henri Fayol

Author's of "Industrial Management" a book that remains the classic statement of what mangers must do to create a high-performing organization.

Organizations

Collections of people who work together and coordinate their actions to achieve a wide variety of goals or desired future outcomes. Second, as mangers, they are the people responsible for supervising and making the most of an organization's human and other resources to achieve its goal.

3 Skills Research Show to Help Mangers Acquire and Develop?

Conceptual, human and technical.

Effective Mangers Need These Types of Skill

Conceptual, human and technical.

Outsourcing

Contracting with another company, usually abroad, to have it perform an activity the organization previously performed itself.

Middle Manger Job

Developing and fine-tuning skills and know-how, such as manufacturing expertise, that allow the organization to be efficient and effective. Middle mangers make thousands of specific decisions about the production of goods and service.

Restructuring

Downsizing an organization by eliminating the jobs of large numbers of top, middle and first-line manager and nonmanagerial employees.

4 Building Competitive Advantage

Efficiency, quality, innovation, and responsiveness.

Controlling

Evaluating how well an organization is achieving its goal ans taking action to maintain or improve performance; one of the four principal tasks of management.

The Three Levels Of Managers

First line mangers, middle mangers and top mangers. Typically first-line mangers report to middle mangers, and middle mangers report to top mangers.

Jeff Immelt

General Electric CEO benefits of insourcing.

Two Recent Changes In Management Practices Are?

Global competition and advanced technology.

Agile Companies

Have speed and flexibility.

Planning

Identifying and selecting appropriate goals: one of the four principal tasks of management.

What are the 3 best outsourcing countries?

India, Indonesia, and China

Outcome of Controlling

Is The ability to measure performance accurately and regulate organizational efficiency and effectiveness.

Management

Is planning, organizing leading and controlling of human and other resources to achieve organizational goals efficiently and effectively.

ORION

On-Road Integrated Optimization and Navigation system.

Global Organizations

Organizations that operate and compete in more than one country.

Four Essential Managerial Tasks

Planning, Organizing, Leading and Controlling.

Leadership involves mangers using their

Power, personality, influence, persuasion and communications skills.

Dennis Corsi

Profiled in the "Manager as a Person" President of of Armstrong Consultants. (Colorado-based airport engineering firm). He is also a Pilot.

CEO AND COO Responsibility

Responsible for developing good working relationships among the top managers or various departments. Usually these top managers have the title "vice president"

CEO

Stands for chief executive officer is a company's senior and important manager, the one all top manager report to.

COO

Stands for chief operating officer and is the company's top manager.

Organizing

Structuring working relationships in a way that allows organizational members to work together to achieve organizational goals; one of the four principal tasks of management.

Competitive Advantage

The ability of one organization to outperform other organizations because it produces desired goods or services more efficiently and effectively than they do.

Conceptual Skills

The ability to analyze and diagnose a situation and to distinguish between cause and effect.

Human Skills

The ability to understand, alter, lead and control the behavior of other individuals and groups.

Turnaround Management

The creation of new vision for struggling company based on a new approach to planning and organizing to make better use of company's resources and allow it to survive and prosper.

Empowerment

The expansion of employees' knowledge tasks, and decision-making responsibilities.

Technical Skills

The job-specific knowledge and techniques required to perform an organizational role.

Organizational Structure

The outcome of organizing. A formal system of task and reporting relationships that coordinate and motivates organizational members so they work together to achieve organizational goals. This determines how an organization's resources can be best used to create goods and service.

Invoation

The process of creating new or improved good and services or developing better ways to produce or provide them.

Core Competency

The specific set of department skills, knowledge, and experience that allows one organization to outperform another.

Top Manger Job

Top manger are ultimately responsible for the success or failure of an organization and their performance. They have "crossed-departmental responsibility."