management
Steve jobs hiring quote
"It doesn't make sense to hire smart people and tell them what to do; we hire smart people so they can tell us what to do"
Dolly Parton on "Problems"
"To enjoy the beauty of a rainbow, sometimes you have to put up with a little bit of rain" In business...It's how you deal with problems that defines you
importance of values
"respect is built up through hundreds of positive deeds & destroyed by 1 stupid on" - Recently, former Governor Bob McDonnell and his wife were both indicted for funds misuse, and both are going to serve time - Integrity retained is invaluable, integrity once lost is irretrievable
the candle problem
- Candle thumbtack and matches hang it on the wall so the candle doesn't drip onto ___ - The key is to overcome functional fixedness - You can sue the tack case as a platform for the candle - Sam Glucksberg—power of incentives, time how quickly u can solve the problem - One group no rewards Another group rewards -How much faster did rewards group solve the problem - 3.5 minutes longer -iF U WANT PEOPLE TO PREFORM BETTER,
Dan Pink: The puzzle of motivation
- Different people are motivated by different influences - Incentives sometimes dull the creative process - Greater autonomy, mastery, purpose = Greater productivity and satisfaction
importance of values: lehman bros ex
- Example of Lehman Bros. declaring bankruptcy in 2008 with $700 billion in debt under the leadership of Dick Fuld, 26,000 people lost their jobs
how do organizations go international
- Global sourcing- purchasing materials or labor from around the world wherever it is cheapest - Exporting- making products domestically and selling them abroad - Importing- acquiring products made abroad and selling them domestically - Licensing- an organization gives another organization the right to make or sell its products using its technology or product specifications - Franchising- an organization gives another organization the right to use its name and operating methods - Strategic alliance- a partnership between an organization and a foreign company partner(s) in which both share resources and knowledge in developing new products or building production facilities o Joint venture- a specific type of strategic alliance in which the partners agree to form a separate, independent organization for some business purpose - Foreign subsidiary- directly investing in a foreign country by setting up a separate and independent production facility or office
Specific Challenges Facing Leaders- Columbia Shuttle
- It was a piece of foam that took the space ship down - How are they evaluated? What are their strengths and weaknesses? Motives and Interests? How does their role interrelate with other managers and how might the solution affect those relationships? Subordinates often defer to superiors. - How do you fix problems like this? Set up open dialogue. Force people to play devil's advocate. Reward contrarians. Anonymous feedback.
Leaders are _____ and______
- Leaders are problem solvers and solution creators - "A pessimist sees the problems in every opportunity. The optimist sees the opportunity in every problem."
How organizations go green
- Legal (or Light Green) Approach - firms simply do what is legally required by obeying laws, rules, and regulations willingly and without legal challenge. - Market Approach - firms respond to the preferences of their customers for environmentally friendly products. - Stakeholder Approach - firms work to meet the environmental demands of multiple stakeholders—employees, suppliers, and the community. - Activist Approach - firms look for ways to respect and preserve the environment and be actively socially responsible.
mlk
- MLK day- "Our lives begin to end the day we stand silent for the things that matter." "Life's most persistent and urging question is what are you doing for others." - Martin Luther King Jr. was a leader, planner, inspirer, organizer, and controller of emotions
Keurig Warning Signs solutions
- Many false starts: brewer original design did not work nor did the package line. Both designs scrapped. - Get to know your customers- recruit people who you wouldn't mind working for someday. - Vendor- asked for more money a week before launching the product. o Paid 180K to the vendor, launched the system and said "bye" to the vendor.
Organizational culture gives employee identity
- Organization culture profile- innovative, detail orientated, tem orientated, people orientated, stable, outcome orientated, aggressive. - Dying and thriving industries- the secret to success is to react to change or create change.
Sheryl Sandberg Ted talk
- Sit at the table o Women systematically underestimate their own abilities, Women don't negotiate for themselves in the workforce, Success and liability are positive correlated for men and negative for women - Make your partner a real partner o Put more pressure on boys to succeed and not girls, Equal earning and housework, half divorce - Don't leave before u leave Actions women are taking to stay in the workforce actually force them to leave. ♣ She starts leaning back, Quietly leaning back, Needs to be challenging and rewarding, Keep your foot on the gas pedal!, Don't make decisions too far in advance
Various workplace diversity initiatives
- Top management commitment to diversity - Mentoring- providing advice and guidance to less experienced members - Diversity skills training- specialized training to educate employees about the importance of diversity and teach them skills for working in a diverse workplace - Employee resource groups- groups made up of employees connected by some common dimension of diversity
Importance of Organizational Culture: Zappos
- the shared values, principles, traditions, and ways of doing things that influence the way organizational members act and that distinguish the organization from other organizations - Organizational culture: the shared values, principles, traditions and ways of doing things that influence the way organizational members act and that distinguish the organization from other organizations. - (1) Strong sense of purpose - (2) Focus on Individual Development - (3) Trust and Openness - (4) Employee empowerment - (5) tolerance of employee expression. - Starbucks o Revamped the culture. Re-trained top managers.
Toyoda
-Akio Toyoda became the company's president in 2009 and he took Toyota out of the crisis it was facing by dramatically changing the way the company was managed by being fast and flexible
The Classical View
-Management's only social responsibility is to maximize profits (create a financial return) by operating the business in the best interests of the stockholders (owners of the corporation). -Expending the firm's resources on doing "social good" unjustifiably increases costs that lower profits to the owners and raises prices to consumers.
4 Functions of MGT
-Planning- setting goals, establishing strategies for achieving those goals, and developing plans to integrate and coordinate activities -Organizing- arranging and structuring work to accomplish the organization's goals -Leading- working with and through people to accomplish organizational goals -Controlling- monitoring, comparing, and correcting work performance
Why Management Matters (6)
-Understanding yourself- what kind of person are you? What are you strengths and weaknesses? -Managing yourself- how to motivate yourself? How to plan yourself? How to work with others? -Self effectiveness- live happily, work productively -Understanding others- what kind of person is she or he? What are their strengths or weaknesses? -Managing others- how to motivate others? Make plans for others? Facilitate teamwork? -Organizational effectiveness- team performs well, effective interpersonal relationships, cooperative team climate
E-book analogy
-arbitrator holds a hearing with lawyers and briefs and decides on a solution o Amazon kindle—Barnes & Noble Nook—Apple iPad Tablet—kindle fire—Nook tablet. Other ebook reader's are dony's Reader and Endless Ideas' BeBook Neo. o As the popularity of the ebook industry accelerates, the "reader wars" are likely to continue. Anyone who doubts the impact the external environment has on managing just needs to look at what's happened in both ebook readuer industry and the publishing industry during the last few years.
ROWE
-people don't have schedules o Just have to get their work done o Intrinsic motivation is better than extrinsic motivation
u get oxytosin from
1 Physical contact (hugging, shaking hands) or 2 Acts of human generosity (giving your time and energy and expecting nothing in return).
Brian Miller
1. "Our world is a shared experience fractured by individual perspectives." 2. The secret to magic is understanding and taking on different perspectives. 3. In any magic trick, the magician is the only person who cannot see the magic because he knows how the trick works; so to do the trick well the magician has to take on the perspective of the audience. 4. Before he does his Rubik's Cube trick, he makes a connection first, so the audience feels understood, then he does the trick. Otherwise he would just seem like a showoff with a trick. 5. It is not enough to care for someone or to understand them; they have to feel understood. 6. Perspective taking — the ability to see the world from the view of another person. Easy in theory but can be difficult to do. 7. There is visual perspective and emotional perspective. 8. Visual perspective is more straightforward. Like magicians we can video ourselves or look at ourselves in the mirror. 9. Emotional perspective is the crucial one in relationships. The easiest way is to ask questions, and, more importantly, listen to the answers. Listen to understand, not just to respond.
process of decision making
1. Identify a Problem- an obstacle that makes it difficult to achieve a desired goal or purpose 2. Identify Decision Criteria- criteria that defines what is important or relevant to resolving a problem 3. Allocate Weight to the Criteria- prioritize the criteria of your decision 4. Develop Alternatives- needs to be creative, just listing the alternatives 5. Analyze Alternatives- weighted alternatives calculated by multiplying each alternative by the assigned weight 6. Select an Alternative- choose the best alternative or the one that generated the highest total in step 5 7. Implement the Alternative- put the decision into action by conveying it to those affected and getting their commitment to it 8. Evaluate Decision Effectiveness- evaluate the income or result of the decision to see whether the problem was resolved
three kinds of people in this world
1. People Who Make Things Happen 2. People Who Watch Things Happen 3. People Who Wonder What Happened! In the world today, business and medical "leaders" have to make things happen
ADMIRAL WILLIAM H. MCRAVEN
1. Start the day by making your bed. 2. Find the right people to help you. 3. Attitude and heart can outweigh other advantages. 4. Keep moving forward.- Many students couldn't endure the pain, but the key to succeeding was to accept that sometimes, life just sucks. But you have to move forward. 5. Don't be afraid of the circuses. Pain builds strength and resiliency, McRaven said, both in training and the real world. Don't be afraid of it. 6. Be resourceful and innovative. 7. Don't back down from the sharks. If you can face a shark alone in the Pacific Ocean, you can probably face most of life's other sharks. Don't be afraid of them. 8. Be your very best in your darkest moments. "Every SEAL knows that under the keel, at the darkest moment of the mission--is the time when you must be calm, composed--when all your tactical skills, your physical power and all your inner strength must be brought to bear." 9. Sing when you're up to your neck in mud. Instead, one man in the group started singing. Another joined in, and then another. The instructors threatened them, but they kept singing--which made the whole exercise just bearable enough to finish. 10. Never quit. (Never "ring the bell.")
Rev. Ray Hammond
2014 Notre Dame commencement speaker PASS IT ON story: Jean tompson was the teacher and teddy was the student teddy was troubled due to his mothers death and dad was not there for him JEan decided to start teaching children instead of reading and math for xmas teddy brought her a rinesone bracelet and perfume that had been his mothers she paid special attention to him so that he would succeed he kept in close contact with her when the gift of grace is in your life pass it onto someone else.
cultural influences on management
A societal culture is impacted by the economy, politics, ethnicity, and religion. Thus the organization's culture is also impacted by these things because of the employees whose personal values/ethics, attitudes, assumptions, and expectations are formed in part by the societal culture. All of these factors play a major role in organizational behavior.
Geocentric
A world-oriented view that focuses on using the best approaches and people from around the globe
top managers
Are responsible for making organization wide decisions and establishing the plans and goals that affect the entire organization
Green Mountain - Building a better world
Commits 5% of its profits to CSR initiatives Provides employees with 52 hours of paid time off to volunteer in their communities #1 purchaser of Fair Trade coffee worldwide Offsets 100% of its carbon footprint
Oxytocin
Creates intimacy, trust; feeling that someone will protect you. Moms, babies, lovers feel this when they are protected and loved. Feeling of safety.
darla moore
Darla: reinvent education structure o Admitted into Augusta Golf Club. so did condoleezza rice o The giving pledge: many great leaders give back. Darla gives millions in education grants. o "Be nice to the people you meet on the way up, 'cause you never know who you will run into on the way down."
Demographic Impact of 2008 market crash
Demographic Impact- 2008 market crash. - 20% of the population will be Hispanic and growing by 2025 - India has more males under 5 than the entire population of France - Soon there will be more people in china over 65 than the rest of the world.
endorphins
Diminishes our perceptions of pain. Keeps us going during work-outs, gives us a "runner's high", and helps us to endure difficulties. Good for those late nights, 70+ hour weeks, and back-breaking middle seats.
Economic Environment Impact- 2008 crash fall-out
Economic Environment Impact- 2008 market crash. - Economic Inequality - on the rise.
Ethnocentric
Employees in the home country knows the best work approaches and practices.
Polycentric
Employees in the host country knows the best work approaches and practices for running their business.
Selfish chemicals
Endorphin and Dopamine help us get things done and achieve more.
jack welch
GE CEO, Helping individuals reach their dreams by focusing on the person. Development of people. Great people make great things happen is a strong leader who believes that you can help people reach their dreams by focusing on the person, and profits will follow
TECH OPPROTUNITY
Helping business disrupt the status quo and drive the next wave of future growth
Mitzenberg what roles do managers play
Henry Mintzberg observed that a manager's job can be described by ten roles performed by managers in three general categories Interpersonal Roles - Figurehead, Leader, and Liaison Informational Roles - Monitor, Disseminator and Spokesperson Decisional roles- Entrepreneur, Disturbance Handler, Resource Allocator and Negotiation
contingent motivator
If u do this you get thatmost of the time they don't help- they cause harm
The Taj Mumbai tragedy
Incredible demonstration of first-line manager bravery - Terrorist attack at the hotel, but managers stayed calm and continued to serve guests and make sure they were safe and secure before themselves
American Culture
Informal Direct Competitive Independent and Individualistic Questioners Dislike silence Value punctuality Value cleanliness Similar to: Great Britain & Commonwealth, Netherlands Very dissimilar to: Venezuela, Columbia, Chile, Portugal, Pakistan, Singapore
Leadership is Not Just About Doing___
It is about Inspiring Followers to do More
Lou Holtz: three rules to live by
It is important to have rules or principles by which you intend to live your life and lead your team 1. "Do the right thing" 2. "Be the best you can be at whatever you do" 3. "Show people you care"
Haruka Nishimatsu
Japan Airlines' CEO makes sure his employees feel like part of a team, eats lunch with them, rides the bus to work, etc. proves it's not about how much money you make but about making your employees feel like part of the team. -buys suits at a discount store to make sure that management is not distant.
John Fetzer
John Fetzer left his entire $400 Million estate to form the Fetzer Institute whose mission is to "foster awareness of the power of love and forgiveness in the emerging global community"
Survival Guide for leaders
Know the difference between technical change and adaptive The Hostile Environment Operate Above the Fray Court the Uncommitted Cook the Conflict Place the Work Where it Belongs The Dangers Within Manage Your Hungers Anchor Yourself A major in Management Consulting can help you learn more
Leadership Involves The Ability to____
Leadership Involves The Ability to do the Right Thing ... all the time
middle managers
Manage the work of first line managers and are found between the lowest and top levels of the organization. Also called Regional Managers, Project Leaders, Division Managers, and store managers
first line mgrs
Manage the work of non-managerial employees. Also called shift managers, department managers, or office managers.
Socio-Economic View
Management's social responsibility goes beyond making profits to include protecting and improving society's welfare. Corporations are not independent entities responsible only to stockholders. Firms have a moral responsibility to larger society to become involved in social, legal, and political issues. "To do the right thing"
All Management Topics Fit Together...
Managing diversity, individual differences, teamwork, leadership, ethics, design, managing human resources, planning, and controlling -Management isn't just common sense, it really matters and is all around us -"A great manager doesn't build the business; a great manager builds the organization for it is the organization that builds the business."
Bulls-Knicks Playoff Game '94
Michael Jordan - didn't agree with the play and was taken out.
Steve Ballmer
Microsoft CEO leads with energy, and puts culture/company first before the individual. He is focused, funny passionate sincere, dynamic. He infused Microsoft with his won brand of energetic leadership. OVer the top -- not a leader
Dopamine
Motivates us to achieve incremental goals. Rewards motivated behavior. Kind of like the "greed" function of our brain. Makes us feel good when we check things off the "to do list" or get through project milestones. Highly addictive.
Types of international companies
Multinational corporation (MNC)
Licensing & Franchising
One organization giving another organization the right to use its brand name, technology, or product in return for a lump sum payment or fee based on sales.
why are millennial unhappy at work
Parenting, Technology, Impatience, Environment
Simon Sineck: If you don't understand the people you wont understand the business
People and companies, he cautions, must act authentically to build genuine emotional connections -Humans are social beings who function best in groups and communities. -Reciprocal trust develops among a group of people who share the same beliefs. -The trust of your group provides you with the freedom to explore and fail. -Behave in ways that are true to your nature to attract like-minded people. -When companies rely on market research to guide behavior, they act inauthentically. Trying to eliminate your weaknesses is pointless. Rather, shore up your strengths and surround yourself with people who excel in the areas you find most challenging. True fulfillment comes only from helping others. Genuine generosity - that is, giving something of yourself without expecting payback - contributes to the strength of your community. It reinforces relationships, boosts mutual trust and improves your group's chances of survival. if you only give once a month, please give to me next time
Challenges of workforce diversity
Personal bias - Bias: The tendency or preference toward a particular perspective or ideology. - Prejudice: the preconceived belief, opinion or judgment toward another person. - Stereotyping: a factor of prejudice—judging a person based on a perception of a group to which that person belongs. - Discrimination: acts out their prejudicial attitudes Glass Ceiling - The invisible barrier that separates women and minorities from top management positions. -Bias- a tendency or preference toward a particular perspective or ideology -Prejudice- a preconceived belief, opinion, or judgment toward a person or a group of people -Stereotyping- judging a person based on a perception of a group to which that person belongs
6 key areas to leading
Planning the right strategies to guide the business Finding, hiring, training and inspiring the best you can find Staying on pace with the goals and knowing when to pivot Then being able to make the right decisions to lead change Working with and inspiring the team to exceed goals Victories will feed the ego: setbacks will build character
Project Oxygen
Project Oxygen: building better bosses oGoogle did it by pumping fresh air into management. They identified Characteristics employees admire most in bosses.
Serotonin
Provides the feeling of significance, pride, status. It drives us to seek the recognition of others. Want to do it "for my mom, my boss, my wife." It reinforces the sense of relationships with the group, allegiance. imon Sinek calls this the Leadership chemical and what creates a sense of allegiance and organizational cohesion.
writing a recommendation:
Purpose Statement of the Recommendation... "This recommends that Stryker develop a compelling 60 second TV spot to be aired on targeted demographics with the goal of connecting with consumers and healthcare purchasing agents emotionally with the Stryker brand" Background... Go on to tell the background leading up to the recommendation... it may involve that sales are flat... new competitors are gaining market share... new product launches have been less than successful... recent acquisitions have not been well integrated... logically leading up to a need for a change in strategy Statement of Recommendation... Do it in a SMAC format... it is an expansion on the purpose statement with what you are specifically recommending... i.e... "We recommend Stryker develop a new ad and PR campaign designed to better connect the Stryker brand to consumers with a short-term plan to air a 60 second spot at a targeted demographics by no later than 3/1/16." Discussion/Explain How It Works... Speak to the logistics of developing the plan... money required? Savings goal target? Goal for increased number of customers resulting from the effort? Developing a "why" by perhaps donating a percentage of sales of a product to a cause... ? Reinforce Key Benefits... What will the customer gain from implementing the recommendation(s). Increase in sales? Increase in brand awareness? Number of new customers? Increase in Profits? Increase in sales? Reduction in employee turnover? Increase in Market Share? Suggest Easy Next Steps... Ask for the order. "We recommend that this plan be implemented by no later than March 1st, 2016. May we have your approval to proceed
Innovation Involves:
Satisfying Consumer Needs or Urges
Selfless chemicals
Serotonin and Oxytocin strengthen our social bonds create meaningful connection/collaboration.
Barbara Jordan
She delivered an eloquent speech on the importance of impeachment at the beginning of the hearings on whether or not to impeach President Richard Nixon - Selling your recommendations requires data, preparation and passion. - Dreams can come true with a clear strategy. - Must become creative problem solvers - She observes that the framers intended for impeachment to be a method of national inquest into the actions of public men in cases involving only the most serious offenses against the law and the Constitution
Leaders Eat Last - Simon SIneck
Simon Sinek explains how to support your team - no matter what - so it can triumph. Johnny Bravo-He risked his life flying a plane to save the lives of the solders on the ground and his reasoning was they would have done the same for him The human body produces 4 main chemicals that affect how we behave and act: 1. Endorphins give us a high from exerting ourselves physically 2. Dopamine give us a high when we accomplish goals or when we progress towards them 3. Serotonin makes us feel good when we are recognized or when others feel good about themselves for their achievements 4. Oxytocin makes us feel happy when we experience love, friendship or safety by being with others True (and lasting) leaders use Seratonin and Oxytocin to balance out highs experienced from Endorphins and Dopamine. These first two chemical can be addictive if not balanced out.
3 major roles of a manager
Specific actions of behaviors expected of and exhibited by a manager—looks at the expectations and responsibilities associated with the person in that role of a manager. (1) Interpersonal roles- involves people and other duties that are ceremonial and symbolic in nature. ♣ Figurehead, Leader , Liaison (2) Informational Roles- Involve collecting receiving and disseminating information. ♣ Monitor, Disseminator-spreader of information, Spokesperson (3) Decisional Roles- managerial roles that revolve around making choices. ♣ Entrepreneur/Negotiator, Disturbance handler, Resource allocator
what must u invent in
TECH
"The future belongs to those who believe in the beauty of their dreams"
The future belongs to those who believe in the beauty of their dreams"... Eleanor Roosevelt
key to being a great leader is _____ according to _____
The key to being a great leader is trust according to General Colin Powell -Good leaders are people who are trusted by followers -Serving selflessly, prepare followers to get the job done, get ppl to follow if only just out of curiosity
National Culture
The values and attitudes shared by individuals from a specific country - What a society believes to be good, desirable and beautiful - Provides conceptual support for democracy, truth, and appropriate roles for men and women - Usually not static but very slow to change - Influences employees more than organizational culture - Not necessarily easy to find out (taken for granted)
Omnipotent Managers
The view that managers are directly responsible for an organization's success or failure.
Symbolic Managers
The view that much of an organization's success or failure is due to external forces outside managers' control.
Ellen Commencement address
There is no better voice to listen to than the one inside yourself.
Warning signs
Total sales slowing down, per store comps slowing down, cost as a % of sales increasing, loss of market share, increase in product defects, increase in customer complaints, Profit Margin erosion, increase in employee turnover, increase in out of stocks, drop in production productivity.
Non-managerial employees
Typically involved with producing the Organizations products or servicing the customers.
when danger is present...
When danger is present or when the group is threatened, the group expects the leader to step up and put himself/herself at the front to protect the group from the danger. They expect the leader to lead the whole group to survival. A true leader is willing to give up their perks and protect the group so that they may survive.
when presenting ideas or recommendations,
You have to be convinced that your recommendations are right But you better be sure you are giving the client what they are asking for
Social Responsibility
a business's intention, beyond its legal and economic obligations, to do the right things and act in ways that are good for society.
Strategic alliance
a partnership between an organization and a foreign company partner(s) in which both share resources and knowledge in developing new products or building production facilities
Joint venture
a specific type of strategic alliance in which the partners agree to form a separate, independent organization for some business purpose
Importing
acquiring products made abroad and selling them domestically
Licensing
an organization gives another organization the right to make or sell its products using its technology or product specifications
Franchising
an organization gives another organization the right to use its name and operating methods
Social Screening
applying social criteria (screens) to investment decisions.
Joe Girard
born into poverty, kicked out of high school and the army, almost declared bankruptcy, but then became a cars salesman & turned his life around - Became the #1 big-ticket sales person ever by redefining customer intimacy by maintaining meticulous records of all prospects and sending them cards for holidays, birthdays, etc. The road to success is rarely smoothly paved - Grew up in poverty, couldn't feed his family at 35 and became a care salesman. He turned his life around and became the #1 big ticket sales person ever. - He redefined customer intimacy, sent cards to his customers and averaged 6 car sales a day.
Global company
centralization, ethnocentric attitude, e.g., Sony
Technological - External env't impact
concerned scientific or industrial innovations.
Demographic - External env't impact
concerned with trends in population characteristics such as age, race, gender, education level, geographic location, income, and family composition.
Having a "Why" Makes You Memorable ______ with People _____ Your Brand
connecting, connects
Multi-domestic corporation
decentralization, polycentric attitude, e.g., Nestlé
organization
deliberate arrangement of people to accomplish some specific purpose
Deep level diversity
differences in values, personality and work preferences. Affects the way people view organization work rewards, communicate and behave at work.
Foreign subsidiary
directly investing in a foreign country by setting up a separate and independent production facility or office
Surface Level Diversity
easily perceived differences that may trigger certain stereotypes but that do not necessarily reflect the ways people think or feel.
Economic - External env't impact
encompasses factors such as interest rates, inflation, changes in disposable income
Global - External env't impact
encompasses issues associated with globalization and the world economy.
orgnization: distict purpose
expressed through goals the organization hopes to accomplish.
Diversity can also be
generational
Jocko Willink
he was in charge of a group of soldiers that ended up in a fire fight against his own men taht resulted in wounded soldiers HE couldnt figure out who to blame until he realized it was his own fault. he was at fault bc he was the senior man on the battle field and everything that happened was his fault HE HAD TO, "CONTROL HIS EGO SO HIS EGO COULD NOT CONTROL HIM" as a result he took responsibility and he gaiend more trust from everyone around him and he was not fired
Changing workforce in US and world
increasing US population, greater minority presence, and an aging population, also the world population is aging at an unprecedented rate and is growing rapidly
Sociocultural - External env't impact
is concerned with societal and cultural factors such as values, attitudes, trends.
Reason that new businesses fail
lack of sales
No matter what path you take after graduation ... you need to
lead people and manage processes to succeed
two major points
learning and leading "A great leader does not build the business,; a great leader builds an organization for it is the organization that builds the business"
Political/legal - External env't impact
looks at federal state and local laws plus laws of other countries
Exporting
making products domestically and selling them abroad
Green Management
managers consider the impact of their organization on the natural environment.
2010 Tipping point
more minorities than not
Homeless boy steals talent show
never give up on your dreams
Borderless organization
no geographical barriers, geocentric attitude, e.g., IBM
Efficiency vs. effectiveness
o Efficiency (means): getting the most output from the least amount of inputs or resources. o Effectiveness (ends)- described as "doing the right things" or doing the work activities that will result in achieving goals. o Management strives for: Low resource waste (high efficiency) and High goal attainment (high effectiveness).
Golden Circle
o Golden Circle: Why-how-what circle. The "why" is the purpose, cause belief that needs to be communicated from the inside out. Think Apple. People don't want to buy what you do they want to buy why you do it. center is why, middle circle is how, and outer circle is what -- "People don't buy what you do, but why you do it". -people don't buy what you do, they buy why u do it -Start with the why Simon Sinek points out that everyone in an organization knows "WHAT" it is that they do. -Some know "HOW" they do it. -But, very few know "WHY" they do what it is that they do. -I don't believe that any of these leaders were looking for their "WHY." -something happened in their lives that caused an emotional reaction. -That reaction naturally instilled their driving purpose. -This is the most powerful "WHY" a person can have. -It's also important to note that none of these leaders set out to "be first," instead they set out to serve others. -Establish clear personal, family and health goals. These are your "WHY" goals. -Determine your personal professional development goals. These are your "HOW" goals. -Set your business, career and financial goals. These are your "WHAT" goals.
3 skills managers need
o Technical skills- job specific knowledge and techniques needed to proficiently perform work tasks. - These skills are most important for first line or Lower Level Managers because they manage employees who use tools and techniques to produce the organization's products. o Human skills- The ability to work well with other people individually and in a group. - Equally important for Top managers, Middle Managers, and Lower Level Managers - Managers with good human skills get the best out of their people. They know how to communicate motivate, lead, and inspire enthusiasm and trust. o Conceptual skills- the ability to think and to conceptualize about abstract and complex situations. - These skills r most important among Top managers. - Managers see the organizations a whole, understand the relationships among various subunits, and visualize how the organization fits into its broader environment.
Walmart
pulled plug on 269 stores
Global sourcing
purchasing materials or labor from around the world wherever it is cheapest
External Environment Impact
refers to factors and forces outside the organization that affect its performance
Management
someone who coordinates and oversees the work of other people so organizational goals can be accomplished. A manager's job is about helping others do their work.
Example of GE Ecomagination Program
that is dedicated to investing more in R&D, improving water reuse, reducing emissions, etc.
MASTERY
the desire to get better and better at something that matters
Social Obligation
the obligation of a business to meet its economic and legal responsibilities and nothing more.
AUTONOMY
the urge to direct out own lives
Workplace Diversity
the ways in which people in an organization are different from and similar to one another
Work force diversity
the ways in which people in an organization are different from and similar to one another. Types=Age, gender, race and ethnicity, disability, religion, sexual orientation, other.
PURPOSE
the yearning to do what we do because of something bigger than ourselves.
Social Responsiveness
when a firm engages in social actions in response to some popular social need.
Scott Geller
• EMPOWERMENT • Feeling empowered is self-motivated • Three Q's o Can you do it? o Will it work? o It is worth it? • if u answer yes you feel competent in doing worthwhile work • give feedback and recognition • choice- common senses sense of autonomy. when you perceive choice, you get motivated • training- you do the behavior and you learn it we can always learn from each other Stories: Drums and cookie theif Five C's: community, choice, competent, consequences, community