PART 2 - Foundations of Planning and Strategic Management by George on Scribd
Introduction to Management and Business
Wednesday, June 13, 2018
PART 1 - Foundations of Management and Organizations and Global Management
Foundations of Management Learning Outcomes
Explain why
managers are important to
organizations
Tell who
managers are and where they work
Describe the
functions, roles, and skills of
managers
Describe the
factors that are reshaping and
redefining the manager’s job
Explain the
value of studying management
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Why are Managers Important?
•Organizations
need their managerial skills and
abilities more than ever in these uncertain,
complex, and chaotic times.
•
Managerial skills and abilities are critical in
getting things done.
• The
quality of the employee/supervisor
relationship is the most important variable in
productivity and loyalty.
Who Are Managers?
Manager :
Someone who coordinates and oversees the
work of other people so that organizational goals can be accomplished
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Classifying Managers
•First-line
Managers - Individuals who
manage the work of non-managerial
employees.
•
Middle Managers -
Individuals who manage
the work of first-line managers.
•
Top Managers - Individuals who are
responsible for making organization-wide
decisions and establishing plans and goals
that affect the entire organization.
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Exhibit 1-1: Levels of Management
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Where Do Managers Work?
Organization - A deliberate arrangement of people
assembled to accomplish some specific purpose (that individuals independently
could not accomplish alone).
Common Characteristics of Organizations
qHave a distinct purpose (goal)
qAre composed of people
qHave a deliberate structure
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Exhibit 1-2:
Characteristics of Organizations
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What Do Managers Do?
Management involves coordinating and overseeing the
work activities of others so that their activities are completed efficiently
and effectively.
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Effectiveness and Efficiency
•Efficiency
- “Doing things right”
- Getting
the most output for the least inputs
•Effectiveness
- “Doing
the right things”
- Attaining
organizational goals
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Exhibit 1-3:
Efficiency and
Effectiveness
in Management
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Management Functions
•Planning -
Defining goals, establishing strategies to achieve goals, and developing plans
to integrate and coordinate activities.
•Organizing -
Arranging and structuring work to accomplish organizational goals.
•Leading -
Working with and through people to accomplish goals.
•Controlling -
Monitoring, comparing, and correcting work.
Exhibit 1- 4: Four Functions of Management
Management Roles
•Roles are specific actions or behaviors
expected of a manager.
•Mintzberg
identified 10 roles grouped around interpersonal
relationships, the transfer of information, and decision
making.
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Management Roles
•Interpersonal roles
Figurehead, leader, liaison
•Informational roles
Monitor, disseminator, spokesperson
•Decisional roles
Entrepreneur, disturbance handler,
resource allocator, negotiator
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Skills Managers Need
•Technical skills Knowledge and proficiency in a specific
field
•Human skills The ability to work well with other
people
•Conceptual skills The ability to think and conceptualize
about abstract and complex situations concerning the organization
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Exhibit 1-6:
Skills Needed at Different
Managerial Levels
Skills Needed at Different
Managerial Levels
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Exhibit 1-7:
Important Managerial Skills
•Managing human capital
•Inspiring commitment
•Managing change
•Structuring work and getting things done
•Facilitating the psychological and social
context of work
•Using purposeful networking
•Managing decision making process
•Managing strategy and innovation
•Managing logistic and technology
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The Importance of Customers
•Customers: the
reason that organizations exist
–Managing customer relationships is the
responsibility of all managers and employees.
–Consistent high quality customer service
is essential for survival.
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The Importance of Innovation
•Innovation
–Doing things differently, exploring new
territory, and taking risks.
–Managers should encourage employees to be
aware of and act on opportunities for innovation.
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The Importance of
Sustainability
Sustainability
•Sustainability -
a
company’s ability to achieve its business goals and increase long-term
shareholder value by integrating economic, environmental, and social
opportunities into its business strategies.
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Why Study Management?
•Universality of Management
–The reality that management is needed
•in all types and sizes of organizations
•at all organizational
levels
•in all organizational areas
•in all organizations, regardless of
location
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Global
Management
Learning Outcomes
•Contrast ethnocentric,
polycentric,
and geocentric attitudes toward global business
•Discuss the
importance
of regional trading alliances and global trade mechanisms
•Describe the
structures and techniques organizations use as they go international
•Explain the
relevance of the political/legal, economic, and cultural environments to global
business
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What’s Your Global Perspective?
•Parochialism - viewing
the world solely through your own perspectives, leading to an inability to
recognize differences between people.
•Ethnocentric Attitude - the parochialistic
belief that the best work approaches and practices are those of the home
country.
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More Global Perspectives
•Polycentric Attitude -
the view that the managers in the host country know the best work approaches and practices for running
their business.
•Geocentric Attitude - a
world-oriented view that focuses on using the best approaches and people from around the globe.
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Trading Alliances
•European Union (EU) - a
union of 27 European nations created as a unified economic and trade entity
•Euro - a
single common European currency
---------------------------------------------------------------------------------
Exhibit 3-1:
European Union Map
European Union Map
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Trading Alliances (cont.)
•Nations (ASEAN) - a
trading alliance of 10 Southeast Asian nations.
North
American Free Trade Agreement (NAFTA) - an agreement among the Mexican,
Canadian, and U.S. governments in which certain barriers to trade have been
eliminated
---------------------------------------------------------------------------------
Exhibit 3-1:
ASEAN Map
ASEAN Map
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Global Trade Mechanisms
•World Trade Organization (WTO) - a
global organization of 153 countries that deals with the rules of trade among
nations.
•International Monetary Fund (IMF) -
an
organization of 185 countries that promotes international monetary cooperation
and provides advice, loans, and technical assistance.
---------------------------------------------------------------------------------
Global Trade Mechanisms
(cont.)
(cont.)
•World Bank Group - a
group of five closely associated institutions that provides financial and
technical assistance to developing countries.
•Organization for Economic
Cooperation and Development (OECD) - an international economic
organization that helps its 30 member countries achieve sustainable economic
growth and employment.
---------------------------------------------------------------------------------
Types of International
Organizations
Organizations
•Multinational Corporation (MNC) - a
broad term that refers to any and all types of international companies that
maintain operations in multiple countries.
Multidomestic
Corporation - an MNC that decentralizes management and
other decisions to the local country
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Types of International
Organizations (cont.)
Organizations (cont.)
•Global Company - an
MNC that centralizes management and other decisions in the home country.
Transnational
or Borderless Organization - an MNC in which artificial geographical
barriers are eliminated
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How Do Organizations
Go Global?
Go Global?
•Global Sourcing - purchasing
materials or labor from around the world wherever it is cheapest.
Exporting
- making
products domestically and selling them abroad
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Going Global (cont.)
•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 one or more 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.
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Exhibit 3-3:
How Organizations
Go Global
How Organizations
Go Global
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The Economic Environment
•Free Market Economy - an
economic system in which resources are primarily owned and controlled by the
private sector.
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The Cultural Environment
•National Culture - the
values and attitudes shared by individuals from a specific country that shape
their behavior and beliefs about what is important.
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Contemporary Issues
•Cultural Intelligence - cultural
awareness and sensitivity skills.
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Exhibit 3-7:
A Global Mindset
A Global Mindset
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"Introduction to Management and Business"
"Introduction to Management and Business"
"Introduction to Management and Business"
"Introduction to Management and Business"
"Introduction to Management and Business"
"Introduction to Management and Business"
"Introduction to Management and Business"
"Introduction to Management and Business"
"Introduction to Management and Business"
"Introduction to Management and Business"
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