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MAN3025 - Prof. Wernick Exam #1|114 Q’s and A’s
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- MAN3025 - Prof. Wernick Exam #1|114 Q’s And A’s
MAN3025 - Prof. Wernick Exam #1|114 Q’s and A’s
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MAN3025 - Prof. Wernick Exam #1|114 Q’s and A’s
Management - -the process of assembling and using sets of resources in a
goal directed manner to accomplish tasks in an organizational setting
- Managerial Challenges - -- Managing Change
-Managing Resources
-Managing Strategically
-Managing Entrepreneurially
- Entrepreneur - -Someone who creates new businesses for the purpose of
gain or growth under conditions of risk and uncertainty. Involves identifying
new opportunities and exploiting them.
- Entrepreneurial Mindset - -is a way of thinking about businesses that
emphasizes actions to take advantage of uncertainty
- Frederick W. Taylor - -The father of modern management
- Planning
Organizing
Directing
Controlling - -What do managers do?
- Planning - -estimating future conditions and circumstances and making
decisions about appropriate courses of action
- Organizing - -systematically integrating resources to accomplish tasks
- Directing - -the process of attempting to
influence other people to attain an organization's objectives
- Controlling - -regulating the work of those for whom a manager is
responsible
- Creative destruction - -- Creation (innovation) by one firm leads to new
products, services and even entire industries.
- But unless the market leader is constantly innovating, it may be displaced
(destroyed) by hungrier competitors.
- Example: Kodak and Polaroid.
- -Setting Objectives
-Organizing
, -Motivating and Communicating
-Measuring
-Developing people - -What do managers do according to Ducker?
- Setting Objectives - -The manager sets goals for the group, and decides
what work needs to be done to meet those goals.
- Organizing - -Divides the work into manageable activities, and selects
people to accomplish the tasks that need to be done.
- Motivating and Communicating - -Creates a team out of his people,
through decisions on pay, placement, promotion, and through his
communications with the team.
- Measuring - -Establishes appropriate targets and yardsticks, and analyzes,
appraises and interprets performance
- Developing People - -In a knowledge economy, people are the company's
most important asset, and it is up to the manager to develop that asset.
- Managerial Roles - --Interpersonal roles
-Informational roles
-Decisional roles
- Interpersonal Roles - --Figurehead
-Leader
-Liaison
- Informational Roles - --Monitor
-Disseminator
-Spokesperson
- Decisional Roles - --Entrepreneur
-Disturbance handler
-Resource allocator
-Negotiator
- Ethics - -Branch of philosophy that focuses on moral issues (i.e., what is
good and bad, right and wrong).
- Managerial Ethics - -the study of morality and standards of business
conduct.
- Ethical Dilemma - -having to make a choice between two competing but
arguably valid options
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