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MGMT 309 - Exam 1 CH 1-5 Graded A Organization - Definition: A group of people working together in a structured and coordinated fashion to achieve a set of goals such as profit, knowledge, national defense, and social satisfaction. Organizational Resources - Types: Human, Financial, Physical,...

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  • August 30, 2024
  • 26
  • 2024/2025
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  • mgmt 309 exam 1 ch 1 5 graded a

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MGMT 309 - Exam 1 CH 1-5 Graded A


Organization

- Definition: A group of people working together in a structured and coordinated fashion to achieve a set
of goals such as profit, knowledge, national defense, and social satisfaction.



Organizational Resources

- Types: Human, Financial, Physical, and Informative Resources.



1. Human Resources:

- Managerial talent and labor.

- Examples: Drilling platform workers, corporate executives, faculty, administrative staff, police
officers, bookkeepers, grocery clerks.



2. Financial Resources:

- Capital investments to support ongoing and long-term operations.

- Examples: Profits, stockholder investments, alumni contributions, government grants, tax revenue.



3. Physical Resources:

- Raw materials, office and production facilities, and equipment.

- Examples: Office buildings, refineries, computers, sanitation equipment, display shelving.



4. Informative Resources:

- Usable data needed to make effective decisions.

- Examples: Sales forecasts, research reports, economic forecasts, price lists, crime statistics,
newspaper ads for competitors.



Example of Resources at Texas A&M

- Human Resources: Professors.

,- Financial Resources: Tuition.

- Physical Resources: Classroom.

- Informative Resources: College Station property tax reports.



Management

- Definition: A set of activities (planning, decision making, organizing, leading, and controlling) directed
at an organization's resources to achieve goals efficiently and effectively.



The Management Process

- Flow:

- Inputs: (Human, Financial, Physical, and Informational Resources)

- Management Activities: (Planning and Decision Making, Organizing, Leading, and Controlling)

- Outputs: (Goals attained efficiently and effectively).



Management Activities

1. Planning and Decision Making: Setting organizational goals and determining how to achieve them.

2. Organizing: Grouping activities and resources effectively.

3. Leading: Motivating organization members to work in alignment with the organization’s goals.

4. Controlling: Monitoring and correcting activities to ensure goal attainment.



Basic Purpose of Management

- Efficiently and effectively using resources and making the right decisions.



What is a Manager?

- A person responsible for executing the management process.



Video Example

- Peter from "Office Space": Represents disengaged employees; highlights the importance of
performance evaluation as a management control mechanism.

, Kinds of Managers

1. By Level:

- Top Managers: Set goals and overall strategies (e.g., President, CEO).

- Middle Managers: Implement policies and supervise lower-level managers (e.g., Plant Manager).

- First-Line Managers: Oversee operational employees (e.g., Supervisor).



2. By Area:

- Marketing Managers: Focus on product promotion and consumer engagement.

- Financial Managers: Manage the organization’s financial resources.

- Operations Managers: Control systems that create products/services.

- Human Resource Managers: Oversee hiring, training, and employee relations.

- Administrative Managers: Generalists with oversight across functions.



Managerial Roles

1. Interpersonal Roles: Involve relationships (Figurehead, Leader, Liaison).

2. Informative Roles: Involve processing data (Monitor, Disseminator, Spokesperson).

3. Decisional Roles: Involve decision-making (Entrepreneur, Disturbance Handler, Resource Allocator,
Negotiator).



Managerial Skills

1. Technical: Specialized knowledge of specific work.

2. Interpersonal: Communication and motivation skills.

3. Conceptual: Ability to see the big picture.

4. Diagnostic: Problem identification and analysis.

5. Communication: Effective exchange of ideas and information.

6. Decision-Making: Recognizing problems and selecting appropriate actions.

7. Time Management: Prioritizing tasks and delegating effectively.

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