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MANA 201 COMPLETE SUMMARY - ENTIRE COURSE - CHAPTERS FROM THE LECTURES, SLIDES AND BOOK INTRODUCTION TO BUSINESS AND MANAGEMENT (CONCORDIA UNIVERSITY) (A+ GRADING UPDATE)R204,26
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MANA 201 COMPLETE SUMMARY - ENTIRE COURSE - CHAPTERS FROM THE LECTURES, SLIDES AND BOOK INTRODUCTION TO BUSINESS AND MANAGEMENT (CONCORDIA UNIVERSITY) (A+ GRADING UPDATE)
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MANA 201 COMPLETE SUMMARY - ENTIRE COURSE - CHAPTERS FROM THE LECTURES, SLIDES AND BOOK INTRODUCTION TO BUSINESS AND MANAGEMENT (CONCORDIA UNIVERSITY) (A+ GRADING UPDATE)
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MANA 201 COMPLETE SUMMARY - ENTIRE COURSE - CHAPTERS
FROM THE LECTURES, SLIDES AND BOOK INTRODUCTION TO
BUSINESS AND MANAGEMENT (CONCORDIA UNIVERSITY) (A+
GRADING UPDATE)
Studocu is not sponsored or endorsed by any college or university
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Introducing management – Chapter 1
Study questions:
1. What are the challenges of working in the new economy?
3. What is the makeup of the external environment of organizations and how is an
organization linked to its environment?
4. Who are managers and what do they do?
5. What is the management process and how do you learn managerial skills and
competencies?
Introduction
«You need to keep changing to stay ahead of the times.»
Self-awareness
Important career skill: how well you know yourself and what you do with this
knowledge.
A high degree of self-awareness is essential for personal adaptability, to be able to learn,
grow, and develop in changing times.
The Johari Window p.3
- Blind Spot (known by the others, but not by you)
- The Unknown (unknown by everybody)
- Open Area (known by everybody)
- Hidden self (unknown by the others, but known by you)
Chapter 1
We are dealing with a new workplace, one in which everyone must adapt to a rapidly
changing society with constantly shifting demands and opportunities.
Organizations are fast changing.
The economy is global, driven by innovation and technology.
What often sets great organization today is that they offer creative and inspiring
leadership and supportive work environments that reward and respect people, allowing
their talents to be fully utilized. Most important themes today:
- Respect
- Participation
- Empowerment
- Involvement
- Teamwork
- Self-management
Working today
TALENT
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High performers achieve success because they are better than their competitors at getting
extraordinary results from the people working for them.
These companies have won the war for talent by figuring out how to get the best out of
all their people, every day.
Intellectual capital: collective brainpower or shared knowledge of workforce that can be
used to create value. You need to use that brainpower so that it’s worth it. The employee
will want to stay in the company since he will feel important.
Intellectual capital = Competency x Commitment
The ultimate challenge of any organization is to combine the talents of many people,
sometimes thousands of them, to achieve unique and significant results.
Knowledge worker: someone whose mind is a critical asset to employers.
If you want a successful career, you must be a source of intellectual to your employers.
DIVERSITY
Workforce diversity: Differences among workers in gender, race, age, ethnicity, religion,
sexual orientation, and able-bodiedness.
Prejudice: The display of negative, irrational attitudes toward members of diverse
populations.
Discrimination: Visible minority are unfairly treated and denied the full benefits of
organizational membership.
Glass ceiling effect: Invisible barrier limiting career advancement of women and
minorities.
GLOBALIZATION
Globalization: worldwide interdependence of resource flows, product markets, and
business competition. National boundaries of world business have largely disappeared.
It is described as a process in which improvements in technology (mostly communication
and transportation) combine with the deregulation of markets and open borders to bring
about vastly expanded flows of people, money, goods, services and information.
In today’s world, government leaders worry about the competiveness of nations, just as
corporate leaders worry about business competiveness. Employees in a growing number
of occupations must worry about being replaced by workers in other countries who are
willing to and able to perform their jobs through outsourcing and at lower cost to
employers.
TECHNOLOGY
Technology is an indispensable part of everyday business – whether one is checking
inventory, making a sales transaction, ordering supplies, or analyzing customer
preferences.
Physical distance hardly matters anymore.
The new technologies have also added great flexibility to work arrangements, allowing
people to telecommute, work from home, and maintain mobile offices while working in
non-traditional ways and free from constraints of the normal 9-to-5 schedules.
ETHICS
Ethics: moral standards of what is «good» and «right» in one’s behavior.
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Integrity is a key to leadership success, and the responsibility to set the ethical tone of an
organization begins at the top.
- Integrity and ethical leadership at all levels;
- Sustainable development;
- Natural environment protection;
- Consumer protection;
- Human rights.
CAREERS
Today’s career challenge isn’t just finding your first job; it’s also about successful career
planning.
Shamrock’s three leaves:
1. The full-time employees who pursue traditional career paths. With success and the
maintenance of critical skills, they can advance within the organization and may remain
employed for a long time.
2. Contract workers. They perform specific tasks as needed by the organization and are
compensated on a free-for-services basis rather than by a continuing wage or salary. They
sell a skill or a service and contract with many different employers over time.
3. Part-time workers hired only as needed and for as long as needed. Employers expand
and reduce their part-time staff, as business needs rise and fall.
You should always be prepared to prosper in any of the shamrock’s three leaves.
Portfolio worker: someone who has up-to-date skills that allow for job and career
mobility.
Your skills must be portable and always of value.
Organizations in the new workplace
Sooner or later, you’re going to have to decide who you want to work for.
WHAT IS AN ORGANIZATION
An organization is a collection of people working together to achieve a common purpose.
It is a unique social phenomenon that enables its members to perform tasks far beyond
the reach of individual accomplishment.
All organizations share a broad purpose: providing goods and services that return value to
society and satisfy customer needs.
ORGANIZATIONS AS SYSTEMS
Open system: transforms resource inputs from the environment into product outputs.
Organizations are open systems that interact with their environments in the continual
process of obtaining resource inputs and then transforming them into outputs in the form
of finished goods and services for their customers.
Feedback from the environment indicates how well an organization is doing.
Without loyal customers, a business can’t survive.
*See figure 1.1 p.12
ORGANIZATIONAL PERFORMANCE
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