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Summary MNG2602 Study notes and descriptions
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MNG2602 Study notes and descriptions
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,LEARNING UNIT 1: Managers and managingCompetitive advantage - The ability of one organisation to outperform other organisations
because it produces desired goods or services more efficiently and
effectively than they do.
Controlling - This is to evaluate how well an organisation is achieving its goals and
taking action to maintain or improve performance – controlling is one
of the four principal tasks of management.
Empowerment - A management technique that involves giving employees more power
and responsibility over how they perform their work activities.
First-line manager - This manager is responsible for the daily supervision of non-
managerial employees.
Globalisation - The economic and social interaction process whereby different
Countries work together to create a global economy.
Global organisation - An organisation that operates and competes in more than one
country.
Leading - This is to articulate a clear vision and to motivate and enable
organisational members to understand the part they play in achieving
organisational goals – leading is one of the four principal tasks of
management.
Management - The planning, organising, leading, and controlling of human and other
resources to achieve organisational goals efficiently and effectively.
Middle manager - This manager supervises first-line managers and is responsible for
finding the best way to use resources to achieve organisational goals.
Organising - This is to structure working relationships in a way that allows
Organisational members to work together to achieve organisational
goals – organising is one of the four principal tasks of management.
Planning - This is to identify and select appropriate goals – planning is one of the
four principal tasks of management.
Top manager - This manager establishes organisational goals, decides how
departments should interact, and monitors the performance of
middle managers.
Effectiveness - A measure of the appropriateness of the goals an organization is
pursuing and the degree to which the organization achieves those
goals.
First-line manager - A manager who is responsible for the daily supervision of
nonmanagerial employees.
Middle manager - A manager who supervises first-line managers and is responsible for
, finding the best way to use resources to achieve organizational goals.
Top manager - A manager who establishes organizational goals, decides how
departments should interact, and monitors the performance of
middle managers.
Conceptual skills - The ability to analyze and diagnose a situation and to distinguish
between cause and effect.
Human skills - The ability to understand, alter, lead, and control the behavior of
other individuals and groups.
Technical skills - The job-specific knowledge and techniques required to perform an
organizational role.
Mangerial tasks - Planning, organising, leading, control
Core competency - The specific set of departmental skills, knowledge, and experience
that allows one organization to outperform another.
Managerial roles - p.18 (Table 1.1) [Decisional, Interpersonal, Informational]
(Minzberg job responsibilities)
Manager levels - First-line managers, middle managers, top managers, CEO
Changes in management practices – Restructuring, outsourcing, empowerment and self-managed teams
5 Management challenges (TB p17) - Building a competitive advantage, Maintaining ethical and
socially responsible standards, Managing a diverse workforce,
Utilising IT and e-commerce, Practicing global crisis
management
Turnaround management - The creation of a new vision for a struggling company based
on a new approach to planning and organizing to make better
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