《Contemporary Management》chpt 1 Additional Key Concepts

Contemporary Management Gareth. Jones Second edition Texas A&M University Jennifer M. george Texas A& M University除 Charles WL. hill University of Washington " win/MeGraw-HHill OThe McGrawHill Companies, Inc, 2000

Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 2000 Contemporary Management Second Edition Gareth R. Jones Texas A&M University Jennifer M. George Texas A&M University Charles W. L. Hill University of Washington ©The McGraw-Hill Companies, Inc., 2000

1-23 Managers and Managing OThe McGraw-Hill Companies, Inc, 2000

Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 2000 Managers and Managing 1 1-2

1-3 Management Key Concepts e Organizations. People working together and coordinating their actions to achieve specific goals o Goal. a desired future condition that the organization seeks to achieve Management: The process of using organizational resources to achieve the organization's goals by Planning, Organizing, Leading, and Controlling " win/MeGraw-HHill OThe McGraw-Hill Companies, Inc, 2000

Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 2000 Management Key Concepts ⚫ Organizations: People working together and coordinating their actions to achieve specific goals. ⚫ Goal: A desired future condition that the organization seeks to achieve. ⚫ Management: The process of using organizational resources to achieve the organization’s goals by... ◼ Planning, Organizing, Leading, and Controlling 1-3

1-4 Additional Key concepts o Resources are organizational assets and include: ◆ People, ◆ Machinery. ◆ Raw materials, ◆ Information. skills Financial capital Managers are the people responsible for supervising the use of an organizations resources to meet its goals. " win/MeGraw-HHill OThe McGraw-Hill Companies, Inc, 2000

Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 2000 Additional Key Concepts ⚫ Resources are organizational assets and include: ◆ People, ◆ Machinery, ◆ Raw materials, ◆ Information, skills, ◆ Financial capital. ⚫ Managers are the people responsible for supervising the use of an organization’s resources to meet its goals. 1-4

15 Achieving High Performance o Organizations must provide a good or service desired by its customers David Johnson of Campbell Soup manages his firm to provide quality food products Physicians, nurses and health care administrators seek to provide healing from Sickness a McDonalds restaurants provide burgers fries and shakes that people want to buy. " win/MeGraw-HHill OThe McGraw-Hill Companies, Inc, 2000

Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 2000 Achieving High Performance ⚫ Organizations must provide a good or service desired by its customers. ◼ David Johnson of Campbell Soup manages his firm to provide quality food products. ◼ Physicians, nurses and health care administrators seek to provide healing from sickness. ◼ McDonald’s restaurants provide burgers, fries and shakes that people want to buy. 1-5

1-6 Organizational Performance o Measures how efficiently and effectivel managers use resources to satisfy customers and achieve goals Efficiency: A measure of how well resources are used to achieve a goal Usually, managers must try to minimize the input of resources to attain the same goal Effectiveness: a measure of the appropriateness of he goals chosen (are these the right goals ls?), and the degree to which they are achieved e Organizations are more effective when managers choose the correct goals and then achieve them " win/MeGraw-HHill OThe McGraw-Hill Companies, Inc, 2000

Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 2000 Organizational Performance ⚫Measures how efficiently and effectively managers use resources to satisfy customers and achieve goals. ◼ Efficiency: A measure of how well resources are used to achieve a goal. ◆Usually, managers must try to minimize the input of resources to attain the same goal. ◼ Effectiveness: A measure of the appropriateness of the goals chosen (are these the right goals?), and the degree to which they are achieved. ◆Organizations are more effective when managers choose the correct goals and then achieve them. 1-6

Managerial Functions o henri fayol was the first to describe the four managerial functions when he was the ceo of a large mining company in the later 1800S o Fayol noted managers at all levels, operating in a for profit or not for profit organization, must perform each of the functions of Planning, organIzing, leading controlling " win/MeGraw-HHill OThe McGraw-Hill Companies, Inc, 2000

Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 2000 Managerial Functions ⚫Henri Fayol was the first to describe the four managerial functions when he was the CEO of a large mining company in the later 1800’s. ⚫Fayol noted managers at all levels, operating in a for profit or not for profit organization, must perform each of the functions of: Planning, organizing, leading, controlling. 1-7

1-8 Four Functions of Management Figure 1.2 lanning PI Choose goals Controlling OrganIzing Monitor measure Working together Leading Coordinate " win/MeGraw-HHill OThe McGraw-Hill Companies, Inc, 2000

Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 2000 Four Functions of Management Figure 1.2 Planning Choose Goals Organizing Working together Leading Coordinate Controlling Monitor & measure 1-8

1-9 Planni ng Planning is the process used by managers to identify and select appropriate goals and courses of action for an organization 3 steps to good planning 1. Which goals should be pursued? 2. How should the goal be attained? 3. How should resources be allocated? The planning function determines how effective and efficient the organization is and determines the strategy of the organization. " win/MeGraw-HHill OThe McGraw-Hill Companies, Inc, 2000

Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 2000 Planning Planning is the process used by managers to identify and select appropriate goals and courses of action for an organization. 3 steps to good planning : 1. Which goals should be pursued? 2. How should the goal be attained? 3. How should resources be allocated? ◼ The planning function determines how effective and efficient the organization is and determines the strategy of the organization. 1-9

1-10 O rganizing oIn organizing, managers create the structure of working relationships between organizational members that best allows them to work together and achieve goals o Managers will group people into departments according to the tasks performed Managers will also lay out lines of authority and responsibility for members o An organizational structure is the outcome of organizing. This structure coordinates and motivates employees so that they work together to achieve oal Irwin/Megraw-Hill OThe McGraw-Hill Companies, Inc, 2000

Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 2000 Organizing ⚫In organizing, managers create the structure of working relationships between organizational members that best allows them to work together and achieve goals. ⚫Managers will group people into departments according to the tasks performed. ◼ Managers will also lay out lines of authority and responsibility for members. ⚫An organizational structure is the outcome of organizing. This structure coordinates and motivates employees so that they work together to achieve goals. 1-10