Mgmt ch 1-3
.docx
School
George Mason University**We aren't endorsed by this school
Course
MGMT 303
Subject
Management
Date
Dec 16, 2024
Pages
4
Uploaded by BaronSnailMaster856
Chapter 1: The Exceptional Manager: What You Do, How You Do ItThis chapter introduces the fundamentals of management, exploring what management is, the benefits it offers, and the critical skills and challenges associated with being a successful manager.Defining Management and Its BenefitsThe chapter begins by defining management as the pursuit of organizational goals efficiently and effectively.Efficiency involves using resources wisely and cost-effectively, while effectiveness focuses on achieving organizational goals. The text emphasizes the "multiplier effect," highlighting how good managers create value far exceeding their own individual contributions.Four Principal Functions of ManagementThe chapter outlines the four essential functions of management, which are integral to the management process:●Planning:Setting goals and determining how to achieve them.●Organizing:Arranging tasks, resources, and people to accomplish the work.●Leading:Motivating, directing, and influencing people to achieve organizational goals.●Controlling:Monitoring performance, comparing it with goals, and taking corrective action.Levels and Areas of ManagementThe chapter discusses the different levels and areas of management within an organization.●Levels of Management:Managers typically operate at four levels: top managers, middle managers, first-line managers, and team leaders.●Areas of Management:Managers can be classified as functional managers, responsible for specific departments, or general managers, overseeing broader organizational units.Manager's Roles and SkillsThe chapter examines the different roles managers play and the skills essential for success in these roles.●Manager's Roles:Managers engage in interpersonal, informational, and decisional roles, reflecting the diverse nature of their responsibilities.●Skills of an Outstanding Manager:Effective managers possess technical, conceptual, and human skills, enabling them to perform their duties effectively.
Challenges Faced by ManagersThe chapter identifies seven key challenges managers face in today's dynamic businessenvironment:1.Managing for Competitive Advantage:Staying ahead in a globalized marketplace.2.Managing for Diversity:Creating inclusive workplaces that leverage the diversetalents of employees.3.Managing for Globalization:Navigating the complexities of international business.4.Managing for Information Technology:Harnessing the power of technology to enhance efficiency and effectiveness.5.Managing for Ethical Standards:Making responsible decisions that uphold ethical principles.6.Managing for Sustainability:Balancing economic, environmental, and social considerations.7.Managing for Your Own Happiness and Meaningful Life:Finding fulfillment intheir work and personal lives.Career ReadinessThe chapter introduces the concept of career readiness, emphasizing the knowledge, skills, attitudes, and other characteristics individuals need to succeed in their careers. It stresses the importance of taking personal responsibility for career development.Chapter 2: Management Theory: Essential Background for the Successful ManagerThis chapter explores the historical and contemporary perspectives on management, providing a foundation for understanding the evolution of management thought and practice.Overarching PerspectivesThe chapter outlines two overarching perspectives on management:●Historical Perspective:Examines the evolution of management theory over time.●Contemporary Perspective:Focuses on current approaches to managing and leading.Historical ViewpointsThe chapter discusses three key viewpoints that have shaped the historical development of management:
●Classical Viewpoint:Emphasizes scientific management, administrative management, and bureaucratic organization.●Behavioral Viewpoint:Focuses on understanding human behavior and motivating employees toward achievement.●Quantitative Viewpoint:Uses mathematical techniques and data analysis to improve decision-making.Contemporary ViewpointsThe chapter explores the following contemporary perspectives on management:●Systems Viewpoint:Views organizations as interconnected systems composed of various parts working together.●Contingency Viewpoint:Emphasizes that the most effective management approach depends on the specific situation.Contemporary ApproachesThe chapter delves into the following contemporary approaches to managing and leading:●Learning Organizations:Organizations that facilitate continuous learning and adaptation.●High-Performance Work Practices:Practices that enhance employee engagement, motivation, and performance.●Shared Value and Sustainable Development:Approaches that integrate socialand environmental considerations into business strategy.Career ReadinessThe chapter highlights the importance of understanding the business, a crucial career readiness competency. This involves gaining insights into the industry, competitors, customers, and the overall business environment.Chapter 3: The Manager's Changing Work Environment and Ethical Responsibilities: Doing the Right ThingThis chapter explores the dynamic work environment managers face today, focusing on the importance of ethics, social responsibility, and corporate governance.The Triple Bottom LineThe chapter introduces the concept of the triple bottom line, representing people, planet, and profit. It emphasizes that businesses must consider their impact on social, environmental, and economic factors to achieve sustainable success.Stakeholders
The chapter identifies key stakeholders, both internal and external to the organization.Internal stakeholders include employees, owners, and the board of directors, while external stakeholders encompass customers, suppliers, competitors, and the community.Ethical and Social ResponsibilitiesThe chapter emphasizes the importance of ethics and values in effective management. It discusses ethical dilemmas managers face and various approaches to ethical decision-making. It also explores the concept of social responsibility, highlighting the organization's obligation to act in ways that benefit society.Corporate GovernanceThe chapter discusses corporate governance, the system of rules and processes that ensures accountability and ethical behavior within an organization. It emphasizes the importance of strong corporate governance in promoting transparency and responsible business practices.Career ReadinessThe chapter highlights the career readiness competency of professionalism/work ethic, emphasizing the importance of demonstrating integrity, ethical behavior, and concern for the greater good.Overall, Chapters 1-3 provide a comprehensive introduction to the world of management. They explore the fundamental functions, roles, skills, and challenges associated with being a manager. The chapters also delve into the historical and contemporary perspectives on management, emphasizing the importance of ethics, social responsibility, and corporate governance in today's dynamic business environment.