MGMT 371: Principles of ManagementPrinciples of ManagementChapter One: Introduction to Management & Organizations

Learning Outcomes1. Explain why managers are important to organizations2. Tell who managers are and where they work3. Describe the functions, roles, and skills of managers4. Describe the factors that are reshaping and redefining the managers job5. Explain the value of studying management

Why Study Management? The value of studying management The universality of management Good management is needed in all organizations What makes for a good manager? What happens when management is bad? The reality of work Employees either manage or are managedWhat is an Organization? Organization: a deliberate agreement of people to accomplish some specific purpose (that individuals independently could not accomplish alone). Common Characteristics of Organizations: Have a distinct purpose (goal) Composed of people Have a deliberate structureWho are Managers? Manager: someone who coordinates and oversees the work of other people so that organizational goals can be accomplished Distinction has been blurred in recent years Why do we need managers?Classifying Managers First-line Managers: Individuals who manager the work of non-managerial employees. Middle Managers: Individual who manage the work of first-line managers. Top Managers: Individuals who are responsible for making organization-wide decisions and establishing plans and goals that affect the entire organization.Kind of Managers by Area1. Marketing Managers2. Financial Managers3. Operations Managers4. Human Resources Managers5. Administrative Managers6. Specialist ManagersWhat is Management? Management: involves coordinating and overseeing work activities of others so that their activities are completed efficiently and effectively. Efficiency Doing things right Getting the most output for the least inputs Doing the work without wasting resources Effectiveness Doing the right things Attaining organizational goalsWhat do Managers Do? Functions Managers perform Planning Defining goals, establishing strategies to achieve goals, developing plans to integrate and coordinate activities. Organizing Arranging and structuring work to accomplish organizational goals. Leading Working with and through people to accomplish goals. Controlling Monitoring, comparing, and correcting work. Roles Managers Play Roles are specific actions or behaviors expected if a manager Mintzberg identified 10 roles: Interpersonal Roles Figurehead, leader, Liaison Informational Roles Monitor, disseminator, Spokesperson Decisional Roles Entrepreneur, disturbance handler, resource allocator, negotiator. Skills Managers Need Technical skills Knowledge and proficiency in a specific field. Human Skills The ability to work well with other people Conceptual Skills The ability to think and conceptualize about abstract and complex situations concerning the organization.Skills Needed at Different Management LevelsTop ManagerConceptual SkillsMiddle Managers Human SkillsLower-Level ManagersTechnical SkillsHow the Managers Job is changing Results only work environment The increasing Importance of Customers Social Media Innovation Sustainability: Ability to achieve business goals and increase long-term shareholder value by integrating economic, environmental, and social opportunities into business strategies.1

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