Quản trị kinh doanh - Chapter 1: Management in the 21st century

Chapter 1Management in the 21st CenturyDefine managementDescribe a manager’s four major tasksDescribe sustaining as a balanced approach to managementCompare and contrast different types of organizations, managers, and the decisions they makeExplain the purpose of organizational values, mission, and visionDemonstrate how focusing on skills and strengths leads to success as a managerLearning ObjectivesCritical thinking (p. 4)the ability to diagnose situations and predict patterns, which result in better decision making.mitigates biasesenlarges perspectives on a situationSeven steps involved in critical thinkingIntroductionSeven Steps to Changing Behavior with Critical Thinking (p. 5)Figure 1.1Management (p. 6)Process of working with people and distributing an organization’s resources to achieve goals efficiently and effectivelyManagers must ensure that the organization meets four success factorsWhat Is Management?Figure 1.2Every company needs managersManagers are always busyManagerial activities fall into two categoriesFocused on peopleFocused on technical mattersWhat Do Managers Do? (p. 7) How Is Management Both Art and Science? (p. 8)People-focused activitiesTechnically-focused activitiesFigure 1.3Managers’ bottom line defined by the “3 P’s”People – invest in the well-being of employees and provide interesting and rewarding jobs that offer the opportunity to be productiveProfit – ensure that the company is financially healthyPlanet – protect and support the environment, causes, and communitiesCorporate social responsibility (p. 9)How Do Managers Make a Difference?(p. 8)Planning - setting goals for the future, designing appropriate strategies, and deciding the actions and resources needed to achieve successOrganizing - orchestrating people, actions, resources, and decisions to achieve goalsLeading - motivating and communicating with people to achieve goalsControlling - monitoring activities, measuring results and comparing them with goals, and correcting performance when necessaryThe Four Management Functions(p. 10)Management Functions: Traditional View vs. Today’s Approach (p. 10)Figure 1.4Sustaining (p. 13)Balanced approach that involves seeing, analyzing, and designing systems to achieve long-term organizational, community, and environmental healthSustaining: A Balanced Approach to ManagementFigure 1.5Interpersonal roles – building relationships with coworkers and acting as a public symbol for the people they representInformational roles – require managers to gather, assess, and communicate information in support of the organization’s values, mission, vision, and goalsDecisional roles – making judgments and decisions based on available information and analysis of the situationManagement Roles (p. 14)Organization (p. 15)An entity formed and structured to achieve goalsOrganizations differ in size in the U.S.Managers at WorkFigure 1.6Start- up company – newly formed organization, with limited or no operational history (p. 15)Multinational corporation –operations in multiple countries that design, develop, and sell products and services all over the world (p. 16)Growth company – increases its annual revenue faster than its competitorsNon-profit organization – required by IRS to reinvest all profits back into the organizationStudent organization – group formed to further engage students in the college experienceManagers at Work (cont.)Types of managers (p. 17)Top managers – set the organization’s direction and make decisions that impact everybodyMiddle managers – report to top management and direct the work of first-line managersResponsible for divisions or departmentsFirst-line managers – direct daily activities for producing goods and servicesManagers at Work (cont.)Philosophical statements and beliefs managers use to allocate resources, provide consistent feedback to employees, make decisions, and foster organizational cultureValues - beliefs that shape employee and organizational behaviors (p. 18)Mission - organization’s central purpose intended to generate value in the marketplace (for-profit) or community (non-profit)Values, Mission, and Vision (p. 17)Vision - description of an optimal future one to ten years from now (p. 19)Values, Mission, and Vision (cont.)Figure 1.8To be successful, managers must demonstrate both:Effectiveness – level to which people or organizations achieve agreed-upon goalsEfficiency – using the smallest amount of resources to achieve the greatest outputSuccessful Management (p. 20)Skills - degree to which a person can effectively and efficiently complete a task, interaction, or process (p. 20)Conceptual skills – ability to think through complex systems and problems (p. 21)Technical skills – ability to perform job-specific tasksRelational skills – ability to collaborate and communicateStrengths - skills in which a manager demonstrates greatest aptitudePositive psychology (p. 22)Successful Management (cont.)Skills required by types of managersSuccessful Management (cont.)Figure 1.12