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4 Basic Management Functions:

Planning

Organization

Leading/ Influencing/ Motivating

Controlling

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Skills managers should have:

Technical- Specialized training for a specific position

Conceptual Skills- Visionary (reserved for top management)

Human Skills- The ability to communicate with others

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Module 2: Ethics and Corporate Social Responsibility

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Module 2: Ethics and Corporate Social Responsibility

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Ethics (integrity) -"Doing the right thing even when no one is looking". Includes morals, principles, and standards.

Business Ethics: Set of morals, principles, and standards that help guide the organization via "Code of Ethics" and "Code of Conduct". It also helps avoid lawsuits, protect employees, and protect the assets of the company.

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Module 2: Ethics and Corporate Social Responsibility

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Module 2: Ethics and Corporate Social Responsibility

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Has to do with contributing to an organization or community only if they make a profit through:

Philanthropy

Volunteering time and services

Ethical Labor Practices

Environmental Ethics

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Module 3: Management Within a Global Organization

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Module 3: Management Within a Global Organization

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Global organizations compete outside its native country.

Globalization is the exchange of goods and, services, capital, technology, and knowledge across international borders.

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Module 3: Management Within a Global Organization

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Module 3: Management Within a Global Organization

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Key characteristics of a globalization:

Political

Economic

Cultural

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Styles of decision making:

Optimizing vs. Satisfying- Settle or gather as much information as possible to choose the best option.

Intuitive vs. Rational- Making a conscious or subconscious decision.

Combinatorial vs. Positional- Link initial position with final outcome or preparing to react to an opponent.

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Module 5: Organizational Structure and Process

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Module 5: Organizational Structure and Process

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Common elements of an organization:

Common Purpose- What is your mission?

Coordinated Effort- Coordinate the work. Maximize resources with purpose in mind.

Specialization and Division of Labor- Divide task into separate jobs.

Hierarchy of Authority- Set formal positions based on reporting lines.

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Planning is the process of setting goals and defining actions to achieve them.

Stategic Planning (Long term planning)- Is planning for the entire organization (done by top level management) for 5 years or longer. They set goals, objectives, and future/ vision of organization.

Short Term Planning- Is 1 year or less addressing Operational plans (standing points), single use plans, budget, and benchmarking.

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Module 5: Organizational Structure and Process

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Module 5: Organizational Structure and Process

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Strategic management tools organizations use:

P.E.S.T.E.L- Political, environmental, social, technological, economic, and legal.

S.W.O.T- Strength, weaknesses, opportunities, and threat

Porter's 5 Forces- Threat of new entrance? Are there new substitutes for your product? is there competitive rivalry within the industry? What is the bargaining power of the buyer and supplier?

Competitive Analysis- What's your competitive advantage?

Differential Leadership- Unique features your product offers

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Module 6: Managing Human Resources and Communications

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Module 6: Managing Human Resources and Communications

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Communication is conveying information by the exchange of thoughts through:

Oral Communication

Written Communication

Electronic Communication

Emotions

Attitudes

Speech

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Module 6: Managing Human Resources and Communications

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Module 6: Managing Human Resources and Communications

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Human Resources is responsible for the culture at the organization. They are responsible for:

Training and Development

Compensation

Safety and Health

Employee and Labor Relations

Terminate contracts when necessary

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Motivation impacts performance. It energizes, controls, and maintains behavior. Some job characteristics that affect motivation is:

Job Rotation

Job Enlargement

Job Enrichment

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Leadership is establishing a direction and getting others to follow.

Management is about administering the detail involved in business operations.

Both can be used interchangeably.

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Module 8: Controlling Performance and Operations

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Module 8: Controlling Performance and Operations

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Organization control involves using strategy, tactics, and oversight in order to monitor and improve company processes.

Project and Management Tools of Control:

Gantt Charts

Critical Path Method (CPM)

PERT Chart

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Module 8: Controlling Performance and Operations

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Module 8: Controlling Performance and Operations

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Elements of Managing Control:

Condition or Characteristics- determine conditions of output and monitor them.

Sensor- integrate the various communications and data collecting.

Comparison with Standards- benchmark against previous organizational or competitive standards.

Implementor- address and test the issue