MAN2021 Schmelling by

Module 1

s3760318 — 2024-04-24 19:37:00 UTC

In module one, we learned about the roles and functions of managers. This is important to learn so that we can understand how each level of management functions. Which is why I put a top-down organizational structure to represent this topic.

Module 1

s3760318 — 2024-04-24 20:06:44 UTC

Henri Fayol established the foundation of modern management theory, which states how involving employees in management is an important part of the process. This is important since many companies now use this theory as part of their workplace. With all of this, it has led me to use Henri Fayol for this module.

Summary of Module 1

s3760318 — 2024-04-24 23:39:05 UTC

Within module one it explained how management functions as a process and the people who run management. The module goes on about different levels of management, which are top-level, middle, and first-line managers. Along with the module about the levels of management it describes the roles each level of management plays. The module also states certain skills a manager should have, which are technical, conceptual, and human skills. Lastly, the module explains the key functions of management; planning, organizing, leading, and controlling; which were built from Henri Fayol's management theory. From this module it has expanded my knowledge of the roles of management and how it functions, which will assist in my business management degree.

Module 2

s3760318 — 2024-04-25 22:04:12 UTC

In this video, Brooke Deterline speaks about the ways a person can create an ethical culture in their business. Since the video speaks about ethics, which is seen in this module, this is the reason I chose the video. The video is also important since it explains how to establish an ethical culture in a business.

Module 2

s3760318 — 2024-04-25 22:38:01 UTC

Tony Hsieh is the CEO of Zappos, who believes that creating and maintaining an organizational culture is valuable to any company. This is important since many companies try to create a work culture and diversity within their company. Which is why I choose Tony Hsieh for this topic.

Summary of Module 2

s3760318 — 2024-04-26 00:47:30 UTC

In module two, it explains how ethics, corporate social responsibility, and diversity are essential to an organization. Corporate social responsibility consists of certain concerns that an organization has established to work towards as part of its goal. This can be achieved by environmental efforts, philanthropy, ethical labor practices, and volunteerism. Each organization has some form of a code of ethics. The code of ethics are guidelines for employees to follow. Managers can help establish an ethical environment by practicing the code of ethics themselves and training employees in the code of ethics. Diversity allows employees to share new ideas and expand to new domains. As an organization having corporate social responsibility, ethics, and diversity is important but also creating a work culture is just as important. Creating an organizational culture allows employees to share the same values and goals. For what I have learned from this module I will be applying the materials to help find respectable companies I wish to work for.

Module 3

s3760318 — 2024-04-26 02:01:57 UTC

The World Trade Organization deals with the rules of trade between nations. This is important since in the module it explains how to globalize an organization and the World Trade Organization would be a part of the globalization process of an organization. Which is why I chose the World Trade Organization for this topic.

Module 3

s3760318 — 2024-04-26 02:46:09 UTC

McDonald’s is an example of a company that has gone global. This is important since the module explains about different strategies a company can use to globalize and McDonald's closely follows the multidomestic strategy that is explained in the module. Which is why I have chosen to use McDonald's for this topic.

Summary of Module 3

s3760318 — 2024-04-26 04:41:41 UTC

In module three, it explains how an organization can reach a global stance. The process of an organization going global is globalization. To keep the process stable, organizations like the World Trade Organization, the World Bank, and the International Monetary Fund regulate them. When an organization decides to start the globalization process, they must consider the political, economic, and cultural factors of a country. An example of this can be seen with culture, where organizations consider power distance, uncertainty avoidance, performance orientation, assertiveness, future orientation, humane orientation, institutional collectivism, in-group collectivism, and gender egalitarianism when going global. Along with those factors for globalization an organization will also examine the competition of their global market. The strategies to obtain globalization consist of export, standardization, multidomestic, and transnational strategies. This information from the module will assist me in the future when obtaining a job in management and having to take the organization global or manage a global organization.

Module 4

s3760318 — 2024-04-26 05:07:44 UTC

Porter's Five Forces is a management tool to determine a plan for an organization. This is important since the module explains how to plan for an organization and is the reason why I choose Porter's Five Forces Model.

Module 4

s3760318 — 2024-04-26 05:09:10 UTC

Decision making is also part of this module, which is why I chose the Rational Decision-Making Process model for this topic. This is important since the model explains the process of how to make a rational decision.

Summary of Module 4

s3760318 — 2024-04-26 05:13:22 UTC

In module four, it states how to start the planning regarding goals for the external environment and internal conditions. The best way to start the planning process is taking the process in a cycle instead of linear. There are many types of plans, which include long term, short term, operational, forecasting, scenario, and contingency planning. Management by objectives and SMART goals are ways to help define a plan. To assess how an organization will start planning it will need to analyze competitive advantage, create its own competitive advantage, have a value proposition for the organization, and use strategic management. There are strategies to help analyze the internal and external environment of an organization. These strategies are PESTEL, Porter's Five Forces, and SWOT. This is all part of the strategic management process that has four steps. Another part of module four is the decision process. When making decision information-related and circumstance, time-related are barriers to this process. Bias can distort the decision-making process as well. These biases include confirmation, framing, hindsight, anchoring, halo effect, overconfidence, status-quo, and pro-innovation biases. There are different styles of the decision-making process which include, optimizing vs. satisficing, intuitive vs. rational, and combinatorial vs. positional. Rational decision-making process is an important style that requires a person to carefully and strictly follow steps of the process. The decision tree shows the multiple ways a person can potentially decide on and its outcome. With this I will use the planning and decision processes to help guide me throughout my life.

Module 5

s3760318 — 2024-04-26 19:35:23 UTC

Within this module it speaks of different ways an organization can structure their business. Functional structure is one of those organizational structures used, which is why I choose an image of functional structure of a retail company. This is important since functional structure allows for a higher degree of specialization.

Module 5

s3760318 — 2024-04-26 19:44:16 UTC

In this video it explains each phase of Larry Griner's model of growth. This is presented in the module, which is why I chose this video. This is important since it explains each phase a business goes through.

Summary of Module 5

s3760318 — 2024-04-26 21:02:17 UTC

Within module five, it explains how to structure an organization. Some key elements to form an organizational structure are having a common purpose, coordinating effort within the company, specialized labor, divided labor between departments, and have a hierarchy of authority. In order to choose a structure for a business centralization, decentralization and formalization characteristics of a structure should be considered. After assessing elements to decide on an organizational structure, an organization can choose from functional, product, customer, geographic, and matrix structures that best fit the company. As the company grows team-based structure, network structure, and modular organization will keep the organizational structure stable. Larry Greiner's model of growth explains each phase that an organization will go through, along with the struggles of each phase. Flatter organizational structure is an organizational structure that is growing in companies since it allows for more employee empowerment. I can apply this information to my professional life and my educational life in business.

Module 6

s3760318 — 2024-04-26 21:30:19 UTC

Within this video it explains how HR works at Google along with its hiring process. I chose this video since human resources is part of this module. It's important to have a human resources department since they manage the legal parts of the company and the employees.

Module 6

s3760318 — 2024-04-26 22:40:36 UTC

This diagram presents all the forms of communication, which is another part of this module. It's important to know how to communicate properly, which is why I chose this diagram.

Summary of Module 6

s3760318 — 2024-04-27 01:31:43 UTC

Within module six, Human Resources management is explained. HR has many functions that they manage, which include training, development, compensation, safety, health, employee relations, labor relations and terminating an employee's contract when necessary. Human Resources will keep in accordance with the laws that deal with employee and workplace safety. HR is a part of the hiring process which goes through many steps. These steps are advertising open positions, screening applicants, conducting a preliminary phone interview, face-to-face interview, and placing a job offer. HR also oversees employee orientation and training of new employees. Human Resources have strategies to help employees develop. These development strategies can fall in either formal or informal development strategies. HR at some point will conduct a performance evaluation. Which consist of checklists, rating scales, comparative techniques, narrative techniques, 360 feedback, cost accounting and management by objectives are all ways to perform an evolution. Module six also covers communication. Business communication is the exchange of information between people in an organization. The primary components of communication are the message, the person who sends the message, the medium in which the message is being sent, and the person who is receiving the message. Communication follows three semiotic rules, which are syntactic, pragmatic, and semantic. There are many types of communication, which include oral, written, and electronic. Non-verbal communication is important as well since many people observe a person's body language. In management they should provide clarity, build relationships, create commitments and define expectations in order to create effective communication. The communication-process model presents how information is sent and received. Information in communication flows downwards, upwards, horizontally, and diagonally. The barriers that can be made in communication are physical conditions, filtering, selective perception, semantics, dentation, connotation, emotional disconnects, and credibility. With this information I will apply it to my personal and professional life.

Module 7

s3760318 — 2024-04-27 01:40:59 UTC

Within this module it explains leadership, which is why I chose this image that represents leadership. This is important since many managers might not be leaders but other employees in the company may have traits of a leader.

Module 7

s3760318 — 2024-04-27 01:42:00 UTC

This is a diagram of Abraham Maslow's hierarchy of needs pyramid. This is important since this show how the factors that motivate people, which is why I chose this diagram for this module.

Summary of Module 7

s3760318 — 2024-04-27 01:42:17 UTC

Within module seven, it explains how leadership functions. Leadership is an important part of management but not every manager is considered a leader. A leader should have the traits of extroversion, agreeableness, conscientiousness, openness, neuroticism, honesty, integrity, charisma, intelligence, creativity, motivation, need for power, oral communication, written communication, interpersonal skills, general problem-solving skills, technical knowledge, and management skills. There are many types of leadership, which include engaging leadership, authoritarian leadership, free-rein leadership, democratic leadership, transformational leadership, transactional leadership, emotional leadership, interactive leadership, moral leadership, servant leadership, shared leadership, and e-leadership. There are many theories to examine how leadership is successful, which are trait theory of leadership, contingency theory of leadership, behavioral theory of leadership, and full-range theory of leadership. Trait theory of leadership analyzes proximal characteristics and distal characteristics. Five behaviors that Kouzes and Posner have identified that make effective leadership are modeling the way, inspiring vision, enabling others to act, challenge the process and encourage the heart. In contingency theory of leadership there are many approaches to the theory. Fiedler's model examines leadership and situational context. Hersey and Blanchard's model examines leadership and followers. Path-Goal Theory examines leadership and task/follower characteristics. Finally, the Vroom-Yetton-Jago Model examines leadership and decision making. To develop leadership, one should conduct formal training, develop job assignments, give 360-degree feedback, coach others, and use self-directed learning. Within module seven motivation is explained as well. There are intrinsic and extrinsic types of motivation. Motivation is different for everyone which is why there are many theories and models to explain motivation. These models and theories include Maslow's Hierarchy of Needs, Herzberg's Two-Factor theory, Alderfer's ERG theory, McClelland's Acquired Needs theory, equity theory, and expectancy theory. Job rotation, job enlargement, and job enrichment are characteristics that affect motivation. With this information I will be applying this to my professional life.

Module 8

s3760318 — 2024-04-27 03:48:13 UTC

Henry Gantt created the Gantt Chart that allows for management to see the current schedule status of projects. This is important since managers need to control the performances and the operations of projects within a company. The reason I chose Henry Gantt is this module deals with the control process within an organization.

Module 8

s3760318 — 2024-04-27 03:57:09 UTC

Within the module it explains how managers need to control operations within the company, which is why I chose this diagram of break-even point. The diagram presents a picture for managers so they can analyze the data then control how they wish to proceed with the operation. This is important since many project managers use break-even point diagrams.

Summary of Module 8

s3760318 — 2024-04-27 03:57:36 UTC

Within module eight, it explains the process of control. In order to maintain control a company should define standards and objectives. For a company to make sure they are following objectives they should perform employee evaluations, organizational evaluations, examine internal data, and examine external data. If standards and objectives are not met management should take corrective action to solve the problem. There are different types of control, which include strategic, tactical, operational, bureaucratic and quality control. Quality management deals in the control of equipment, labor, supplies, customers, policies, and procedures. The RATER is a multidimensional approach that assists quality managers in pinpointing services that have shortcomings. The Gap Analysis is a tool that helps companies compare actual performance with potential performance. Six Sigma, Just-in-time, Pareto analysis, and the Five Whys are techniques used by total quality management. Henry Gantt created the Gantt charts, which display the expected duration of each stage of a project. Critical path method diagrams each step of a project. PERT chart represents tasks within a Critical path method diagram. Project managers use audits to control the quality, completion, and timing of a project. Project managers also control the inventory. Break-even analysis allows for project managers to control the operations efficiently. Ratio analysis is a way to control financial and operational efficiency of a project. Managers use balanced scorecards to track, monitor, update, and improve key performance indicators. Visual scorecards are graphical data of the balanced scorecard. Some barriers can appear when it comes to the controlling process. These barriers include resource scarcity, inaccurate measurements, and informational flow issues. I will use this information from module eight for my professional life within a business.