MGMT371- Ch 2 - MGMT 371 Chapter 2 The Manager Omni-potent...

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MGMT 371 Chapter 2 The Manager: Omni-potent or symbolic Omnipotent view of management - The view that managers are directly responsible for an organizations’s success or failure Symbolic view of management - the view that much of an organization’s success or failure is due to external forces outside managers’ control Q: Which view of management is correct? A: Both Symbolic and Omnipotent Constraints on Managerial Discretion 1. External environment 2. Organizational culture Component of External Environment Economic Global Political/legal Sociocultural Technological Demographics Economic environment Global economic recession - began with US home mortgage and soon affected business as credit markets collapsed. It didn’t take long for these economic troubles to spread worldwide Economic inequality - As economic growth has languished and sputtered, social discontent over growing income gaps has increased Demographic environment Baby boomers
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