AEM 220 Prelim 1 Study Guide - LECTURE 1—WHAT IS...

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K RISTIN C HEN AEM 220—P RELIM 1 S TUDY G UIDE L ECTURE 1—W HAT IS M ANAGEMENT ? Traditional authority Charismatic authority Rational legal authority Managers Manage… 1. Information 2. People 3. Actions 4 Functions of Management Planning Organizing Leading Controlling 4 Forms of Planning Pyramid of Management 3 Categories of Management Skills Technical skills (what he knows to do) HR skills (ability to interact w/ others + motivate) Conceptual skills (see role of their actions) Organizational Hierarchy CEO/President—develops strategic plan Top management—includes positions such as CIO, COO, CFO Middle management –responsible for tactical planning and controlling Supervisory management—directly oversees the activities of workers & evaluate their daily performance First level employees core repository of the technical skills of the organization L ECTURE 2—G UEST L ECTURER FROM C AREER D EVELOPMENT O FFICE Career Development Process Pyramid Career Development Model 1. Understanding yourself (interests, values, strengths) 2. Explore options (publications, volunteering, contacts, internships) 3. Take action (networking, applications, resumes, interviews) Influences on Career Choice 1. Life experience 2. Education 3. Family expectations 4. Personality 5. Birth order 6. Interests
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7. Strength 8. Values L ECTURE 3—B USINESS & THE B USINESS E NVIRONMENT 3 Objectives of Business Survival Growth Social Responsibility 5 factors of production Land (rarely increase) Labor (most immobile factor, after land) Capital (defines owner of firm) Entrepreneurship (most important and scarce) Knowledge/Technology (quantity never decreases) Forms of Participation in a Business Enterprise 1. Entrepreneurship (most complex) 2. Ownership (personal vs. institutional) 3. Employment 4. Others (customers, suppliers, government) Business Stakeholders (9) Stockholders Bankers Suppliers Government Employees Community Customers 4 obligations of social responsibility Community investments Environmental practices Ethical conduct Triple Bottom Line ( to maximize profits & make everyone happy) Profits Environmental sustainability Social responsibility L ECTURE 4—B USINESS O WNERSHIP Forms of Business Ownership 1. Sole proprietorship 2. Partnership 3. Corporation (most successful in terms of flexibility/growth; most gov’t problems) 4. Franchises 5. Cooperatives (business owned/controlled by ppl who use it) 6. “Non-Profit” Orgs Corporate governance —relationship of a company to its SHAREHOLDERS (NOT STAKEHOLDERS) Sarbanes - Oxley Act 1. Public Company Accounting Oversight Board 2. Prohibits audit firms from doing a variety of non audit work for clients 3. Companies must have independent audit committees 4. No company loans to company executives
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5. Top executives must certify company accounts L ECTURE 5—O RGANIZATIONAL S TRUCTURE
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This note was uploaded on 05/08/2008 for the course AEM 2200 taught by Professor Perez,p.d. during the Spring '07 term at Cornell University (Engineering School).

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AEM 220 Prelim 1 Study Guide - LECTURE 1—WHAT IS...

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