MANAGEMENT chapter 1.pdf

MANAGEMENT chapter 1.pdf - MANAGEMENT CHAPTER 1 7/23...

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!. #. $. %. MANAGEMENT CHAPTER 1 7/23 Challenges: Change - most persistent pervasive and powerful challenge. Requires to gain employee acceptance Reasons: technology and globalization: creates a big market, in order to stand out you need to increase the value of your product. Understanding other countries culture is also key Educate your employees in order to change ex. Ask for feedback and tell how thats gonna help them As manager you want to minimize the resistance to change Resources- such as financial capital, Human Resources, physician resources and technology If not taken care of competitive advantage might me lost Strategically -make sure to evolve… establish goals and formulate strategies for achieving organizational goals. Implement strategies by accomplishing goals that contribute to the performance and build and organizations capabilities and leverage them for competitive advantage. MUST have goals and implement them for the companyʼs performance * COMPETITIVE ADVANTAGE* something thats gonna differentiate you from your competitors. Entrepreneurially - constant looking for new opportunities, identifying for new ideas and markets, and emphasizing actions to take advantage of uncertainty. Think out of the box BE INNOVATIVE S. W. O. T -analysis is used to see the external and internal environment of an organization INTERNAL EXTERNAL Strength. Weakness. Opportunities. Threats Historical approaches to management: Ancient China: merit based promotion. Strategic management
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$. Ancient Egypt: building of pyramids Roman Empire: planning and organizing roads and viaducts. MODERN MANAGEMENT: industrial revolution *What Do Managers Do?* -Functions manager serve are planning ,organizing, direction/leading, and controlling 1. PLANNING: Estimating future conditions
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