Notes Chapter 1 - 8.docx

Notes Chapter 1 - 8.docx - Chapter 1 The Art of Management...

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Chapter 1 The Art of Management Defined Getting things done. Through people. Thus, managers are task oriented, achievement oriented, and people oriented. And they operate within an organization—a group of people who work together to achieve some specific purpose. More formally, management is defined as (1) the pursuit of organizational goals efficiently and effectively by (2) integrating the work of people through (3) planning, organizing, leading, and controlling the organization’s resources. Note the words efficiently and effectively, which basically mean “doing things right.” Efficiency—the means. Efficiency is the means of attaining the organization’s goals. To be efficient means to use resources—people, money, raw materials, and the like—wisely and cost-effectively. Effectiveness—the ends. Effectiveness regards the organization’s ends, the goals. To be effective means to achieve results, to make the right decisions, and to successfully carry them out so that they achieve the organization’s goals. Here are just a few of the payoffs of studying management as a discipline: 1. You will understand how to deal with organizations from the outside. 2. You will understand how to relate to your supervisors. 3. You will understand how to interact with coworkers. 4. You will understand how to manage yourself in the workplace. The Rewards of Practicing Management 1. You and your employees can experience a sense of accomplishment. 2. You can stretch your abilities and magnify your range. 3. You can build a catalog of successful products or services. 4. You can become a mentor and help others. What Managers Do: The Four Principal Functions You perform what is known as the management process, also called the four management functions: planning, organizing, leading, and controlling. (The abbreviation “POLC” may help you to remember them.) 1. Planning is defined as setting goals and deciding how to achieve them. 2. Organizing is defined as arranging tasks, people, and other resources to accomplish the work.
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3. Leading is defined as motivating, directing, and otherwise influencing people to work hard to achieve the organization’s goals. 4. Controlling is defined as monitoring performance, comparing it with goals, and taking corrective action as needed. Seven Challenges to Being an Exceptional Manager Challenge #1: Managing for Competitive Advantage—Staying Ahead of Rivals Competitive advantage is the ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them. 1. Being Responsive to Customers 2. Innovation - Finding ways to deliver new or better goods or services is called innovation. 3. Quality 4. Efficiency Challenge #2: Managing for Information Technology—Dealing with the “New Normal” - Internet, the global network of independently operating but interconnected computers, linking hundreds of thousands of smaller networks around the world.
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