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MT140_Unit 2_Seminar Master - Welcome to MT140 Introduction...

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Welcome to MT140 Introduction to Management Professor Charles Fail Unit 2 Seminar – Foundations of Management This seminar is being recorded
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Agenda General Questions and Announcements Introduction Business Organizations as Open Systems Management Environmental Considerations / Q & A Major Management Theories / Q & A Conclusion of Seminar
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It Is Not That We Aim Too It Is Not That We Aim Too High And Miss It………. High And Miss It………. But That We Aim Too Low But That We Aim Too Low And We Reach It” And We Reach It” Michelangelo Michelangelo
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Unit 2 Objectives During this unit we will: 1. Identify significant past and current management theories 2. Describe the business organization as an open system 3. Identify the role of internal and external environmental factors in business
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Key Concepts Organizations are open systems that are influenced by their environment and in turn, influence their environment. All organizations must operate in a macroenvironment. All organizations must operate within a competitive environment.
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Businesses are Open Systems Organizations that are affected by, and that affect, their environment. The take in Inputs: In the form of goods and services to create products or services. They produce Outputs: In the form of goods or services. These are in constant interaction with the firm’s environment. These impact and are impacted by both the External Environment and the Macroenvironment.
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Inputs Into The Open System Raw Materials Services Equipment Capital ( Human Labor, Money, Intellectual, Managerial, etc .) Information ( Knowledge )
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