Management 301 Exam 1 study guide

Management 301 Exam 1 study guide - Management 301 Exam 1...

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Management 301 Exam 1 study guide Section I. Lecture Notes Leadership: intentionally influencing followers toward change through shared purpose and personal responsibility Intentionally- w purpose and a plan, a mission or vision Influencing- making you want to do something Followers- volunteer, do not have to Towards change- leadership begins w change, taking them to a better place Through shared purpose- buy-in, have to win their hearts And personal responsibility- of employee and employer Efficiency vs. Effectiveness Efficiency: Maximize output while minimizing inputs Effectiveness: Attaining appropriate goals 3 Levels of Management 1. Supervisor: focuses on short term tasks in particular job function 2. Middle Managers: translate the long term strategies into short term action 3. Executives: mirror image of supervisor, top level manager that deals with top level strategies for the entire organization 10 Roles a Manager can take on A. Decision Making roles 1. Entrepreneur: how to invest scarce resources 2. Disturbance handler: takes care of unexpected events 3. Resource allocator: direct where things go (people things time) 4. Negotiator B. Information Processing Roles 5. Monitor: watch, take the pulse, gather information, keep track of trends and data 6. Disseminator: (to spread out) shares info with the firm and who gets it
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7. Spokesperson: promotes the org in a positive way w vital information C. Interpersonal Roles 8. Leader 9. Liaison: somebody who connects and makes connections/ coordinates btw different departments and groups. 10. Figure head: you are a symbol of the company and its policies 6 Major Challenges for Managers Today 1. Increasing efficiency 2. Increasing effectiveness: often in the form of improving quality 3. Becoming more flexible and innovative in serving customers 4. PROPERLY USING IT: utilizing information technology 5. Maintaining high ethical standards 6. Leveraging the power of diversity: brings richness and texture, enhances everything we do History of Management Pre-Management Era Work was agrarian and craftsmanship. Competition was not typically harsh. Nepotism: hiring and promoting family members Adam Smith (1776): Wrote “The Wealth of Nations” Main point Why are some nations more advanced/wealthy than others? Pin factory. ..watched the manufacturing of pins….we must harness efficiency. Adam Smith’s Production Efficiency (3 parts) 1. Division of Labor: split up jobs upon the people 2. Specialization of Labor 3. Expertise Fredrick Taylor (Late 1800s): Father of scientific management, known author of the slogan, “One Best Way” Fredrick Taylor’s 4 Principles of Efficiency
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1. Study the work 2. Codify: write a code/ rules for standard operating procedures 3. Select the worker to fit the task 4. Pay for performance: piece rate pay Max Weber (1900s): German professor of sociology Max Weber’s 5 Principles of Efficiency 1. Manager’s formal authority comes from their position 2. Position comes from knowledge, skills, and abilities
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This note was uploaded on 01/26/2011 for the course MGT 301 taught by Professor Holbein during the Fall '08 term at Kentucky.

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Management 301 Exam 1 study guide - Management 301 Exam 1...

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