Principles of Management

Principles of Management - • Leading motivating...

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Principles of Management: Chp 1 - Competitive Advantage : being better than competitors at doing valuable things for your consumers Factors: innovation- introduce new goods and services -Quality- excellence of your product -Service- giving people what they want and when they want it -Speed-fast and timely execution - Cost competitiveness- keeping costs low to achieve profits and offer profits attractive to consumers -Important to deliver ALL five - Management- the process of working with people and resources to accomplish organizational goals - need to be effective and efficient - Functions of management : planning, organizing, leading, controlling Planning- want to create value for stakeholders o Value- monetary amount associated with how well a job/good meets a users’ need Organizing- assembling and coordinating resources
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Unformatted text preview: • Leading- motivating employees to perform better • Controlling- monitoring performance and making changes -Management levels : • Top level – senior executives- responsible for overall management • Middle- translate goals into objectives • Front-line – supervise operational activities -Management skills-Technical – being able to perform a specialized task -Conceptual – being able to identify and resolve problems-Interpersonal - ability to communicate with others effectively -Emotional intelligence : skills of understanding yourself, managing yourself, and dealing effectively with others -Important to be: - a spet/generalist - self reliant -connected :-social capital-goodwill stemming from your social relationships...
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Principles of Management - • Leading motivating...

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