BMGT 364 Session 2 - Introduction to Management - Handouts

BMGT 364 Session 2 - Introduction to Management - Handouts...

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© Copyright 2012 Introduction to Management BMGT 364: Management and Organizational Theory Spring 2012; Session 2 Dr. Karen Wouters Department of Management & Organization
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© Copyright 2012  What is management?  Why is management  important?  Why do I need this class?  What skills are needed to  be successful?  Can management skills be  taught? Agenda
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© Copyright 2012 Quiz  1. Star performers are born, not made. TRUE /FALSE 2. Vision statements have no bearing on company performance TRUE/FALSE 3. Google is successful because they hire great people TRUE/FALSE          4. The most effective way to get people to change is through rational persuasion  (showing them data, etc.)   TRUE/FALSE  6. The use of forced ranking in performance evaluations improves company  productivity.       TRUE/FALSE 7. The easy part of completing an industry analysis is to identify your  competition  TRUE/FALSE              8. Pay is an effective motivator   TRUE/FALSE
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© Copyright 2012 “Management is the process of working with and through others to achieve organizational objectives. Central to this process is  the efficient and effective use of limited resources.”  (Kreitner 2006) Management Defined
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© Copyright 2012 Management Functions
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© Copyright 2012 Importance of Management Study of 968 U.S. firms; multiple industries 1 Explored firms’ adoption of high performance work practices  (valid HR practices shown to lead to better decision making) Firms that implemented high performance work  practices and whose managers demonstrated  competencies in leadership and teamwork skills had,  on average: lower turnover (by 7%) greater profitability/employee ($3,815) greater sales/employee ($27,044) greater stock market value/employee ($18,641) Source:  1    Huselid, M.A. (1995). The impact of human resource management practices on turnover, productivity, and corporate financial performance. Academy of Management Journal, 38 , 647. See also, Pfeffer, J., & Veiga, J.F. (1999). Putting people first for organizational success. Academy of Management Executive, 13 , 37-48.
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© Copyright 2012 Management Practices in Top Performing Companies Management Practices in Top Performing Companies Competitive Advantage  through People 1. Employment Security 1. Employment Security 2. Selective Hiring
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BMGT 364 Session 2 - Introduction to Management - Handouts...

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