MQM notes - Organizations- Structural arrangements of...

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Organizations- Structural arrangements of people brought together to accomplish a goal. Hierarchy of performance. Markets- Where buyers and sellers congregate to bid on products or services. Does best when price is unclear. Examples are fresh markets and Ebay. Efficiency- Productivity; using minimum resources. Effectiveness- Achieving goals and ability to obtain goals. Organizational Performance- Indicator of how efficient and effective. Systems- A collection of interrelated entities that operate interdependently to achieve goals. The entities of a system achieve more by working together than by each entity working independently. Subsystems: -Input -Processing -Output Evolutionary Activity- Economic activity that occurs over a long periods of time; gradual activity allows the economy to expand or contract and organizations become more efficient because they weed out weak producers. Revolutionary Activity- Occurs periodically to forever alter the nature of business transactions; occurs when a new innovation, such as new methods of production, are introduced into the economy. Agrarian Period (pre 1830) - basic sculpting and trade Industrial Period (1830 – 1950) – Steam was a big influence and altered technology Knowledge Period (1955 – present) – * United States, Japan, and Germany are political leaders, and have the world’s best economies and GDP. Management- Process of achieving goals and objectives through efforts and contributions of others. Managers- Individuals, who use principles of management to guide, direct or oversee the work and performance of others. Planning- Determine objectives and strategies. Organizing- Structure of tasks and relationships to obtain goals. Leading- Influencing members in ways to accomplish goals. Control- Making sure organizations perform according to plan.
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First (1 st ) line management- Supervisors of operating employees. Middle Management- Supervise and coordinate the work of lower- level managers in a subunit of the organizations. Upper Management- Set directions for and oversee the operations of organizations. Vertical Specialization- Orders come from top and go down. Horizontal Specialization- CEO gives multiple orders to upper management. Technical Skills- Involves the ability to use techniques and resources. Analytical Skills- Involves the ability to analyze problems and develop solutions. Decision- Making Skills- Ability to make decisions by choosing between several equally viable alternatives greatly influenced by analytical skill. Computer Skills- Using software daily. People Skills- Ability to work with others and understand them. Communication Skills- Ability to communicate in ways that other people understand and to seek and use feedback from employees to ensure understanding.
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Chapter 5 Decision- A choice among competing alternatives. 1) Certainty- the decision maker has complete information about the
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This note was uploaded on 04/07/2008 for the course MKT 230 taught by Professor Bakir during the Spring '08 term at Illinois State.

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MQM notes - Organizations- Structural arrangements of...

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