Understand management process

Coordinating people and other resources to achieve goal

material resource: tangible&physical

human resource: most impact, comployee happy: productivity and relationship with customer

financial resource: fund use to meet obligations to investors and coordinator

information: external environment change rapidly -> information about competitor and change to survive

Basic management function

planning: establish goals and how to achieve it

mission: a statement of basic purposes made organization different from others

strategic planning process (outline how plan is implemented): establish major goals and objective and allocate resources

establish goals and objective

  • goal (long-term): end result expect 1-10 year period
  • objective (small): statement detailing what to accomplish in short period

goals are set in every level (high-> low)

conflict arise among levels but goals must be consistent ...-->balance between conflicting goals, require insight and ability ..eg: marketing (wide-selection) vs. production (limited selection) .-> sol: after the only most popular one

SWOT analysis:

  • Strength: internal factor characteristic and core competence (give advangtage over competitors) by attract financial and HR
  • Weakness: internal limitations in developing and implementing plans
  • Opportunities: favorable condition if properly exploited
  • Threat: conditions and barriers prevent from reaching goal
    (threat of one can be opportunity for others)

Types of plans

plan: outline of actions intended to accomplish

strategic plan: broadest, for major policy settings and decision making, long-term

tactical plan: smaller scale (1-3yrs) to implement strategic, update periodically

operational plan: implement tactical

contigency plan: alternative action if other is ineffective (disaster, criminal, ethical...)

Organizing the enterprise: grouping resources and activities to accomplish end result effective and efficient

Leading and motivating (HR)

leading: influence people to work toward common goal

motivating: provide reason to work

directing: leading + motivating

Controlling ongoing activities

controlling: evaluate and regulate ongoing activities to ensure goals are achieved
1) setting standard: performance compared
2) measure actual performance: compare with standard, repeated periodically until goal is achieved
3) take corrective action

Kinds of managers

Level of managers

Top manager:guide and control overall, develop organization mission, determine firm strategy

middle manager: implement strategy and major policies from top-manager, develop tactical and operational plan, coordinate and supervise activities of first line manager

First-line manager: coordinate and supervise activities of operating employees, work with and motivating employees, answer questions, solve daily problems

Areas of management specialization

Financial manager: accounting and investment (CEO, president)

Operation managers: manage system convert resource into goods

Marketing managers: exchange of product between organization and its customers, marketing research, product management, advertisement, promotion, sales, distribution

HR managers: HR planning, design system for hiring, training, evaluating, performance, ensure regulation

Administrative managers: overall guide and leadership, not specialized

Skills of managers

Conceptual skill: ability to think in abstract terms, see "big picture", understand how parts works together
eg: optimization of goals

Analytic skill: able to identify problem, generate alternatives and select best one by recognize underlying reasons, address situation and correct initial problem

Interpersonal skill: able to deal with people in and out of organization

Technica skill: specific skill for specialized activity, to train subordinates, answer questions, provide guidance but not perform themselves, not rely on this skill

Communication skill: able to listen, speak and write effectively, presentation, conduct interview, hold press conference, letter...

Leadership (able to influence others, voluntary cooperation)

Formal and informal leadership

formal: authority legit to influence other to work toward the objective

informal and formal: make use of power(grant reward/punish) expert knowledge and charisma

informal may turn group against manager

Style of leadership (collab, negotiate, coach)
should balance interaction with worker, characteristic of worker situation and manager's personality

Aucratic leadership: task-oriented, worker are told without have a say in decision

Participative leadership: all members involved

  • consultative leadership: ask opinion but final authority for themselves
  • consensus leadership: seek input from others and modify decision on that
  • democratic leadership: final authority for the group by vote

Entrepreneurial leadership: personality based, seek to inspire workers to benefit all stakeholder, task-oriented, driven, charismatic, enthusiastic, take initiative, visionary, invest for success

Managerial decision making: choose one alt (in)formally
identify -> generate alt -> select alt -> implement and evaluate

Identify problem/opportunity

problem: discrepancy between actual condition and desired condition, can negative or positive

difficulty:

  • preconceptions of problems prevent them from seeking acutal situation, give answer before ask proper questions -> focus on significant issue
  • mistakenly analyse by symptom instead of underlying causes

must always prepared, clarify situations, examine case and see absence of variable alter a situation, how individual behavior and value effect the way it is defined

Generating alternatives

open to innovative and obvious answers

techniques:

  • brainstorming, encourage to produce as many ideas, everyone must participate
  • trial and error

Select an alternative

influence by financial constraints, human and information resources, time limit, legal obstacles, political factors -> must ellective and practical

sometimes combine alternatives

satisfice: situation only adequate, not ideal, when lack time or information

Implement and evaluate the solution

require time, planning, preparation of personel, evaluate of result

evaluate effectiveness: remove the difference between actual and desired result?

  • if not, choose:
    +) decide to give alt more time
    +) adopt another alt
    +) start problem identification all over

failure is detrimental