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Managers and Management (Factors that Reshaping and Redefining Management,…

- - - - Managers==Direct and oversee the activities of others and may have work not related to overseeing others
  - - - Middle Managers manage other managers. and sometimes nonmanagerial employees, responsible translating the goals set by top managers into specific detailed tasks that lower level managers oversee. Exaples== agency head, unit chief, division manager or project leader
        
        First-Line Managers direct nonmanagerial employees, responsible for directing the day-to-day activities of nonmanagerial employees. Example==supervisor, shift manager or unit coordinator
        
        Team leader manage activities of a work team. The special category of lower-level managers has become more common as organisations have moved to using employees work team to do work. They typically report to a first line manager
- - - - The economic component encompasses factors such as interest rates, inflation, changes in disposable income, stock market fluctuations, and business cycle stages
      - The demographic component includes trends in population characteristics such as age, race, gender, education level, geographic location, income, and family composition.
        
        Demographics refers to the characteristics of a population used for purposes of social studies. It has a significant impact on how managers manage and include such factors as age, income, sex, race, education level, ethnic makeup, employment status, geographic location, and more.
        Age is a particularly important demographic for managers because the workplace often encompasses different age groups.
        Baby Boomers are those individuals born between 1946 and 1964. The sheer numbers of people in that cohort means they’ve had a significant impact on every aspect of the external environment (from the educational system to entertainment/lifestyle choices to the Social Security system and so forth) as they’ve gone through various life cycle stages.
        Gen X is used to describe those individuals born between 1965 and 1977. It followed the baby boom and is one of the smaller age cohorts.
        Gen Y (or the “Millennials”) encompasses those individuals born between 1978 and 1994. From technology to clothing styles to work attitudes, Gen Y is impacting organizational workplaces.
        Then, there are the Post-Millennials—the youngest identified age group, basically teens and middle-schoolers.8 This group also has been called the iGeneration, primarily because they’ve grown up with technology that customizes everything to the individual. Another name given to this age group is Generation C, since it’s a group that’s always been digitally connected.
        Demographic age cohorts are important to our study of management because large numbers of people at certain stages in the life cycle can constrain decisions and actions taken by businesses, governments, educational institutions, and other organizations
      - The technological component focuses on scientific and industrial innovations
      - The sociocultural component is concerned with societal and cultural factors such as values, attitudes, trends, traditions, lifestyles, beliefs, tastes, and patterns of behavior.
      - The political/legal component looks at federal, state, and local laws, as well as other countries’ laws and global laws. It also includes a country’s political conditions and stability.
      - The global component encompasses issues associated with globalisation and a world economy.
    - - Its impact on jobs and employment
      - The amount of environmental uncertainty,
        
        Environmental uncertainty refers to the degree of change and complexity in an organization’s environment.
      - The nature of stakeholder relationships
        
        Stakeholders:
        
        any constituencies in an organization’s environment that are affected by that organization’s decisions and actions
        
        Managers benefit from good management of stakeholder relationships because stronger relationships can improve the predictability of environmental changes, lead to more successful innovations, foster a greater degree of trust among stakeholders, and increase organizational flexibility to reduce the impact of change.
        
        Advantages
        Good stakeholder relationships can lead to desirable organisational outcomes such as improved predictability of environmental changes, more successful innovations, the greater degree of trust among stakeholders, and greater organisational flexibility to reduce the impact of change.
        Stakeholder management can affect organisational performance. Management researchers who have looked at this issue are finding that managers of high-performing companies tend to consider the interests of all major stakeholder groups as they make decisions.
        Another reason for managing external stakeholder relationships is that it’s the “right” thing to do. Because an organisation depends on these external groups as sources of inputs (resources) and as outlets for outputs (goods and services), managers should consider the interests of stakeholders as they make decisions. We’ll address this issue in more detail in the next chapter when we look at corporate social responsibility.