Principles of MGMT 1/11/12

Principles of Management 1/11/12

Managers organize resources, effectiveness, efficiency,, not to get jobs done, but to help others get their job done
-efficiency: getting work done with a minimum of effort, expense, or waste
= Output / Input
output= products and services
input= work resources (time, effort, labor, expenses)
-effectiveness: accomplishing tasks that help fulfill organizational objectives
Getting things done through others in an efficient and effective manner
Organizational resources:
– financial capital
– technology
– labor (human)
– Raw materials
– Information
Management functions
-planning
– organizing
– leading
– controlling
Planning: determining organizational goals and a means for achieving them
Organizing: assigning responsibility for task accomplishments
-ex. 3M- structural reorganization (engineers and production line meeting)
Leading is inspiring and motivating people; directing people’s activities to reach operational objectives
Controlling: monitoring progress toward goal achievement and taking corrective action when needed… 3 steps:
1. set standards
2. compare standards to actual performance
3. make changes to return performance to standards
Management Types – Vertical:
– top managers
– middle managers
– first line managers
Top managers: look at the structure as a whole, formulate strategies, long-term future goals (CEOs, VPs)
Middle managers: responsible for business units and departments, communicate & coordinate (allocation), implement strategies, supervise (general managers, regional managers, sales managers, etc.)
****First Line Managers: supervise employees (office managers, and supervisors)***** focus on daily goals
All managers must posses conceptual/human/technical skills
*first line managers have more technical skills than middle and top managers*
Managing skills:
– Conceptual skill: see the organization as a whole and the relationships among its parts (***top managers posses more conceptual than middle and first line)
– Human skill: work well with other, understand and motivate (aka interpersonal skills)
– Technical skills: ability to apply specialized procedures, techniques, and knowledge ( *** 1st line has more than middle and top****)
Management types – Horizontal:
-Functional Managers: responsible for a department that performs a single functional task (sales/marketing/economic managers)
– General Managers: responsible for several departments that perform different functions (plant manager, Macy’s department store managers)

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