Introduction to Management

1. Environment: Current contexts: technological, socio-political, economic, demographic, political, legal, competitive
2. Resources
   1. Tangible (people, plant, $)
   2. Intangible (reputation, knowledge)
3. History: Past behaviour/policies/performance

1. Formal (organisation): explicit, codified aspects of the organisation (structure, rewards, control systems)
2. Informal (organisation): implicit, assumed aspects of the organization (culture, values, communication patterns)
3. People: characteristics of members of the organisation (demography, personality, skills, motivation)
4. Work: characteristics of jobs and how jobs are related to each other

Are we performing effectively on the following levels?

1. Organisation
2. Group
3. Individual

Strategy

The practice of planning, structuring, leading and controlling organizations.

Administration, setting the strategy, coordination, application of available resources (financial, human, naturla, technological).

• Special type of organisation
• Technicals knowledge
• Clearly defined structure (officies, which have defined competencies)
• Fixed salaries and career
• Hiring based on technical skills
• Seperation of operations and ownership

The higher the congruence among the elements, the greater the performance.

Fits and misfits can exist

• among different elements of the transformation process and strategy (“internal fit”)
• between strategy and environment (“external fit”)

1. Threat of new entrants
2. Bargaining Power of Buyers
3. Threat of substitute products or/and services
4. Bargaining Power of Suppliers
5. Rivalery among existing competitors

Basic question: should we enter, or stay in (if already entered), this ‘industry’?