Principles of Managment
Principles of Management 1.32
Principles of Management 1.32
Kartei Details
Karten | 74 |
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Lernende | 17 |
Sprache | English |
Kategorie | Englisch |
Stufe | Universität |
Erstellt / Aktualisiert | 10.12.2019 / 14.01.2025 |
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What are the 3 main ways of control
1. Output control
2. Behavior control
3. Clan control
What is output control
Disadvantages
- financial measures (quantitative, numbers, assessment)
- Organizational goals
- Operating budgets: how to use resources to achieve organizational goals efficiently
Disadvantage: difficult to create output standards that motivate at all levels
What is Behavior control
Disadvantages
direct supervision: monitor/observe actively, teach behavior f.eg. repair teams at airport
--> Micromanagement element, leads to red tape bureaucratic, less risk taking and innovation
management by objectives: Performance appraisal, feedback, evaluation, define goals (output), monitoring > people learn and behave better
Bureaucratic control: standard operating procedures, regulates behavior of divisions, functions, individuals
Risk assessment
Problems: expensive, managers can only manage small number of subordinates, can demotivate
What is clan control
norms, law, policy, peer pressure: “the way we do things around here”, create positive culture
To reasons why organizations need change
4 steps in change process
1.) Need to improve operations 2.) Need to respond to new events
- Assess the need for change: recognize problem and identify its source
- Decide on change to make: what org. ideal future state, identify obstacles to change
- Implement the change: will change occur top down, bottom up, introduce/manage change
- Evaluate change: compare prechange with postchange performance, use benchmarking (comparing performance with other high performing companies
What is Top down change
What is Bottom up change
Top-down change: after identifying change, managers quickly implement changes in org.
Bottom-up change: gradual, evolutionary approach to change, all levels work together to develop detailed plan
Difference between Data, Information, Knowledge
Data: raw, number, measure, meaningless (5 degrees)
Information: meaningful, processed, decision (cold)
Knowledge: complex; helps decision making (wear jacket, hat)
What are the 4 factors to determin usefulness of information
Quality: accuracy, reliability of information > affects quality of decision
Timeliness: availability of real-time information reflecting current conditions
Completeness: complete information > managers can control, achieve coordination, make decisions
Relevance: information suiting manager’s needs, circumstances to help make decisions
Define the term Information technology and Management information system
Information technology: sets of methods or techniques for acquiring, organizing, storing, manipulating, transmitting info
Effects of IT: helps create new product opportunities
Management information system (sub form of IT): specific form of IT managers utilize to generate specific, detailed info needed to perform roles effectively
Why do managers need to collect Information
- to decide
- to control
- to coordinate
where do they stand--> controlling; increase responsiveness to customers--> who are the customers-->define target group
What are two recent technology developments
- Artificial Intelligence: algorithms: search, customized advertisement, speech siri etc., sound data
- Blockchains: Bitcoins etc.; medicine
What are different systems to process information
Transaction process: cash register f.eg. (programmed decision making); routine
Operations Information system
Decision support systems: shows processed data
Expert system: e-medicine --> gives person knowledge, data, information etc. (decision tree)
Enterprise resource planning system: SAP, Oracle
e-commerce system: zalando etc. (nonprogrammed decision making)
Define these terms:
- B2B network
- Boundaryless organization
- Virtual organization
- Knowledge management system
- Global strategic alliances org. creates with suppliers, manufacturers, distributors to produce new product
- linked by computers, mobile tech, video teleconferencing, rarely face-to-face
- employees linked to orgs. Centralized info system and rarely face-to-face
- company-specific virtual information system--> knowledge of employees, sharing and integrating of expertise (wiki)
Disadvantage: you can be replaced easily
What are the four stages of the product life cycle
Embryonic stage: introductory, launching
Growth stage
Maturity stage
Decline stage: launching of new product --> Innovation
What are different types of Innovation
According to Object (Product, Process)
According to Sector (Organizational, Technological)
According to Intensity (Incremental, Radical)
a.) What is a manager?
b.) What is an organization?
a.) Person responsible for supervising the use of an organizations resources to meet its goals.
b.) Collection of people who work together and coordinate their actions to achieve a wild variety of goals.
What are a managers two performance goals?
What do they lead to?
1. Efficiency: as not to waste resources and measure how well we use them
2. Effectiveness: appropriateness of resources/goals we pursue and choose
- Productiveness
List the 4 objective tasks of a manager
-Planning: vision, strategy, set objectives
-Ogranizing: resources, achieve objectives, decision making, delegating
-Leading: imfluencing employee and their behavior
-Controlling: Evaluation, Feedback, Performance Management
List mintzbergs three managment categories and their subcategories
1. Decisional: Enterpreneur (develop g&s) , Disturbance handler (take corrective action, external environment, negociation)
2. Interpersonal: Figurehead (face of the company), Leader (example, orders to subordinate), Liaison (coordinate work, alliances)
3. Informational: Monitor (evaluate manager performance), Disseminator (inform about changes, communication, Spokesperson (advertising, public speeches)
List different levels of management and their main tasks
First-line managers: day-to-day supervision of non-managerial employees
Middle managers: supervise first-line managers, develop, utilize resources efficiently and effectively
Top managers: monitor middle managers (department), cross-departmental responsibility
CEO: responsible for performance in all departments
List the three managerial skills and their function
1. Conceptual skill: distiguish between cause and effect of a problem
2. Human skills: understanding, respect, control behavior
3. Technical skills: know-how, competence
What elements belong to the competitive advantage
- Innovation (renew, improve)
- Efficiency/Speed (use resources better than competition)
- Quality upkeeping/control
- Responsiveness to customers
Who are a companys stakeholders?
- customers
- community
- supplier and distributor
- employees
-shareholders/stockholders
-managers
What is the principle agent problem?
What ethical concerns are involved?
- When a manager makes decisions for himself and not for the company
- Information flow that is only available in managment level and doesnt go through the rest of the company
Scientific Management Theory
- Time period
- Main elements
- Disadvantage
- came up in 1913
- elimination of unnecessary motions so time could be saved: workers do only one task to be more efficient = job specialization
- as workers performance increased (mass production), managers required more work for sam pay; output was biggest concern
Administrative Management Theory
- main elements
- list Max Webers five principles
- control system leads to high efficiency and effectiveness, introduced bureaucracy
- P1: structure and authority comes from ones position
- P2: occupy positions because of performance and not rank
- P3: work distribution and of responsibilities comes from organization, job descriptions
- P4: hierarchically arranged authority, organizational chart
-P5: Rules and Regulations are to be followed (culture)
What did Fayols Prinicples of Management come up with?
- equality, treating employees with respect and order, more humanistic side of management, well being of members is important
Main elements of Behavioral Management Theory
-how managers should personally behave, encourage and motivate employees, human side and mechanical side are interrelated
What is the Hawthorne Studies and Human Relations about?
working productivity and working environment, nice place to work =no workers fatigue
managers should be trained on human front
What is Theory X and Theory Y
X: average employee is lazy, managers should closely supervise employees, strict rules and defined system of rewards and punishment
Y: employees are not lazy, will do whats best for organization, managers should provide opportunities for employees to self direct, necessary resources to achieve goals
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