Principles of Management

Embeds human knowledge into a computer to solve problems that normally require human expertise (e.g. medicine)

Coordinates the functional activities necessary to move products from the design stage to the final cutomer stage

For trade (Zalando)

Helps create new product opportunity
Creates new and improved products

set of methods or techniques for acquiring, organizing, storing, or transmitting information

share their resources and know-how with a foreign company

Introduction stage

Growth stage

Maturity stage (peak)

Decline stage

raw, unsummarized, unanalyzed facts

organized and meaningful data used for decisions

Boundaryless (liked by computers, and rarely face-to-face)

Virtual (linked to information system, rarely face-to-face, infrequent visits)

Knowledge management system (systematizes the knowledge of its employees and facilitates the sharing and integrating of their expertise)

Negotiator (Decisional)
Entrepreneur (Decisional)
Disturbance Handler (Decisional)
Resource Allocator (Decisional)
Disseminator (Informational)
Monitor (Informational)
Spokesperson (Informational)
Liaison (Interpersonal)
Figurehead (Interpersonal)
Leader (Interpersonal)

Demographic
Political & Legal
(Socio)Cultural
Technological
Economic

PESTEL

-Concentration on 1 industry
-Vertical integration (backward, forward)
-Diversification (related, unrelated)
-International expansion (global strategy, multi-domestic strategy)

-Feedback
-Task identity
-Autonomy
-Skill variety
-Task significance

-Stockholders
-Managers
-Customers
-Community, society, and nation-state
-Suppliers and distributors
-Employees

-Empowerment of the employees

-Outsourcing

-Restructuring

Planning
Controlling
Organizing
Leading

Top management
Middle management
First-level management

-Conceptual 

-Technical

-Human

-responsiveness to customers
-innovation
-efficiency
-quality

-managing diverse workforce
-building and maintaining competitive advantage
-maintaining ethical and socially responsible standards
-IT and e-commerce
-global crisis management

-discipline
-initiative
-unity of command
-renumeration of personnel 
-unity of direction
-line of authority
-divison of labor
-centralization
-esprit de corps
-subordination of individual interests to the common interest
-stability of personnel
-authority and responsibility
-order
-equity

1. Formal authority derives from one's position
2. you get positions because of your performance
3. Authority and responsibilities are specified by the organization
4. Authority is effective when there's a hierarchy
5. Rules are followed and control behavior

1. Scientific management theory
2. Administrative management theory
3. Behavioral management theory
4. Management science theory
5. Organizational environment theory

-Age
-Religion
-Gender
-Socio-economic background
-Ethnicity
-Race
-Capabilities/Disabilities
-Physical appearance
-Sexual Orientation
-Education
-Experience

-different points of view and approaches
-improved managerial decision making
-retain employees
-creative ideas
-expected by shareholders
-understand diverse customers

-reward for effectively managing diversity
-empower employees to challange discriminatory bahviors, actions, remarks
-encourage flexibility
-secure top management commitment
-increase accuracy of perceptions
-increase diversity awareness
-pay attention to how members are evaluated
-increase diversity skills
-training
-consider the data
-encourage mentoring of diverse employees

Orientation
-valuing achievement orientation
-valuing nurturing orientation
-long-term orientation
-short-term orientation

Power distance
-high: inequalities between citizens are okay
-low: inequalities between citizens are not allowed

Uncertainty avoidance:
-low: value diversity
-high: expect high confirmity with their own beliefs

Individualism vs collectivism

sentiment
inflation
interest rate
unemployment
investment