Principles of Management Lecture 1 - Management Tasks

The people responsible for supervising the use of an organisation’s resources to meet its goals.

Collections of people who work together and coordinate their actions to achieve a wide variety of goals or desired future outcomes.

Achieving high performance

measure of how efficiently and effectively managers use available resources to satisfy customers and achieve organisational goals

A measure of how well or how productively resources are used to achieve a goal

A measure of the appropriateness of the goals an organization is pursuing and the degree to which the organization achieves those goals

A product that customers want, but that is too expensive for them to buy.

Manager chooses the right goals to pursue, but does a poor job using the resources to achieve these goals.

A low-quality product that customers do not want.

Manager chooses wrong goals to pursue and makes poor use of resources.

A product that customers want at a quality and price they can afford.

Manager chooses the right goals to pursue and makes good use of resources to achieve these goals.

A high-quality product that customers do not want.

Manager chooses inappropriate goals, but makes good use of resources to pursue these goals.

• Planning
• Organizing
• Leading
• Controlling

Choosing appropriate organizational goals and courses of action to best achieve goals.

(Vision + mission, strategizing, goals + objectives)

Establishing task and authority relationships that allow people to work together to achieve organizational goals.

(Organizational design, culture, delegating, change mgmt)

Motivating, coordinating, and energizing individuals and groups to work together to achieve organizational goals.

(Leadership, motivation, communications, groups + teams)

Establishing accurate measuring and monitoring systems to evaluate how well the organization has achieved its goals.

(Evaluation, feedback, quality control, systems/processes)

• Responsible for performance of all departments
• Establishes organisational goals
• Decides how different departments should interact

• Monitors how well middle managers in each department use resources to achieve goals

• Supervise first-line managers
• find best way to use resources to achieve organizational goals

• Supervise non-managerial employees

A group of managers and employees who work together and possess similar skills or use the same knowledge, tools, or techniques.

• Conceptual skills
  the ability to analyze and diagnose a situation and distinguish between cause and effect
   
• Human skills
  the ability to understand, alter, lead, and control the behavior of other individuals and groups
   
• Technical skills
  Job-specific skills required to perform a particular type of work or occupation at a high level

• Building competitive advantage
• Maintaining ethical and socially responsible standards
• Managing a diverse workforce
• Utilizing IT and e-commerce
• Practicing global crisis management

• Ability of an organisation to outperform other organisations
• Produce desired goods or services more efficiently and effectively than competitors

• Efficiency
• Innovation
• Quality
• Responsiveness to customers

The people and groups that supply a company with its productive resources and so have a claim on and stake in the company.

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