- •Foundation of management
- •Importance of managers:
- •History of management
- •Global management
- •Global environment
- •Corporate Strategy
- •Decision making process
- •Decision making conditions
- •Decision Making Biases
- •Strategic management
- •Porter’s 5 forces
- •Tools for planning:
- •Contemporary planning techniques
- •Structures in org. Design
- •Employee performance management
- •Barriers to communication
- •Contemporary theories
Barriers to communication
Barriers – make communication not as effective as it should be, disturb comm. process
Filtering ((manipulation of info to make it favourable)
Info overload (info is greater than capacity)
Jargon (special terminology to communicate)
Emotions (how receiver feels)
Depensiveness (verbally attract others, sarcastic remarks)
National culture
Overcome barriers:
Use feedback
Simplify language
Listen actively
Constrain emotions
Watch nonverbal cues
Formal comm. – takes place within prescribed org. arrangements
Informal communication – communication that is not defined by org. hierarchy
Open workplaces:
Worklplaces- places with few physical barriers and enclosures.( how workplace is designed can affect productivity) Advantages: + visibility, + face to face communication, +supports collaboration, +socialization and constant learning.
Ethics:
Ethical communication – includes all relevant info, is true in every sense, not deceptive in any way. “e.g. establish clear guidelines for ethical behaviour”
THEORIES OF MOTIVATION
Motivation – process by which a persons’ efforts are energized, directed and sustained toward attaining the goal.
Maslow Hierarchy of needs:
Human needs physiological, safety, social esteem and self actualization for a hierarchy. (на верхушке пирамиды последнее и дальше)
McGregor X & Y:
Theory X – assumption that employees dislike work, are lazy, avoid responsibility
Theory Y – assumption that employees are creative, enjoy work and seek responsibility
Herzberg’s Two factor theory
Theory that claims that intrinsic values are related to job satisfaction, whereas extrinsic factors are associated with job dissatisfaction.
Hygiene factors – eliminate job dissatisfaction (supervision, policies, supervisor relationship, salary..)
Motivators – increase job satisfaction (motivation, recognition, responsibility, growth)
McClelland theory:
Three needs theory – sites three acquired needs (achievement, power, affiliation) as major motives at work.
Need for achievement – drive to succeed
Need for power – make others behave they wouldn’t behave otherwise
Need for affiliation – desire for friendly/close relationships
Contemporary theories
Goal setting
Proposition that specific goals increase performance, and difficult goals ether.
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Reinforcement
Behaviour is a function of its consequences
Reinforces:
(-) ignores needs (+) cause high engagement (+) influence behaviour
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Equity Theory
Suggests that employee compares his job input outcome ratio with relevance of others and makes then corrections.
Referents – persons, systems against which individuals compare themselves
Distributive justice – perceived fairness and allocation of rewards
(перерисуй картинку)
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Expectancy theiry
An individual tends to act in a certain way based on the expectation that the act will be followed by a given outcome.
Expectancy relationships- Perceived probability that an individual’s effort will result in a certain level of performance
-Instrumentality Perception that performance will result in attaining a desired outcome
- Valence – attractiveness of the reward (outcome)
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TYPES OF LEADERS
Leader - Someone who can influence others and who has managerial authority.
Leadership - What leaders do; the process of influencing a group to achieve goals.
Contemporary Views of Leadership
Transactional Leadership - leaders who guide or motivate their followers in the direction of established goals by clarifying role and task requirements
Transformational Leadership - leaders who inspire followers to transcend their own self-interests for the good of the organization by clarifying role and task requirements.
Charismatic Leadership - an enthusiastic, self-confident leader whose personality and actions influence people behave in certain ways.
Characteristics of charismatic leaders:
• Have a vision,• articulate the vision,• willing to take risks, achieve the vision,•sensitive to the environment,• Exhibit behaviours that are out of the ordinary
Visionary Leadership – A leader who creates and articulates a realistic, credible, and attractive vision of the future that improves upon the present situation.
Visionary leaders have the ability to:
Explain the vision to others, Express the vision through behaviour, Extend the vision to different leadership contexts
MANAGING POWER
Managing Power
– Legitimate power - the power a leader has as a result of his or her position.
– Coercive power - the power a leader has to punish or control.
– Reward power - the power to give positive benefits or rewards.
– Expert power - the influence a leader can exert as a result of his or her expertise, skills, or knowledge.
– Referent power - the power of a leader that arises because of a person’s desirable resources or admired personal traits.
Employee empowerment - Increasing the decision-making discretion of workers such that teams can make key operating decisions in developing budgets, scheduling workloads, controlling inventories, and solving quality problems-
Why Empower employees?
> Quicker responses to problems and faster decisions
> Addresses the problem of increased spans of control in relieving managers so they can
address other problems
THE CONTROL PROCESS
Controlling - the process of monitoring, comparing, and correcting work performance.
The controlling process:
Measure actual performance
Compare actual performance against standard
Take managerial action
Measuring: How and what to measure?
Sources of Information (How)
Personal observation (+)coverage of work activities, (-) personal biases Statistical reports: (+) show relationships, (-)info is limited Oral reports: (+)get info fastly, (-)cant be documented
Writte reports: (+)comprehensive, formal, (-)take more time to prepare |
Control Criteria (What)
Employees:
Budgets:
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Taking Managerial Action
> Immediate corrective action - corrective action that corrects problems at once in order to get performance back on track.
> Basic corrective action - corrective action that looks at how and why performance deviated before correcting the source of deviation
ORGANIZATIONAL PERFOMANCE
> Performance - the end result of an activity.
> Organizational performance - the accumulated results of all the organization’s work activities.
Types of control:
Feed forward - control - control that takes place before a work activity is done.
Concurrent control - control that takes place while a work activity is in progress.
Walking around - a term used to describe when a manager is out in the work area interacting directly with employees.
Feedback control -control that takes place after a work activity is done.
Financial Controls (Traditional Controls)
Ratio analysis
Liquidity (tests ability to meet short term obligations)
Leverage (total debt/total assests), (profits befre interests&taxes / total interest)
Activity (Sales/Inventory, Sales/Total assests)
Profitability (identifies generated profits, can measure efficiency of assets)
Budget Analysis:
Quantitative standards,
Deviations
