Introduction to Business Management Notes
Management Revolution
Managers should:
• Do more with less.
• Engage employees’ hearts, minds, and energy.
• See change as natural.
• Inspire vision and cultural values that allow people to create a
collaborative and productive workplace.
Rapid Environmental Shifts
• Technology (e.g., social media & mobile apps)
• Move to knowledge/information-based economy.
• Rise of virtual work
• Global market forces
• Growing threat of cybercrime
• Shifting expectations
Management: Attainment of organizational goals in an effective and efficient
manner through planning, organizing, leading, and controlling organizational
resources.
Today’s effective manager is an enabler who helps people do and be their best.
Today’s best managers are “future-facing”.
What do managers do?
1. Set Objectives: Establish goals for the group and decide what must be
done to achieve them.
2. Organize: Divide work into manageable activities and select people to
accomplish tasks.
3. Motivate and communicate: Create teamwork via decisions on pay,
promotions through communication.
4. Measure: Set targets and standards; appraise the performance of the
employees.
5. Develop People: Recognize the value of employees and develop this
critical organizational asset.
The Process of Management:
1. Planning: select goals and ways to attain them
2. Organizing: assign responsibility for task accomplishment
3. Leading: use influence to motivate employees
4. Controlling: monitor activities and make corrections
Organizational Performance:
• Organization: Social entity that is goal- directed and deliberately
structured
• Organizational effectiveness: Degree to which the organization achieves
a stated goal.
• Organizational efficiency: Refers to the amount of resources used to
achieve an organizational goal.
• High performance: attainment of organizational goals by using resources
in an efficient and effective manner.
Management Skills:
• Three categories of skills: technical (web development etc.), human
(communication), conceptual (problem solving)
• The degree of the skills may vary, but all managers must possess the
skills.
• The application of management skills changes as managers moves up the
hierarchy.
Management Types: Vertical
• Top managers: Responsible for the entire organization
• Middle managers: Responsible for business units and major
departments
• Project managers: Responsible for temporary work projects involving
people from different levels and companies.
• First-line managers: Responsible for production of goods and services
Management Types: Horizontal
• Functional managers: Responsible for departments that perform a single
task.
• General managers: Responsible for several departments that perform
different functions.
Time Management: Using techniques that enable you to get more done in less
time and with better results, be more relaxed, and have more time to enjoy
your work and your life. It’s one of the greatest challenges new managers faces.
Manager Roles: Set of expectations for a manager’s behaviour.
Management roles accomplish four functions: planning, organizing, leading,
controlling.
3 categories of management roles:
Informational: Seek and receive information, forward the information to other
organization members, and transmit information to outsiders through reports
or speeches.
Interpersonal: Perform ceremonial and symbolic duties such as signing legal
documents, Direct and motivate the employees, and maintain information links
inside and outside of the organization.
Decisional: Initiate improvement, take corrective action, and represent team or
department’s interests.
