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BBA 121 Principles of Management

S. ChanHead, Department of Business Administrationhttp://home.chuhai.hk/~charmaine/charmaine@chuhai.edu.hk

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Lecture 1

The Management Process Today

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What is Management?

Management The planning, organizing, leading, and

controlling of human and other resources to achieve organizational goals effectively and efficiently

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What is Management?

Organizations Collections of people

who work together and coordinate their actions to achieve a wide variety of goals

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What is Management?

Managers The people responsible for supervising the use of

an organization’s resources to meet its goals Resources include people, skills, know-how,

machinery, raw materials, computers and IT, and financial capital

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Achieving High Performance

Organizational Performance A measure of how efficiently and effectively

managers use organizational resources to satisfy customers and achieve organizational goals

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Organizational Performance

Efficiency A measure of how

well or productively resources are used to achieve a goal

Effectiveness A measure of the

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

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Efficiency, Effectiveness, andPerformance in an Organization

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Four Tasks of Management

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Planning

Planning Process of identifying and selecting appropriate

goals and courses of action

Strategy cluster of decisions about what goals to pursue,

what actions to take, and how to use resources to achieve goals

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Steps in the Planning Process

1. Deciding which goals to pursue2. Deciding what strategies to adopt to attain

those goals3. Deciding how to allocate organizational

resources

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Organizing

Organizing Structuring working relationships in a way that

allows organizational members to work together to achieve organizational goals

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Organizing

• Organizational Structure – A formal system of task and reporting

relationships that coordinates and motivates organizational members so that they work together to achieve organizational goals

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Leading

Leading Articulating a clear vision and energizing and

enabling organizational members so they understand the part they play in attaining organizational goals

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Controlling

Controlling Evaluating how well an organization is achieving

its goals and taking action to maintain or improve performance

The outcome of the control process is the ability to measure performance accurately and regulate efficiency and effectiveness

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Levels and Skills of Managers

Department A group of people who work together and

possess similar skills or use the same knowledge, tools, or techniques to perform their jobs

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Levels of Management

First line managers Responsible for the daily supervision of non-managerial

employeesMiddle managers

Supervise first-line managers and are responsible for finding the best way to use resources to achieve organizational goals

Top managers establish organizational goals, decide how departments

should interact, and monitor the performance of middle managers

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Levels of Managers

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Levels of Managers

Top-management team A group composed of the CEO, the COO, and the

vice presidents of the most important departments of a company.

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Question?

Which management skill is the ability to understand, alter, lead, and control the behavior of other individuals and groups?A. ConceptualB. HumanC. TechnicalD. Technological

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Managerial Skills

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 The job-specific knowledge and techniques

required to perform an organizational role.

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Question?

What is the specific set of abilities that allows one manager to perform at a higher level than another manager?A. Skill-setsB. SKAsC. CompetenciesD. Skill traits

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Technical Skills

Core competency Specific set of skills, abilities, and experiences that

allows one organization to outperform its competitors

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Types and Levels of Managers

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Challenges for Management ina Global Environment

Rise of Global Organizations.

Building a Competitive Advantage

Maintaining Ethical and Socially Responsible Standards

Managing a Diverse Workforce

Utilizing IT and E-Commerce