Have you all the following materials in your handout

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Have you all the following materials in your
handout?

• Main Lecture Notes
• Foundations of Modern Management
• Entrepreneurship v. Leadership(Dr. D. Carol)
• Entrepreneurship Unmasked (Dr. Y.Y. Wong)
• Quiz for Small Business Success
• Innovation Through Intrapreneuring
• Technopreneur Investment Incentive
• Technopreneur Home Office
• Technopreneur Employment Pass

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Week 3 Introduction to Organization,
Management and Entrepreneurs
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Week 3/1 The Basics of Organization and
Management Management Roles and Skills, and
Management Systems.
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IMPORTANT CONCEPT
Management
Manager
Organization
a group of people, with formally assigned roles,
working together to achieve stated goals
a person who organizes, leads, and controls the
work of others to achieve the organizations goals
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What is Management
Management is the collectivity of managers of
an organization and the study of what managers do
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Is Management a Science or an Art?

• A Science
• Founded on a body of theories (Classical,
  Behavioral, Quantitative, Contemporary,
  Systems. Read Foundations of Modern
  Management notes )
• Scientific methods are used in management
  research

• An Art
• Artistic Skills
• A Human Activity

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The Process of Management
Organizing Allocating and Arranging resources
Planning Setting goals deciding how best to
achieve them
The Process of Management
Leading Influencing others To work towards goals
Controlling Regulating activities To reach goals
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Planning
Examples of Planning
Forms of Planning
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Organizing
Organizing is to create a unified system to
support the strategies and goals of the company.
The resulting system is represented by the
Organization chart. We will address the process
of organization in detail in Week 6.
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Leading
Vision and Values of Good Leadership

• The manager must
• Have a vision and rally others around that
  vision. In doing so, the leader should be openly
  sensitive to the concerns of followers, give
  them responsibility, and win their trust.
• Establish corporate values. Values include a
  concern for employees, customers, and for the
  quality of the companys products.
• Emphasize corporate ethics. Ethics include an
  unfailing demand for honesty an insistence
  that everyone in the company gets treated
  fairly.
• Not fear change, but embrace it. The leaders
  most important job may be to transform the way
  the company does business so that its more
  effective and efficient. Leadership is a global
  issue.

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Leading

• Do things right

• Do the right thing

• Command and Control

• Inspire and empower

• Seek stability predictability

• Seek flexibility and change

• Are internally focused

• Are externally oriented

• Work within the firm

• Coordinate the whole system

• Are locally oriented

• Are globally oriented

• Think mostly of workers

• Think mostly of customers
• and other stake holders

Theories on Leadership will be addressed in
detail in Week 11.
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Controlling
The 5 Control Process steps
Establish Clear standards
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Good Management

Management Efficiency
Management Effectiveness
Good Management
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Effective Management
Efficient Management
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Effectiveness
The ability to choose appropriate goals and
achieve them. The goals must be appropriate, AND
must be achieved
Efficiency
The ability to make the best use of available
resources in the process of achieving goals
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What is an Organization
A group of people With formally assigned
roles Working together as a team To achieve
stated goals of group
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Who would ensure that each person knew what to
do?

• Who would see that they are trained?
• Who would hire them?
• Who would ensure that they work together
  harmoniously?
• Who would monitor to ensure that the stated
  goals are reached?

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Answer?
THE MANAGER
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Are you a Manager?

• Have you ever PLANNED a tour?
• Have you ever ORGANIZED a picnic?
• Have you ever LED a cheer-leading group?
• Have you ever CONTROLLED a crowd?

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A Manager is someone whoPlans, Organizes, Leads
and Controls the individualsand work of an
organizationso that the organization can
achieve its goals
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Most likely each one of you have, some point in
time, managed the affairs of others.
So, you are a Manager too!
A manager need not be managing a business
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Types of Managers

• President
• Vice President
• Chief Financial Officer

Top Managers
Executives

• Production Manager
• Sales Manager
• HR Manager

Middle Managers
Managers or Directors

• Production Supervisor
• Regional Sales Manger
• Chief Bookkeeper

First-Line Managers
Supervisors
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Types of Managers
The functional approach still represents the most
useful way of conceptualizing the managers job
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The Roles of Manager
Figurehead
Liaison
Leader
Spokesperson
Negotiator
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Mintzbergs 10 managerial roles

• Figurehead
• Performs symbolic duties of a legal / social
  nature
• Leader
• Builds relationships with subordinates and
  communicates with, motivates and coaches them
• Liaison
• Maintains networks of contacts outside work unit
  who provide help and information

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Mintzbergs 10 managerial roles

• Monitor
• Seeks internal and external information about
  issues that can affect organization
• Disseminator
• Transmits information internally that is
  obtained from either internal or external
  sources
• Spokesperson
• Transmits information about the organization to
  outsiders

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Mintzbergs 10 managerial roles

• Entrepreneur
• Acts as initiator, designer encourager of
  change and innovation
• Disturbance Handler
• Takes corrective action when organization faces
  important, unexpected difficulties
• Resource Allocator
• Distributes resources of all types, including
  time, funding, equipment and human resources
• Negotiator
• Represents the organization in major
  negotiations affecting the managers areas of
  responsibility

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What has the Attention of CEOs?
Setting vision and strategy Exploring Mergers
Acquisitions (M As) Reshaping corporate
culture And employee behavior Monitoring
corporate Financial information
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Use of management skills at different levels
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The Managers Changing Role
Todays manager has to be more of a Facilitator
and Team leader
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The Managers Changing Role

• He/She must be
• An Innovator
• An Entrepreneur
• A Competence Builder
• A Renewer

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Three Processes for Promoting Change
By management experts, Sumantra Ghoshal and
Christopher Bartlett
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The People Side of Management
LEADING, the management function that focuses on
the people aspects of what managers do,
is not just another step in the management
process, but an integral part of everything
managers do
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The People Side of Management
Everything a Manager Does Requires
LEADING
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The People Side of Management
Managers have to use their knowledge of how
individuals and groups interact within
organizations, to better accomplish
organizational goals and objectives
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The People Side of Management

• Getting department heads to work together
• Working with small groups of employees
• Dealing with inter-departmental conflicts
• Dealing with power and politics
• Expediting communication
• Understanding personal motivation and skills
• Influencing behavior of subordinates
• Correcting employee control problems
• Encouraging employees to change

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Successful Managers
Personality and Interests
Competencies
Achievements
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Competition and Change
Technology
Globalization
Deregulation
Political Change
Category Killers
Global Workforce
Human Capital
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The changing concept of an Organization

• Traditional
• Stable
• Inflexible
• Job-focused
• Individual-oriented
• Command-oriented
• Hierarchical relationships
• Employees work at organizational premise
  during specific hours

• New
• Dynamic
• Flexible
• Skills-focused
• Team-oriented
• Involvement-oriented
• Lateral Networked relationships
• Employees work remotely anytime

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The Modern Organization
ABB (Asea Brown Boveri)
The Future is Now
Cisco Systems
Saturn Corporation
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Fundamental Changes Facing Management
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The New Management

• Smaller units
• Team-based organizations
• Empowerment
• Flatter structures
• New power bases

• Vision and values
• Knowledge-based organizations
• Agents of change
• Leadership
• E-commerce

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REMINDER!

• Remember to read up the following material
• Foundations of Modern Management

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End of LectureThank You!