Summary Ch 1 Management Managers, and Careers

Working Today

- Talent
1. Intellectual capital: Collective brainpower or shared knowledge of a workforce.
2. Competency: Represents your personal talents or job - related capabilities.
3. Commitment: Represents how hard you work to apply your talents & capabilities to
important tasks.
4. Knowledge worker: Someone whose mind is a critical asset to employees.

- Technology
1. Tech IQ : Ability to use technology and to stay updated as technology continues to
evolve.

- Globalization
1. Globalization: Worldwide interdependence of resource flows, product markets, and
business competition.
2. Job migration: Occurs when firms shift jobs from a home country to foreign ones.
3. Restoring: Occurs when firms have more jobs back home from foreign locations.

- Ethics
1. Ethics: set moral standards of what is "good" and "right" in one's behavior. Corporate
governance: active oversight Of management decisions and performance by a company's
board Of directors.
2. Corporate governance: active oversight of management decisions and performance by a
company's board of directors.

- Diversity
1. workforce diversity: describes the composition of a workforce in terms of gender,age,
race, ethnicity, religion, sexual orientation, and able-bodiedness.
2. Prejudice: display of negative, irrational attitudes toward members of diverse
populations.
3. Discrimination: actively denies minority members the full benefits of organizational
membership.
4. Glass ceiling effect: invisible barrier limiting career advancement of women &
minorities.
 - Careers & Connections
1. Shamrock organization: operates with a core group of full-time long-term workers
supported by others who work on contracts and part-time.
2. Free-agent economy: people change jobs more often, and many work on independent
contracts with a shifting mix of employers.
3. Self-management: the ability to understand oneself, exercise initiative, accept
responsibility, and learn from experience.
4. Social networking: the use of dedicated websites and applications to connect people
having similar interests.

Organizations

- Organizational Purpose
1. Organization: collection Of people working together to achieve a common purpose.

- Organizations as systems
1. Open system: transforms resource inputs from the environment into produced outputs.

- Organizational Performance
1. Productivity: quantity & quality of work performance , with resource utilization
considered.
2. Performance effectiveness: output measure of task or goal accomplishment.
3. Performance efficiency: input measure of resource cost associated with goal
accomplishment.
 - Changing Nature of Organizations
Management trends and transitions:
1. Focus on valuing human capital.
2. Demise of "command-and-control "
3. Emphasis on teamwork.
4. Preeminence of technology.
5. Importance of networking.
6. New workforce expectations.
7. Concern for sustainability.

Managers

- What is a manager
1. Manager: person who supports, activates, and is responsible for the work of others.

- Levels Of Managers
1. Boards of directors / Board Of trustees: make sure an organization is well run and
managed in a lawful and ethical manner.
2. Top managers: guide the performance of the organization as a whole or of one of its
major parts.
3. Middle managers: Oversee the work Of large departments or divisions.
4. Team leaders: report to middle managers and supervise non-managerial workers.

- Types Of Managers
1. line managers: directly contribute to producing the organization's goods or services.
2. Staff managers: use special technical expertise to advise and support line workers.
3. Functional managers: responsible for one area, such as finance, marketing, production,
personnel, accounting, or sales.
4. General managers: responsible for complex, multifunctional units.
5. Administrator: manager in a public or nonprofit organization.

- Managerial Performance
1. Accountability: requirement to show performance results to a supervisor.
2. Effective manager: helps others achieve high performance and satisfaction at work.
3. Quality of work life: overall quality of human experiences in the workplace.
 - Changing Nature Of Managerial Work
1. Upside-down pyramid: view of organizations shows customers at the top being served
by workers who are supported by managers.

The Management Process

Management process: planning, organizing, leading, and controlling the use of resources to
accomplish performance goals.

- Functions of Management
1. Planning: process of setting goals and Objectives and making plans to accomplish them.
2. Organizing: process of defining and assigning tasks, allocating resources, and providing
resource support.
3. Leading: process of arousing enthusiasm and inspiring efforts to achieve goals.
4. Controlling: process of measuring performance and taking action to ensure desired
results.
 - Managerial Roles and Activities
1. Managerial Roles:

- Managerial Agendas and Networks

1. Agenda setting: develops action priorities for accomplishing goals and plans.
2. Networking: process of creating positive relationships with people who can help advance
agendas.
3. Social capital: capacity to get things done with the support and help of others.

Learning How To Manage

1. Learning: change in behavior that results from experience.

2. Lifelong learning: continuous learning from daily experiences.
3. Skill: ability to translate knowledge into action that results in desired performance.

- Technical Skills
1. Technical Skill: ability to Use expertise to perform a task with proficiency.

- Human and Interpersonal Skills

1. Human Skill /interpersonal skill: ability to work well in cooperation with other people.
2. Emotional intelligence: ability to manage ourselves and our relationships effectively.

- Conceptual & Critical-Thinking Skills

1. Conceptual Skill: ability to think analytically to diagnose and solve complex problems.