entrepreneurship lecture 2

[xerxes]

SUBJECT: Entrepreneurship

Lecture Given: June 18-30, 2009

POWER POINT PRESENTATION

Reference: Introduction to Management-Stephen Robbins and Mary Coulter

Principles of Economics-Karl Case and Ray Fair



Managers



• Someone who coordinates and oversees the work of other people so that the organizational goals can be accomplished.



Managerial Levels



• First-Line Managers: Managers at the lowest level of the organization that manage the work of non-managerial employees.

• Middle Managers: Managers between the first level and the top level of the organization who manage the work of First-Line Managers.

• Top Managers: Managers at or near the upper levels of the organization structure who are responsible for making organization-wide decisions and establishing the goals and plans that affect the entire organization.



Management



• Coordinating and overseeing the work activities of others so that their activities are completed efficiently and effectively.

• Italian word, MANAGGIARE which means “to train horses” or literally “to handle.”

• French words, MENAGER, “an act of guiding or leading” and MANEGER meaning “to direct a household” or “to economize.”

• To handle, direct economically, guide and lead.

• Management is what managers do.



• Efficiency: Doing things right or getting the most output from the least amount of inputs. (“doing things right” or concerned with the “means”)

• Effectiveness: Doing the right things or completing activities so that organizational goals are attained. (“doing the right things” or concerned with the “ends”)



What do Managers Do



• No two organizations are alike

• No two managers jobs are alike

• Three specific categorization schemes to describe what managers do:

Functions, Roles and Skills.







Management Functions



• According to the Functions approach, managers perform certain activities as they efficiently and effectively coordinate the work of others.

• Basic Management Functions:

Planning, Organizing, Leading and Controlling



• Planning: Management Function that involves defining goals, establishing strategies for achieving those goals and developing plans to integrate and coordinate activities.

• Organizing: Management Function that involves arranging and structuring work to accomplish the organization’s goals.

• Leading: Management Function that involves working with and through people to accomplish organizational goals.

• Controlling: Management Function that involves monitoring, comparing and correcting work performance.



Management Roles



• Specific Categories of Managerial Behavior.

• 10 Management Roles are grouped around interpersonal relationships, transfer of information and decision making.



Interpersonal Roles



• Managerial Roles that involve people and other duties that are ceremonial and symbolic in nature.

• Figurehead

• Leader

• Liason



Informational Roles



• Managerial roles that involve collecting, receiving and disseminating information.

• Monitor

• Disseminator

• Spokesperson



Decision Roles



• Managerial roles that revolve around making choices.

• Entrepreneur

• Disturbance handler

• Resource allocator

• Negotiator

Management Skills



• Technical Skills

• Human Skills

• Conceptual Skills



How the Manager’s Job is changing



• Technology

• Increased Security Threats

• Organizational and Managerial Ethics

• Increased Competitiveness

• Innovation



Historical Background



• Management has been around for thousands of years

• Two Historical events to the study of management:

In 1776, Adam Smith published The Wealth of Nations--- introduced the concept DIVISION OF LABOR (or job specialization)



Second important event, started in the late 18th century, is the INDUSTRIAL REVOLUTION.

Machine power was substituted for human power.

Forecast demand, ensure enough material was on hand, assign tasks to people, direct daily activities, etc.



Frederick W. Taylor



• Father of scientific management

• “one best way”



General Administrative Theory



• Focused on describing what managers do and what constitutes good management practice.

• Henri Fayol---principles of management (can be applied to all organizational situations)

• Max Weber--- bureaucracy (division of labor, defined hierarchy, detailed rules)



Quantitative Approach



• Use of quantitative techniques to improve decision making





Organization Behavior



• Field of study concerned with the actions of people at work.



Systems Approach



• Interrelated and interdependent parts arranged in a manner that produces a unified whole.



Contingency Approach



• Management approach that says that organizations are different, face different situations and require different ways of managing.



Current Trends and Issues



• Globalization

• Ethics

• Workforce Diversity

• Entrepreneurship

• Managing in an E-Business World

• Knowledge Management and Learning Organizations