CM 100 LECTURE 1

Organization
is a group of people working together in a structured and coordinated fashion to achieve a set of goals,
which may include
- profit
- the discovery of knowledge
- national defense
- the coordination of various local charities
- social satisfaction.

Managers
- are responsible for using the organization's resources to help achieve its goals.
- is someone whose primary responsibility is to carry out the management process.
-efficient, we mean using resources wisely, in a cost effective way.
- By effective, we mean making the right decisions and successfully implementing them. In general,
successful organizations are both efficient and effective.

Management
can be defined as a set of activities (including plan- ning and decision making, organizing leading, and
controlling) directed at an organization's resources (human, financial, physical, and information), with
the aim of achieving organizational goals in an efficient and effective manner.

efficient
we mean using resources wisely, in a cost effective way.

effective
we mean making the right decisions and successfully implementing them.

efficient and effective

In general, successful organizations are both ______ and ______

manager's job
is unpredictable and fraught with challenges, but it is also filled with opportunities to make a difference.

Good managers
can propel an organization into unprecedented realms of success, whereas poor managers can devastate
even the strongest of organizations.

- TOP MANAGERS
- MIDDLE MANAGERS
- FIRST-LINE MANAGERS
LEVELS OF MANAGEMENT

Top managers
- make up the relatively small group of executives who man- age the overall organization. Titles found in
this group include president, vice president, and chief executive officer (CEO).
- create the organization's goals, overall strategy, and operating policies.
-They also officially represent the organization to the external environment by meeting with government
officials, executives of other organizations, and so forth.
-is likely to be complex and varied.
-make decisions about activities such as acquiring other companies. investing in research and
development (R&D), entering or abandoning various markets. and building new plants and office
facilities.
-hey often work long hours and spend much of their time in meetings or on the telephone.
-In most cases, top managers are also very well paid.

Middle management
is probably the largest group of managers in most organizations. Common middle-management titles
include plant manager, operations manager, and division head.
-are primarily responsible for implementing the policies and plans developed by top managers and for
supervising and coordinating the activities.

First-line managers
- supervise and coordinate the activities of operating employees.
-are supervisor, coordinator, and office manager. Positions like these are often the first held by
employees who enter management from the ranks of operating personnel.

- Marketing
- Finance
- Operations
- Human resources
- Administration
- Some other Areas
AREAS OF MANAGEMENT
Organizations
generally have three levels of management, represented by top managers, middle managers, and first-
line managers. Regardless of level, managers are also usually associated with a specific area within the
organization, such as marketing, finance, operations, human resources, administration, or some other
area.of lower-level managers.

top and middle managers, first-line managers

typically spend a large proportion of their time supervising the work of their subordinates.

Marketing managers
work in areas related to the marketing function getting consu- mers and clients to buy the organization's
products or services (be they Samsung smart- phones, Toyota automobiles, Vogue magazines, Associated
Press news reports, streaming video rentals from Netflix, or lattes at Starbucks). - These areas include
new product development, promotion, and distribution. Given the importance of marketing for virtu-
ally all organizations, developing good managers in this area is critical.

Financial managers
- deal primarily with an organization's financial resources.
- They are responsible for activities such as accounting, cash management, and investments. In some
businesses, especially banking and insurance, they are found in large numbers.

Operations managers
are concerned with creating and managing the systems that cre- ate an organization's products and
services. Typical responsibilities of operations man- agers include production control, inventory control,
quality control, plant layout, and site selection.

Human resources managers

are responsible for hiring and developing employees. They are typically involved in human resource
planning, recruiting and selecting employees, training and development, designing compensation and
benefit systems, formulating per- formance appraisal systems, and discharging low-performing and
problem employees.

Administrative, or general, managers

are not associated with any particular manage- ment specialty. Probably the best example of an
administrative management position is that of a hospital or clinic administrator. Administrative managers
tend to be generalists; they have some basic familiarity with all functional areas of management rather
than specialized training in any one area."

THE MANAGEMENT PROCESS STEPS

1. Planning and Decision Making
2. Organizing
3. Leading
4. Controlling

Planning
- Setting the organization's goals and deciding how best to achieve them.

Decision making
a part of the planning process, involves selecting a course of action from a set of alternatives.

Planning and decision making

help managers maintain their effectiveness by serving as guides for their future activities. In other words,
the organization's goals and plans clearly help managers know how to allocate their time and resources.
Organizing
Once a manager has set goals and developed a workable plan, his or her next management function is to
organize people and the other resources necessary to carry out the plan.
- involves determining how activities and
resources are to be grouped.

Leading
- The third basic managerial function
- Some people consider leading to be both the most important and the most challenging of all
managerial activities.
-is the set of processes used to get members of the organization to work together to further the interests
of the organization.

Controlling
The final phase of the management process or monitoring the organization's progress toward its goals.
As the organization moves toward its goals, managers must monitor progress to ensure that it is
performing in such a way as to arrive at its "destination" at the appointed time.

Different fundamental management skills,

- Technical Skills
- Interpersonal Skills
- Conceptual Skills
- Diagnostic Skills
- Communication Skills
- Decision-Making Skills

Technical Skills
- are necessary to accomplish or understand the specific kind of work done in an organization.
- are especially important for first-line managers.
- These managers spend much of their time training their subordinates and answering questions about
work-related problems. If they are to be effective managers, they must know how to perform the tasks
assigned to those they supervise.

Interpersonal Skills
- the ability to communicate with, understand, and motivate both individuals and groups.
- As a manager climbs the organizational ladder, he or she must be able to get along with subordinates,
peers, and those at higher levels of the organiza- tion. Because of the multitude of roles that managers
must fulfill, a manager must also be able to work with suppliers, customers, investors, and others outside
the organization.

Conceptual Skills
depend on the manager's ability to think in the abstract., Managers need the mental capacity to
understand the overall workings of the organization and its environment, to grasp how all the parts of
the organization fit together, and to view the organization in a holistic manner. This ability allows them to
think strategically, to see the "hig picture," and to make broad-based decisions that set the overall
organization. Reed Hastings's idea to extend the payment model used by health clubs to the video rental
market came from his strong conceptual skills.

Diagnostic Skills
- Successful managers also possess dragonite skill
- kills that enable them to visualize the most appropriate response to a situation.

Communication Skills
- refer to the manager's abilities to both effectively convey ideas and information to others and
effectively receive ideas and information from others.
- these skills enable a manager to transmit ideas to subordinates so that they know what is expected, to
coordinate work with peers and colleagues so that they work well together, and to keep higher-level
managers informed about what is going on. In addition, communication skills help the manager listen to
what others say and understand the real meaning behind e-mails, letters, reports, and other written
communication.

Decision-Making Skills
Effective managers also have good decision-making skills.
- refer to the manager's ability to correctly recognize and define problems and opportunities and to then
select an appropriate course of action to solve problems and capitalize on opportunities. No manager
makes the right decision all the time. However, effective managers make good decisions most of the
time. And, when they do make a bad decision, they usually recognize their mistake quickly and then
make good decisions to recover with as little cost or damage to their organization as pos- sible.
Managers at Netflix made a poor decision when they decided to split their services into two businesses,
but they quickly reversed themselves before things got too bad.

Time Management Skills

Finally, effective managers usually have good time man- agement skills. Time management skills refer to
the manager's ability to prioritize work, to work efficiently, and to delegate work appropriately. As
already noted, managers face many different pressures and challenges. It is too easy for a manager to
get hogged down doing work that can easily be postponed or delegated to others. When this hap- pens,
unfortunately, more pressing and higher-priority work may get neglected."