MO
what are the 4 Functional approaches
Planning and decision making, organizing, Controlling and Leading
Managment roles apporach
Interpersonal roles: Leader, Figurehead, Liason
Decisonal roles: Negotiator, Ressource allocater, Disturbance Handler, entrepeneur,
Informational roles: Spokesperson, Disseminator, Monitor
Skills and competencies approach
Political, Conceptual, Interpersonal, Technical
three characteristics of an organization
Goal, People, deliberate structure
efficnecy
doing things with the least amount of input while getting the most amount of output.
effectivness
doing the right things
Managment
getting things done effectively and efficiently through other people
8 steps of decision making process
(1) identify a problem, (2) identify decision criteria, (3) weight the criteria, (4) develop alternatives, (5) analyze alternatives, (6) select alternative, (7) implement alternative, and (8) evaluate decision effectiveness.
13 common decision- making errors and biases say 5
overconfidence, immediate gratification, anchoring, selective perception, confirmation, framing, availability, representation, randomness, sunk costs, self-serving bias, hindsight, and revision bias.
three approaches managers can use to make decisions.
Rational, bounded rationality, intuitive
Three ways to improve group decision making
Brainstorming, Nominal group technique, electronic meetings
key elements organizational design
work specialization, departmentalization, authority, power, and responsibility, centralization, and decentralization, the span of control, formalization
simple strucutre
high span of control, centralized, low departmentalization, little formalization
functional structure
groups similar or related occupational specialties together
divisional strucutre
made up of separate business units or divisions.
departmentalization how
Functional: based on work performed,
Customer: based on clients' needs
Product: based on products areas
Geographic: based on location
process: based on work or customer flow
span of control depends on
experience of employees, similarity of their tasks, complexity of tasks
planning
defining goals, setting strategy and developing plans to coordinate activities
controlling
overseeing activities ro make sure that they are done as planned
organizing
determining what needs to be done, how and by who
leading
directing and coordinating the work done by its people
Figurehead
representing the company inside it and outside (ceremonial)
liason
exchange of info between departments and external stakeholders
leader
inspires encourage and builds up morale
dissiminator
communicates useful information to subordinates nd team members
monitor
gathering intel for competitive advantage
spokesperson
give information to external stakeholders (ex PR)
resource allocator
distributing resources, fund allocation, cutting costs
entrepeneur
take initiative
negotiator
nogotiation for win-win situation
disturbance handler
resolving conflicts, ensures everything runs smoothly
small business owner is...
generalist: does a lot of different tasks
conceptual skills
analyze complex situations to make good decisions
technical skill
expertise, techniques and knowledge to perform tasks
political
creating power base and right connections
interpersonal
working well with others, motivate, mentor, delegate
heursitics
rule of thumb to simplify decision making
MNC
multi-national corporation a company that maintains operations in multiple countries
Global: centralized
Transnational: no borders
multidomestic: decentralized
sourcing skills from other countires
talent globalization
narrow focus in which managers only see through their own eyes
parochialism
vie that manager are directly responible for outcomes
omnipotent
much of failures are due to external enviroment
symbolic view
uncertantiy matric criteria
stable/dynamic, simple/complex
3 levels of strategy
corporate: Specifies what businesses to be in and what to do with those businesses.
competitive: How an organization will compete in its business(es)
functional: strategies used by an organization’s various functional departments
six strategic weapons important today
social media, big data tools, customer service, employee skills and loyalty, innovation, quality
The value of the controlling function is seen in three specific areas:
planning, empowering employees, protecting the workl´place