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Principles of Management. Lesson 14 Flexibility/Agility: Life Cycle of Firm, Diversity, Global Dimensions of Business (Material from Management by Schermerhorn). From Chapter 9: Flexibility in Strategy. Incrementalism

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Principles of management l.jpg

Principles of Management

Lesson 14

Flexibility/Agility: Life Cycle of Firm, Diversity, Global Dimensions of Business

(Material from Management by Schermerhorn)


From chapter 9 flexibility in strategy l.jpg
From Chapter 9: Flexibility in Strategy

  • Incrementalism

    • Modest and incremental changes in strategy occur as managers learn from experience and make adjustments.

  • Emergent strategies

    • Develop progressively over time in the streams of decisions that managers make as they learn from and respond to work situations.


From chapter 8 contingency planning l.jpg
From Chapter 8: Contingency Planning

  • Contingency planning

    • Identifying alternative courses of action that can be implemented to meet the needs of changing circumstances.

    • Contingency plans anticipate changing conditions.

    • Contingency plans contain trigger points.


From chapter 8 scenario planning l.jpg
From Chapter 8: Scenario Planning

  • Scenario planning

    • A long-term version of contingency planning.

    • Identifying alternative future scenarios.

    • Plans made for each future scenario.

    • Increases organization’s flexibility and preparation for future shocks.


From chapter 2 contingency thinking l.jpg
From Chapter 2: Contingency Thinking

  • Contingency thinking

    • Tries to match managerial responses with problems and opportunities unique to different situations.

      • Especially individual or environmental differences.

    • No “one best way” to manage.

    • Appropriate way to manage depends on the situation.


From chapter 2 peters and waterman s eight attributes of performance excellence l.jpg
From Chapter 2: Peters and Waterman’s Eight Attributes of Performance Excellence

  • Eight attributes of performance excellence:

    • A bias toward action

    • Closeness to the customer

    • Autonomy and entrepreneurship

    • Productivity through people

    • Hands-on and value-driven

    • Sticking to the knitting

    • Simple form and lean staff

    • Simultaneous loose-tight properties


From chapter 2 the learning organization l.jpg
From Chapter 2: Performance Excellence The Learning Organization

  • Contemporary businesses must learn to become learning organizations.

  • Core ingredients of learning organizations:

    • Mental models

    • Personal mastery

    • Systems thinking

    • Shared vision

    • Team learning


From chapter 6 life cycle of firm l.jpg
From Chapter 6: Life Cycle of Firm Performance Excellence

  • Life cycle of entrepreneurial firms

    • Birth stage

    • Breakthrough stage

    • Maturity stage

  • Each stage poses different managerial challenges and requires different managerial competencies.


Life cycle stages of a firm l.jpg
Life Cycle Stages of A Firm Performance Excellence

  • Maturity Stage

  • Refining the strategy

  • Continuing growth

  • Managing for success

  • Acceptance Stage

  • Establishing the firm

  • Getting customers

  • Finding the money

  • Breakthrough Stage

  • Working on finances

  • Becoming profitable

  • Growing

Fighting for existence

and survival

Coping with growth

and takeoff

Investing wisely

and staying flexible


From chapter 4 how is diversity managed in a multicultural organization l.jpg
From Chapter 4: How is diversity managed in a multicultural organization?

  • Diversity:

    • Describes differences among people at work.

    • How diversity is handled in the workplace reflects the organization’s culture.

      • Respect and inclusion.

      • Disrespect and exclusion.

    • A potential source of competitive advantage.


From chapter 4 how is diversity managed in a multicultural organization11 l.jpg
From Chapter 4: How is diversity managed in a multicultural organization?

  • Characteristics of multicultural organizations:

    • Pluralism

    • Structural integration

    • Informal network integration

    • Absence of prejudice and discrimination

    • Minimum intergroup conflict


Slide12 l.jpg

From Affirmative Action organization?

To Managing Diversity

Affirmative Action

Create upward mobility

for minorities and

women

Valuing Differences

Build quality

relationships with

respect for diversity

Managing Diversity

Achieve full

utilization of diverse

human resources


Diversity in teams l.jpg

Improved creativity – organization?

more ideas, perspectives

Less groupthink –

multiple viewpoints open

discussion

More concentration –

everyone tries hard

Mistrust

Negative stereotyping

Misunderstanding

Inefficiencies

Stress as pressure to perform builds

DIVERSITY IN TEAMS

What should happen

Why it may not


From chapter 2 what are continuing management themes of the 21st century l.jpg
From Chapter 2: What are continuing management themes of the 21st century?

  • Global awareness

    • Pressure for quality and performance excellence is created by a highly competitive global economy.

    • Has promoted increasing interest in new management concepts.

      • Process engineering

      • Virtual organizations

      • Agile factories

      • Network firms

    • Adoption of Theory Z management practices.


From chapter 5 what are the forms and opportunities of international business l.jpg
From Chapter 5: What are the forms and opportunities of international business?

  • Reasons for engaging in international business:

    • Profits

    • Customers

    • Suppliers

    • Capital

    • Labor


From chapter 5 what are the forms and opportunities of international business16 l.jpg
From Chapter 5: What are the forms and opportunities of international business?

  • Market entry strategies involve the sale of goods or services to foreign markets but do not require expensive investments.

  • Types of market entry strategies:

    • Global sourcing

    • Exporting

    • Importing

    • Licensing agreement

    • Franchising


From chapter 5 what are the forms and opportunities of international business17 l.jpg
From Chapter 5: What are the forms and opportunities of international business?

  • Direct investment strategies require major capital commitments but create rights of ownership and control over foreign operations.

  • Types of direct investment strategies:

    • Joint ventures

    • Foreign subsidiaries


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POPULAR CULTURE international business?“Differences that the Traveler Notices”

  • Time -- monochronic vs. polychronic

  • Space -- interpersonal distance & proxemics

  • Language -- high context vs. low context

  • Religion -- traditions and respect for them

CULTURE SHOCK -- discomfort felt when

experiencing cultural differences


From chapter 5 what is culture and how does it relate to global diversity l.jpg
From Chapter 5: What is culture and how does it relate to global diversity?

  • Popular dimensions of culture:

    • Language

      • Low-context cultures and high-context cultures

    • Interpersonal space

    • Time orientation

      • Monochronic cultures and polychronic cultures

    • Religion

    • Contracts and agreements


From chapter 5 what is culture and how does it relate to global diversity20 l.jpg
From Chapter 5: What is culture and how does it relate to global diversity?

  • Values and national cultures (Hofstede):

    • Power distance

    • Uncertainty avoidance

    • Individualism-collectivism

    • Masculinity-femininity

    • Time orientation


From chapter 5 what is culture and how does it relate to global diversity21 l.jpg
From Chapter 5: What is culture and how does it relate to global diversity?

  • Understanding cultural differences (Trompenaars):

    • Relationships with people:

      • Universalism versus particularism

      • Individualism versus collectivism

      • Neutral versus affective

      • Specific versus diffuse

      • Achievement versus prescription

    • Attitudes toward time — sequential and synchronic views.

    • Attitudes toward environment — inner-directed and outer-directed cultures.


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