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Understanding the Global Context of Business and Management

Understanding the Global Context of Business and Management. Summer Business Institute Villanova School of Business. Overview. A bit of history The rise of globalization The modern organization What is management? Managerial functions Managerial roles What do you need to succeed?.

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Understanding the Global Context of Business and Management

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  1. Understanding the Global Context of Business and Management Summer Business Institute Villanova School of Business

  2. Overview • A bit of history • The rise of globalization • The modern organization • What is management? • Managerial functions • Managerial roles • What do you need to succeed?

  3. Feudalism to Capitalism • Feudalism: The absence of motivation on the part of the peasants gave rise to tenant farmers sharing in more of the till and toil of the land • Mercantilism: Merchants saw opportunities to trade at a profit • Capitalism: Mercantilism has evolved into Capitalism today, as private industrialists produce, trade, and distribute products

  4. A Bit of History… • The industrial revolution (1760-1830) • End of feudalism, colonial expansion, steam power, cotton mills, ironworks • Proliferation of factories • Coordination of effort in continual production of goods • Increasing change and the growth of capitalism, led to technological progress and the most significant change in the business system • Change was pervasive in both farming and manufacturing as the use of technology could be used more efficiently than labor such as steam power or interchangeable parts to build sewing machines to manufacture clothing • Rise of capitalism—emphasis on efficiency! • The assembly line – Ford videos, Nissan

  5. A Bit of History… CEO Top Management Middle Management Workers Structure of a Typical pre-1990 Organization

  6. A Bit of History… CEO, TMT, and Board of Dir. Middle Management SMWTs Structure of a Typical Modern Organization WHY??

  7. The Modern Organization Customers and Clients serve Operating Workers support Team Leaders and Managers support Top Managers

  8. The Rise of Globalization It has been said that arguing against globalization is like arguing against the laws of gravity. --Kofi Annan, former U.N. Secretary General From the streets of Davos to the streets of Seattle, there is a growing consensus that globalization must now be reshaped to reflect values broader than simply the freedom of capital. --John J. Sweeney, AFL-CIO president

  9. The Rise of Globalization • Increasing importance on cross-cultural management • The GLOBE study

  10. What Is Management? • Management is… • Working with and through others • Achieving organizational objectives • Balancing effectiveness and efficiency • Making the most of limited resources • Coping with a changing environment Business is like a car—it won’t run by itself except downhill. --Unknown

  11. Management in YOUR Life “Office Space” SBI Jay Wright Your job search Intramural Sports Your student club “The Office” Harry Potter Yanks/Red Sox/Phils/Orioles Greek life Your Parents Special Olympics Wildcat Sports Jay-Z VSB Dean Jim Danko Your Planner

  12. Managerial Functions—the “do” The “Big 4”: -Planning -Organizing -Leading -Controlling Controlling Planning Efficiency / Effectiveness Decision Making Leading Motivating Organizing Henri Fayol (1916) Communicating Staffing

  13. Functions of Management • Planning - choosing the business model and allocating resources and selecting goals • Organizing - creating task, culture and reporting relationships to coordinate and motive individuals to achieve the firm’s goals • Leading - creating a vision using power, influence, and persuasion for individuals to follow • Controlling - evaluating the accomplishment of the planned goals and adjusting as needed

  14. Managerial Roles—the “who” Henry Mintzberg—The Nature of Managerial Work (1980)

  15. Efficiency and Effectiveness • Efficiency - “doing things right”; focuses on resource usage • Effectiveness – “doing the right thing”; focuses on the task

  16. What Do You Need to Succeed? A X M X O = S • A = Ability, Skills, Competencies • M = Motivation • O = Opportunity • S = Success! • Key personal competencies • Leadership, self-objectivity, analytic thinking, behavioral flexibility, oral and written communication, personal impact, resistance to stress, tolerance for uncertainty

  17. Learning Points • Definition of management • The “modern” organization • Managerial functions vs. roles • What it takes to succeed as a manager! Inspirational Management Quote of the Day: A business that makes nothing but money is a poor kind of business. --Henry Ford (1863–1947), American industrialist

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