Welcome to mt 140 unit 2 foundations of management
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Welcome to MT 140 Unit 2 – Foundations of Management. Cynthia Cherry. Unit 2 Outcomes. Identify significant past and current management theories Describe the business organization as an open system Identify the role of internal and external environmental factors in business.

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Welcome to mt 140 unit 2 foundations of management

Welcome to MT 140Unit 2 – Foundations of Management

Cynthia Cherry


Unit 2 outcomes
Unit 2 Outcomes

  • Identify significant past and current management theories

  • Describe the business organization as an open system

  • Identify the role of internal and external environmental factors in business





From Made to Stick by Chip Heath and Dan Heath



Businesses are open systems1
Businesses are open systems

INPUTS

Raw Materials

Services

Equipment

Capital

Information

Products

Services

OUTPUTS

Organization

Bateman/Snell: Management


The external environment
The External Environment

Bateman/Snell: Management


Competitive environment
Competitive Environment

  • Who is the competition?

  • How do they compete?

  • What are competitors doing?



Barriers to market entry1
Barriers to Market Entry

  • Government Policy

  • Capital Requirements

  • Brand Identification

  • Cost Disadvantages

  • Distribution Channels


Substitutes and complements
Substitutes and Complements

  • Substitutes: a potential threat

  • Complements: a potential opportunity


Management theories
Management Theories

  • Classical

  • Behavioral

  • Systems

  • Contingency


Classical approach
Classical Approach

  • Late 1800’s

  • “One best way”

    • Task definition

    • Dividing and simplifying tasks

  • Frederick Taylor, Fayol, etc.

  • Our current POLC is derived from Henri Fayol’s Theory circa 1917!


Behavioral approach
Behavioral Approach

  • Early 1900’s

  • Need to understand people attitudes and behaviors

  • Hawthorne Experiment


Systems approach
Systems Approach

  • 1930-1940

  • Organization is a set of interrelated parts that can be managed as a whole

  • Inputs, transformation, output, feedback

  • W. Edward Deming

    • Continuous improvement and process control


Contingency approach
Contingency Approach

  • 1960’s

  • “It depends”


Unit 2 assignments
Unit 2 Assignments

  • Reading, Chapter 2

  • Discussion Question

  • Assignment

  • Review


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