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Understanding Management: Key Concepts and Practices

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This review provides an overview of fundamental management principles as discussed in BUS 300. It differentiates between managers and operatives, outlines the primary functions of management, and enumerates the three levels of management: first-line supervisors, middle managers, and top managers. The review also covers essential roles of managers, planning strategies, decision-making processes, and organizational designs. Additionally, it highlights the importance of social responsibility, ethics, and the impact of technology on management practices. This comprehensive guide is essential for understanding effective management in today's environment.

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Understanding Management: Key Concepts and Practices

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  1. BUS 300 – Exam 1 Review Chapter 1-5 Spring 2009 Larry Strizich

  2. Managers & Management • Describe the difference between managers & operatives • Title • Function • Differentiate between efficiency & effectiveness • Describe the four primary processes of management

  3. Managers & Mgmt • Classify the 3 levels of managers & identify the primary responsibility of each group • First-line supervisors • Middle Managers • Top managers • Essential roles performed by managers • 10 roles in three sets

  4. Managers & Mgmt • Interpersonal • Transfer of information • Decision making • Is a managers job generic • Some generic properties • Four activities

  5. Managers & Mgmt • Four General skills of a successful manager • Value of studying management • Why study popular humanities & social sciences w/r management practices.

  6. The Management Environment • Describe the three waves of modern social history & their implications for organizations. • Agriculture • Industrialization • Information • Explain the Importance of viewing management from a global perspective • Identify ways in which technology is changing a manger’s job. • Describe the difference between and e-business, eCommerce, and an e-organization.

  7. The Mgmt Environment • Define social responsibility & ethics • What is entrepreneurship • What are the components of the entrepreneurial venture. • Describe the management implications of a diversified workforce • Identify the work/life concepts that affect employees.

  8. Explain why many corporations have downsized • Describe the key variables for creating a customer-responsive culture. • Why do companies focus on Quality and continuous improvement.

  9. Planning • Define Planning • Explain the potential benefits of planning • Identify the potential drawbacks of planning • Distinguish between strategic and tactical Plans • When are directional plans preferred over specific plans

  10. Planning • Define Management by objectives • Identify it’s common elements • Goal Specificity • Participative decision making • Explicit time periods • Performance feedback

  11. Planning • Describe the four grand strategies • Growth • Stability • Retrenchment • Combination • Explain SWOT analysis • Strengths, weaknesses, opportunities, Threats • How do entrepreneurs identify a competitive advantage

  12. Foundations of Decision Making • Describe the steps in a decision making process • Identify a problem • Identify decision criteria • Allocate weights to criteria • Develop alternatives • Analyze alternatives • Select and alternative • Implement • Evaluate effectiveness

  13. Decision making • What are the assumptions of the rational decision making model • Explain the limits to rationality • Define – certainty, risk & uncertainty as they relate to decision making • Describe the actions of the bounded-rational decision maker

  14. Indentify 2 types of decision problems an the 2 types of decisions that are used to solve them. • Define Heuristics and explain how they affect decision making processes.

  15. Identify four decision making styles • Directive • Analytic • Conceptual • Behavioral • Describe the advantages and disadvantages of group decisions.

  16. Explain three techniques for improving group decision making • Brainstorming • Nominal group technique • Electronic meetings

  17. Organizational designs • Six elements of organizational structure • Work specialization • Unity of command • Span of control • Authority • Responsibility • Centralization vs decentralization • Advantages & disadvantages of work specialization

  18. Org Designs • Contrast authority and power • Identify the five different ways management can departmentalize • Function • Product • Customer • Geography • Process

  19. Contrast mechanistic and organic organizations • Summarize the effect of strategy, size, technology and environment on organizational structures. • Contrast the divisional and functional structures • Explain the strengths of the matrix structure

  20. Describe the boundryless organization and what elements have contributed to its development • Explain learning organization • Describe organizational culture

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