1. What are the four functions of management? · Leading – Motivating others to work toward the goal. · Controlling – Monitoring and regulating progress toward the goal. · Organizing – Coordinating work activities.
· Planning – Formulating goals. What do managers manage? · People · Money (assets) · Time · Resources · Self · Stress 2. Moon Problem: · Rank the items individually in rank order based upon your opinion. · As a group pick a leader.
· As a group analyze and pick the five most important items. Purpose: · Things to do list. · Set priorities. · Individual thought process (good ideas individually). · Had to compromise with group.
· Addresses the Management Decision Process. 3. Business Plan: · Goal, objective, and mission. · Budget – rent, salaries, marketing, equipment, phone, and advertising. · Sources – referrals (word of mouth), direct mail, telephone, cold canvas, seminars, nest (family and friends), television, and paper. 4.
The Human Resource Manager and Managing Multiple Responsibilities: a) Human resource management consists of numerous activities. What areas were illustrated by Sam’s schedule on this particular day? · Establish MBO (management by objectives). · A number of carryover and nagging employee grievance problems. · Al Noren (stockroom foreman) is not in for work. · Responsible for payroll.
· Mail · Phone · Rate changes · Interview · Pension benefits · Staff meeting · Lunch with friend. · Replacement of stock clerk. · Superintendent called to discuss his need for several production people. · Boy Scout troop · Organize confidential employee files. b) List the areas of ineffective management and time robbers that are affecting Sam.
· Doesn’t write down a things to do list. · Doesn’t prioritize that list. · Tries to do everything himself such as answering the phone and reading the mail. c) Discuss Sam’s career progress. Is he now promotable? Sam shows that he is ineffective and not promotable.
5. Pygmalion Handout: · Pygmalion means self-fulfilling prophecy. · Rockaway Office (three groups) a) Superstars – performed as expected b) The manager was enthusiastic, positive, and encouraging. He believed his people would perform.
Result: self-fulfilling prophecy. c) The manager told them that they were inadequate. Result: they didn’t do well. 6. International: · Language · Culture (custom, ethic) · Government (taxes, tariffs) · Demand · Location · Public interest · Currency · Climate 7. Management Decision Process: · Analyze current situation (where are we now) · Goal or mission (where do we want to go) · Courses of action (what are the choices) · Make your decision · Execute that decision Some people will add a 6th decision process, which is to evaluate.
8. Ethics in Business: a) Personal Moral Code: · Education · Experience · Religion · Parents · Teachers b) When code is violated: · Go with the flow (don’t care) · Go tell someone · Leave environment Word Count: 479
