BUS208: Principles of Management

 Management refers to the organization and coordination of work to produce a desired result. A
manager is a person who practices management by working with and through people in order to
accomplish his or her organization's goals. When you think of the term manager, you may be
imagining your supervisor as he or she hires and terminates employees and makes major
decisions above your authority. However, although you may not view yourself in this way, you
yourself may also be a manager. In fact, many of us practice management skills in the workplace
every day. You may have a team of employees that you manage, or lead a project that requires
management strategy, or demonstrate leadership qualities among your peers. These are all
scenarios that require you to apply the principles of management.

In this course, you will learn to recognize the characteristics of proper management by identifying what
successful managers do and how they do it. Understanding how managers work is just as beneficial for
the subordinate employee as it is for the manager. This course is designed to teach you the
fundamentals of management as they are practiced today.

Management began to materialize as a practice during the Industrial Revolution, as large corporations
began to emerge in the late 19th century and developed and expanded into the early 20th century.
Many large corporations during the early 1900s did not have any competition and thus dominated their
industries. At the time, each employee was seen as a cog in a wheel - a useful yet expendable part of a
business's operation. But the development of the assembly line in the 1910s and 1920s and the
attendant automation of production processes drove changes in management strategy and required
businesses to rethink how they managed their resources (i.e. their people, finances, capital, and tangible
assets).

The fundamental concepts of modern management were famously explored by Frederick Winslow
Taylor, an American engineer who wrote The Principles of Scientific Management. Published in 1911 and
based on research conducted by Taylor, the book's analysis aimed to couple the efficiency needs of a
business with the specialized talents of its employees. Taylor's conclusion was that employees are
almost always driven by the desire to earn money. Because businesses at the time had very little
production capacity, the principles of management aimed toward driving sales by enticing employees
with more money for increased production. As such, modern management's focus was on producing as
much product as possible to meet consumer demand for goods and services.

By the late 20th century, automation, higher educational levels, and the push for speed had changed
management practices, and businesses had by and large moved away from a top-down, centralized
direction style and toward leaner organization with less regimentation. Nevertheless, Taylor's theories
and their lessons remain important as a foundation for understanding how to manage large projects
that require a variety of skills and a large number of workers.
This course will illustrate the ways in which the practice of management evolves as firms grow in size.
Historically, middle managers have served as so-called "gatekeepers" who collect, analyze, and pass
information up and down the management chain within an organization. But two recent developments
at the turn of the 21st century - namely, low-cost data manipulation in computers and the emergence of
widespread, real-time communication (in the forms of inexpensive, long-distance global calling, email,
text messaging, and social media) - have reduced the need for these middle-manager gatekeepers, and
companies have eliminated thousands of such positions. The goal? To speed the flow of information and
decision-making and reduce the number of layers that separate the customer from the leadership of an
organization.

This course is based upon the idea that the essential purpose of a business is to produce products and
services in order to meet the needs and wants of the marketplace. A manager marshals an
organization's resources (its people, finances, facilities, and equipment) toward this fundamental goal.
In this course, you will explore the tasks that today's managers perform and delve into the key
knowledge areas that managers need to master in order to run successful and profitable businesses.

After familiarizing yourself with the following course syllabus, enroll in this course using the "Enroll
me in this course” button. Once enrolled, navigate to Unit 1 of the course to read the Unit
Introduction and Unit 1 Learning Outcomes. Links and instructions for all unit specific course resources
will follow the introductory materials.

o Course SyllabusPage

o Course TextbooksPage

o Course Terms of UsePage

 Unit 1: What Is Management?

In this introductory unit, you will begin your exploration of the practice of management. In human
society there has always been a need for some degree of management in order to organize the efforts
of individuals for the common (and individual) good. Even in very primitive times, gathering food,
protecting against predators, and caring for the young required humans to coordinate and organize in
order to achieve common goals.
Put simply, the term management refers to the coordination of work activities through and with other
people to accomplish the goals of an organization. In this unit, you will explore the various functions of
management. Management involves not only coordination, but also planning, organizing, leading, and
controlling. Over the years, the common definition of management has become less specific, as
managerial functions have come to include staffing, directing, and reporting. In modern companies,
there are fewer layers of management, as today's organizations rely instead on the delegation of
responsibilities and authority in order to achieve goals. As a result, today's managers now speak in terms
of "leading" or "guiding" people, rather than giving instructions for every action.

Management is both an art and a science, and ultimately you will need more than one course on
management to fully develop your own management ability. Still, even if you have no aspirations to
manage a team, you may need to lead projects, manage committees, and/or interact with managers.
Understanding what makes a good manager is one of the biggest factors in the success of an
organization and its employees.

Completing this unit should take you approximately 13 hours.

 Unit 2: Historical Development and Globalization

The more complex an organization and its operations, the more active a role management plays.
Successful management imposes a degree of order and discipline so that work can be accomplished
expeditiously, no matter what the size of the organization, how many countries it operates in, or how
much of its work is performed virtually.

In this unit, you will explore various theories of management throughout history, paying close attention
to Frederick Winslow Taylor's scientific management theory, which was widely practiced in the industrial
age of the 20th century. You will also take stock of more contemporary, 21st-century approaches to
management, which tend to be better suited to organizations in knowledge-based industries (as
opposed to those in manufacturing). Finally, you will begin to examine management from a global
perspective.

Completing this unit should take you approximately 14 hours.

 Unit 3: Organizational Culture, Diversity, and Ethics

In this unit, you will look at organizational culture and how it provides a company with its own
workplace climate and personality. Organizational culture includes attitudes, values, and work styles
which, when managed properly, can lead to a highly productive workforce.
A diverse workforce brings together people from different backgrounds. Each individual brings his or her
own experiences and expertise to the table. The blending of these backgrounds can enhance
productivity by allowing for the free flow of new ideas and creativity. This unit will explore the
importance of a diverse workforce, and how managers can make the most of their employees' individual
knowledge and approaches in order to reach corporate goals.

Management sets the tone not only for a corporate climate; it also sets the standard for personal
behavior. In this unit you will also learn about the importance of ethics - that is, "doing what is right" or
"doing the right thing." In light of recent major business scandals borne out of unethical behavior,
almost all business schools have devoted aspects of their curricula to the study of ethics. In order to
understand how to apply ethics to different circumstances, you must understand how ethics can vary
based on differences in society, culture, and politics. There are a number of different philosophies
purporting to explain how to apply ethics to decision-making, but none of them are absolute. However,
understanding these various philosophies can help you reach workplace decisions that are more
ethically grounded.

This unit will conclude with an exploration of business ethics in the modern-day workplace environment.
An organization and its managers have duties - including legal and ethical responsibilities - that they
must uphold as part of their service to their stakeholders, including investors, vendors, employees, and
the communities in which the organization operates.

Completing this unit should take you approximately 20 hours.

 Unit 4: Leadership and Teams

Throughout this course, we define managers as people who work with and through other people to
accomplish the goals of an organization. One important managerial function we have not yet touched
upon is motivation, or the ability to persuade and inspire others to commit to an organization and its
goals. A good leader must be a good manager if he or she wishes to get a lot accomplished. In order to
get work done, managers must often foster collaboration between employees so that individuals with
different skills from different parts of a company can successfully contribute to projects. The concept of
collaboration has evolved into the practice of creating teams comprising specific individuals with
complementary skills who gather around a common purpose. This purpose might include accomplishing
a specific task, addressing a particular problem, revising an internal company process, etc.
The term team is used so frequently today that the meaning of this concept is often diluted. Still,
contemporary companies and organizations rely on the efforts of different kinds of teams, and many
times an organization will pull together teams with members scattered over multiple geographic
locations - including, even, multiple countries - in an effort to bring together the skills and competencies
needed to address a significant task.

One of the key roles of any manager is to establish the goals and purposes of a team and to select
appropriate team members. From there, the team will - more or less independently - work to
accomplish its purpose under the supervision of a leader, who must organize and manage the team
effectively.

What does a successful team look like? Would you be surprised to know that the best teams actually
experience conflicts? In fact, conflict can be a productive force capable of generating new ideas and
multiple options for consideration. The key is to avoid letting professional conflict spill over into
personal relationships, a task that is difficult to achieve without careful study and practice. In this unit,
you will look at the different stages of group development in order to learn how to create a successful
team and avoid the common pitfalls of working with a team.

Completing this unit should take you approximately 7 hours.

 Unit 5: Managing Employees: Motivation, Empowerment, and Conflict Resolution

One of your most important functions as a manager is motivating your employees to do their best while
attempting to meet corporate goals. When employees are motivated, they will seek out ways to
improve their work production and maximize their performance. By giving employees the freedom to
act on their own knowledge and skills, you will encourage them to ultimately be more productive for the
company by fully utilizing their skill sets and, in the process, growing as professionals.

Every work environment encompasses a wide variety of personalities and professional styles. As a result,
conflicts are sure to arise. Effective managers know how to address a conflict when it arises and how to
frequently work in concert with others to ensure a speedy resolution.

Completing this unit should take you approximately 5 hours.

 Unit 6: Human Resource Management

"Business - real business - isn't about money. It's about people. You have to know and understand
people."
- André Meyer
The late André Meyer was a financier who collaborated with corporations in countries around the world.
He served as an advisor to leaders of state and worked as the head of the investment-banking firm
Lazard Frères. Despite the fact that his career was entirely focused on raising capital and profits, Meyer
saw people - including the employees of a company - as the most important aspect of business success.
Meyer's belief still resonates in today's business world. Indeed, knowing how to implement effective and
strategic human resource management is a crucial skill for any manager.

Human resource management (HRM) exists in many forms. We often think about Human Resources as
the company department that handles paychecks and benefits, or the office an employee visits when he
or she encounters a problem such as harassment or discrimination. However, HRM oversees many more
responsibilities than these traditional tasks. Perhaps the most important change in the practice of HRM
has occurred within the recruiting of top-quality employees for a firm. Historically, HR staff, rather than
company managers, have recruited and sifted through applications to find candidates to interview for
positions at a company. But HR department staff often lack the knowledge necessary to effectively
screen for many newer, more technical positions - a situation in which a manager's expertise and input
greatly benefit the hiring process.

In the 21st century, as companies work harder to attract and recruit talent, modern HRM is developing a
more strategic nature. For example, a top HR executive today will most likely report directly to the CEO
and play an integral role in executing a company's strategy. To stay competitive, today's managers must
also work in conjunction with HR to be able to quickly and reliably identify the skill sets and personal
characteristics that are needed to increase productivity in a company's present and future workforce.

Completing this unit should take you approximately 18 hours.

 Unit 7: Planning and Strategy Formulation

Managers plan and coordinate the work of others so that an organization can achieve its goals. In their
planning function, managers identify needed resources (e.g. people, finances, equipment, etc.) and
organize them so that employees can accomplish activities and meet set objectives.

In addition to setting company-wide strategy and long-term goals, managers also create interim, short-
term goals as a means of focusing the activities of an organization and providing direction to employees.

Completing this unit should take you approximately 5 hours.

 Unit 8: Decision-Making
The essential function of a manager is to make decisions. Decision-making is about making choices
between alternatives to reach a goal or objective. In our personal lives, decision-making can involve
determining many things, such as where we live, what foods we eat, and who our friends are. In
business, decision-making can revolve around the products and services that a company offers, the
markets it serves, the people it hires, and so on.

In this unit, we will look at the decision-making process, paying close attention to the basic decision
types, tools, methods, and insights to help you quickly learn how it involves both logic and emotion.
When you complete the course, you will have practical tools to quickly determine the type of decision
you are trying to make, the available tools and methods you may use, and the way to effectively engage
your teams in the process.

Completing this unit should take you approximately 4 hours.

 Unit 9: Organization Structure, Change, and the Future of Management

For a company to be effective and profitable, a strong organizational structure must be in place. This
structure provides a framework from which all goals are set and helps individuals and departments
know where they fit within the company's organization.

One of management's most important responsibilities is to ensure a strong organizational structure. In

this unit, you will explore in more detail the various aspects of organizational structure, including what
happens when a structure changes. Such change can occur due to new developments in the
marketplace, competitive factors, and/or the development of new theories of management.

Completing this unit should take you approximately 3 hours.

 Study Guides and Review Exercises

These study guides are intended to help reinforce key concepts in each unit in preparation for the final
exam. Each unit study guide aligns with course outcomes and provides a summary of the core
competencies and a list of vocabulary terms. The study guides are not meant to replace the readings
and videos that make up the course.

The vocabulary lists include some terms that might help you answer some of the review items, and
some terms you should be familiar with to be successful in completing the final exam for the course.

 Optional Course Evaluation Survey

 Final Exam