WA#1

What is a manager?
Manager is a position as well as a role that comes with responsibilities to manage a sector of that
organization that he/she is a part of.
What Do Managers Do?
Serve customers and work to run everything in an organization smoothly ex: Party Planner
Why Do organizations need managers?
To organize the flow of the organization within subsections such as finance banking hr etc.. At the end of
the day the managers work to ensure the flow of business is as smooth and efficient as possible
Management- The process of managing a company
Principles of Management- Principles used to manage a company
Organizational Readiness- The organization of management between people process system etc..
Empowerment- The process of enabling or authorizing an individual to think, behave, take action, and
control work and decision-making in autonomous ways. is the process of enabling or authorizing an
individual to think, behave, take action, and control work and decision-making in autonomous ways.
Top Management- is responsible for developing the organization’s strategy
Functional Managers- are those responsible for the efficiency and effectiveness of a specific area of the
business such as accounting.
Supervisory/Team Managers-are those responsible for coordinating a subgroup of a particular division or
a team
Line Managers- lead a team that contributes directly to the products or services the organization creates
Staff Managers- lead a function that creates indirect inputs
Project Managers- are responsible for the planning, execution, and closing of a specific project
General Managers- are responsible for managing a clearly identifiable revenue-producing unit, such as a
store, business unit, or product line
What is the difference between traditional and contemporary management?
Traditional management is when the top management allow for the organization’s competitiveness while
lower-level workers follow out the top managers strategy while contemporary is the opposite. As
someone who has held and understands leadership positions I believe that the contemporary
management is where there is n top dog no singular boss, and everyone works together to ensure ideal
corporation whereas traditional is the opposite.
Figurehead- represents the organization in all matters of formality.
Leader- defines the relationships between the manager and employees. The e head of management and
guides the management.
Liaison- interacts with peers and people outside the organization (like a diplomat of the company)
Monitor- receives and collects information
Disseminator- transmits special information into the organization.
Spokesperson- disseminates the organization’s information into its environment
Entrepreneur- person who initiates change
Disturbance Handler- deals with threats to the organization
Resource Allocator- chooses where the organization will extend its efforts.
Negotiator- negotiates on behalf of the organization
Psychology- the study of how individuals act and behave as individuals and in groups in different
situations. Management learns from how people interact with each other
Leadership- the social and informal sources of influence individuals use to inspire the actions of others.
Leadership is a subbranch of management and good management=good leaders.
Entrepreneurship- the recognition of opportunities (needs, wants, problems, and challenges) and the
use or creation of resources to implement innovative ideas for new, thoughtfully planned ventures. Good
management requires the ability to see new opportunities and there are many similarities between the
two.
Strategy- refers to the concept of how an organization will achieve its objectives. Management needs a
clear strategy as how to maximize efficiency and deal with any roadblocks along the way.
Planning- is the function of management that involves setting objectives and determining a course of
action for achieving those objectives
Environmental Scanning- The consideration of the critical contingencies and trends facing their
organizations in terms of economic conditions, their competitors, and their customers. Planners must
then attempt to forecast future conditions.
Strategic Planning is analyzing competitive opportunities and threats, as well as the strengths and
weaknesses of the organization, and then determining how to position the organization to compete
effectively
Tactical Planning- refers to intermediate-range planning that is designed to develop relatively concrete
and specific means to implement the strategic plan
Operational Planning- assumes the existence of organization-wide or subunit goals and objectives and
specifies ways to achieve them.
Organizing- The function of management that involves developing an organizational structure and
allocating human resources to ensure the accomplishment of objectives.
Job Design- involves how best to design individual jobs to use human resources most effectively.
Leading- the social and informal sources of influence that individuals use to inspire action taken by
others.
Controlling- Involves ensuring that performance does not deviate from standards.
Who are the firms’ stakeholders?
Investors, Owners, Employees
What is the argument for considering other stakeholders besides stockholders?
Stakeholders such as owners own the business therefore they have a high investment towards it same
as employees who work for the business or organization. There are other shareholders such as
bondholders and ETF’s
What is the argument against it?
Stockholders are usually the main source of investments into a company that come with a high-risk high
reward system. Besides that, there is also treasury stock which can be sold again generating massive
amounts of income
What has the bottom line traditionally?
It is a triple bottom line of economic social and environmental performance.
Economic- economic performance of a firm is a function of its success in producing benefits for its
owners.
Social- Corporate social responsibility (CSR) is a concept whereby organizations consider the interests of
society by taking responsibility for the impact of their activities on customers, suppliers, employees,
shareholders, communities, and the environment in all aspects of their operations
Why does the triple bottom line matter?
Triple bottom line shows not just good business but successful and ethical practice that will make
customers want to come back for more.
In role performance- tasks individuals perform in their job
OCB(Organizational Citizenship Behavior)- things that add value but are not part of a formal job
description
Before this chapter I used to think that management was just an act of managing something and making
sure everything is as it should be however now I know that it is so much more than that considering that
there are so many different types of management and so many different aspects.
To get an A I need to do the writing assignments ethics paper quizzes and final exam if I do well and turn
in assignment on time I will get an a