Principals of Management - MBA Week 1

8/13/2019 Principals of Management - MBA Week 1

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MBA503: Week 1

Dr Sardana Islam Khan

Assistant Professor of HRM

Deputy Executive Director of Centre for Research and Training

Assistant Editor of Journal of Business and Social Science


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Why study the

management ofmodern

organisations?


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Why study management?

The organisation is the central unit of most business studies: an understanding of the facets and dynamics of organisations is

fundamental to your business education

An introductory business management course is a feature of mostbusiness degrees [from Harvard, to Oxford, to Latrobe!]

Other reasons: The economic argument:

it is important to understand the factors which can impact on the financialperformance of businesses and the market

The management of enterprises has huge implications for macro and microeconomic performance [and the disciplines which attempt to measure

performance] Studies show that fundamental shifts in economic performance have beenthe result in changes to management paradigms

The social argument: Social policy implications: work can impact on your well-being (health,

happiness, life satisfaction, relationships)

Provides a basis for understanding your own experiences at work


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Defining organisations

The simple definition of an organisations is a:

deliberate arrangement (structure)

of people (labour)

for a specific purpose (to achieve goals)

Broad purpose of organisations:

to be efficient (generate maximum output)

to be effective (achieve goals)


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Organisational Performance

Organisational effectiveness means producing outputsthat achieve the organisations purpose or goals:

A business

A hospital

A university

Government departments

A church

A footy club Organisational efficiency:

maximise outputs, minimise inputs


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The key questions

How can organisations be managed in a waythat maximises performance (effectiveness and

efficiency)?

How can the productivity of organisations beenhanced?

What kinds of issues do we need to address?

What can we learn from research conducted in thefield (academic context)?

What can we learn from other successful

companies (practitioner based)?


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The new workplace

Increasing focus on the importance of intellectualcapital

Globalisation pressures:

Increased competition Phenomenon of global outsourcing

Developments in technology, changing the way

organisations do business

Increasing diversity of the workforce

Age, gender, ethnicity or race

Social responsibility and corporate governance

Changing nature of a career


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Check this out

http://www.biography.com/people/


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Warren Buffett - Unpretentious

Billionaire


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Mark Zuckerberg-The face of

face book


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Jack Welsh

Former CEOGE

Often touted as the

model CEO


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http://en.wikipedia.org/wiki/File:Muhammad_Yunus_-_World_Economic_Forum_Annual_Meeting_2012.jpg


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Functions of Management: PLOC


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Planning

The planning function

includes the following

activities:

Defining goals Establishing strategy

Developing plans to

co-ordinate activities

Decision-making


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Leading

The leading functionincludes: Motivating subordinates

Directing others

Selecting the mosteffective communicationchannels

Resolving conflict


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Organising

The organising functionincludes determining:

What is to be done

Who is to do them

How tasks are grouped

Who reports to whom

Who makes the decisions?

Managing change


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Controlling

The controlling functionincludes:

Monitoring activities to

ensure that they are

accomplished asplanned

Correcting significant

deviations from stated

goals/objectives


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How do managers spent their time?

Henry Mintzberg identified three categories ofmanagerial roles:

Interpersonal roles:

figurehead, leadership, liaison

Informational roles:

monitoring, dissemination of information, spokesperson

Decisional roles: disturbance handler, resource allocator, negotiator


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The nature of managerial work

Mintzberg studied the nature of managerial

work (see further reading for Week 1):

A lot of work, at an unrelenting pace

Variety, fragmentation, brevity

Prefer issues that are current, specific and ad hoc

Manager sits between the organisation and

networks Preference between verbal media

Manager is in control of his own affairs


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Skill requirements


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Universality of Functions & Roles

Do all managers perform the same type of functionsand roles? Consider:

Organisational level

the level of management -- first-level, middle or top level manager?

Organisational type

business firm, government agency, special interest group, cultural

institution

Organisational size

small business, MNCs

The country the organisation operates in:

AustraliaRussiaKenyaIsrael


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MBA501 Resources

The textbook is:

Samson, D. and R.L. Daft (2009) Fundamentals of

Management. 3rdedition, Melbourne: Thomson.


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Week 2: The historical

origins of management

An important topicdont miss it!

Assistant Professor of HRMDeputy Executive Director of Centre for Research and Training

Assistant Editor of Journal of Business and Social Science

Documents

Principals of Management - MBA Week 1