Mid term review lecture

Learning OutcomesAfter studying this chapter, you will be able to… 1.. Learning OutcomesAfter studying this chapter, you will be able to… 5.. Learning OutcomesAfter reading this chapter,

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Mid-Term ExamNOTE: THIS INFORMATION IS DESIGNED TO SUPPLEMENT YOUR MID-TERM EXAM PREPARATION, AND NOT TO BE YOUR

ONLY SOURCE OF REVIEW INFORMATION

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To help prepare you for the mid-term exam, be sure to review:

1 Mid-term exam chapters (1, 2, 3, 4, 5 and 8) – the exam is based on the textbook material and will start at

1:30pm on Tuesday, February 26th in SE06 209.

2 Textbook chapter summaries.

3 Your lecture and class notes.

4 The weekly chapter quizzes.

5 The material uploaded to the course Learning Hub site.

6 The textbook website material (i.e., flip cards, audio lectures, quizzes, etc.)

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Chapter 1

Management

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Learning Outcomes

After studying this chapter, you will be able to…

1 Describe what management is.

2 Explain the four functions of management.

3 Describe different kinds of managers.

4 Explain the major roles and subroles that managers perform in their jobs.

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5 Explain what companies look for in managers.

6 Discuss the top mistakes that managers make in their jobs.

7 Describe the transition that employees go through when they are promoted to management.

8 Explain how and why companies can create competitive advantage through people.

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The Four Functions of Management (p 5 – 7)

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Four Functions of Management Defined

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What the Four Kinds of Managers Do (p 7 – 11)

Top Managers Change

Commitment Culture Environment

Middle Managers Resources

Objectives Coordination Subunit performance Strategy implementation

First-Line Managers Nonmanagerial worker supervision

Teaching and training Scheduling

Facilitation

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Mintzberg’s Managerial Roles (p 11 - 16)

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Management Skills (p 16 – 17)

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Key Characteristics of Leaders Who Derail

3 Failure to build and lead a team—difficulties in selecting and building a team.

4 Failure to meet business objectives—difficulties in following upon promises and completing jobs

5 Having too narrow a functional orientation—lacking depth to manage outside of one’s current function.

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Stages in the Transition to Management (p 19 – 20)

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Competitive Advantage through People

Management Practices in Top-Performing Companies

1. Employment Security

2. Selective Hiring

3. Self-Managed Teams and Decentralization

4. High Wages Contingent on Organizational Performance

5. Training and Skill Development

6. Reduction of Status Differences

7. Sharing Information

Source: J Pfeffer, The Human Equation: Building Profits by Putting People First (Boston: Harvard Business School Press, 1996.)

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Chapter 8

Designing Adaptive Organizations

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After reading this chapter, you should be able to:

1. Describe the departmentalization approach to organizational structure

2. Explain organizational authority

3. Discuss the different methods for job design

4. Explain the methods that companies are using to redesign internal organizational processes (i.e., intra-organizational

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Sony Corporation’s Organizational Chart

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Departmentalization Defined

responsibility for completing particular tasks.

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Departmentalization

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Nelson Education Ltd.

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Functional Departmentalization (p 156 – 157)

ADVANTAGES DISADVANTAGES

Work done by highly qualified specialists Cross-department coordination can be

difficult

Lowers costs through reduced duplication May lead to slower decision making

Communication and coordination

problems are lessened

Produces managers with narrow experience and expertise

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Product Departmentalization:

United Technologies

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Product Departmentalization (p 157)

Managers specialize

leading to higher overall costs

Easier to assess work-unit performance Difficult to coordinate across different

product departments

Decision making is faster

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Customer Departmentalization (p 158)

Products and services tailored to

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Matrix Departmentalization (p 160 – 161)

Efficiently manage large, complex tasks Requires high levels of coordination

Requires high levels of management skills

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Organizational Authority (p 162 – 164)

Organizational authority:

The right to give commands, take action,

and make decisions to achieve

Degree of Centralization

Chain of Command

Line versus Staff Authority

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• Chain of Command: the vertical line of authority that clarifies who reports to whom

throughout the organization.

• Delegation of Authority: the assignment of direct authority and responsibility to a

subordinate to complete tasks for which the manager is normally responsible.

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• Line Authority: the right to command immediate subordinates in the chain of

command.

• Staff Authority: the right to advise, but not command, others who are not

subordinates in the chain of command.

• Centralization of Authority: the location of most authority at the upper levels of the

organization.

• Decentralization: the location of a significant amount o authority in the lower levels

of the organization.

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Job Rotation, Enlargement, Enrichment

Job Characteristics Model

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Job Specialization (p 165)

Job specialization: A job that is a small part of a larger task or process

• Jobs are simple, easy to learn, low variety, and tasks are highly repetitive

• Can lead to low satisfaction, high absenteeism, and employee turnover

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Job Rotation, Enlargement, and Enrichment (p 165)

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• A job redesign approach that seeks to increase employee motivation

• Emphasizes internal motivation

• Experience work as meaningful

• Experience responsibility for work outcomes

• Knowledge of results

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Job Redesign Techniques

• Redesigning Jobs

• Forming natural work units

• Establishing client relationships

• Vertically loading the job

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Intra-Organizational Processes (p 166 – 169)

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Empowerment (p 168 – 169)

Empowerment:

• Feelings of intrinsic motivation, in which workers perceive their work to have impact and meaning and perceive themselves to be competent and capable of self-determination

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• A feeling of intrinsic motivation.

• Workers perceive meaning in their work

• Employees are capable of self-determination

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Inter-Organizational Processes (p 169 – 172)

ModularOrganizations

VirtualOrganizations

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Virtual Organizations (p 169 – 172)

Let companies share costs fast and flexible Difficult to control the quality of partners

Being the “best” should provide better

products

Requires tremendous management skills

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Chapter 2

Organizational Environments and Culture

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1. Discuss how changing environments affect organizations.

2. Describe the four components of the general environment.

3. Explain the five components of the specific environment.

4. Describe the process that companies use to make sense of their changing environments.

5. Explain how organizational cultures are created and how they can help companies succeed.

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Characteristics of the Changing External Environment (p 24 – 27)

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General and Specific Environments (p 27 - 35)

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General Environment (p 27 - 31)

affect all organizations.

• Political/Legal Trends – Laws, Regulations, Court Decisions

• Economy – Growing vs Shrinking Economies

• Technological Trends – Inputs + Technology = Outputs

• Sociocultural Trends – Demographic, Behaviour, Attitudes, Belief Changes

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Specific or Task Environment (p 31 – 35)

groups that are unique to an industry and directly affect how a company does business.

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Components of the Specific or Task Environment (p 31 - 35)

Reactive/proactive customer monitoring

Competitive analysis

Buyer/supplier dependencies

Govern procedures

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Evaluating External Environments (p 35 – 37)

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Organizational Culture (p 37)

Organizational culture refers to the:

• Values, beliefs, and attitudes shared by members of an organization

• It is a key part of the internal environment and exists in three levels

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How Is Organizational Culture Created and Maintained? (p 37 – 38)

Could be created through:

Education Ltd.

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Chapter 3

Ethics and Social Responsibility

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1 Identify unethical workplace behaviours (workplace deviance).

2 Describe ethics guidelines and legislation in North America.

3 Describe what influences ethical decision making.

4 Explain what practical steps managers can take to improve ethical decision making

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5 Explain to whom organizations are socially responsible.

6 Explain for what organizations are socially responsible.

7 Explain how organizations can choose to respond to societal demands for social responsibility

8 Explain whether social responsibility hurts or helps an organization’s economic performance.

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Ethics and Unethical Workplace Behaviour (p 44)

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Workplace Deviance (p 45 – 46)

• Workplace deviance: unethical behaviour that violates organizational norms about right and wrong.

• Production deviance: unethical behaviour that hurts the quality and quantity of work produced

• Property deviance: unethical behaviour aimed at the organization’s property or products Employee shrinkage is a form of employee

theft of company merchandise.

• Political deviance: using one’s influence to harm others

in the company.

• Personal aggression: hostile or aggressive behaviour toward others.

Education Ltd.

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Types of Workplace Deviance (p 45)

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Things to Consider in Answering Ethical Questions

(p 46 – 52)

• The ethical intensity of the decision

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Practical Steps to Ethical Decision Making (p 52 – 56)

1 Hiring - Carefully selecting and hiring ethical employees.

2 Code of Ethics - Establishing a specific code of ethics.

3 Training - Training employees to make ethical decisions.

4 Climate - Creating an ethical climate.

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What Is Social Responsibility? (p 56)

A business’s obligation to pursue policies, make decisions, and take actions that benefit society.

McKinsey & Co study:

Of 1,144 top global executives,

• 79 percent said some responsibility … would fall on corporations

• 3 percent believe they do a good job of dealing with issues

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To Whom Are Organizations Socially Responsible?

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Organization’s Social Responsibilities

(p 58 – 61)

Abide by principles

of right and wrong

Obey laws andregulations

Ethical?

Legal

Discretionary Serve a social role.

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Triple Bottom Line (p 60)

“Bottom line”: profit-and-loss account

“People account”: a measure of how socially responsible a company has been throughout its operations

“Planet account” : a measure of how environmentally responsible a

company has been

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Responses to Demands for Social Responsibility (p 61 – 62)

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Chapter 4

Planning and Decision Making

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1. Discuss the benefits and pitfalls of planning

3. Discuss how companies can use plans at all management levels, from top to bottom

4. Explain the steps and limits to rational decision making

5. Explain how group decisions and group decision-making techniques can improve decision making

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How to Make a Plan That Works (p 69 - 73)

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Planning from Top to Bottom (p 73 - 77)

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Starting at the Top: Top Management (p 74)

• Overall goal that unifies efforts toward an organization’s vision, stretches and challenges the organization, and possesses

a finish line and time frame; flows from the vision

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Bending in the Middle: Middle Management

(p 74 – 75)

accomplish goals within its mission (6 months to 2 years).

Management by Objectives (MBO)

• Discuss possible goals.

• Collectively select goals.

• Develop tactile plans.

• Review progress.

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Operational Plans

Single-use Standing plans

(policies, procedures, rules/regulations) Budgets

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Rational Decision-Making Process (p 77 – 81)

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Using Groups to Improve Decision Making (p 81 – 85)

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Chapter 5

Organizational Strategy

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1. Specify the components of sustainable competitive advantage and explain why it is important

2. Describe the steps involved in the

strategy-making process

3. Explain the different kinds of corporate-level strategies

4. Describe the different kinds of industry-level strategies

5. Explain the components and kinds of firm-level strategies

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Sustainable Competitive Advantage

• Providing greater value for customers than competitors can

Sustainable Competitive Advantage

• A competitive advantage that other companies have tried unsuccessfully to duplicate

86

Education Ltd.

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Requirements for Sustainable Competitive Advantage

(p 90 – 91)

SustainableCompetitiveAdvantage

Substitutable

RareResources

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id Competitive

Inertia

Loo

k fo

r

Strategic

Dissonance

Strategy-Making Process (p 91 – 94)

88

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Situational Analysis (p 92)

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Choosing Strategic Alternatives: Strategic Reference Points

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Corporate-Level Strategies

Grand Portfolio

Corporate-Level Strategies (p 94 – 99)

What business(es) are we in or should we be in?

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BCG Matrix (p 96 - 97)

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Problems with Portfolio Strategy (p 98)

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Five Industry Forces

Positioning Strategies

Adaptive Strategies

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Direct Competition

Resource Similarity

Responses Attacks

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Mid-Term Exam – The End

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