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Faustor, LPT
Chapter 1. Nature and concept of Management
a. Definition and functions of management
b. Evolution of management theories
c. Functions, roles, and skills of a manager
It is a process of
PLANNING, ORGANIZING,
LEADING, AND CONTROLLING
resources to achieve
specific objectives.
• Planning
Management is a • Organizing
process • Leading
• Controlling
• People
Management • Money
uses resources • Materials/machines
SMART
Specific – in a form of sufficient detail
Measurable – can be assessed thru indicators
Attainable – achievable by finding own ways
Realistic – achievable given the current
situation
Time-bounded – can be achieve w/in
a definite time period
Investment
Perspectives
- Focuses on the
traditional, materialist,
and individualistic view of
management such that the
emphasis is maximizing
profitability, productivity,
and competitiveness.
Multistream Perspectives
C
COMPETITORS
Threat of
the new
C
C
Industry Competitors
entrants
Bargaining
C
C
Industry Competitors
power of
consumers
Threat of
Industry Competitors
C
substitute
C
(Rivalry among Existing Firms)
products
or services
Bargaining
C
C
Industry Competitors
power of
the
producers
Rivalry
Industry
C among
C
Competitors
Existing
Firms
GLOBAL MANAGEMENT
Refers to the management of businesses and organizations with
operations in more than one country.
GLOBAL BUSINESS
Pertains to a business environment that poses challenges in
adaptations to the cultures and business conduct in foreign
countries.
GLOBALIZATION
Pertains to the growing interdependence among people around the
world.
WAYS TO COMPETE IN LOCAL AND INTERNATIONAL BUSINESS
COMPETING BY LOWER COST
Involves effort of a company to lower its production cost to
enable it to offer a lower price relative to a competitor.
COMPETING BY QUALITY
Means offering unique or more desirable features of a
product or service.
COMPETING BY SPEED OR FLEXIBILITY
COMPETING BY INNOVATION
PEOPLE
(Social Benefits)
PLANET
(Environment Impacts)
Theories on how economies evolved
INVISIBLE HAND THEORY SCHUMPETER’S THEORY
Private
Government Nongovernmental
Organization
Organizations Organizations
(business
(National and (civil society
enterprises,
Local Agencies) groups,
business
foundations)
associations)
Defined as a social setting composed of
several groups of people who bond and
work together to achieve a common
purpose.
mandated by
the law to perform specific duties
and responsibilities and provide
services for people nationwide.
are also
mandated by the law to perform specific
duties and provide services but only for
people within their respective areas of
jurisdiction and responsibilities
Business
Enterprises
- Earn profits
Business Association
– promotes the
interest of the
industry players
Corporation
- Is a business organization where
ownership is through shares of stock.
- Has a legal identity that is separate from
the legal identity of the owners.
- Has board of directors that serves as
the policy-making body of a corporation
Sole Proprietorship
- Is a business owned by ONE PERSON
- Has full liability of the business in case
of financial loss.
- The owner is required to pay the
claimants or creditors form his or her
own assets.
Partnership
- Is owned by two or more persons.
- The business partners has full liability of
the business in case of financial loss.
Limited Partnership
- Also owned by two or more persons
but with limited liabilities during
financial loss.
- The financial liability of each party is
limited to the shares that the party
contributed to from the business entity.
Cooperative
- The ownership is equally shared among
members.
- The business and operations are
governed by the ARTICLES OF
COOPERATION.
Aim to serve a particular group or targeted
beneficiaries.
Advocate a specific cause or raise an issue to
promote public awareness and support
-> corporate foundations
-> small enterprises
-> research institutions
Aim to manage a government-owned
enterprise that delivers a particular
service to the general public
-> National Food Authority
-> Local Water Utilities Administration
The Nature of Organizations as OPEN SYSTEMS
Plans
POLICY
A general or broad
guide for the actions or
behaviour of people in
the workplace
Rule
A more specific guide
to actions or behaviors
in the workplace
Standard Operating
Procedure
A series of action to be
followed for a specific
situation in the workplace.
S
T
A Also called “SINGLE-USE”
N plans
D
- Developed for nonprogrammed
A decision making
L
O Used for planning a unique or
N specific project or program.
E
Plans
Strategic Plans
Strategic Plans
Must be well thought out since
this is the compelling future
scenario desired for the company.
It should be
Bold
Hairy
Audacious
Goal-Oriented
Mission
Core
Values
Developed by the middle and
supervisory levels
MIDDLE
•DEVELOP THE FUNCTIONAL PLANS
MANAGEMENT
ALTERNATIVE SCENARIO
OFFICIAL VISION
FUTURE
NORMATIVE APPROACH
INDUCTIVE APPROACH to scenario
DEDUCTIVE APPROACH to
planning starts with a potential
scenario planning starts with a
possibility based on a familiar
general and well-tested concept of
context but nit yet a well-tested
principle, then fleshes out this
path, and then develops this route
principle into several possible
to grow out into several alternative
detailed applications or features.
pictures of potential possibilities.
Chief Executive
Officer
Human
Manufacturing Finance Accounting Marketing
Resources
FUNCTIONAL STRUCTURE
Owner-
President
Region 1 Region 2
7-121
Figure 7.5 - Global Geographic
and Global Product Structures
7-122
MATRIX STRUCTURE
•An organizational structure that simultaneously
groups people and resources by function and product
•Combination of the functional and divisional
FUNCTIONAL UNITS
structure
A B C D
1
PROJECTS
4
MATRIX STRUCTURE
AUTHORITY
Refers to the duty of a person to give an
account for any deviation or discrepancy
between what was expected of the task
and what resulted.
RELEASE
Pertains to the manager’s
capability and mindset to learn
how to “LET GO” of some of
their tasks by delegating them to
their qualified staff.
TEAM
A group of people organized
to bring together their
complementary skills in
order to achieve a common
purpose.
1. Forming ( getting-to-know you;
aware and cautious)
of 3. Norming ( cooperative;
establishing norms)
Chapter 6. Leading
1. Definition
2. Motivation
3. Leadership theories
4. Communication
5. Management of change and diversity
6. Filipino and foreign Cultures
Chapter 7. Controlling
1. Definition and nature of management control
2. The link between planning and controlling
3. Control methods and systems