MGT400: INTRODUCTION TO MANAGEMENT
CHAPTER 1: MANAGERS AND MANAGING
What is Management?
Organizations
• Organizations are collections of people who work together and
coordinate their actions to achieve a wide variety of goals or desired
future outcomes.
• All managers work in organizations.
Management
• The planning, organizing, leading, and controlling of human and other
resources to achieve organizational goals efficiently and effectively.
Resources:
• Include assets such as:
1. People and their skills, know-how, and experience.
2. Machinery.
3. Raw materials.
4. Computers and information technology.
5. Patents, financial capital, and loyal customers and employees.
, Achieving High Performance: A Manager’s Goal: -
- One of the most important goals that organizations and their
members try to achieve is to provide some kind of good or service
that customers value or desire.
- It takes a balance of the quality needs of customers against the
pressure to be cost-effective
Organizational performance:
- A measure of how efficiently and effectively managers use available
resources to satisfy customers and achieve organizational goals.
- At Momentive (formerly Survey Monkey), Zander Lurie encouraged
efficiency by:
• Eliminating an unsuccessful business while expanding others.
• And continuing to foster a collaborate environment in which he
encourages employees to stay curious.
Efficiency:
- A measure of how well or how productively resources are used to
achieve a goal.
• Wendy’s fat fryers use less oil and are quicker.
Effectiveness:
- A measure of the appropriateness of the goals an organization is
pursuing and the degree to which the organization achieves those
goals.
• McDonald’s resumed their all-day breakfast after suspending it
during the pandemic.
CHAPTER 1: MANAGERS AND MANAGING
What is Management?
Organizations
• Organizations are collections of people who work together and
coordinate their actions to achieve a wide variety of goals or desired
future outcomes.
• All managers work in organizations.
Management
• The planning, organizing, leading, and controlling of human and other
resources to achieve organizational goals efficiently and effectively.
Resources:
• Include assets such as:
1. People and their skills, know-how, and experience.
2. Machinery.
3. Raw materials.
4. Computers and information technology.
5. Patents, financial capital, and loyal customers and employees.
, Achieving High Performance: A Manager’s Goal: -
- One of the most important goals that organizations and their
members try to achieve is to provide some kind of good or service
that customers value or desire.
- It takes a balance of the quality needs of customers against the
pressure to be cost-effective
Organizational performance:
- A measure of how efficiently and effectively managers use available
resources to satisfy customers and achieve organizational goals.
- At Momentive (formerly Survey Monkey), Zander Lurie encouraged
efficiency by:
• Eliminating an unsuccessful business while expanding others.
• And continuing to foster a collaborate environment in which he
encourages employees to stay curious.
Efficiency:
- A measure of how well or how productively resources are used to
achieve a goal.
• Wendy’s fat fryers use less oil and are quicker.
Effectiveness:
- A measure of the appropriateness of the goals an organization is
pursuing and the degree to which the organization achieves those
goals.
• McDonald’s resumed their all-day breakfast after suspending it
during the pandemic.
