Terms in this set (130)
Implementing Processes and Practices
The Practice of Management
they should identify and deliver superior performance in
requires:
innovative and socially responsible organizations
-Identifying and communicating the "Right Work" to be done,
-Designing, implementing, and monitoring the flows of work of the
organization and the work environment so the "Right Work" is
Enterprise Level Management
requires performed effectively and efficiently ("Done Well"),
implementing Processes and
Practices that identify and -Continuously pursuing innovation to create new opportunities
deliver superior performance in and to improve existing products/services/capabilities
innovative and socially
-Adopting values and practices that enable the firm to
responsible
organizations by: responsibly fulfill its obligations to all constituents (customers,
communities, employees, business partners, and shareholders)-
Management Theory has endured a The "Scientists" (engineer, economists, process
healthy tension between: managers) The "Humanists" (sociologists,
psychologists)
Age of Scientific Management (1880 - 1940)
Three stages of Management Human Relations or Behavioral Movement (1940
Theory evolution - 1980) Strategic Management (1980 -
Present)
, Frederick Taylor - Principles of Scientific Management, 1911
"the best management is a true science, resting upon clearly
defined laws, rules, and principles" -- Taylor
Age of Scientific Management
The laborer should work according to a process analyzed and designed by
management for optimum efficiency, "the one best way", allowing
him to do as much as possible within a specific time period. --
Taylor
Hawthorne Studies (1924 - 1932) - Elton Mayo
-Controlled studies to evaluate various factors (physical
conditions, work schedules, incentive systems) on worker
productivity
Human Relations (Behavioral
-These factors could not explain the change in productivity which
Science) Movement
consistently increased
-Turned out two unexpected factors appeared to explain the results:
-Group dynamics - the workers working as a team encouraging each other
-The workers had been engaged by management in soliciting their
feedback and input
-Thus the behavioral theories gained a foundation from this work
a corporation, as a social institution, in which the capacity and
Peter Drucker believed...
potential of everyone involved were to be respected
Theory X (people are inherently lazy),
Douglas McGregor,
Theory X and Theory Y Theory Y (people want to find meaning in their work and will
contribute in positive ways if the work is well designed)
-Manager and his behavior as purely passive participants subject
to the inevitable forces of economic systems
Economist View that
management was initially -Success in business meant rapid and intelligent adaptation to
driven by events occurring outside, in an economy shaped by impersonal,
objective forces that were neither controlled by the manager nor
influenced by his/her reaction to them.
Bruce Henderson (1963) - Proposed analytical approach for developing business strategy
Drucker Results Driven Management, Businesses exist to produce results
raises concern about the fact that the top 200 US firms controlled
John Kenneth Galbraith (1967) - 67% of assets, and 60% of sales, employment, and income -
CONSOLIDATION OF INDUSTRIAL POWER
, Forces of Change:
-Deregulation (airlines, railroads, trucking, telecomm., finance)
-Globalization (New entrants - Japan, Russia, China, India)
Declining Confidence in Business
-Technology (computers, software changed productivity)
Leaders
-Mergers & Acquisitions (25% of the firms on the Fortune 500 in
1980 were acquired by 1989)
Job satisfaction declined despite... work related conditions had improved
Least satisfied group of people youngest workers (under age 25)
A company's strategy is its action plan for outperforming its competitors and achieving superior
profitability