MOM SUMMARY
Chapter 1 - Managers and you in the workplace
Managers: someone who coordinates and oversees the work of other people
so organisational goals can be accomplished - What do managers do?
➔ Management - coordinating and overseeing the work of others
➔ Efficiency - getting the most output from the least amount of inputs
➔ Effectiveness - doing the right things
➔ Plan, organise, lead, control
Managerial roles: specific actions or behaviours expected of an
exhibited by a manager
Interpersonal roles: people and other ceremonial and symbolic
duties
Informational roles: collecting, receiving, and disseminating
information
Decisional roles: making decisions and include entrepreneur,
disturbance handler, resource allocator, and negotiator
Organisation: deliberate arrangement of people to accomplish
some specific purpose
Why do organizations need managers?
- Managerial skills and abilities are
needed in this uncertainty times.
- They are critical to getting things done.
- They make a difference in the
performance of the organization,
relationship between managers and
employees.
,Management skills:
Changes facing
managers:
Sustainability: a
company’s ability to achieve its goals and increase its long term shareholder value by
integrating economic, environmental, and social opportunities into its strategies
,Chapter 2 - Decision making
, Steps in decision making
1. Identify the problem
2. Define what’s important or relevant to resolving a problem
3. Put an order to the criteria to give them priority
4. What could be done to solve it
5. Evaluate the solutions
6. Choose a solution
7. Put the solution into action
8. Evaluating the outcome to see if the problem was resolved
Rational decision making: make logical and consistent
choices to maximise value
Bounded rationality: decision making that’s rational, but
limited by an individual’s ability to process information
Satisfice: accept solutions that are “good enough”
(rather than maximizing)
Escalation of commitment: an increased commitment to a previous decision despite
evidence it may have been wrong
Intuitive decision making: making decisions on the basis of experience, feelings, and
accumulated judgement
Evidence based management: making a decision based on the evidence you have
Crowdsourcing: You rely on people outside of the company to make decisions.
Chapter 1 - Managers and you in the workplace
Managers: someone who coordinates and oversees the work of other people
so organisational goals can be accomplished - What do managers do?
➔ Management - coordinating and overseeing the work of others
➔ Efficiency - getting the most output from the least amount of inputs
➔ Effectiveness - doing the right things
➔ Plan, organise, lead, control
Managerial roles: specific actions or behaviours expected of an
exhibited by a manager
Interpersonal roles: people and other ceremonial and symbolic
duties
Informational roles: collecting, receiving, and disseminating
information
Decisional roles: making decisions and include entrepreneur,
disturbance handler, resource allocator, and negotiator
Organisation: deliberate arrangement of people to accomplish
some specific purpose
Why do organizations need managers?
- Managerial skills and abilities are
needed in this uncertainty times.
- They are critical to getting things done.
- They make a difference in the
performance of the organization,
relationship between managers and
employees.
,Management skills:
Changes facing
managers:
Sustainability: a
company’s ability to achieve its goals and increase its long term shareholder value by
integrating economic, environmental, and social opportunities into its strategies
,Chapter 2 - Decision making
, Steps in decision making
1. Identify the problem
2. Define what’s important or relevant to resolving a problem
3. Put an order to the criteria to give them priority
4. What could be done to solve it
5. Evaluate the solutions
6. Choose a solution
7. Put the solution into action
8. Evaluating the outcome to see if the problem was resolved
Rational decision making: make logical and consistent
choices to maximise value
Bounded rationality: decision making that’s rational, but
limited by an individual’s ability to process information
Satisfice: accept solutions that are “good enough”
(rather than maximizing)
Escalation of commitment: an increased commitment to a previous decision despite
evidence it may have been wrong
Intuitive decision making: making decisions on the basis of experience, feelings, and
accumulated judgement
Evidence based management: making a decision based on the evidence you have
Crowdsourcing: You rely on people outside of the company to make decisions.
