MGTO120 Midterm Exam

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MGTO120 Mid-term Exam
Jun. 21, 200pm, RM2503
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Course Overview- A Big Picture Where We Are

• Management (Robbins Coulter)

Part 1 Basic Concepts (Ch1)
Part 2 Context (ch3-5)
Part 1 Retrospect (ch2)
Part 3 Planning (ch6-9)
Part 4 Organizing (Ch10-13)
Part 5 Leading (Ch 14-17)
Part 6 Controlling (Ch 18,19)
What we will cover in exam
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MANAGEMENT? ORGANIZATION?

• Process of coordinating work activities so that
  they are completed efficiently and effectively
  with and through other people

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WHAT DO MANAGERS DO?

• Three categorization schemes
• Management Functions (POLC)
• Management Roles (IID)
• Management Skills (CHT)

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Ch. 2 Evolution of Management
Management Theories
Organizational Behavior
Historical Background
General Administrative Theorists
Scientific Management
Quantitative/system /contingency Approaches
Early Advocates
Early Examples of Management
Hawthorne Studies
Adam Smith
Industrial Revolution
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Organizational Culture

• A system of shared meanings and common beliefs
  held by organizational members that determines,
  in a large degree, how they act towards each
  other.
• The way we do things around here.
• Values, symbols, rituals, myths, and practices
• Implications
• Culture is a perception.
• Culture is shared.
• Culture is descriptive.

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Dimensions of Organizational Culture

• T
• O
• P
• A
• S
• I
• A

Exhibit 3.2
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Sources and continuation of the Organizational
Culture
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(No Transcript)
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National culture

• Individualism versus Collectivism
• Power Distance
• Uncertainty Avoidance
• Quantity versus Quality of Life
• Long-term versus Short-term Orientation

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Global Organizations and Globalization

• Multinational Corporation (MNC)
• Transnational Corporation (TNC)
• Borderless Organization

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Business Ethics IMPORTANT

• Classical view vs. Socioeconomic view
• Organizational Stakeholders

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From Obligation to Responsiveness to
Responsibility

• Levels of social involvement

e.g. Johnsons Johnsons Tylenol
e.g. Café de Coral non-smoking areas
e.g. Tobacco manufacturers health warning on
the packing
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Factors That Affect Ethical and Unethical Behavior
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JUSTICE (practical, by John, not in text)a
model of Ethical Decision criteria

• 1.      Justice all follow same rule
• 2.      Utilitarianism greatest good
• 3.      Spiritual values do unto others as you
  would want them to do to you
• 4.      TV rule defend openly on TV
• 5.      Influence any influence of your action?
• 6.      Core important to you, your core values
• Emergency urgency of situation
• Remember Sadhu??

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8 steps in the Decision-Making Process
Exhibit 6.1
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Bounded Rationality
More reasonable assumptions?

• Managers make decisions rationally, but are
  limited (bounded) by their ability to process
  information.
• Assumptions are that decision makers
• Will not seek out or have knowledge of all
  alternatives
• Will satisficechoose the first alternative
  encountered that satisfactorily solves the
  problemrather than maximize the outcome of their
  decision by considering all alternatives and
  choosing the best.

This helped Herbert Simon and his buddy get a
Nobel Prize
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(No Transcript)
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2. How long is the Chang Jiang River??
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Overview of Managerial Decision Making
Exhibit 6.14
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Planning

• A primary functional managerial activity that
  involves
• Defining the organizations goals
• Establishing an overall strategy for achieving
  those goals
• Developing a comprehensive set of plans to
  integrate and coordinate organizational work.
• SMART goals
• Specific
• Measurable
• Achievable (but not easy)
• Realistic
• Time-anchored

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MBO Cascading of Objectives
Organizational Objectives
The XYZ Company
Divisional Objectives
Consumer Products
Industrial Products
Departmental Objectives
Development
Research
Marketing
Customer Service
Sales
Production
Individual Objectives
Key Elements of MBO?
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The Strategic Management Process
Exhibit 8.1
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Levels of Organizational Strategy
Exhibit 8.4
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The BCG Matrix
??
??
??
??
Exhibit 8.5
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Forces in the Industry Analysis
Michael Porter
Three Competitive Strategies?
Exhibit 8.6