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New Member
5- Topics
· Management and Change
· Marketing
· Employment Relations
· Globalisation
· Financial Management
4- Topics in Management and Change
· Nature of management
· Understanding Business Organisation
· Management Change
· Change and social responsibilities
3- Roles of Management
· Interpersonal
· Informational
· Decisional -Strategies
-tactics
-opportunities
-Gantt
-SWOT
-Decisional Tree
-Break even analysis
8-Skills of management
· Vision
· People Skills
· Strategies
· Self Management
· Flexibility and adaptability to change
· Self-management
· Teamwork
· Ethical
· Complex problem solving
6-Stakeholders
· Management change
· Social Justice
· Ecological Sustainability
· Compliance to the law
· Codes of practice
· Reconciling conflicts of interest
A) Management and Change
Nature of Management-
Effective management-
Management is the act of getting things done through other people. Managers are the controllers/leaders and planners of a business. Managers attempt to achieve the goals of a business by making the most efficient use of both human resources and other resources.
Effective management- managers attempt to achieve effectiveness first and efficiency second. Effectiveness involves doing the right things. This refers to the decision making function of management. From this decision making function, efficiency occurs. Efficiency relates to maximising output by minimising input.
Roles of management-
The process approach to management, introduced by their Fayal, viewed management as an ongoing continuous process. It is from this process of leading, controlling and planning that we find various roles of management.
Interpersonal- Good managers understand the interplay of the many forces within a business. The main function of a manager is to stimulate and then utilise the full potential of each worker. This is where managers must become leaders. Leading involves setting goals, standards and examples for subordinates, encouraging them to work well. This can involve listening to the opinions of a worker and providing feedback on the workers contribution, as well as rewarding success and correcting less than satisfactory efforts. This interpersonal side of management relies on effective communications and creating an image that commands respect, loyalty and a desire to get things done.
Informational- deals with the need for managers to communicate with all the parts of the business. Management will receiver information from both internal and external environments. An important information gathering technique is to implement controls which will provide management with information at each stage of the production cycle. By collecting information, management will be able to develop standards, access and measure performance and take corrective action.
Decisional- Concerned with taking action. A major decisional area deals with the involvement of management in planning for all business activities. This involves strategic planning, tactical plans, operational plans, Gap analysis, support service.
Skills of Management:
People Skills -Co-operation
-Consideration
-Consultation
-Greater responsibility
-Tertiary qualifications
Strategic Thinking -Prime Function
-Mission statement
-Competitive Advantage
Vision -Intermediate term
-Lower management role
-Tactical plans
-Operational plans
Flexibility and Adaptability to change -Change and innovation
-Organisation
-Communication motivation
Self-management -Efficient systems
-Time allocation
-Delegation of tasks
Team work -Cohesive unit
-Production activities
-Leading, organising, co-ordinating
-No middle management
Ability to solve complex problems and make decisions -Rapid change and completion
-Democratic management: Flatter structure
Ethical and high personal standards -Less power in government
-Role in society is respected and needed for success
-Managers act as role models to employees
Responsibility of managers to stakeholders:
Management Change involves both:
Structural change- Impact of functions within the business. Occurring at the strategic level and may change to objectives and prime functions.
Process oriented approach- concerned with how things are done rather than with the activities. Its emphasis is on personal interactions, group dynamics and the attitude and motivation of workers.
Social Justice- Ensuring that discrimination does not occur in business, and accepting and implementing human rights.
Ecological Sustainability- achieving a balance between the production of goods and services and the use of the environment for this purpose.
Compliance with the law- The areas of law that businesses need to be compliant with are:
*Industrial relations
*occupational health and safety
*ASIC (Australian Securities and Investment Commission)
*Intellectual property (copyright and trademarks)
*Goods and Services Tax (GST)
Codes of Practice- Relates to social justice, but us usually based on ethical standards, are also among the most profitable for the industry in which they operate.
Reconciling conflicts of Interest- Many of the conflicts between the stakeholders and a business arise in the internal environment maybe resolved by referring to the goals of a business. When the conflicts develop between owners and employees unions may come into play, as well as OH&S committees.
B) Understanding business organisation-
Classical-scientific-
Scientific management- Scientific management is the managing of a business were science is taken into production such as time and motion studies. It is also the workings of the mind such as training and suitable workers.
Classical Management- Classical management is based on the fact that if there are plans the job is done better. This is the workings and plans that the manager initiates with a set time to a task in order to get the job done, with no other interruptions.
Classical-Scientific management- relies strongly on PLOC with a great emphasis on controlling. In traditional organisations, people provide the control through supervision. Classical-scientific organisation are characterised by a narrow span of control and deep chain of command. This is also known as an autocratic management which means you are told what to do.
Division of Labour- Dividing workers jobs to what they specialise in.
Behavioural-
Behavioural Management theories-recognises that to make big productivity gains, worker participation in the production process is necessary. It acknowledged the workers contribution to the output. Believers of the behavioural approach to management stress that people (employees) should be the main focus on the way the business is organised, basically meaning that human activity and normal practices should be added and prepared in order to create a successful business. Under the influence of LMC (leading, motivating and communicating)
Leading- Having a vision of where the business should be in the long and short-term and being able to direct and motivate the human resources in an organisation to achieve its objectives.
Motivating-Some people work harder than others. An employee with outstanding abilities may constantly be out formed by someone with average skills. The difference between the employees is their difference in motivation. To some extent, a high level of motivation is determined by managing practices. Setting efficient work practices that will motivate the employees including: Watch, Listen, Talk, Think.
Communicating- Effective communication is at the core of meeting the challenge of getting employees to have the same goals as the business. Communication is the exchange of information between people; sending and receiving of messages. Communication is one of the easiest and at the same time, most difficult activities for a manager because of the complex nature of communication. Unless managers are effective communicators and able to share their thoughts and plans; they will find it difficult to influence others.
Flat organisation Structure- The traditional structure is now regarded by many as too slow and unresponsive to rapid change, expensive to maintain and too difficult to manage. Hierarchical boundaries are being broken down to create a more flexible company.
Teams- Understanding the group dynamics of teams and teamwork is vital for managers operating in the modern workplace. Such teams have no common purpose and therefore lack any sense of belonging to the organisation. Trust is a key element in team effectiveness. To achieve it requires a move away from an autocratic leadership style to one that is more participative or democratic.
Democratic leadership- This is one who asks employees for their contributions and opinions and doesn’t leave it to the higher members of the hierarchy. This creates trust and a closer community within the organisation.
Political-
Political management Theories- Politics is the use of methods, sometimes unstated and unethical, to obtain power or advancement within an organisation. Organisational life is often highly charged with political power and usually have unwritten rules.
Power and influence- Power is the ability to gather together resources to get something done.
Sources of power:
*Legitimate power- this is given because of status or position of a person.
*Expert power- A result of a person’s skills and expertise.
*Referent Power- From people individual characteristics-inspires and influences others.
*Reward power-Relates to the rewards or compensation a manager distributes for doing a good job.
*Coercive Power- Controls individuals in the organisation by the actions or words of the man.
Sources of power to situations- Different situations may require the use of different types of power. Managers need to match their style to the situation. If dead lines must be met and production is behind schedule, reward or coercive power may be more effective. However, there are no rules for the use of power, and an effective manager will identify and use appropriate power as needed for the situation.
Management as Negotiating and Bargaining- An agenda may sometimes run counter to or obstruct the overall goals of the business and often results in conflicts. In these situations managers may use negotiating and bargaining in order to resolve it. There are crucial communication skills all managers need to develop and practice.
Coalition –is two or more people who combine their power to push or gain support for their ideas.
Systems/contingency-
Systems and Contingency Theories of Management- represent major innovations in ways of thinking about management and appropriate management practices. Two of the most contemporary view points are systems and contingency theories.
System Management theories- It is based on the idea that business can be seen as systems. A system is a set of interrelated parts that operate as a whole in order to achieve a common goal. According to the systems approaching, an organisation is made up of four main components.
Contingency Management Theories- This is a relatively new approach to management. Contingency theory stresses the need for flexibility and the adaptation of management practices and ideas to suite changing circumstances. Contingency theorists point out to managers that no two situations are absolutely identical. Each situation, therefore, requires its own unique solution.
C) Managing Change-
Changing Markets- Markets involve the supply and demand of G&S with an increase in global wealth (disposal income)
External Factors -Changing market Internal Factors-Accelerating technology
-Economic -E-commerce
-Financial -New systems/procedures
-Geographic -New business cultures
-Social
-Legal
-Political
-Technological
External influences-
Economic- Are such things as tax, currency alterations. IT is where an economic force outside your business impacts your business.
Financial- Forces involve borrowed money. When interest rates increase loan repayments increase. When interest rates increase people reduce credit purchases.
Geographical- Globalisation is removing barriers for international trade. A cross over with existing international markets. Within Australia, QLD & WA are growing rapidly. Changes in federal/state/local laws can have an impact on businesses.
Legal & Political- Political/legal are often similar. Change of government after a federal election could have an impact on the business.
Technological- This can be hardware and software improvements. It is more than computers, mobiles, ATM, GP’s, broadband, etc.
Internal Influences-
Accelerating technologies- The business accelerates due to its application of technology.
E-commerce (electronic commerce) - Any business transaction that occurs remotely through the use of phone-lines, modems, ATMs, eftpos and internet.
New systems/procedures- Research and education provides us with new methods of increasing profitability in a business, e.g.; JIT.
New cultures- A measure of the way a business thinks and acts. Modern businesses have evolved into worker friendly/ democratic/ team approach.
Structural responses to change-
Outsourcing- Where a business determines its prime function and stops its involvement in non-core activities
Flatter organisation structures- Removal of middle management and supervisors. Increase in self-managed teams.
Strategic alliances- Multiple business join together to provide a service that neither business could provide by itself.
Network structures- Non-traditional groups within a business join together. Similar types of businesses have an increasing involvement.
Reasons for resistance to change-
When the pace of change is very rapid or coming from the external environment, then businesses may experience open resistance to change. Strategies for managing change now occupy a prominent place in management education course. The first step in managing change is to ensure managers understand the main reasons for resistance to change. Once these factors have been identified, each manager can put in place strategies to alleviate the resistance.
Financial-Purchasing new equipment
-Redundancy payouts
-Retraining
-Reorganising plant layout
Inertia- Owners
-Managers
Cultural-Mergers
-Takeovers
Staffing-De-skilling
-Acquiring new skills
-loss of career prospects/ promotional opportunities
Managing change effectively-
Identifying the need for change- In many cases the signals for change are obvious. Monitoring customer complaints or employee suggestions may indicate the need for change. New technology being adopted by competitors or developed by the research and development (R&D) department of a business, or a new production process will mean that change must happen. Increased competition from businesses in other countries will mean that the business will need to develop new strategies to complete successfully. A business may decide to shed all its non-core activities in order to concentrate on the core business.
Setting achievable Goals- Managers need to analyse the situation by conducting a SWOT analysis. Revise the mission statement and strategic goals; this will be the task of the upper management. Managers also devise general strategies for implementing the desired changes which can be incorporated.
Culture of change- To complete the planning implementation stage, managers need to be able to create the vulture of change within a business. Unless this step is taken, the natural resistance of change will prevail, and success will be unlikely.
Management and the teamwork approach- The new management approach is based on the importance of managing change and innovation. This is done through leadership in particular, empowering subordinates to maximise their skills and effectiveness. It is the leadership function of management which enables a business to cope with change. Managers need to secure by encouraging participation and involvement by all workers in the process of change.
Change models- force field analysis is the tension that exists between environmental change and psychological resistance. The model distinguishes between strong and weak force. The appropriate change path is selected by answering questions about the forces of change and resistance to a particular change which may occur.
Unfreezing- Systematically upsets the equilibrium between the forces driving change and those discouraging it so that others will also feel the need for change. Managers can create the climate for change if it does not currently exist.
Changing- Introduces the change, such as introducing new systems or new machinery.
Refreezing- Describes the process where managers re-establish the situation and encourage the long term acceptance and success of the change.
hope it helps
· Management and Change
· Marketing
· Employment Relations
· Globalisation
· Financial Management
4- Topics in Management and Change
· Nature of management
· Understanding Business Organisation
· Management Change
· Change and social responsibilities
3- Roles of Management
· Interpersonal
· Informational
· Decisional -Strategies
-tactics
-opportunities
-Gantt
-SWOT
-Decisional Tree
-Break even analysis
8-Skills of management
· Vision
· People Skills
· Strategies
· Self Management
· Flexibility and adaptability to change
· Self-management
· Teamwork
· Ethical
· Complex problem solving
6-Stakeholders
· Management change
· Social Justice
· Ecological Sustainability
· Compliance to the law
· Codes of practice
· Reconciling conflicts of interest
A) Management and Change
Nature of Management-
Effective management-
Management is the act of getting things done through other people. Managers are the controllers/leaders and planners of a business. Managers attempt to achieve the goals of a business by making the most efficient use of both human resources and other resources.
Effective management- managers attempt to achieve effectiveness first and efficiency second. Effectiveness involves doing the right things. This refers to the decision making function of management. From this decision making function, efficiency occurs. Efficiency relates to maximising output by minimising input.
Roles of management-
The process approach to management, introduced by their Fayal, viewed management as an ongoing continuous process. It is from this process of leading, controlling and planning that we find various roles of management.
Interpersonal- Good managers understand the interplay of the many forces within a business. The main function of a manager is to stimulate and then utilise the full potential of each worker. This is where managers must become leaders. Leading involves setting goals, standards and examples for subordinates, encouraging them to work well. This can involve listening to the opinions of a worker and providing feedback on the workers contribution, as well as rewarding success and correcting less than satisfactory efforts. This interpersonal side of management relies on effective communications and creating an image that commands respect, loyalty and a desire to get things done.
Informational- deals with the need for managers to communicate with all the parts of the business. Management will receiver information from both internal and external environments. An important information gathering technique is to implement controls which will provide management with information at each stage of the production cycle. By collecting information, management will be able to develop standards, access and measure performance and take corrective action.
Decisional- Concerned with taking action. A major decisional area deals with the involvement of management in planning for all business activities. This involves strategic planning, tactical plans, operational plans, Gap analysis, support service.
Skills of Management:
People Skills -Co-operation
-Consideration
-Consultation
-Greater responsibility
-Tertiary qualifications
Strategic Thinking -Prime Function
-Mission statement
-Competitive Advantage
Vision -Intermediate term
-Lower management role
-Tactical plans
-Operational plans
Flexibility and Adaptability to change -Change and innovation
-Organisation
-Communication motivation
Self-management -Efficient systems
-Time allocation
-Delegation of tasks
Team work -Cohesive unit
-Production activities
-Leading, organising, co-ordinating
-No middle management
Ability to solve complex problems and make decisions -Rapid change and completion
-Democratic management: Flatter structure
Ethical and high personal standards -Less power in government
-Role in society is respected and needed for success
-Managers act as role models to employees
Responsibility of managers to stakeholders:
Management Change involves both:
Structural change- Impact of functions within the business. Occurring at the strategic level and may change to objectives and prime functions.
Process oriented approach- concerned with how things are done rather than with the activities. Its emphasis is on personal interactions, group dynamics and the attitude and motivation of workers.
Social Justice- Ensuring that discrimination does not occur in business, and accepting and implementing human rights.
Ecological Sustainability- achieving a balance between the production of goods and services and the use of the environment for this purpose.
Compliance with the law- The areas of law that businesses need to be compliant with are:
*Industrial relations
*occupational health and safety
*ASIC (Australian Securities and Investment Commission)
*Intellectual property (copyright and trademarks)
*Goods and Services Tax (GST)
Codes of Practice- Relates to social justice, but us usually based on ethical standards, are also among the most profitable for the industry in which they operate.
Reconciling conflicts of Interest- Many of the conflicts between the stakeholders and a business arise in the internal environment maybe resolved by referring to the goals of a business. When the conflicts develop between owners and employees unions may come into play, as well as OH&S committees.
B) Understanding business organisation-
Classical-scientific-
Scientific management- Scientific management is the managing of a business were science is taken into production such as time and motion studies. It is also the workings of the mind such as training and suitable workers.
Classical Management- Classical management is based on the fact that if there are plans the job is done better. This is the workings and plans that the manager initiates with a set time to a task in order to get the job done, with no other interruptions.
Classical-Scientific management- relies strongly on PLOC with a great emphasis on controlling. In traditional organisations, people provide the control through supervision. Classical-scientific organisation are characterised by a narrow span of control and deep chain of command. This is also known as an autocratic management which means you are told what to do.
Division of Labour- Dividing workers jobs to what they specialise in.
Behavioural-
Behavioural Management theories-recognises that to make big productivity gains, worker participation in the production process is necessary. It acknowledged the workers contribution to the output. Believers of the behavioural approach to management stress that people (employees) should be the main focus on the way the business is organised, basically meaning that human activity and normal practices should be added and prepared in order to create a successful business. Under the influence of LMC (leading, motivating and communicating)
Leading- Having a vision of where the business should be in the long and short-term and being able to direct and motivate the human resources in an organisation to achieve its objectives.
Motivating-Some people work harder than others. An employee with outstanding abilities may constantly be out formed by someone with average skills. The difference between the employees is their difference in motivation. To some extent, a high level of motivation is determined by managing practices. Setting efficient work practices that will motivate the employees including: Watch, Listen, Talk, Think.
Communicating- Effective communication is at the core of meeting the challenge of getting employees to have the same goals as the business. Communication is the exchange of information between people; sending and receiving of messages. Communication is one of the easiest and at the same time, most difficult activities for a manager because of the complex nature of communication. Unless managers are effective communicators and able to share their thoughts and plans; they will find it difficult to influence others.
Flat organisation Structure- The traditional structure is now regarded by many as too slow and unresponsive to rapid change, expensive to maintain and too difficult to manage. Hierarchical boundaries are being broken down to create a more flexible company.
Teams- Understanding the group dynamics of teams and teamwork is vital for managers operating in the modern workplace. Such teams have no common purpose and therefore lack any sense of belonging to the organisation. Trust is a key element in team effectiveness. To achieve it requires a move away from an autocratic leadership style to one that is more participative or democratic.
Democratic leadership- This is one who asks employees for their contributions and opinions and doesn’t leave it to the higher members of the hierarchy. This creates trust and a closer community within the organisation.
Political-
Political management Theories- Politics is the use of methods, sometimes unstated and unethical, to obtain power or advancement within an organisation. Organisational life is often highly charged with political power and usually have unwritten rules.
Power and influence- Power is the ability to gather together resources to get something done.
Sources of power:
*Legitimate power- this is given because of status or position of a person.
*Expert power- A result of a person’s skills and expertise.
*Referent Power- From people individual characteristics-inspires and influences others.
*Reward power-Relates to the rewards or compensation a manager distributes for doing a good job.
*Coercive Power- Controls individuals in the organisation by the actions or words of the man.
Sources of power to situations- Different situations may require the use of different types of power. Managers need to match their style to the situation. If dead lines must be met and production is behind schedule, reward or coercive power may be more effective. However, there are no rules for the use of power, and an effective manager will identify and use appropriate power as needed for the situation.
Management as Negotiating and Bargaining- An agenda may sometimes run counter to or obstruct the overall goals of the business and often results in conflicts. In these situations managers may use negotiating and bargaining in order to resolve it. There are crucial communication skills all managers need to develop and practice.
Coalition –is two or more people who combine their power to push or gain support for their ideas.
Systems/contingency-
Systems and Contingency Theories of Management- represent major innovations in ways of thinking about management and appropriate management practices. Two of the most contemporary view points are systems and contingency theories.
System Management theories- It is based on the idea that business can be seen as systems. A system is a set of interrelated parts that operate as a whole in order to achieve a common goal. According to the systems approaching, an organisation is made up of four main components.
Contingency Management Theories- This is a relatively new approach to management. Contingency theory stresses the need for flexibility and the adaptation of management practices and ideas to suite changing circumstances. Contingency theorists point out to managers that no two situations are absolutely identical. Each situation, therefore, requires its own unique solution.
C) Managing Change-
Changing Markets- Markets involve the supply and demand of G&S with an increase in global wealth (disposal income)
External Factors -Changing market Internal Factors-Accelerating technology
-Economic -E-commerce
-Financial -New systems/procedures
-Geographic -New business cultures
-Social
-Legal
-Political
-Technological
External influences-
Economic- Are such things as tax, currency alterations. IT is where an economic force outside your business impacts your business.
Financial- Forces involve borrowed money. When interest rates increase loan repayments increase. When interest rates increase people reduce credit purchases.
Geographical- Globalisation is removing barriers for international trade. A cross over with existing international markets. Within Australia, QLD & WA are growing rapidly. Changes in federal/state/local laws can have an impact on businesses.
Legal & Political- Political/legal are often similar. Change of government after a federal election could have an impact on the business.
Technological- This can be hardware and software improvements. It is more than computers, mobiles, ATM, GP’s, broadband, etc.
Internal Influences-
Accelerating technologies- The business accelerates due to its application of technology.
E-commerce (electronic commerce) - Any business transaction that occurs remotely through the use of phone-lines, modems, ATMs, eftpos and internet.
New systems/procedures- Research and education provides us with new methods of increasing profitability in a business, e.g.; JIT.
New cultures- A measure of the way a business thinks and acts. Modern businesses have evolved into worker friendly/ democratic/ team approach.
Structural responses to change-
Outsourcing- Where a business determines its prime function and stops its involvement in non-core activities
Flatter organisation structures- Removal of middle management and supervisors. Increase in self-managed teams.
Strategic alliances- Multiple business join together to provide a service that neither business could provide by itself.
Network structures- Non-traditional groups within a business join together. Similar types of businesses have an increasing involvement.
Reasons for resistance to change-
When the pace of change is very rapid or coming from the external environment, then businesses may experience open resistance to change. Strategies for managing change now occupy a prominent place in management education course. The first step in managing change is to ensure managers understand the main reasons for resistance to change. Once these factors have been identified, each manager can put in place strategies to alleviate the resistance.
Financial-Purchasing new equipment
-Redundancy payouts
-Retraining
-Reorganising plant layout
Inertia- Owners
-Managers
Cultural-Mergers
-Takeovers
Staffing-De-skilling
-Acquiring new skills
-loss of career prospects/ promotional opportunities
Managing change effectively-
Identifying the need for change- In many cases the signals for change are obvious. Monitoring customer complaints or employee suggestions may indicate the need for change. New technology being adopted by competitors or developed by the research and development (R&D) department of a business, or a new production process will mean that change must happen. Increased competition from businesses in other countries will mean that the business will need to develop new strategies to complete successfully. A business may decide to shed all its non-core activities in order to concentrate on the core business.
Setting achievable Goals- Managers need to analyse the situation by conducting a SWOT analysis. Revise the mission statement and strategic goals; this will be the task of the upper management. Managers also devise general strategies for implementing the desired changes which can be incorporated.
Culture of change- To complete the planning implementation stage, managers need to be able to create the vulture of change within a business. Unless this step is taken, the natural resistance of change will prevail, and success will be unlikely.
Management and the teamwork approach- The new management approach is based on the importance of managing change and innovation. This is done through leadership in particular, empowering subordinates to maximise their skills and effectiveness. It is the leadership function of management which enables a business to cope with change. Managers need to secure by encouraging participation and involvement by all workers in the process of change.
Change models- force field analysis is the tension that exists between environmental change and psychological resistance. The model distinguishes between strong and weak force. The appropriate change path is selected by answering questions about the forces of change and resistance to a particular change which may occur.
Unfreezing- Systematically upsets the equilibrium between the forces driving change and those discouraging it so that others will also feel the need for change. Managers can create the climate for change if it does not currently exist.
Changing- Introduces the change, such as introducing new systems or new machinery.
Refreezing- Describes the process where managers re-establish the situation and encourage the long term acceptance and success of the change.
hope it helps
