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Dynamic environment: The market is dynamic as there is a constant
change in market expectations, technology and trends. This could be due
to globalisation. Firms thus need to be able to change with the market and
the new challenges presented. Some examples of a dynamic environment:
Video rentals: People are now downloading movies online and most
video rentals are now out of business.
Kodak went bankrupt because they didnt change along with the
technology and current trends.
Floppy disk was surpassed by the USB which is being killed off by
the cloud which makes it more practical to access the same files on
a number of devices.
being
organisation or part of it.
concerned
with
the
running
of
an
What is an organisation?
An organisation is any structured group of people working together to
achieve certain goals that individuals could not reach alone.
An organisation is not the building, office or the procedures. People and
relationships, interaction and communication are critical to any
organisation. The organisation does not exist in a vacuum (closed system)
and it must interact with its environment (open system).
An organisation is not always a business operating for profit to maximise
wealth, it can also be a non-profit organisation and they can offer either
products and/or services. A business enterprise can be either a global
giant of a small start-up.
Sometimes, if you cannot beat them join them. This can be done for
growth and to achieve economies of scale or to protect themselves from a
greater competition
Ex: Gasan Mamo Insurance: If the number of clients doubles, we dont
need double the employees working in administration
Ex: Maltas police, armed forces and administration. It does not
necessarily mean that they need to be increased if there are more people.
Services:
Even if the company sells products there is a service element, such as the
after sales service after buying a car. This can help keep current
customers and give a competitive edge over competitors. When the
competing products are more or less homogenous, the price will become a
more important factor.
Services have a number of characteristics:
Now you dont have to be a global giant to produce phones, like the
Chinese brands, and people decide what to buy on the basis of price.
China, the factory of the world, is producing its own phone
components as it is the largest consumer of iPhones. Foxcon produces
Apple products and is trying to buy out a Japanese company to move
up the value chain.
As large organisations become more complex, they need management
to be able to use its resources in the most efficient and effective way
possible,
International management:
international, thus, bringing in
Large
organisations
can
be
Not-for-profit organisations:
1.
There are many different types of managers. Ex: account, division, plant,
and department. What do they have in common?
A manager need not be called a manager: Chief Executive Officer,
Supervisor, Vice President, and Coach. Accountants, lawyers, stock
brokers, architects are managers as they manage their own selves. To the
organisation they are specialists in providing their service and contribute
in their individual capacity. They are not essentially managers to the
company.
Managers are responsible for the efforts of a group of people who share
common goals and resources. The managers performance is based on the
performance of the people he directs. A manager needs to have the
capabilities of all the other team members.
Input
Human
Material
Financial
Information
al
Planning
Organising
Controlling
Leading
Resourc
es
Output
Goal
realisation
efficiently
and
effectively
resources
to
achieve
2.
Organisation:
Controlling:
Ex: Objective: survive in the market. Measure: sales and profits. Take
action: increase the rate of profit growth by selling more at a higher profit
margin or go international.
By decreasing the cost of production and increasing the perceived value
built into the product/service, the organisation would be able to charge a
premium or to sell larger volumes Ex: Ryanair: low prices, high sales.
There are several control procedures:
i.
ii.
iii.
iv.
4.
Specific:
Attainable
Results-oriented:
Leading:
The leader has a vision and a mission that is in common with the groups.
This can be seen from the large multi-national perspective where leaders
manage to turn their companies from the brink of failure to a very
profitable one.
All managers perform these functions to different extents and magnitudes
(which is more important)
Managerial jobs differ from each other in:
1.
the
organisation
in
community/
social
occasions.
vii. PR duties (maintaining the companys image): CSR,
largest
organisations.
management
group
in
most
do basic
The manager needs to know when to motivate his team as they affect
his performance. Ex: Snow dogs, coach of football team. This is a
difficult position to be in as they are in between the rock and the hard
place.
a. Marketing manager:
and sales.
iv) Place and distribution: Decide where the product is sold and
how it is distributed.
b) Finance manager:
This manager is concerned with managing the flow of funds effectively,
into and out of the organisation. Responsibilities include:
i.
ii.
Investing
iii.
iv.
v.
c) Operations Manager:
The operations manager manages systems that create the organisations
products and services. This manager also performs operations needed to
ii.
iii.
Schedule production
iv.
Maintaining equipment
v.
ii.
iii.
iv.
v.
vi.
Internet
Intranet/extranet
Expert systems.
to
take
decisions
Communicat
ion
Planning
and
administra
tion
Global
Awarenes
s
Dimensio
ns of
managem
ent
Selfmanagem
ent
Teamwor
k
Strategic
action
1.
2.
This involves the deciding of what tasks need to be done and how. The
manager allocates resources to those tasks and monitors their progress
and ensures they are done.
2.
2.
2.
This involves taking responsibility for life at work and beyond and not
blaming others.
2.
Strategy is derived from the Greek word stratos (stratos = army); its
origins lie in planning and conducting military campaigns:
Displacing enemy powers
Gaining advantage and supremacy
Defending ones position.
In an organization, managers must plan ahead and must see the bigger
picture.
In Asia, references to the concept of strategy are much more
consensual, dynamic, and synergetic as they focus on growing together.
On the other hand, in Western cultures, managers think that if one is
gaining, another one is losing; a more individualistic perspective.
To have a successful strategy, all employees must know:
Where they are going: The GOAL
How they can get there: The STRATEGY; HOW.
progress
Helps measure progress: If something cannot be measured, it will
not get done.
Possibly promotes creativity and innovation toward a central
purpose.