Management of Society Chapter 1 Essay

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Tuesday, September 9, 2014

Management of Society !
Chapter 1

- Management is an activity or process!
- Management is the process of assembling and using sets of resources in a goaldirected manner to accomplish tasks in an organizational setting!

- It can be divided into key parts!
• Management is a process: it involves a series of activities and operations, such as planning, deciding and evaluating !

• Management involves assembling and using sets of resources: it is a process that brings together and puts into use a variety of resources: human, financial, material, and informational !

• Management involves acting in a goal-directed manner to accomplish tasks: it is an activity with purpose and direction. The purpose or direction may be that of the individual, the organization, or usually a combination of the two. It includes one’s efforts to complete activities successfully and to achieve particular levels of desired results! • Management involves activities carried out in an organizational setting: it is a process undertaken in organizations by people with different functions intentionally structured and coordinated to achieve common purposes!

- Organizations- interconnected sets of individuals and groups who attempt to accomplish common goals through differentiated functions and their coordination !

- The term member refers to any person (any employee) in an organization without regard to that individual’s place in the organization!

!
Managerial Challenges!

- Managers need to be able to manage change effectively!
- Managers are responsible for managing resources- financial, human, and otherwise!
- To ensure that their organization is competitive and survives in a rapidly changing environment, they must manage strategically !

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Tuesday, September 9, 2014

- Managers must find ways to gain the employees acceptance of change in order to implement it effectively !

- To gain acceptance, it is useful for managers to create “small wins”!
- Two of the major causes of change with which managers must deal are new technology and globalization !
Technology!

- Technology developments often force managers to make changes!
- Example: the Internet !
- With the opportunities it creates, managers must find a way to exploit them because if they don’t competitors are likely to do so and take market share from them!

- The internet has increased the speed of change, the flow of information, the competitive reach into international markets, and the amount of competition in all markets! - Because the Internet provides information, it has served as a catalyst for the continued development of other technologies and information about them!

- It has placed an emphasis on the importance of knowledge and has increased the importance of human capital (the holder of knowledge)!

- It has helped many small and medium-sized firms to enter and compete in international markets, thereby enhancing globalization !
Globalization!

- Globalization is the development and observation of the increasing international and cross-national nature of everything from politics to business!

- Opening of markets to foreign firms coupled with economic development increases market opportunities but simultaneously leads to greater global competition !

- In order to compete effectively in global markets, firms have sought increasingly to outsource activities to people and firms in lower-cost countries like India and China!

- Globalization promotes greater involvement in international markets so firms moving into international markets increasingly need to learn about different cultures and the institutional environments in these markets !
Managing Strategically!
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- Must establish goals, effectively implement the strategy- which requires managers at all levels of the organization to set and accomplish goals that contribute to the
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