Management Marketing

Topics: Decision making, Decision theory, Management Pages: 58 (15210 words) Published: February 27, 2012
EFM Academy – Summary: Essentials of contemporary management, Gareth R. Jones, Jennifer M. George / Marketing – Real People, Real Choices, Solomon / Marshall / Stuart

Essentials of Contemporary Management

Chapter 1
What is Management?

– The Management Process Today

Management is the planning, organizing, leading and controlling of human and other resources to achieve organizational goals efficiently and effectively

Achieving high performance: a manger’s goal
Organizational performance is a measure of how efficiently and effectively managers use resources to satisfy customers and achieve organizational goals. Efficiency is a measure of how well or how productively resources are used to achieve goals; o Organizations are efficient when the amount of input resources or the amount of time needed to produce a given output of goods or services is minimized Effectiveness is a measure of the appropriateness of the goals that managers have selected for the organization to pursue and of the degree to which the organization achieves its goals o Organizations are effective when appropriate goals are chosen and achieved High effectiveness Low efficiency A product that the customer want, but that is too expensive for them to buy A low-quality product that customers do not want High efficiency A product that customers want at a quality and price that they can afford A high-quality product that customers do not want


Low effectiveness

Managerial Functions
… are planning, organizing, leading and controlling → how well managers perform these functions determines how efficient and effective their organizations are

… is a process that managers use to identify and select appropriate goals and course of action Three steps in the planning process are: 1. deciding which goals the organization will pursue 2. deciding what courses of action to adopt to attain these goals 3. deciding how to allocate organizational resources to attain those goals Author: Kathrin Köhler


EFM Academy – Summary: Essentials of contemporary management, Gareth R. Jones, Jennifer M. George / Marketing – Real People, Real Choices, Solomon / Marshall / Stuart

The outcome of planning is a strategy, a cluster of decisions concerning what organizational goals to pursue, what actions to take, and how to use resources to achieve goals

… is a process used to establish a structure of working relationships that allows to interact and cooperates to achieve organizational goals The outcome of organizing is the creation of an organizational structure, a formal system of task and reporting relationships that coordinates and motivates members so that they work together to achieve organizational goals → determines how an organization’s resources can be best used to create goods and services

… is articulating a clear vision for organizational members to follow and energizing and enabling organizational members so that they understand the part they play in achieving organizational goals Leadership depends on the use of power, influence, vision, persuasion, and communication skills to coordinate the behaviours of individuals and groups so that their activities and efforts are in harmony and to encourage employees to perform at a high level.

… is evaluating how well an organization is achieving its goals and take action to maintain or improve performance

Types of Managers
Organizations employ three types of managers: first-line managers, middle managers, and top managers → grouped into departments (or functions) A department (e.g. manufacturing, accounting..) is a group of people who work together and possess similar skills or use the same kind of knowledge, tools or techniques to perform their jobs

Levels of management
• First-line managers (or supervisors) o Responsible for the daily supervision of the nonmanagerial employees who perform many of the specific activities necessary to produce...
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