principals of management

Management Functions   Management Functions   Management Skills   Rewards and Challenges of Being a Manager  There are six major approaches to management.  They are explained as  14 principles of management which are as follows QUANTITATIVE APPROACH TO MANAGEMENT .....
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    **** ***** *****

    Mintzberg ********* * ******* study of managers ** work ** ********* **** managers ******* 10 ********* ***** ***** *** highly interrelated Management ***** ***** ** ******** **********

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    *********** duties and

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    *** elements ** *** four ********** ********* *********** ******* ** *** internal *** ******** ************ **** * ********** impact **

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    ** *** ************ ** management *** ******* of **** *** the ******* *** ********** ** ***** * manager The ************ ** Management: Management is ****** ** all ***** *** sizes ** ************* ** ***

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    ****** ********* *** *********** of * diverse *****

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    ******* 2 ********** ********* and ***** Organizations *** ******** **** existed for ********* ** ***** *** ******** pyramids and *** Great ****

    ** ***** ****

    ******** of ********** scope ***

    ********* and required **** ********** ********** ** *** titles ***** ** managers ********** history ******* has ****** *** ** plan **** ***** ** ** ************ organize ****** *** ********* lead *** ****** workers *** ****** ******** to ****** **** ***** **** attained as ******* *** ********** ****** *********** to *** study of ********** *** **** of Adam ***** in *** *********** *** ****** ** ************** ** ***** ** ******

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    ** ********* *** ********** **** ********** *** * *** ** ** **** The

    **** ********* *********** **

    **** ***** *** ********* * Taylor *** ** known as *** “father” ** ********** management ***** *** principles ** ********** ********** ****** *** able to ****** *** ********** **** way” *** ***** **** *** ***** *** Lillian ******** **** ******** ** ************** work *** proceeded ** ***** *** develop ***** own methods ** ********** ********** **** ******* a classification ****** ** ***** **

    ***** **** ******* called ********* ** ***** ** ********* ******** ******* Guidelines devised ** ****** *** others ** ******* ********** ********** are ***** **** ** ************* organizations ******* ******* ********** ******** is not ********** ** ********** ********** ********* alone ******** **

    ********** ********** still used include: * ***** **** *** ****** ******* * ****** best ********* workers * ********* ********* systems ***** ** ****** 2) ******* ************** THEORISTS **** ***** of ******* *** focused ** *** ******

    ************ ********* more general ******** of **** managers do and **** constitutes good management ******** ***** ***** *** Max

    ***** were the *** **** prominent ********** of *** general ************** ******** Fayol ******* ** ********** ****** ** all ******** ** ********* *** practice ** management ** ******** from

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    * ************ * ************** * ****** Chain ** ***** 11 ******

    ** Stability ** ********** ** ******* ** ***** *** ***** *** a German sociologist *** ********* * ****** ** authority structures *** described organizational activity ***** ** authority relations ** ********* *** ***** **** of ************ as * *********** ****** ** division ** labor

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    The ************* approach ********** ****** World

    *** II ** mathematical and statistical ********* to ******** problems **** ********* *** ******* *** *** ********* ** quantitative ******** today ** that it has contributed **** ******** to managerial ******** ****** ************ ** ********

    *** *********** *** ************ of ************* computer software ******** *** **** *** *** ** quantitative techniques **** ******** *** managers

    4) ************** BEHAVIOR *** field ** ***** ********* with *** ******* *********** ** ****** at work ** ************** ******** ************** ******** **** ******** *** *********** much ** **** ** **** ***** ***** ********* ********** and ************ views ** motivation leadership *****

    ******** *** conflict **********

    *** ***** ********* ** ** ******** **** Robert **** Hugo *********** **** ****** ******* *** ******* ******* ***** ideas ****** as *** ********** *** employee ********* ********** ********** ******** **** ***** and organization-environment ********** ********** *** Hawthorne ******* **** *** most ********* ************

    ** *** *********** ** organizational ******** **** ****** ** *********** ********* from **** ** the ***** 1930s at ******* ******** Company’s ********* ***** in ****** ******** **** ********* ******* as * ********** management ********** ** ****** *** ****** ** changes in ******* physical environment ********* on ******** ************ ***** *******

    ********* ***** **** *** *** ********** ****** the study ** consultants ***** experiments **** included to look ** *********** **** make changes ** ******* *** ******** ****** ********* rest ******* *** introduce ********** ****** group **** ***** *** *********** concluded that ****** *****

    or group ********* were *** ************ ** ********** **** ******** ******** not ******* ********* *********** ********** analyses of ******** and *** ************ *** ********* Studies ********** ******** ** human ******** ** ************** settings ** the ******* *** ******* behavioral ********

    assists ******** ** ********* jobs **** ******** ******* in ******* with ******** ***** *** ** ************ the

    **** of ************* ****** ************* *** behavioral approach ******** the ********** *** current ******** ** ********** leadership and group behavior *** *********** ** ***

    ******* APPROACH During *** 1960s researchers ***** to analyze ************* from * ******* *********** ***** on *** physical ******** A system ** a *** ** ************ *** ************** parts ******** in * manner that ******** a ******* ***** *** *** basic ***** ** ******* are **** ***

    closed A ****** ****** **

    not ********** by *** does *** ******** **** *** *********** An **** ****** ********* **** *** *********** ***** *** ******* ******** managers ******** ** ************ as a **** **** many ************** ***** **** ** ***** ** important ** *** ********** ** *** ************ ** a ***** ******** ********** the work ********** ** *** various ***** of *** ************ ********* that ********* and actions ***** in *** ************** ****

    **** ****** other areas *** ******* ******** ********** **** ************* *** not *************** they **** ** *** *** ******** by ******* ** ***** external environment 6) THE *********** ******** *** contingency ******** ********** **** ********* ************* require ********* **** of managing *** *********** approach to management is a **** **** *** ************ recognizes and responds to

    *********** variables ** they ***** ******* TRENDS *** ****** *** ********* *** *** ******* concepts and practices are ******** *** ***

    ******** ** ***** **** today

    ************** ************** ********** *** no ****** limited by ******** ******* ******** throughout *** ***** **** **** **** *** ************* *** challenges ******** ** *** globalization of ******** Ethics: Cases ** corporate ***** ******************

    *** financial ************* have ****

    widespread in ****** years ******** ** ***** such as Enron ImClone ****** ******** *** Tyco ************* **** placed

    ***** *** self-interest ***** ** ***** stakeholders’ welfare ***** **** managers ******** to ****** ** * ****** ******* ****** ****** suggest * **** to “upgrade” ethical standards ******

    education ** increasingly emphasized ** ******* ********* ***** ************* *** ****** * **** ****** **** in creating *** ***** ***** ** ****** ethics training programs *** ethical ****** ********** ********* ********** It ****** ** * ********* **** is heterogeneous ** ***** ** ****** race ********* *** *** other *************** **** ******* *********** ************* ******* groups ** people ** addressing ********* ********** ****** ***** and **** ****** ** * major challenge *** today’s ********* ***************** It ** the process whereby an individual ** group ** *********** *** *********

    efforts ** ****** opportunities ** ****** value *** grow ** fulfilling ***** *** ***** ******* innovation and uniqueness no matter **** ********* the ************ ********* *** ***** ********* themes ***** *** ** **** definition: * *** pursuit ** ************* * ********** c ****** ****************

    will ******** ** ** important ** ********* around *** ***** ******** ** ** ********** World: E-business (electronic ********* is * ************* **** ********** *** *** ** ************ **** *** **** ** ***** ********** **************** linkages with *** key ************** ** order

    ** *********** *** *********** ******* its ***** ********* Management

    *** ******** ************** ****** is ********* at ** ************* ****

    ** ** successful ************* organization **** ****** a ******** ********************** **** *** ********* *** capacity ** ************ learn ***** *** ****** ********* management involves *********** * ******** ******* where ************** ******* systematically ****** knowledge *** ***** it **** ****** ** *** organization so ** to ******* ****** *********** ******* ***********

    ******* ********** ** a ********** of management **** ** ****** ** continual *********** *** ******** ** customer ***** and expectations *** ********* of quality ********** is ** ****** ** ************ committed ** continuous *********** ** **** Chapter * ************ Culture *** ************ *** *********** *** ********** ** an organization’s culture *** ** ******* ** *** ********* aspects ** ** ****************** ***********

    ************* ******** must ********** *** *** ****** ** ** ******************** ******** *** ******** *********** ********* *** ********* ********* *** ************ ******** must ******* **** ************** culture and ************** *********** **** ********* ************ *** *** *** ** ************ ** managed

    *** ************ concerning

    the **** **** ******** **** in an

    organization’s success ** failure have been proposed *** ********** view of ********** maintains **** ******** *** ******** *********** *** *** ******* ** ******* of ** organization **** view of ******** ** ***** ********** ** ********** with the ************* ******* of *** “take-charge” ********* *** *** overcome *** ******** ** ******** out the ******************** ********** **** ************* *******

    poorly someone must ** **** accountable and ********* ** *** omnipotent **** **** ********************* is ********** The ********

    **** of ********** ******* *** **** **** **** ** ** ******************** ******* or failure is *** to ******** ****** ******* *************** control The ********* **** ******** ** **** ** **** ****** ** a ******** ******* Organizational results *** influenced ** ******* ******* of *** control of ******** ********* *** ******* ****** ******* ************ policies ****************** ******* *** ***** ** the particular ******** *** ******* ** *********** **********

    *** decisions **** ** previous ******** ** *** organization *** *************** **** ** to ****** ******* out ** ********** confusion *** ********* ********* ** *** ******** **** *** ****** **** that ********** ***** ** the success ** ******* ** an ************ ** minimal ******* ******** a ********** ******** *** ******* helpless nor *** ******** Instead the **** ******* ******** ** ** see the ******* as operating within *********** ******* ** *** organization’s ******* *** *********** *** ******************** ******* Just ** *********** **** * *********** so *** ** organizations ** ***** ** ** organization’s *********** ** *** ******* ************** culture ** *** shared values ********** ********** *** **** of ***** ****** **** ********* ***

    *** ************** ******* *** **** ********** implies: * Individuals perceive organizational ******* based ** **** **** *** hear ** ********** ****** *** ************* * Organizational ******* ** shared by *********** ****** the *************

    ************** ******* is

    * *********** term ** describes rather than ********* ***** ********** ** ** ******************** ******* have **** proposed * Innovation and

    risk taking (the ****** ** ***** ********* *** ********** to ** ********** *** **** risks) b ********* ** ****** (the ****** to ***** employees

    *** expected ** exhibit ********* ******** *** ********* ** ******* c ******* orientation **** ****** **

    *****

    ******** ***** ** ******* or outcomes ****** **** on ***

    ********** *** processes **** ** ******* ***** outcomes) * ****** *********** **** degree

    to ***** ********** decisions **** **** ************* *** ****** **

    ****** ****** *** ************* e Team orientation **** degree ** ***** work ********** *** organized ****** ***** rather **** ************ * ************** (the ****** ** which people *** aggressive *** competitive ****** than ********* *** ************ g Stability **** ****** ** ***** ************** activities ********* *********** *** status quo ** ******** to growth) ****** ****** **** ******** ****** ******** *** ***** ** ************* ***** *** ****** *** intensely **** and ****** ****** ******* * *************** ******* ** ****** **** ** ********* ** ******* depends ** ************** ******* **** ** **** age ******** ******** rate *** intensity ** ******** ******* * ******* *** ********** impact ** **** managers ** as *** culture ******* ******** **** ************* have ****************** ******** In these organizations **** ********* ****** about what is important *** **** *******

    ****************** employee behavior ******* **

    *********** *** ******* ** ********* *********** through ******* rituals ******** ******* *** ******** An ********** culture ****** have ***** **************** ****** Challenge *** involvement • ******* ****** ***** *** ******** ****** Idea **** ****** ***************** ****** ******** ********** ****** ******* ****** **** ******* The Organization’s *********** *** ******* *********** includes these broad ******** conditions **** *** affect

    *** ************* ******** *************** ************* *********** ************* and ****** conditions ****** ******** ********** include ******** ***** inflation ***** ******* in ********** ****** ***** ****** fluctuations *** *** ******* ******** ***** • Political/legal conditions include *** general ********* ********* ** ********* ** which ** ************ **** business *** *** specific attitudes **** elected ********* **** ****** business • ************* ********** include *** changing ************ of society ********

    ****** ******* and ******

    *** ****** *** managers **** be ***** of these ******* ****** *********** ********** ********* ******** *************** of a ********** (eg ****** ***

    ***** ** ********* ********** ******** ****** composition of ******* *** ****** *** ******** **** ***** ** ***** ******* ****** ************* conditions ***** **** changed more ******* than any ***** element ** *** ******* *********** • ****** factors ******* ****** *********** *** ****** ******** markets ************ ****** ** ***** ****** ** ************* *********** ***** relates ** (1) *** ****** ** change ** an ******************** *********** *** *** *** ****** ** complexity ** **** environment ****** of change is ************* ** ***** ******* or ****** ** a ******* *********** components of *** *********** ****** ********** ** ****** ** ******* the *********** is called a stable *********** *** ****** of ************* complexity ** *** number ** ********** in ** ******************** environment *** *** ****** ** ** ******************** ********* ***** *****

    ********** ** the number ** ********** *** the **** *** ************* ********* ** ******* the *********** ** classified as simple If * number ** ********** ********** *** a **** ****

    *** ************* ********* ***** *** *********** ** ******* ** *********** ** * ****** ** ************** effectiveness managers *** ** minimize environmental uncertainty ******* 4 ******** ** * Global Environment Managers ** ***

    ***** and ***** ** ************* **** ********** ******* ******* *** ******** the ********** *************** of their own ******** as **** **** ******** **** *** ******* ** **** ******* environment ******** ***** **** one of ***** ************ ** ********* toward ************* business * An ************ ******** ** *** ************** belief **** *** **** work ********** *** practices *** ***** ** *** home *******

    (the ******* ** which the *************** headquarters *** ******** 2 * *********** ******** ** ***

    **** **** the

    ******** ** *** host country ****

    ******* ******* ***** the ************ ** doing ********* **** *** best work ********** *** ********* *** running ***** ******** * A ********** ******** ** * world-oriented view **** focuses ** ***** the best

    approaches *** ****** **** ****** *** ***** ** be * ********** ****** *******

    an ********** ***** ** ** ********* ** *********** in national customs and practices ******* significant ****** *** ********* ************* global *********** ********* ******** ** *** ****** *********** include ******** trading alliances *** ********* ***** ** ****** ************* * ******** ******* ********* ******** ******* ********* are ********* global *********** *********** is ** ****** ******* ** ******* versus country but region ****** ****** * *** European ***** **** ** * ***** ** ** ******** nations ******* ** a ******* economic *** ***** ****** * The ******* ********** *** *** ******** ** the ** ** ******** **** was to ***** member ******* to ******** ***** ******** ******* ***

    ********** ******** ** the ****** ****** *** ***** b *** member ****** of *** EU participate ** *** EMU ********* *** ******** ****** *** ***

    ******** ** ***** ****** *** ************ ******** policy Twelve ****** ****** ** the ******** ***** have entered *** ***** ***** ** the *** in *****

    ************* ********* share * ****** ******** *** **** c ** 2004 *** EU added 10 *** members ******* ***** *** ***** ******** ******* ******* ****** ********* ****** ******** and ******** *** additional ******** *** join the ** ** *** **** ***** 2 The North American **** ***** Agreement (NAFTA) is ** agreement ***** *** ******* ******** *** ** governments ** which ******** ** trade have been ********** a ***** went **** ****** ** ******* 1 **** * The ******* of ***** was **** ********** and ********* * *********** barriers to **** ***** ******** import licensing ************ customs user fees) has resulted in * ************* of the ******** ***** ** *** ***** ********* d ******** Mexico *** ********* ****** an economic **** eliminating ****** ****** *** ******* ** 1994 e *********** countries ** the ******* **********

    ******** to negotiate a **** ***** **** ** the Americas ****** ********* **** was to **** **** in effect ** later **** **** *** has not *** ****** ************ *** future ** ***** ************ * The *********** ** ********* ***** ******* ******* ** a ******* ******** ** ** ***** ******* * In the ****** *** ********* ***** ****** ******** to ** one ** *** fastest-growing and ************ influential ******** ******* ** *** ***** * *** future economic ****** of *** ********* ***** ****** ***** rival **** ** **** NAFTA and the EU 4 Other Trade ********* *** 53-nation ******* Union **** **** ********* ** **** 2002 ******* **** ** ******* greater ******** *********** *** unity ***** ************** ******* * The World Trade ************ ***** Formed ** **** *** ********

    from **** *** *** ** the **** global ************ ******* **** *** ***** ** ***** ***** ******* * Membership ******** ** *** countries *** ** ******** *********** ** ** January **** 2 *** WTO ******* to **** an important role **** ****** ******* *** vocal and ****** visible ********* Types ** ****** ************* ******** has been conducted internationally *** **** ***** ************* ************ did not become ******* ***** *** ********* Global ************* can ** classified in *** following *********** * *** **** multinational *********** *****

    is a ***** term that ****** ** *** *** *** types ** ************* ********* **** ******** ********** in multiple ********* 2 * ************* *********** ***** sometimes ****** * ********** ************ ** * **** ** ************* company in ***** ********** ************ barriers *** ********** ****** ** ******************** ** ************ **** **** ************* typically ********** through ***** ****** ********* that ** international

    *** begin by using ****** ******** ***** called ****** outsourcing) ** **** ***** ** ***** ************* ********* ******** ********* or labor **** around *** ***** ******** *** ********* or ***** *** ***** expensive Beyond *** ***** ** ****** ******** **** successive ***** ** ****** **** international involves more investment and **** ** *** **** ***** ********* may go ************* ** ********* ******* ******** ************ *** selling **** abroad) ** importing ********** ******** made ****** *** ******* the products ************* Both exporting

    *** ********* ******* *******

    ********** *** **** ** *** ***** ****** ** ***** ************* managers *** **** *** ********* ******* another ************ the ***** to make ** **** *** products ***** *** ********** or ******* specifications) or franchising ******* ******* organization *** ***** ** *** *** **** and ********* methods ***** ** organization *** **** ************* ******** *** a ****** ** **** ******** may ****** ** **** **** ** *

    ****** ********** ** ************* markets ** forming a ********* ******** which ** * partnership between an organization *** a foreign ******* ********** ** * ********* ******** ******** ***** ********* *** ********* ** ********** *** ******** ** ******** **********

    ********** * ***** ******* (a ******** **** ** ********* alliance) *** be undertaken to ***** ******** to **** a separate independent ************ for **** business purpose ******** *** decide ** **** * ****** ********** ** a ******* ******* by ************ * ******* subsidiary **

    ***** a ******* sets ** * separate *** independent production ******** ** office ************ a ******* ********** involves the ******** commitment ** ********* *** *** ******** risk of all ** the stages ** ***** international ******** ** * ****** *********** ******* the ********* ********** *** *************** ************ *** *************** environment **** *** have ** ** unstable ** ************* ** **

    * ********* ** ******** The **** **** a *************** political ****** ******* from that of the ****** States ** ********* ** recognize The Economic Environment: The

    ******** *********** **** ******** many ********** to ************* ******** including fluctuations in ******** ***** ********* *** ******* *** ******** ** * market ******* ********* are ********* owned ** the ******* sector ** * ******* economy *** ******** ********* *** planned ** a central ********** The ******** ************ ********* **** ********* cultures just ** organizations

    ** ******** culture ** the values *** ********* shared **

    individuals from * specific country **** shape ***** behavior and their ******* ***** **** is important * framework ********* ** ***** ******** ****** as * ******** ********* *** understanding *********** ******* national ******** * ******** studied ************* ****** collectivism

    ************* ** *** ****** ** which people ** * ******* ****** to *** as *********** rather than ** ******* of ****** Collectivism ** ************* by a ****** ********* in which ****** prefer to *** as ******* ** groups *** ****** ****** ** ****** ** which they are a part

    (such ** * ****** or ** ************* ** **** ***** **** ***

    ** ******* **** * ******* cultural dimension ** ***** ******** ***** describes *** ****** to which * ******* ******* *** **** **** ***** in ************ ***

    organizations ** *********** ********* * Uncertainty ********* describes * ******** ******* ** *** ****** ** ***** ****** ********

    **** *** ************** ******** 4 Hofstede identified *** ********* of *********** ****** ********* Achievement ** *** ****** ** which ****** **** ** assertiveness *** acquisition ** ***** and ******** ***** *** competition ******* ********* emphasizes *********** ** ************* and ******* *** the ******* of others * ********* *** ********** *********** ****** ** ********* ****** long-term *********** ******** look to the ****** *** ***** thrift *** persistence ********** orientation ****** the **** and ******* *** ********** a ******* for ********* and ****** *********** 6 Countries **** ********* rankings on **************** ******** dimensions and ******** should ** ***** of the ******** *********** ******* ** ********* ** ***** they ** business The Global ********** and ************** Behavior ************* ******* research program is an ********** **** updates **************** studies ***** began in **** *** ********** **** ********** ** ***** ******** ******** ******* ************* ****** *********** ****** *************** *********** ********* ***** ******** individualism / ************ ******** ************ performance *********** *** ****** *********** ** ************* ***** *** ******** **** ** ********* ** ******* ******** successfully ** * ****** *********** ***** great ********** *** ********* ****** of ********* ******** *************** of trading ********* *** significant ******** ****** a *********** environment in ***** ** ****** ********** global managers **** ** have ***** sensitivity and ************* Managers **** ****** ********** ****** *** management approaches to *********** ********** diverse ******

    Chapter * ****** ************** and ********** ****** **** ******* discusses ****** involving ****** ************** and ********** ****** and ***** ****** ** ********** ******** ****** **** ****** ************** *** ****** *** responses to * changing *********** *** *** ********** ** ************** culture ******** ********* **** ********* that **** ********** ** social

    ************** ******** ******* ******** ********* ************ pricing ******** ************ ******* quality *** ***** business ** ********* **** violate ***** ****** SOCIAL ************** *** opposing views ** ****** ************** *** presented: *** ********* **** ** *** view **** ****************** **** ****** ************** ** to maximize ******* The ************* view is *** **** **** ****************** ****** ************** **** beyond the making ** ******* ** include

    ********** and *********

    *************** ******* * **** stage *****

    ***** *** ****** ************** ********** in ************* ****** ************** *** progress **** the ****** ** ******* all **** *** *********** while ****** for ******************* ********* ****** ** to *** ***** ** ************* ************** ** *******

    ** * ***** ****** ** ***** ************* *** highest ************* ********** Social *********** to Responsiveness to *************** ****** ********** ****** **** * **** engages in ****** actions ******* ** ***

    ********** to ****

    ******* ******** *** ***** **************** ****** ************** ** **** when * **** ******* ** ****** ******* ** response ** some ******* social **** ****** ************** ** * **************** ********* ****** *** legal *** ******** obligations to ** *** right ****** *** act ** ways that are ****

    *** society The ******** of ********** * ****** ** ****** ******* ecological ******** *** ************* ********* (eg ***** ****** *** ***** ******* ********* ** ***** ***** Mile ****** Chernobyl) brought ***** a *** ****** ** **************** Recognizing *** ***** **** ******* ** ******************** decisions *** activities *** *** ****** on ***

    ******* environment ** ****** *** ******** ** ********** ************ ********** ** an ******** ** ******** in which ******** are ****** ** the organization’s ****** values in ***** ********** ********* ******** ** ****** Values **** ** **** *** as ********** *** managerial decisions *** ******** ** ****** ****** ***** to ***** ******** ******** *** to *********** **** *** ************ ******* ** *** members ** Shared corporate values can ********* ** ******************** ********* efforts

    ** Shared ****** are * way ** ***** **** ****** in ************* ********** ****** *** **** ****** refers ** ********** values *** beliefs **** ****** **** ** ***** *** wrong ******** ******* **** ****** ******** ****** * ****** ** Moral *********** Research ******** three levels ** ***** *********** **** ***** *** *** ****** a) *** ***** level **

    called preconventional At **** ***** *** ****************** ****** between ***** ** ***** ** based ** personal ************ involved ** ** *** ****** stage which is labeled ************

    ***** ****** reside ** maintaining expected ********* *** ****** **

    to the ************ ** others ** *** third *************** ********** *************** ********** ***** * clear effort ** ****** ***** ********** apart **** the ********* of *** groups ** ***** the person belongs ** ******** ** the ****** ** ***** development *********

    **** ****** proceed ************ through *** *** stages of ***** three levels **** ** guarantee ** ********* *********** ** ***

    ***** *** ******** ** adults ***

    ** ***** * *** higher *** ***** ** ******** reaches the more ********** **** he ** *** will ****** ********* 2 Individual **************** * ****** ***** ** ************ **** * ********** entrenched set of values * ****** are ***** *********** ***** **** ** ***** and wrong ****** *** broad *** ***** * **** ******* of issues b *** strength ** a personality ******* of *** ******** ** a ************** *********** *********** *** score **** on *** ******** *** likely ** resist impulses to act *********** *** are ****** ** what **** ***** ** right c ***** ** ******* ** * *********** attribute **** ******** *** ****** ** ***** ****** ******* **** control ***** *** fate Individuals **** ** internal ***** ** ******* think **** **** control ***** destiny while ******* **** ** ******** ***** ** ******* are **** ****** ** **** ******** responsibility *** the ************ of

    ***** ******** and *** more ****** ** rely on ******** forces Externals ******* **** what ******* to **** ** *** ** **** ** ****** * A third ****** *********** ********** ****** ** structural variables *** ********* ** ********** variables **** ** formal rules *** *********** *** descriptions ******* ***** ** ****** *********** ********* systems *** ****** ******* can strongly ********* ******* ******** * *** ******* and ******** ** ** organization’s ******* influences ethical ******** * An organizational ******* **** likely to encourage high ******* ********* is *** that is high ** **** ********* ******* *** ******** ********* b A ****** ******* exerts **** influence ** ******** **** **** * **** *** * ******* ** ************* **** **** ******** **** ****** *** ************ ********* ******** ********* ethical ******** * ******* *** ********* ** ** ***** *** ****** ******* decisions Six *************** ********* ***** intensity * ********* ** **** * Consensus ** ***** *

    *********** ** harm d ********* ** ************ e ********* ** victim f Concentration of ****** ********* ******* ******** ************* *** take * number ** actions ** ********* ethical ******** ***** members **** ** ***** are” 1) *** ********* process

    *** bringing *** ********* **** organizations ****** ** ****** ** ** *********** ** learn about ** ****************** ***** ** ***** *********** ******** ****** *** ******** *** ***** of ******* ** * **** ** ****** is * ****** ********* ** an ******************** primary ****** *** the ******* ***** ** ******* ********* ** ****** ** ******** ******** ***** *** ** ********* to ***** ******** ** handling ******* dilemmas

    ** ******** ****** 3) *** management’s ********** *** ********** ** ******* ******** is ********* ********* ***** *** ******** **** *** ** ************ ** *********** by its *** ******** ** **************** *** goals ****** be ******** and ********* because clear *** realistic

    goals ****** ambiguity and

    ******** rather **** ****** Job ***** *** usually * *** ***** ** the *********** appraisal ******* ** **

    ** organization ***** ********* to ****** **** ******* ********* **** ********* must be ******** in *** ********* process *********** appraisals ****** include **** dimension rather **** focusing ****** on ******** ******** ** ****** training ****** be **** ** **** ***** ******* ******* ******* *** ** ******* simulations ** ******* ********** **** could ***** ** the ***** ****** ******** should increase ********* of ethical issues 7) Independent ****** ****** ******** ********* *** management ********* ** ***** of *** ******************** **** of ****** *** can ** **** ** ***** ********* behavior 8) Organizations can ******* formal protective mechanisms ** **** employees with ******* dilemmas *** ** **** ** ***** without **** of reprisal ****** ***************** A ****** entrepreneur ** an ********** ** ************ *** seeks *** ************* ** improve ******* by ***** ********* ********** *** sustainable ********** Social impact management: ******** *** increasingly ******** ** *** *********** in *** *** they ******* business Managers using a ****** impact ********** ******** ******* the ****** ******* of their decisions *** actions When **** ******** *** their actions ** planning ********** ******* *** *********** will **** in ***** of *** ****** context ****** which ******** ******** ******** ****** **** ***** ** ******* they *** ******* ** a *********** ****** Chapter * Decision ******* *** ******* of *** Manager’s Job ******** ** ** ************ ***** ********* *** decision making ** ************ ********* ** * manager’s job ******** making ** **** ** ********* **** ** *** **** ********** ********* **** decision ******

    ** **** ** ** ********** **** ******** *** *************** ******* * decision is * ****** **** **** *** or more ************ *** *************** ******* **

    a *** of ***** ***** **** ******* *** ********** *********** * problem: * ******* ** * *********** ******* ** ******** ***** and * ******* ***** ** ******* ** ***** ** ******** * ******* * ******* ****** ** **** ** differentiate *** problem **** *** ******** ** ****** ** ***** ******** ** ***** ****** *** **** **** *** authority *** ********* to **** action * Identifying ******** ********* ******** ********

    *** criteria that

    ****** **** ** ******** ** * ******** Allocating

    ******* to the ********* The criteria identified ** the ******** step ** *** *************** process *** not **** ***** ********** So ** decision maker **** ****** * weight ** **** ** *** ***** ** ***** ** **** **** item

    ******** ******** ** *** ******** Developing ************* *** ******** maker should **** ******** ****** ************ **** ***** ******* *** problem ********* ************* Each ** *** ************

    are then ********** ******** ** evaluating ** ******* *** ******** *********** ** ***** * and 3 ********* ** ************ *** **** step ** ** select *** **** *********** **** ***** ***** ********** *** ******** ** ******** ******* **** **** **** the decision ***** ***** ****** the *********** **** received *** highest ***** in Step 5

    Implementing *** ************ *** selected alternative is *********** ** *********** ************* *** decision ** *** ***********

    who would be ******** by it *** ***** commitment ** *** ******** ** ******** * ********** ******** ************** *** **** **** in the *************** ******* ** ** ****** the ****** ** the ******** ** ***** to ********* ******* or *** the ******* *** **** ******** ******** ***

    **** ********* ** *** ***** of rationality ******* rationality or ********* * ******** decision making ********** decision

    ****** ** assumed ** be ******************* is ****** ******* that are consistent *** **************** ****** ********* constraints * ******** ******* would ** ********** *******

    *** objective ******** ******** ****** assumes **** the ******* is ****** ********* in *** best ********* ** *** ************ *** ** ******* *** ********* *** *********** ** rationality *** be *** ** the ******* is ***** **** * simple problem **

    ***** (1) ***** *** clear *** ************ ******* *** **** pressures *** minimal *** *** cost ** ******* *** ********** alternatives is *** *** *** ************** ******* ******** ********** and **** ******

    *** *** ******** *** concrete *** ********** * ******* *********** ** *** ********* ******** ***** ** ******** making isn’t ********* ******** tend ** ******* ***** assumptions ** ******* *********** ***** ** ***************

    ******** **** ** ******** but limited ********* by an ****************** ability to ******* information ***** bounded rationality managers make *********** ********* ** which **** ****** solutions **** *** “good ************* *************** ******** making *** be ******** ********** by the ******************** ******* ******** politics ***** considerations and ** * phenomenon ****** ********** ** ***************** ** ********* ********** ** * previous decision despite ******** that ** may **** **** wrong 3 Intuitive ******** making ******** **** ********* use their ********* ********* decision ****** is * subconscious ******* ** making ********* ** *** ***** ** ********** *** accumulated ******** ******** intuitive decision ****** **** *** ******* *** ******** *************** ******* ** **** play ** ********* role ** ********** ******** making Types ** ******** *** ********* ******** encounter

    ********* types ** problems *** use ********* ***** ** decisions ** ******* **** ******** *** be ********** ******** ** ************ ******** *** ********* *** be ********** ********* ** ************* ********* ********** ******** are *************** ******** *** ****** ******* In ******* with ********** problems * ******* *** *** a ********** ******** ***** is a ********** decision **** can ** ******* ** * ******* approach ******** **** on ***** types ** ********** ********** a * ********* ** * ****** ** interrelated ********** steps that *** ** **** ** respond to * ********** problem * * ****

    ** ** ******** ********* that ***** ******** what they *** ** ****** do c * policy ** a ********* *** ****** decisions Unstructured ******** *** problems that are *** ** unusual and *** ***** information ** ********* ** incomplete These ******** *** best handled ** * nonprogrammed ******** **** **

    * ****** ******** **** requires *

    ********** solution ** ****** ****** ** *** ************** ********* ******** deal **** often with ********* ************ problems and **** ************* ********* ** ********** ** resolve ***** problems *** ********** Lower-level ******** ****** routine

    ********* ***** programmed ********* *************** ********** Decision *** ** made under ********** ** certainty *********** and **** ********* ** a ********* ** ***** * ******* can **** ******** decisions because *** ******** *** ***** Few ********** decisions *** **** ***** *** condition ** ********* **** ****** is the ********* ** **** in ***** the decision ***** is **** ** ******** the ********** ** ******* ******** *********** ** a situation ** which the decision ***** ** *** certain *** cannot **** **** ********** *********** estimates ********** ********

    **

    ************ ** **** a ********* the choice ** *********** is influenced ** the ******* ****** ** information ********* ** the decision ***** It’s also ********** ** *** ************* orientation ** the ******** ***** 1) ** ********** *******

    **** ****** a maximax ****** ********** *** ******* ******** ****** ** * pessimistic manager will pursue a ******* ****** ********** *** minimum ******** payoff ** *** ******* who ******* ** ******** the ******* regret **** ***

    *** * *******

    ****** *************** ******* Managers **** different styles ** making decisions and ******* problems *** *********** ******** that ****** ****** ***** two ********** in *** *** they ******** ******** ****** *** ********* is ** ****************** *** ** thinking—rational ** *********

    *** ***** ** *** individual’s tolerance for ******************* or **** Diagramming ***** two ********** **** ** * ****** ******* four different ***************

    ****** * *** directive ***** ** characterized ** *** tolerance *** ambiguity *** * ******** *** ** ******** b The analytic ***** ** *** ************* ** * **** ********* *** ********* *** a ******** *** ** ********* * The ********** style is characterized ** * **** ********* for ********* and ** ********* way of ******** *

    *** ********** style ** ************* by * *** ********* *** ********* *** ** ********* way ** thinking ** ******* **** ******** have both * ******** ***** *** ********* ****** **** **** ******** ******* almost *********** ** their dominant ***** *** others ***** more ******** *********

    on *** particular ********* *************** ****** *** ******* Managers *** ********* ****** *** ************ ** ************ ************ ** ****** ***** decision making Some ** ******** making biases and ****** are: * Overconfidence **** ****** when ******** ****** **** ** think **** **** **** more **** **** ** ** hold unrealistically ******** ***** of ********** *** ***** *********** * ********* ************* **** *********

    ******** ****** *** **** ** **** immediate rewards *** avoid ********* ***** * *** ********* ****** ********* **** ******** ****** ****** ** initial *********** ** * ******** point and **** **** *** **** ** adequately ******

    *** ********** information * Selective ********** **** occurs **** ******** ****** selectively ******** and ********* ****** ***** on ***** ****** *********** 5 Confirmation bias ****** when ******** ****** **** *** *********** **** ********* ***** past choices and

    ******** information **** contradicts ***** **** ********* 6 ******* bias ****** **** ******** ****** select *** ********* ******* aspects ** * ********* ***** ********* others * ************ bias ** **** **** ******** makers

    **** ** remember events **** are *** **** ****** *** ***** ** their ****** 8 ******** ****** *** show representation **** ****** the likelihood ** ** *****

    ***** ** *** closely ** ********* ***** ****** ** **** ** events 9 ********** bias ********* the ****** **** ******** ****** try ** create ******* out ** ****** events ** The **** ***** ***** ** **** * ******** ***** forgets **** ******* ******* ****** ******* *** **** ******* ** ******** **** costs *** decision ***** ****** ****** them ** ********* choices *** ********** ******* ** **** expenditures ****** than ** ****** ************ 11 Self-serving bias is ********* by decision makers *** *** ***** ** **** credit for their successes and ***** ******* ** outside ******* 12 ********* **** is *** ******** *** ******** makers ** ******* ******* once *** ******* ** ***** **** they ***** **** ********** ********* *** ******* Chapter * *********** of ******** ******** is one ** *** **** functions ** ********** Planning involves ******** *** ******************** ***** establishing ** ******* ******** *** achieving ***** ***** *** ********** plans *** organizational **** ********** The **** ******** as **** ** **** ******* ****** to formal ******** ******** of ******** ******** ****** * number of *********** ******** * Planning gives ********* ** ******** *** *********** of ** ************ 2 ******** ******* *********** * Planning minimizes waste *** uncertainty 4 ******** *********** ***** ** ********* **** ** controlling Planning *** Performance ******** ************* **** use ****** ******** ** not ****** outperform ***** that ** *** plan **** ******* **** positive relationships between ******** *** *********** ********* ******** *** ************** **** a ******* **** ** high *********** than **** *** ****** ** ******** done ******* have ***** **** **** ****** planning *** *** led ** ****** performance the ******** *********** ** often *** ****** *** **** ** ***** *** ***** ** ******** ******** ** ***** ****** *** *******

    ********** ******** because

    ** *********** the *****

    *** *** other ********* ******** ******** *** ********* ********* goals *** plans ***** (often ****** *********** *** desired ******** *** individuals groups ** ****** organizations ***** of ***** a ********* ***** versus ********* goals ********* ***** related ** the ********* *********** ** ***

    ************ ***** strategic goals

    *** related ** ***** areas ** ** ************* *********** * ****** ***** ****** **** ****** ****** ***** are ******** ********** ** **** an ************ **** *** **** it wants *** various ************ to ******* its ***** *** Real

    ***** *** those that

    ** ************ ******** ******* ** ******* ** *** ******* ** *** members ***** of Plans ***** *** ** ********* by their ******* **** ***** *********** and ********* ** use o ** *** ***** of ******* ***** can ** ********* ** operational plans ********* ***** (long-term ****** *** ***** **** ***** ** the entire ************ establish *** organization’s ******* goals *** seek ** position

    *** organization in ***** ** its *********** Operational *****

    *********** ****** *** ***** **** ******* *** ******* ** how *** ******* ***** *** ** be ******** * ** *** ***** ** **** ***** ***** ***

    ** ********** ** long-term plans ********* ***** are plans that cover *** **** **

    less ********* ***** ***

    ***** **** * **** ***** ****** ***** years o On *** ***** of *********** ***** *** ** ******** ** *********** ***** ******** plans *** ***** **** *** ******* *******

    *** ***** no **** for **************

    *********** ***** *** ******** ***** **** *** *** ******* ********** o ** *** ***** of ********* ** *** ***** *** ** ********** ** ******** ***** * single-use **** is * ******** **** ************ ******** to **** the ***** ** *

    ****** situation ******** ***** *** ******* ***** **** ******* ******** *** ********** ********* repeatedly Approaches to ************ *****

    ***** can be *********** ******* *** process ** *********** **** ******* or through MBO *********** ** objectives) *********** goal ******* ** ** ******** to setting goals in which ***** *** set ** the top ***** ** the ************ *** **** ****** **** subgoals *** each level of *** ************ *********** **** ******* ******* **** top ******** **** **** ** **** *******

    ** their ability ** *** *** ********** picture” ********* *** ** **** to **** *** ***** for their particular area ** ************** **** *********** approach ******** that ***** **** be made **** ******** ** **** ****

    **** ** ***** ****** ** *** ************ ** striving ** achieve specificity ******* ********** sometimes **** clarity *** ***** **** goals set at * ****** ***** in *** **** *** hierarchy ** organizational ***** ** ******* ******* **

    forms ** ********** ******** chain—an ********** network ** goals ** ***** the ************** ** goals ** *** ***** serves ** the ***** for achieving *** goals or **** ** *** **** level ********** ** ********** ***** ** * process ** ******* ******** *********** ***** and

    ***** ***** ***** ** evaluate

    ******** performance ******* of ****** MBO programs ******* **** *** can increase ******** *********** *** ************** ************ *******

    *** ********** ********** *** *********** *** ********* contributions ** *** ******* ** an *** program *** ********* steps *** ******** ** a ******* *** program: * The ************* ******* objectives *** strategies *** formulated ***** objectives *** ********* ***** ********** *** departmental ****** **** managers *************** set specific ********** for ***** ***** **** ***** ********* * Specific objectives are collaboratively *** **** *** ********** members

    ****** plans ******** how ********** *** to ** achieved *** specified *** ****** upon by ******** *** employee *** ****** ***** *** ************ * ******** ****** objectives ** ************ ******** *** feedback is ********* * ********** *********** of ********** ** reinforced by *********** based rewards ******* an ************ **** * more *********** approach ** ************ ********** **** **** **** of MBO or has its own approach ******** **** ****** ********** before **** *** effectively *** *********** complete ***** ******** activities *************** ** *************

    Goals * Written in terms ** ******** * ********** *** ************ * Clear ** ** a **** frame * *********** *** attainable 5 ******* ****

    * ************ ** all ************** ******* **** ***** ** Goals ******* * ****** *** organization’s mission **** purpose ** the ************* * ******** available ********* * Determine *** ***** ************ ** **** input **** ****** * *****

    down *** goals and *********** **** ** *** ***

    need to **** * Review results and ******* ***** are

    ***** met **** ******* ** ****** ********** ***** The ******* ** ********** *****

    ** influenced ** ***** *********** ******* and by *** **********

    ******** approach **** ** *** ************ ***** *********** ******* ** ******** are * *************** level ** *** ************* ***********

    ******** usually ********* *** ******** **********

    ** *********** managers ** ******** **** up through *** ****** **

    *** organization ***** ******** ******* more strategy ********* ****** of *************

    ************ *** ******* the environmental *********** the **** directional ***** ****** ** **** ******** ****** ** *** short **** **** uncertainty ** high ***** ****** ** ******** but flexible ******** must ** ******** ** ****** ***

    ***** ***** ** **** **

    abandon ***** plans ** ********** ** ****** of ****** ************ ********* ** the ********** ******* plans ****** extend *** ****** ** **** ***** *********** **** ***** ******** for *** **** **

    *** *** ***** * **** ****** ** inefficient and *********** Approaches ** ******** ** the *********** ******** ******** was done ******** ** ********* ******** who **** ***** assisted ** * formal planning department ******* ******** ** ******** ** to involve **** members ** *** ************ ** *** ******** ******* ** **** approach plans are *** ****** ****

    **** *** *****

    ** *** **** *** *** developed ** ************** ******* ** ******* levels to meet ***** ******** ***** ********** ** Planning Although ********

    is ** ********* managerial ******** **** **********

    ***

    **** major ********* **** been directed against planning: * ******** *** ****** ******** * Plans *********** ** developed for * ******* *********** * ****** ***** *********** ******* intuition *** creativity * ********

    ******* managers’ ********* ** ************* *********** not ** **************** survival ****** ******** ********** success which *** **** ** ******* *** external environment ** ********** changing Therefore ******** ****** ******* ***** that *** specific *** ******** ******** must **** ********* that planning ** ** ******* process *** they should **

    *******

    ** ****** directions if ************* ********** ******* Flexibility ** ************ ********* Managers **** remain ***** ** environmental ******* **** ***** impact *** ********* ************** ** ***** *** **** **** be ******** ** **** changes ** ******

    ******* * ********* ********** The ******* day **** is filled **** ******** ** ******** organizational ********** **** Mergers Strategic ********* ********** ********* and ****** expansion This ******* ******** *** strategic ********** ******* as ** ******* ** the planning ******** Managers must ********* ******** ***** organization’s ******** *** ******** environments as they ******* ********* ***** **** should **** a ********** ***** ** ********* *** environment ********* ***** ******************** *********

    *** ********** *********** ************* that would give the ************ a *********** advantage *** ************* ***** ******** **** ***** planning The value **

    ******** strategically *** ** important impact

    on ************ performance ********* ********** ** **** ******** ** to

    ******* *** ******************** strategies ********* management ******** *** ****

    ** *** ***** ********** functions—planning organizing ******* and *********** Strategic ********** *** a

    ** ********* for organizations ** ** *** * significant ****** **

    *** well ** ************ ******** ** ************* ******** ***** ************* of all types and ***** **** ****** ********** ******** ********** ************* companies are ******** ** diverse divisions ***** functions *** work activities that **** ** *********** ********* ********** ** involved in many ** *** decisions that managers **** The ********* ********** process is a six-step process **** *********** ********* ******** ************** and evaluation * *********** *** ******************** *******

    ******* Objectives ***

    *********** ***** ************

    needs * ******* ***** is a ********* ** *** ******* of ** ************ *** ******* ********* addresses *** ********* **** ** *** organization’s ****** *** ***** in ********* *** ************ **** ******** *** ******* objectives ***

    ********** as **** * ******** Analysis: ******** ** ***** organization need ** ******* ** ******** ******** Influential ******* **** ** competition ******* legislation *** ***** ****** *** included ** *** external environment After ********* *** ******** *********** managers must ****** **** **** have ******* in terms ** opportunities *** ******* ************* *** ******** ****** ** external ************* ******** ******* *** ********

    trends ** environmental ******* ******* ** ********* resources *** ************ the **** external *********** *** ******* ************* to *** ************ *** pose ******* to ******* *

    ******** Analysis: Internal ******** ****** **** to a clear ********** ** *** organization’s ********* *** ************ *** activities the ************ **** well ** any ****** ********* that ** has are ****** ********* Weaknesses *** activities the ************ **** *** ** **** or ********* ** ***** *** **** *** possess *** organization’s ***** ************** skills *** ************ **** determine *** *********** weapons *** *** ******************** **** competencies Organizational ******* ** important ** internal ********* *** *************** culture *** ******* **

    *****

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    principles_of_management_notes.pdf

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