Lecture 1

Evaluation Criteria:
Quizzes:10
Assignments/ Case Studies:10
Class Participation: 05
Project: 10
Mid Term Exam: 25
Final Exam: 40
Total: 100%
Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved
Introduction to Management
Management of what?
Need to study Management?
Organization: a deliberate arrangement of
people to accomplish some specific
purpose
Why do we study Management?
Who Is a Manager?
Manager: someone who coordinates and
oversees the work of other people so that
organizational goals can be accomplished
• Management involves coordinating and
overseeing the work activities of others so that
their activities are completed efficiently and
effectively.
Efficiency and Effectiveness
• Efficiency: doing things right

– getting the most output from the least amount
of input
• Effectiveness: doing the right things
– attaining organizational goals
Why are managers important?
Management Functions (Henri Fayol)
• Planning: Defining goals, establishing strategies
to achieve goals, and developing plans to
integrate and coordinate activities
• Organizing: Arranging and structuring work to
accomplish organizational goals
• Leading: Working with and through people to
accomplish goals
• Controlling: Monitoring, comparing, and
correcting work
Mintzberg’s Managerial Roles and a
Contemporary Model of Managing
• Roles: specific actions or behaviors expected of
and exhibited by a manager
• Mintzberg identified 10 roles grouped around
interpersonal relationships, the transfer of
information, and decision-making
Mintzberg’s Managerial Roles
Levels of Management
Traditionally structured organizations, managers can be classified as first-line, middle, or

top.
Classifying Managers
• First-Line Managers: manage the work of non-
managerial employees
• Middle Managers: manage the work of first-line
managers
• Top Managers: responsible for making
organization-wide decisions and establishing
plans and goals that affect the entire organization
Management Skills
• Technical skills
– Knowledge and proficiency in a specific field
• Human skills
– The ability to work well with other people
• Conceptual skills
– The ability to think and conceptualize about
abstract and complex situations concerning the
organization
Skills Needed at Different Managerial Levels
(Robert L. Katz)
Exhibit 1-6 shows the relationships of conceptual, human, and technical skills to managerial
levels.
Managerial Focus on Sustainability
• Sustainability: a company’s ability to achieve its
business goals and increase long-term
shareholder value by integrating economic,
environmental, and social opportunities into its
business strategies
• Triple bottom line model.
The Manager: Omnipotent or Symbolic?
• Omnipotent view: managers are directly
responsible for an organization’s success or
failure
• Symbolic view: much of an organization’s
success or failure is due to external forces outside
managers’ control
Managerial Constraints
• In reality, managers are neither all-powerful nor
helpless. But their decisions and actions are
constrained.
• External constraints come from the organization’s
environment and internal constraints come from
the organization’s culture
Introduction to Strategic Management
• It can be defined as the art and science of formulating,
implementing, and evaluating cross-functional decisions
that enable the organization to achieve its objectives.
• The term was coined in 1950’s, and became very famous
in 1960-70, with a dip in fame in 1980’s, and reviving again
in 1990’s
• Company’s game plan
• Well-thought selection of most appropriate course of action
among multiple alternatives
• No margin for errors
Key terms in Strategic management
• Competitive advantage
• Strategists
• Vision and Mission Statements
• Long-term objectives
• Strategy
• Annual objectives
• Policy
Competitive advantage
• A competitive advantage is the attribute that allows an
organization to outperform its competitors
• To have something that rivals don’t have
• Examples?
Strategists
• Individuals who are most important for the success or
failure of organizations
• E.g., CEO, President, owner, entrepreneur, chair of the
boards, chancellor, dean
• If strategists are flexible and adaptive to change, their
organization is also flexible and adaptive to change, and
vice versa. Why?
Vision and Mission Statements
Vision • Mission
• What do we want to • What is our business?
become?
• It charts the values and
• Very broad priorities of firm
• Relatively specific
Examples of vision and mission statements
(Apple)
• We believe that we are on the face of the earth to
make great products and that’s not changing.
VISION
• To bring the best user experience to its customers

through its innovative hardware, software, and
services
MISSION
Examples of vision and mission statements
(Google)
• “To organize the world’s
information and make it
universally accessible and
useful”
• “To provide access to the

world’s information in one click”
Long-term objectives and annual
objectives
• Specific results that an organization
seeks to achieve in pursuing its basic
mission
• Long-term means more than 1 year
• They should be measureable,
challenging, consistent and clear.
• Objectives can be set for overall
company, or for individual divisions
• Multiple annual objectives are required
to meet long-term objectives
Strategy
• Means through which long-
term objectives will be
achieved
• E.g., related or unrelated
diversification, forward or
backward integration and
retrenchment etc.
Policy
• Guidelines, rules and
procedures established to
support efforts to achieve
stated objectives
• They outline the organization’s
expectations of its employees
and managers
• Policies allow consistency and
coordination among the
departments

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Evaluation Criteria:

• Efficiency: doing things right

Traditionally structured organizations, managers can be classified as first-line, middle, or

• To bring the best user experience to its customers

• “To provide access to the

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