MGMT 1P93 – FALL 2020 - INDIVIDUAL ASSIGNMENT # 3 INSTRUCTOR JACQUELINE GLENNEY Assignment # 3 is designed with these purposes in mind: 1. Allow students the opportunity to become familiar with the mission statement of Brock University. 2. Allow students the opportunity to reflect on the university through the application of a strategic planning tool. 3. Allow students the opportunity to put decision-making into practice when deciding which question/activity of this assignment to complete. 4. Provide students the opportunity to personally reflect on the material presented in Lesson Three. 5. Stress the importance of following instructions, adhering to deadlines and proof-reading work for accuracy in spelling, grammar and punctuation prior to submission. To complete this assignment, you will need to do the following: Review the material covered in Chapter # 6 and Chapter # 7 and complete either of the following two activities: 1. Access the Mission Statement of Brock University. Indicate how effective you think the mission statement is by indicating if you think it answers the five basic questions of a good mission statement according to the material in Chapter # 6 of your textbook. Feel free to use “direct quotes of parts of the mission statement” in order to be clear in your responses. Please ensure that you specifically address each of the five basic questions. OR 2. Conduct a (mini) SWOT analysis of Brock University by providing two strengths, two weaknesses, two opportunities and two threats. Please ensure that along with the statement of each SWOT point, you provide your rationale or reasoning along with each point. Using the Header Function, provide your Name (First and Last), Student Number, Course Code, Section Number and Assignment Title at the top of the page. Please ensure that you specify your assignment title as either: Assignment # 3 – Brock University Mission Statement Analysis or Assignment # 3 – Brock University SWOT Analysis. Ensure your assignment is no longer than one page, computer generated, single-spaced, error free and submitted in MS Word file format. Do NOT include a cover page. Do NOT include a reference page. Please use either Arial or Times New Roman font style using font size 10, 11 or 12. Submit to the Assignment # 3 Tab on Sakai by the deadline of 11:55PM on Sunday October 25, 2020. Your assignment will be graded based on the quality of your responses to the question above, the proper application of course concepts and the ability to write in full-sentence structure with minimal errors in spelling/grammar and the formatting of your document in a professional manner. Late assignments will receive a grade of ZERO. The Nature of Management Chapter 6 ©Steve Allen/ Getty Images © 2020 2020 McGraw-Hill McGraw-Hill Education Education Limited Limited © The Importance of Management Management • A process designed to achieve an organization’s objectives by using its resources effectively and efficiently in a changing environment • Effectively means having the intended result • Efficiently means accomplishing objectives with a minimum of resources Managers • Individuals in organizations who make decisions about use of resources • Use planning, organizing, staffing, directing and controlling to reach organizational objectives © 2020 McGraw-Hill Education Limited 2 The Importance of Management Staffing • Hiring people to carry out the work of the organization • Downsizing Acquiring Suppliers • Ensure products are made available to customers • Maximizes efficiencies and provides creative solutions Financial Resources Required • Needed to pay for essential activities © 2020 McGraw-Hill Education Limited 3 Figure 6.1 The Functions of Management Access the text alternative for these images. © 2020 McGraw-Hill Education Limited 4 Management Functions Planning • Process of determining the organization’s objectives and deciding how to accomplish them • Mission, Goals and Objectives • Several types of plans • Strategic plans, Tactical plans and Operational plans • Crisis management or contingency planning 5 © 2020 McGraw-Hill Education Limited Management Functions Contingency Planning Crisis Management Planning for the most harmful and most probable what if events Methods for dealing with emergencies that have already occurred • How to restart a business after a natural disaster? • How to respond to a competitor’s price increase? • How to react to government regulations imposed on our industry? • Who is in charge in different kinds of circumstances? • What efforts are in place to respond to the event? • How are crisis management teams deployed? 6 © 2020 McGraw-Hill Education Limited Strategic Planning Tools SWOT Analysis (Firm) • Strengths, weaknesses, opportunities and threats Porter’s Five • Existing rivalry, threat of new entrants and substitute products and bargaining Forces Framework power of buyers and suppliers (Industry) PEST(EL) Analysis (MacroEnvironment) • Political, economic, social, technological, environmental and legal concerns 77 © 2020 McGraw-Hill Education Limited Management Functions Organizing • Structuring of resources and activities to accomplish objectives in an efficient and effective manner • Helps create synergy • Establishes lines of authority • Improves communication • Helps avoid duplication of resources • Can improve competitiveness by speeding up decision making 8 © 2020 McGraw-Hill Education Limited Management Functions Directing or Leading • Motivating and leading employees to achieve organizational objectives • Telling employees what to do and when to do it by using deadlines • Determining and administering rewards and recognition • Motivate employees by providing incentives • Asking workers to contribute ideas 9 © 2020 McGraw-Hill Education Limited Management Functions Controlling • Process of evaluating and correcting activities to keep the organization on course • Consists of five activities: 1. Measuring performance 2. Comparing present performance with standards or objectives 3. Identifying deviations from standards 4. Investigating causes of deviations 5. Taking corrective action when necessary 10 © 2020 McGraw-Hill Education Limited Levels of Management Top Management • Includes the president and other top executives of a business, such as chief executive officer (CEO), chief financial officer (CFO), and chief operations officer (COO), who have overall responsibility for the organization • Spend most of their time planning and making strategic decisions • Compensation committees work with directors and CEOs to keep pay in line with performance • Workforce diversity is good for workers and bottom line 11 © 2020 McGraw-Hill Education Limited Levels of Management Middle Management • Responsible for tactical planning that implements the general guidelines established by top management • Responsibility is more narrowly focused • Involved in the specific operations of the organization and spend more time organizing First-Line Management • Responsible for implementing the plans established by middle management • Direct workers’ daily performance • Spend most of their time directing and controlling 12 © 2020 McGraw-Hill Education Limited Table 6.4 Areas of Management Financial Manager Production and Operations Manager Human Resources Manager Marketing Manager • Focus on obtaining the money needed for the successful operation of the organization and using that money in accordance with organizational goals. • Develop and administer the activities involved in transforming resources into goods, services, and ideas ready for the marketplace. • Handle the staffing function and deal with employees in a formalized manner. • Responsible for planning, pricing, and promoting products and making them available to customers through distribution. Information Technology (IT) Manager • Responsible for implementing, maintaining, and controlling technology applications in business, such as computer networks. Administrative Manager • Manage an entire business or a major segment of a business; do not specialize in a particular function. 13 © 2020 McGraw-Hill Education Limited Skills Needed by Managers Technical Expertise Conceptual Skills Analytical Skills Human Relations Skills 14 © 2020 McGraw-Hill Education Limited Leadership Leadership • Ability to influence employees to work toward organizational goals Leadership Styles • Autocratic • Democratic • Free-rein • Authentic © 2020 McGraw-Hill Education Limited 15 Leadership Employee Empowerment • Occurs when employees are provided with the ability to take on responsibilities and make decisions about their jobs • Participative decision making • Leadership in teams 16 © 2020 McGraw-Hill Education Limited Decision Making 1. Recognizing and Defining the Decision Situation • Situations may be positive or negative • Situations calling for small-scale decisions occur without warning • Large-scale decisions generally occur after some warning signs • Once a situation is recognized, management must define it 17 © 2020 McGraw-Hill Education Limited Decision Making 2. Developing Options • A list of possible courses of actions should include both standard and creative plans • Brainstorming 3. Analyzing Options • Management must look at the practicality and appropriateness of each option • Does the proposed option adequately address the situation? 18 © 2020 McGraw-Hill Education Limited Decision Making 4. Selecting the Best Option • Often a subjective procedure • The best option always relates to analyzing risks and trade-offs 5. Implementing the Decision • Can be fairly simple or very complex • Prepare for unexpected consequences 6. Monitoring the Consequences • Did the decision accomplish the desired result? 19 © 2020 McGraw-Hill Education Limited Management in Practice Management is not an exact process Managers spend time on: • Working with others • Establishing and updating an agenda of goals and implementation plans • Networking • Confronting complex and difficult challenges of the business world 20 © 2020 McGraw-Hill Education Limited Organization, Teamwork, and Communication Chapter 7 ©Steve Allen/ Getty Images © 2020 2020 McGraw-Hill McGraw-Hill Education Education Limited Limited © Organizational Culture A firm’s shared values, beliefs, traditions, philosophies, rules, and role models for behaviour • Formal culture • Mission statement • Codes of ethics • Memos, manuals, and ceremonies • Informal culture • Dress codes and work habits • Employee engagement • Creative and enjoyable work place 2 © 2020 McGraw-Hill Education Limited Developing Organizational Structure Organizational structure • The arrangement of positions within an organization • Structure is developed when: • Managers assign work tasks to specific individuals or groups • Coordinate activities to reach the firm’s objectives • Organizational Charts • Visual display of the organization’s structure 3 © 2020 McGraw-Hill Education Limited Assigning Tasks Specialization • Divides labour into small, specific tasks • Assigns employees to do a single task • Reasons to specialize: • Efficiency • Workers do not waste time shifting from one job to another • Training is easier • Overspecialization can have negative effects 4 © 2020 McGraw-Hill Education Limited Assigning Tasks Departmentalization • Groups jobs into working units called departments, units, groups, or divisions • Common ways to departmentalize: • By function • By product • By geographic region • By customer 5 © 2020 McGraw-Hill Education Limited Functional Departmentalization The grouping of jobs that perform similar functional activities, such as finance, manufacturing, marketing, and human resources Access the text alternative for these images. © 2020 McGraw-Hill Education Limited 6 Product Departmentalization The organization of jobs in relation to the products of the firm Access the text alternative for these images. © 2020 McGraw-Hill Education Limited 7 Geographic Departmentalization The grouping of jobs according to geographic location, such as state or province, region, country, or continent Access the text alternative for these images. © 2020 McGraw-Hill Education Limited 8 Customer Departmentalization The grouping of jobs around the needs of various types of customers Access the text alternative for these images. © 2020 McGraw-Hill Education Limited 9 Assigning Responsibility Delegation of Authority • Not only giving tasks to employees, but empowering them to do whatever is necessary to carry out those tasks • Responsibility • Accountability 10 © 2020 McGraw-Hill Education Limited Assigning Responsibility Degree of Centralization • Extent to which authority is delegated throughout an organization • Centralized organizations • Authority is concentrated at the top; little decision-making delegated to lower levels • Decentralized organizations • Decision-making authority delegated as far down the chain of command as possible 11 © 2020 McGraw-Hill Education Limited Assigning Responsibility Span of Management • The number of subordinates who report to a particular manager • A wide span of management exists when a manager directly supervises a very large number of employees • A narrow span of management exists when a manager directly supervises only a few subordinates 12 © 2020 McGraw-Hill Education Limited Assigning Responsibility Organizational Layers • The levels of management in an organization • A company with many layers is considered tall • Span of management is narrow • A company with few layers is considered flat • Span of management is wide 13 © 2020 McGraw-Hill Education Limited Forms of Organizational Structure Line Structure • Simplest organizational structure • Direct lines of authority extend from top management to employees at the lowest levels Line-and-Staff Structure • Traditional line relationship between superiors and subordinates • Specialized managers assist line managers © 2020 McGraw-Hill Education Limited 14 Forms of Organizational Structure Multidivisional Structure • Organizes departments into larger groups called divisions • Permits delegation of decision-making authority • Inevitably creates work duplication Matrix Structure • Sets up teams from different departments; creates two or more intersecting lines of authority • Provides flexibility, enhanced cooperation, creativity • Generally expensive and complex 15 © 2020 McGraw-Hill Education Limited The Role of Groups and Teams in Organizations Group • Two or more individuals who communicate with one another, share a common identity, and have a common goal Team • Small group whose members have complementary skills; have a common purpose, goals and approach; and hold themselves accountable • Virtual teams 16 © 2020 McGraw-Hill Education Limited The Role of Groups and Teams in Organizations Committees Task Forces Teams • Permanent, formal group that performs a specific task • Temporary group of employees responsible for bringing about a particular change • Membership based on expertise rather than position • Project teams • Product-development teams • Quality-assurance teams • Self-directed work teams 17 © 2020 McGraw-Hill Education Limited Communicating in Organizations Formal and Informal Communication • Formal communication channels • Intentionally defined • Designed by the organization • Informal organization • Consists of friendships and other nonwork social relationships • The grapevine is the most significant informal type of communication 18 © 2020 McGraw-Hill Education Limited Communicating in Organizations Monitoring Communications • Technological advances and increased use of electronic communication have made monitoring communications in the workplace necessary • Failure to monitor employees’ use of technology can be costly • Artificial intelligence (AI) is significantly impacting workplace monitoring, benchmarking, and understanding how employees feel about their jobs © 2020 McGraw-Hill Education Limited 19 Communicating in Organizations Improving Communication Effectiveness • Encourage employees to provide feedback, even if it is negative • Encourage managers to listen • Avoid interruptions • Communicate email policies throughout the organization 20 © 2020 McGraw-Hill Education Limited
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