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ACCA – F1 Lesson One Part I.

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1 ACCA – F1 Lesson One Part I

2 Lesson Outline Discussion of plan of study Topics
Managers and Management Organisation and the importance of Management Different Approaches to Management

3 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Who Are Managers? Manager Someone who coordinates and oversees the work of other people so that organizational goals can be accomplished. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

4 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Classifying Managers First-line Managers (Supervisors, Team Leaders) Individuals who manage the work of non-managerial employees. Middle Managers Individuals who manage the work of first-line managers. Top Managers Individuals who are responsible for making organization-wide decisions and establishing plans and goals that affect the entire organization. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

5 Exhibit 1–2 Managerial Levels
Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

6 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
What Is Management? Management involves coordinating and overseeing the work activities of others so that their activities are completed efficiently and effectively. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

7 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
What Is Management? Managerial Concerns Efficiency “Doing things right” Getting the most output for the least inputs Effectiveness “Doing the right things” Attaining organizational goals Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

8 Exhibit 1–3 Effectiveness and Efficiency in Management
Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

9 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
What Managers Do? Three Approaches to Defining What Managers Do. Functions they perform. Roles they play. Skills they need. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

10 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
What Managers Do? Functions Manager’s Perform Planning Defining goals, establishing strategies to achieve goals, 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. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

11 Exhibit 1–4 Management Functions
Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

12 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
What Managers Do? Roles Manager’s Play Roles are specific actions or behaviors expected of a manager. Henry Mintzberg identified 10 roles grouped around interpersonal relationships, the transfer of information, and decision making. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

13 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
What Managers Do? Management Roles (Mintzberg) Interpersonal roles Figurehead (Representative), leader (Provides leadership – guidance and way forward), liaison (go between – coordinator) Informational roles Monitor (Controller) , disseminator (provision of information and work), spokesperson Decisional roles Entrepreneur , disturbance handler (resolving conflicts) , resource allocator, negotiator (mediating to achieve consensus) Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

14 What Managers Do (Mintzberg)
Actions thoughtful thinking practical doing Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

15 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Exhibit Mintzberg’s Managerial Roles Interpersonal Roles • Figurehead • Leader • Liaison Informational Roles • Monitor • Disseminator • Spokesperson Decisional Roles • Entrepreneur • Disturbance handler • Resource allocator • Negotiator Adapted from Mintzberg, Henry, The Nature of Managerial Work, 1st Edition, © 1980, pp. 93–94.. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

16 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
What Managers Do? Skills Managers Need 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 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

17 Exhibit 1–6 Skills Needed at Different Management Levels
Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

18 How The Manager’s Job Is Changing
The Increasing Importance of Customers Customers: the reason that organizations exist Managing customer relationships is the responsibility of all managers and employees – CRM (Customer Relationship Management) Consistent high quality customer service is essential for survival. Innovation Doing things differently, exploring new territory, and taking risks Managers should encourage employees to be aware of and act on opportunities for innovation. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

19 Exhibit 1–8 Changes Affecting a Manager’s Job
Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

20 What Is An Organization?
An Organization Defined A deliberate arrangement of people to accomplish some specific purpose (that individuals independently could not accomplish alone). Common Characteristics of Organizations Have a distinct purpose (goal) Composed of people Have a deliberate structure Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

21 Exhibit 1–9 Characteristics of Organizations
Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

22 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Why Study Management? The Value of Studying Management The universality of management Good management is needed in all organizations. The reality of work Employees either manage or are managed. Rewards and challenges of being a manager Management offers challenging, exciting and creative opportunities for meaningful and fulfilling work. Successful managers receive significant monetary rewards for their efforts. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

23 Exhibit 1–10 Universal Need for Management
Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

24 Exhibit 2–1 Major Approaches to Management
Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

25 Major Approaches to Management
Classical Quantitative Behavioral Contemporary Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

26 Scientific Management
Fredrick Winslow Taylor The “father” of scientific management Published Principles of Scientific Management (1911) The theory of scientific management Using scientific methods to define the “one best way” for a job to be done: Putting the right person on the job with the correct tools and equipment. Having a standardized method of doing the job. Providing an economic incentive to the worker. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

27 Exhibit 2–2 Taylor’s Scientific Management Principles
Develop a science for each element of an individual’s work, which will replace the old rule-of-thumb method. Scientifically select and then train, teach, and develop the worker. Heartily cooperate with the workers so as to ensure that all work is done in accordance with the principles of the science that has been developed. Divide work (Division of Work) and responsibility almost equally between management and workers. Management takes over all work for which it is better fitted than the workers. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

28 General Administrative Theory
Henri Fayol Believed that the practice of management was distinct from other organizational functions Developed principles of management that applied to all organizational situations Max Weber Developed a theory of authority based on an ideal type of organization (bureaucracy) Emphasized rationality, predictability, impersonality, technical competence, and authoritarianism Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

29 Exhibit 2–3 Fayol’s 14 Principles of Management
Division of work Authority Discipline Unity of command – Only one person gives instructions Unity of direction – On organisational purpose (mission) Subordination of individual interests to the general interest – Esprit De Corps (Act as One Body) Remuneration Centralization Scalar chain Order (systems and procedures) Equity (balance of work) Stability of tenure of personnel Initiative Esprit de corps

30 Two sectors – Private Sector Public Sector Not for profit Sector
Public Limited Companies Private Limited Companies Sole Proprietorships Partnerships Cooperative societies and mutual organisations Public Sector Government departments and corporations Local authorities Not for profit Sector Charitable organisations Unions

31 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
The Systems Approach System Defined A set of interrelated and interdependent parts arranged in a manner that produces a unified whole. Basic Types of Systems Closed systems Are not influenced by and do not interact with their environment (all system input and output is internal). Open systems Dynamically interact to their environments by taking in inputs and transforming them into outputs that are distributed into their environments. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

32 Exhibit 2–7 The Organization as an Open System
Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

33 Implications of the Systems Approach
Coordination of the organization’s parts is essential for proper functioning of the entire organization. Decisions and actions taken in one area of the organization will have an effect in other areas of the organization. Organizations are not self-contained and, therefore, must adapt to changes in their external environment. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

34 The Contingency Approach
Contingency Approach Defined Also sometimes called the situational approach. There is no one universally applicable set of management principles (rules) by which to manage organizations. Organizations are individually different, face different situations (contingency variables), and require different ways of managing. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall

35 Exhibit 2–8 Popular Contingency Variables
Organization size As size increases, so do the problems of coordination. Routineness of task technology Routine technologies require organizational structures, leadership styles, and control systems that differ from those required by customized or non-routine technologies. Environmental uncertainty What works best in a stable and predictable environment may be totally inappropriate in a rapidly changing and unpredictable environment. Individual differences Individuals differ in terms of their desire for growth, autonomy, tolerance of ambiguity, and expectations. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall


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