Lecture 2
Basic activity of mgmt, Mgr at every level do planning Determined through objectives of organization & establishment of appropriate strategies for achieving them. Strategy provides- with direction, A sense of unity of purpose – integrative blueprint for organization Strategy serves to obtain a match b/w external environment & internal capabilities. intended to achieve a sustained competitive advantage over competitors. Planning involves selecting “missions & objectives” & actions to achieve them. Fall 20132
Involves establishing intentional structure of roles for people to fill in organization Organizing involves turning plans into actions After developing strategy, & plans to achieve the objective they need to develop an organization to accomplish objectives Fall 20133
Measuring & correcting individual & organizational performance to ensure that events conform to plans. 3 elements: Establishing Standard of Performance Info that indicates Deviation b/w actual versus established standards Actions to Correct performance that doesn’t meet standards Facilitates accomplishment of plans. Fall 20134
Influencing people- so that they will contribute to organization & group goals Predominantly, to do with interpersonal aspect of managing In project Most important problems arise form people – their desires & attitudes, their behavior as individuals & in groups Effective project mgrs also need to be effective leaders. Leadership implies follower-ship & people tend to follow those who offer means of satisfying their own needs, wishes, & desires. Fall 20135
The Management Process Planning Setting performance objectives & deciding how to achieve them Controlling Measuring performance & taking action to ensure desired results Leading Inspiring people to work hard to achieve high performance Organizing Arranging tasks, people, & other resources to accomplish the work Fall 20136
Chapter 2: Drucker, Peter Ferdinand. Management: Tasks, Responsibilities, Practices. New York: Harper Collins, Fall 20137