1. Lecture 2

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

3.  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

4.  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

5.  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

6. 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

7. Chapter 2: Drucker, Peter Ferdinand. Management: Tasks, Responsibilities, Practices. New York: Harper Collins, 1973. Fall 20137