Fluent Essays

Case Study: Decision-Making Process Terry likes to use humor in the workplace. However, Terrys jokes sometimes cross the line. You notice others, especially the two new employees, look uncomfortable with Terry‘s humors. When Kim, a newly hired employee, tells Terry, Im a bit uncomfortable with that remark, Terry replies, Don‘t be so uptight. Im just joking. It‘s who I am. Then you need to change, retorts Kim. • Is this an issue? Why or why not? • How do you feel Terry responded to Kims comment? • How do you feel Kim responded to Terrys response? • What do you think Kims impression of Terry is after this incident? • What do you think Kims impression is of the workplace? • What kind of workplace culture is established? • How else could this situation have been handled? • How would you feel as an outside observer on the scene? • Genders are not stated in the example. How might knowing the gender of Terry and Kim impact your answers? Rubric MGT-331 Case Study Rubric (1) MGT-331 Case Study Rubric (1) Criteria Ratings Pts This criterion is linked to a Learning OutcomeAnalysis of Questions 12 pts Excellent All questions were adequately answered to include detailed responses. 7.2 pts Good Some or all of the questions were adequately answered. However, some questions lacked details. 0 pts Poor A lot of questions were not answered and/or lacked details. 12 pts This criterion is linked to a Learning OutcomeGrammar 13 pts Excellent No spelling, punctuation, or grammatical errors. 7.8 pts Good Few spelling and punctuations errors, minor grammatical errors. 0 pts Poor Too many spelling, punctuation and grammatical errors that it inters with the meaning. 13 pts Total Points: 25 Principles of Management OpenStax Rice University 6100 Main Street MS-375 Houston, Texas 77005 To learn more about OpenStax, visit https://openstax.org. 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TABLE OF CONTENTS Preface 1 1 Managing and Performing 7 1.1 What Do Managers Do? 8 1.2 The Roles Managers Play 9 1.3 Major Characteristics of the Managers Job 12 2 Managerial Decision-Making 21 2.1 Overview of Managerial Decision-Making 23 2.2 How the Brain Processes Information to Make Decisions: Reflective and Reactive Systems 26 2.3 Programmed and Nonprogrammed Decisions 28 2.4 Barriers to Effective Decision-Making 31 2.5 Improving the Quality of Decision-Making 35 2.6 Group Decision-Making 45 3 The History of Management 55 3.1 The Early Origins of Management 58 3.2 The Italian Renaissance 61 3.3 The Industrial Revolution 61 3.4 Taylor-Made Management 63 3.5 Administrative and Bureaucratic Management 68 3.6 Human Relations Movement 71 3.7 Contingency and System Management 75 4 External and Internal Organizational Environments and Corporate Culture 81 4.1 The Organizations External Environment 84 4.2 External Environments and Industries 88 4.3 Organizational Designs and Structures 91 4.4 The Internal Organization and External Environments 103 4.5 Corporate Cultures 109 4.6 Organizing for Change in the 21st Century 111 5 Ethics, Corporate Responsibility, and Sustainability 119 5.1 Ethics and Business Ethics Defined 121 5.2 Dimensions of Ethics: The Individual Level 122 5.3 Ethical Principles and Responsible Decision-Making 125 5.4 Leadership: Ethics at the Organizational Level 129 5.5 Ethics, Corporate Culture, and Compliance 136 5.6 Corporate Social Responsibility (CSR) 139 5.7 Ethics around the Globe 143 5.8 Emerging Trends in Ethics, CSR, and Compliance 147 6 International Management 157 6.1 Importance of International Management 159 6.2 Hofstedes Cultural Framework 164 6.3 The GLOBE Framework 172 6.4 Cultural Stereotyping and Social Institutions 177 6.5 Cross-Cultural Assignments 183 6.6 Strategies for Expanding Globally 186 6.7 The Necessity of Global Markets 189 7 Entrepreneurship 207 7.1 Entrepreneurship 209 7.2 Characteristics of Successful Entrepreneurs 215 7.3 Small Business 219 7.4 Start Your Own Business 222 7.5 Managing a Small Business 231 7.6 The Large Impact of Small Business 234 7.7 The Small Business Administration 235 7.8 Trends in Entrepreneurship and Small-Business Ownership 237 8 Strategic Analysis: Understanding a Firm’s Competitive Environment 247 8.1 Gaining Advantages by Understanding the Competitive Environment 249 8.2 Using SWOT for Strategic Analysis 250 8.3 A Firms External Macro Environment: PESTEL 252 8.4 A Firms Micro Environment: Porters Five Forces 257 8.5 The Internal Environment 261 8.6 Competition, Strategy, and Competitive Advantage 266 8.7 Strategic Positioning 269 9 The Strategic Management Process: Achieving and Sustaining Competitive Advantage 279 9.1 Strategic Management 281 9.2 Firm Vision and Mission 281 9.3 The Role of Strategic Analysis in Formulating a Strategy 283 9.4 Strategic Objectives and Levels of Strategy 284 9.5 Planning Firm Actions to Implement Strategies 288 9.6 Measuring and Evaluating Strategic Performance 297 This OpenStax book is available for free at http://cnx.org/content/col28330/1.8 10 Organizational Structure and Change 305 10.1 Organizational Structures and Design 306 10.2 Organizational Change 313 10.3 Managing Change 318 11 Human Resource Management 339 11.1 An Introduction to Human Resource Management 340 11.2 Human Resource Management and Compliance 343 11.3 Performance Management 345 11.4 Influencing Employee Performance and Motivation 349 11.5 Building an Organization for the Future 354 11.6 Talent Development and Succession Planning 356 12 Diversity in Organizations 369 12.1 An Introduction to Workplace Diversity 370 12.2 Diversity and the Workforce 371 12.3 Diversity and Its Impact on Companies 382 12.4 Challenges of Diversity 386 12.5 Key Diversity Theories 391 12.6 Benefits and Challenges of Workplace Diversity 394 12.7 Recommendations for Managing Diversity 396 13 Leadership 407 13.1 The Nature of Leadership 408 13.2 The Leadership Process 410 13.3 Types of Leaders and Leader Emergence 415 13.4 The Trait Approach to Leadership 421 13.5 Behavioral Approaches to Leadership 424 13.6 Situational (Contingency) Approaches to Leadership 428 13.7 Substitutes for and Neutralizers of Leadership 433 13.8 Transformational, Visionary, and Charismatic Leadership 436 13.9 Leadership Needs in the 21st Century 440 14 Work Motivation for Performance 449 14.1 Motivation: Direction and Intensity 451 14.2 Content Theories of Motivation 454 14.3 Process Theories of Motivation 469 14.4 Recent Research on Motivation Theories 486 15 Managing Teams 497 15.1 Teamwork in the Workplace 498 15.2 Team Development Over Time 500 15.3 Things to Consider When Managing Teams 504 15.4 Opportunities and Challenges to Team Building 508 15.5 Team Diversity 510 15.6 Multicultural Teams 512 16 Managerial Communication 523 16.1 The Process of Managerial Communication 524 16.2 Types of Communications in Organizations 526 16.3 Factors Affecting Communications and the Roles of Managers 530 16.4 Managerial Communication and Corporate Reputation 533 16.5 The Major Channels of Management Communication Are Talking, Listening, Reading, and Writing 534 17 Organizational Planning and Controlling 549 17.1 Is Planning Important 550 17.2 The Planning Process 553 17.3 Types of Plans 559 17.4 Goals or Outcome Statements 563 17.5 Formal Organizational Planning in Practice 565 17.6 Employees Responses to Planning 569 17.7 Management by Objectives: A Planning and Control Technique 583 17.8 The Control- and Involvement-Oriented Approaches to Planning and Controlling 586 18 Management of Technology and Innovation 597 18.1 MTI—Its Importance Now and In the Future 600 18.2 Developing Technology and Innovation 606 18.3 External Sources of Technology and Innovation 608 18.4 Internal Sources of Technology and Innovation 610 18.5 Management Entrepreneurship Skills for Technology and Innovation 611 18.6 Skills Needed for MTI 612 18.7 Managing Now for Future Technology and Innovation 615 Index 659 This OpenStax book is available for free at http://cnx.org/content/col28330/1.8 Welcome to Principles of Management, an OpenStax resource. 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Preface Preface 1 About Principles of Management Principles of Management is designed to meet the scope and sequence requirements of the introductory course on management. This is a traditional approach to management using the leading, planning, organizing, and controlling approach. The table of contents of this book was designed to address two main themes. What are the variables that affect how, when, where, and why managers perform their jobs? What theories and techniques are used by successful managers at a variety of organizational levels to achieve and exceed objectives effectively and efficiently throughout their careers? Management is a broad business discipline, and the Principles of Management course covers many management areas such as human resource management and strategic management, as well behavioral areas such as motivation. No one individual can be an expert in all areas of management, so an additional benefit of this text is that specialists in a variety of areas have authored individual chapters. Finally, we all made an effort to present a balanced approach to gender and diversity throughout the text in the examples used, the photographs selected, and the use of both male (odd- numbered chapters) and female (even-numbered chapters) when referring to generic managers or employees. Pedagogical Foundation We have taken a structured approach in the writing of the chapters that reduces inconsistencies throughout and makes selecting topics to match the course syllabus easier for faculty. Exploring Managerial Careers. Each chapter starts with a profile that describes a manager and illustrates how the content of the chapter is vital for a successful managerial career. Consistent, integrated learning. Targeted learning outcomes are listed at the beginning of each chapter and then repeated throughout the chapter. The learning outcomes connect to the text and the additional resources that accompany Principles of Management. After reading each section, students can test their retention by answering the questions in the Concept Checks. Every learning goal is further reinforced by a summary at the end of the chapter. Hundreds of business examples to bring concepts to life. This book is designed to speak to the typical student. We have done a lot of research about student needs, abilities, experiences, and interests, and then we have shaped the text around them. We have used experiences both inside and outside the classroom to create a book that is both readable and enjoyable. We believe that the real applications found throughout every chapter set the standard for readability and understanding of key concepts. Learning business terminology, made easy. As students begin to study management, they will explore new words and concepts. To help them learn this language, we define each new term in the chapter, display the terms in bold, and offer a complete glossary at the end of the book. Applied Features Rather than provide a dry recitation of facts, we illustrate concepts with contemporary examples. In addition to the in-text examples, we have several boxed features that provide more extensive examples in areas of importance in today’s business environment. Each of the boxed features described below includes a series of critical thinking questions to prompt the student to consider the implications of each business strategy. Ethics in Practice. Ethics in Practice features demonstrate how businesses are responsible not only to the bottom line, but to providing goods and services in a responsible manner. Managing Change. The turbulent business climate requires companies to adapt their business strategies in response to a variety of economic, social, competitive, and technological forces. The Managing Change feature 2 Preface This OpenStax book is available for free at http://cnx.org/content/col28330/1.8 highlights how businesses have altered their business strategies in response to these forces. Catching the Entrepreneurial Spirit. This feature highlights the challenges and opportunities available in small businesses and other entrepreneurial ventures. Managerial Leadership. It is generally agreed that in a turbulent business climate leadership is an important function of management that helps to maximize efficiency and to achieve organizational goals. Leaders initiate action, motivate organizations, provide guidance, build morale, and create a sense of confidence within the organization and to outside stakeholders. Sustainability and Responsible Management. This feature highlights the knowledge, skills, tools, and self- awareness that are needed to become responsible managers. While the area of corporate social responsibility and sustainability has gained wide general support and commentary, these featured boxed items should provide the reader with insights of how managers can embed responsible practices in their careers. Activities and Cases That Put Knowledge to Work Principles of Management helps students develop a solid grounding in the skills that they can apply throughout their managerial careers. These skill-building activities and resources help build and polish competencies that future employers will value. Chapter Review Questions. These questions provide a broad set of challenging questions that students can use to assure themselves that they have mastered the chapter concepts. Management Skills Application Exercises. These activities at the end of each chapter present real-world challenges and provide assignment material for students to hone their business skills. Managerial Decision Exercises. These activities provide assignment material that challenge students’ decision-making processes. There are a variety of exercises for individual or team assignments. Critical Thinking Case. The Critical Thinking case in each chapter invites students to explore business strategies of various companies, analyze business decisions, and prepare comments. Additional Resources Student and Instructor Resources We’ve compiled additional resources for both students and instructors, including Getting Started Guides. Instructor resources require a verified instructor account, which you can apply for when you log in or create your account on openstax.org. Instructor and student resources are typically available within a few months after the book’s initial publication. Take advantage of these resources to supplement your OpenStax book. Comprehensive instructor’s manual. Each component of the instructor’s manual is designed to provide maximum guidance for delivering the content in an interesting and dynamic manner. The instructor’s manual includes an in-depth lecture outline, which is interspersed with lecture “tidbits” that allow instructors to add timely and interesting enhancements to their lectures. Test bank. With nearly 2,000 true/false, multiple-choice, fill-in-the-blank, and short-answer questions in our test bank, instructors can customize tests to support a variety of course objectives. The test bank is available in Word format. PowerPoint lecture slides. The PowerPoint slides provide images and descriptions as a starting place for instructors to build their lectures. Preface 3 Community Hubs OpenStax partners with the Institute for the Study of Knowledge Management in Education (ISKME) to offer Community Hubs on OER Commons—a platform for instructors to share community-created resources that support OpenStax books, free of charge. Through our Community Hubs, instructors can upload their own materials or download resources to use in their own courses, including additional ancillaries, teaching material, multimedia, and relevant course content. We encourage instructors to join the hubs for the subjects most relevant to your teaching and research as an opportunity both to enrich your courses and to engage with other faculty. To reach the Community Hubs, visit www.oercommons.org/hubs/OpenStax. Technology Partners As allies in making high-quality learning materials accessible, our technology partners offer optional low-cost tools that are integrated with OpenStax books. To access the technology options for your text, visit your book page on openstax.org. Contributing Authors David S. Bright, Wright State University Anastasia H. Cortes, Virginia Tech University Donald G. Gardner, University of Colorado-Colorado Springs Eva Hartmann, University of Richmond Jason Lambert, Texas Woman’s University Laura M. Leduc, James Madison University Joy Leopold, Webster University Jeffrey Muldoon, Emporia State University James S. O’Rourke, University of Notre Dame K. Praveen Parboteeah, University of Wisconsin-Whitewater Jon L. Pierce, University of Minnesota-Duluth Monique Reece Amit Shah, Frostburg State University Siri Terjesen, American University Joseph Weiss, Bentley University Margaret A. White, Oklahoma State University Reviewers Susan Adams, Bentley University Shane Bowyer, Minnesota State University Kim S. Cameron, University of Michigan Linda Davenport, Klamath Community College Allyson Foster John Goldberg, University of California-Davis Regina Greenwood, Nova University Gina Hagler Nai H. Lamb, University of Tennessee at Chattanooga Kristie J. Loescher, University of Texas 4 Preface This OpenStax book is available for free at http://cnx.org/content/col28330/1.8 Marcia Marriott, Monroe Community College Therese Madden, Notre Dame de Namur University Eleonor Moore, Kirtland Community College Robert McNulty, Bentley University Jeffrey Muldoon, Emporia State University John Parnell, University of North Carolina-Pembroke Jim Pennypacker Karli Peterson, Colorado State University Raymond Pfang, Tarrant Community College Jodell Raymond, Monroe Community College Richard Savior, SUNY Empire State Carolyn Stevenson, Kaplan University Amit Shah, Frostburg State University Linda Tancs Maria Vitale, Chaffey College Valerie Wallingford, Bemidji State University Preface 5 Preface This OpenStax book is available for free at http://cnx.org/content/col28330/1.8 Introduction Learning Outcomes After reading this chapter, you should be able to answer these questions: What do managers do to help organizations achieve top performance? What are the roles that managers play in organizations? What are the characteristics that effective managers display? Exhibit 1.1 (Credit: Steve Bowbrick/ flickr/ Attribution 2.0 Generic (CC BY 2.0)) You So, you’re in this course and you may have pondered, or discussed with others, what this course will be about. You probably have some preconceptions of what management is all about. You must manage your time, deciding on how much study time you will devote to your management and accounting classes, for instance. You may have had a summer or part-time job where you had a manager whom you had to report to. You may have followed news reports on successful managers like Jeff Bezos of Amazon or Sheryl Sandberg of Facebook and want to learn what made them successful so you can emulate their practices in your business career. You may have the impression (not an accurate one) that management is basically just common sense and that you really don’t need to take this course except that you must meet your degree requirement. You may be an accounting or marketing major who is taking this class because it is required for completion of your degree requirements, but you don’t think that you will ever require what you learn in E X P L O R I N G M A N A G E R I A L C A R E E R S 1. 2. 3. 1 Managing and Performing Most management textbooks would say, as does this one, that managers spend their time engaged in planning, organizing, staffing, directing, coordinating, reporting, and controlling. These activities, as Hannaway found in her study of managers at work, “do not, in fact, describe what managers do.”1 At best they seem to describe vague objectives that managers are continually trying to accomplish. The real world, however, is far from being that simple. The world in which most managers work is a “messy and hectic stream of ongoing activity.”2 1.1 What Do Managers Do? 1. What do managers do to help organizations achieve top performance? Managers are in constant action. Virtually every study of managers in action has found that they “switch frequently from task to task, changing their focus of attention to respond to issues as they arise, and engaging in a large volume of tasks of short duration.”3 Mintzberg observed CEOs on the job to get some idea of what they do and how they spend their time. He found, for instance, that they averaged 36 written and 16 verbal contacts per day, almost every one of them dealing with a distinct or different issue. Most of these activities were brief, lasting less than nine minutes.4 Kotter studied a number of successful general managers over a five-year period and found that they spend most of their time with others, including subordinates, their bosses, and numerous people from outside the organization. Kotter’s study found that the average manager spent just 25\% of his time working alone, and that time was spent largely at home, on airplanes, or commuting. Few of them spent less than 70\% of their time with others, and some spent up to 90\% of their working time this way.5 Kotter also found that the breadth of topics in their discussions with others was extremely wide, with unimportant issues taking time alongside important business matters. His study revealed that managers rarely make “big decisions” during these conversations and rarely give orders in a traditional sense. They often react to others’ initiatives and spend substantial amounts of time in unplanned activities that aren’t on their calendars. He found that managers will spend most of their time with others in short, disjointed conversations. “Discussions of a single question or issue rarely last more than ten minutes,” he notes. “It is not at all unusual for a general manager to cover ten unrelated topics in a five-minute conversation.”6 More recently, managers studied by Sproull showed similar patterns. During the course of a day, they engaged in 58 different activities with an average duration of just nine minutes.7 Interruptions also appear to be a natural part of the job. Stewart found that the managers she studied could work uninterrupted for half an hour only nine times during the four weeks she studied them.8 Managers, in fact, spend very little time by themselves. Contrary to the image offered by management textbooks, they are rarely alone drawing up plans or worrying about important decisions. Instead, they spend most of their time interacting with others—both inside and outside the organization. If casual interactions in hallways, phone conversations, one-on-one meetings, and larger group meetings are included, managers spend about two- thirds of their time with other people.9 As Mintzberg has pointed out, “Unlike other workers, the manager this class during your career since you don’t plan on applying for HR jobs upon graduation. If you’re believing this, you could not be more mistaken. Regardless of where you are in your career, be it as an individual contributor, project leader, or middle or senior manager, what you will get out of this course will be valuable. If your first job out of college is as an accountant, sales representative, or another entry- level position, you will appreciate the roles that your managers, both direct and senior level, play in an organization and the behaviors and actions that will get you recognized and appreciated. Best of luck! 8 Chapter 1 Managing and Performing This OpenStax book is available for free at http://cnx.org/content/col28330/1.8 does not leave the telephone or the meeting to get back to work. Rather, these contacts are his work.”10 The interactive nature of management means that most management work is conversational.11 When managers are in action, they are talking and listening. Studies on the nature of managerial work indicate that managers spend about two-thirds to three-quarters of their time in verbal activity.12 These verbal conversations, according to Eccles and Nohria, are the means by which managers gather information, stay on top of things, identify problems, negotiate shared meanings, develop plans, put things in … Explanation of Case Studies A case is a story that describes a problematic incident, event, or situation. It typically reports in-depth information about certain aspects of the situation while under-reporting other aspects, and its conclusion is commonly left open-ended. The mission of case analysis is to make sense of the given material and to identify appropriate actions for handling the case situation.  In a case analysis, students should evaluate the different opinions about the case and use their evaluations as the basis for forming a common opinion.  Case Analysis Guidelines  Step 1. What are the key issues or problems of the case?  Any case may suggest several interpretations of what the focal concerns are. It is helpful to begin by identifying as many different interpretations as possible. Have each participant state why he or she identified the issues or problems as key.  Step 2. Prioritize the problems. Students should focus on the key issues of the case. This may involve selecting one of the issues already raised or creating a new statement that identifies the problem. In some cases, there may be several problems at work, in which case participants may wish to simply rank the problems in terms of either potential importance or timing of impact.