Management
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Management
Decision Making Types
The following are the types of decision-making, programmed decisions, which are verdicts that can be handled by established business procedures and rules since they have been made severally. The decisions can be programmed to ensure consistency and save time for decision makers.
Non-programmed decisions on the hand are made in respond to unusual situations such as opportunities or threats. These situations are considered unique, scantily defined, and largely unstructured. The decision making process requires information gathering, cognizant thinking and cautious consideration of alternatives.
Traditional Change Process and its Purpose
Traditional change process is the sequence of steps, techniques and tools taken to achieve a required business outcome. This process is important in management as it helps in improving the organization by altering how tasks are performed.
Models of CSR
Corporate Social Responsibility modes include an accommodative CSR model whereby companies are committed to societal responsibility and make choices that are seen to be reasonable in the eyes of the people. Proactive CSR model is whereby the company is committed to social responsibility and is eager to behave in socially responsible ways. Other CSR models are obstructionist and reactive models. Obstructionist model is whereby a company has total disregard to social responsibility whereas in a reactive CSR a company has minimal commitment to social responsibility, as managers are only willing to do what the law requires them to do.
Definition of Ethics
Ethics are the fundamental principals and basic concepts of civilized human behavior.
Ethical Models and Their Importance
Ethical models are underlying principles that clarify moral issues and ideas. They help in making critical assessments of moral claims by testing their justification, truth and adequacy.
Ethical dilemmas and their importance
An ethical dilemma is an intricate situation that entails a perceptible mental conflict between moral imperatives in which to abide by one would result in contravening another. They help choosers in abiding by societal norms like religious teachings or law codes.
The Four Key Functions of Management
Planning
It is a management process, which involves the identification of the immediate and long-term objectives of an organization and creating and scrutinizing specific strategies to achieve them. Planning also involves resource allocation and staffing.
Leading
Leading is a management function, which requires key management leaders to motivate employees to help achieve business goals and objectives. In leading, managers influence their personnel to outlook situations from their viewpoint and supervising the employees to enhance the achievement f organizational goals.
Organizing
It is the process of bringing together human, financial and physical resources to achieve organizational objectives. In organizing, managers identify the tasks for completion and assign them to individuals or groups.
Controlling
Controlling is management function that involves measuring of success against established goals and objectives. Managers need to monitor the performance of a firm to ensure that goals are being met. In addition, they should identify the sources of digression from successful accomplishment and provide corrective action of the cause.
Control Process Steps
There are four main steps in a control process. They are, establishing performance standards, targets or goals against which performance evaluation is done. An organization must develop, explain and document clear methods and standards for measuring their performances. These standards must be understood to ensure that effective measuring of responsibilities and tasks take place. The second step is the measuring of the actual performance. This process must be done in a clear and consistent manner to enhance the acquisition of proper data to ensure that informed company decisions are met.
The third control process step is carrying out a comparison of the actual performance against chosen standards. A company should always compare the results of the actual performance with their previously chosen standards. This enables them to determine if the performance is up to their anticipation or if certain policies need to be abandoned. The fourth control process plan is the evaluation of the results and taking correctives action especially when there is failure of standards. An organization must the information acquired from the control process. Lack of action means that time and resources were wasted in instituting the control process.
Different Models of Control
Control models include, preventive control model, which prevents harm or loss from occurring, corrective control model, which facilitates the restoration of the system and detective control model, which monitors activities to identify occurrences where procedures or practices were not followed.
Different Types of Organizational Structures
For an organization to be effective, it must have a structure. The types of organizational structure are functional organizational structure, which is set up in a way that each organizational portion is categorized according to its purpose. Common departments like accounting, purchasing and human resource are organized by separating each of these areas and running them independently. In this type of structure, the organization is divided into segments based on the functions when carrying out the management process.
Divisional structures are used in larger organizations that operate in an extensive geographic area. They divide the functional areas of the organization to divisions such that each segment is equipped with its own resources in order to function independently. The other organizational structure is matrix, which allows for the benefits of divisional and functional structures to exist in one organization. In matrix organizational structure, companies use teams to complete tasks. Bureaucratic structures are the last organizational structures. They maintain strict hierarchies when it comes to management of people. There are there types of bureaucratic structures, pre-bureaucratic, bureaucratic and post-bureaucratic structures.
Leadership Power Models
Leadership models are guides that recommend specific behaviors to use in specific situation or environment. Referent power arises from employees` respect for a manager and their aspiration to identify an emulate them. Expert power reposes on the confidence of employees that a person has a particularly high level of skills. Reward or personal power respites on the capability of a manager to reward employees. Legitimate power on the other hand rests on the basis that a manager has the right to give orders depending on his or position.
Different Leadership Models Used In the Lecture (i.e. particularly fielder)
Fielder leadership model suggests that productive group performance depends on the appropriate match between the leader`s style and the level to which the condition gives control to the leader. Fielder`s model comprises of three primary elements, situation, leadership style and the relationship between the style and the situation.
Vision and Its Importance
A vision is an inspiring statement that describes what an organization desires to achieve in the future. It serves as a comprehensible channel for choosing present and prospect course of action.
Different Models of Change Management (Theory E and Theory O)
The three well known models of change management are Kotter`s 8 step change model that cause change to become an operation, McKinsey 7-Step which provide a holistic approach to organization and Lewin`s Management model, which states that major people tend to operate within safety zones.
The two contrasting theory of change management are, theory E and O. Theory E focuses on the creation of shareholder value. According to the theory, change is programmatic and planned. Theory O on the other hand aims in the development of the organization’s employee capability to implement strategy and learn from actions taken in implementing the change process.
Models of Ethics
Ethical models constitute of; utilitarian model, which defines ethical decisions as aspects that produces the greatest good for the utmost number of people. Justice ethical model on the other hand describes an ethical decision as one that dispenses harm and benefits among stakeholders in a fair, impartial and equitable manner. Moral right is the last model, which is described as a model that best protects and maintains the fundamental privileges and rights of the people affected by it.