Lecture 2

Lecture 2

Basic activity of mgmt, Mgr at every level do planning Determined through objectives of organization & establishment of appropriate strategies for achieving them.

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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” Fall 2013 & actions to achieve them.

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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

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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

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Facilitates accomplishment of plans.

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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. 

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Planning • Setting performance objectives & deciding how to achieve them

Organizing • Arranging tasks, people, & other resources to accomplish the work

The Management Process

Controlling • Measuring performance & taking action to ensure desired results

Leading • Inspiring people to work hard to achieve high performance

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

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