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Project Management Process parts (4) + concept:
process of planning, organizing, leading, and controlling an organization's resources to achieve its goals.
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Define planning, organizing, leading, controlling:
- Planning- management process of determining what an org needs to do and how best to get it done. (goals-> strategy-> tactical and operational plans to implement the strategy)
- Organizing- management process of determining how best to arrange an org.'s resources and activities into a coherent structure.
- Leading- management process of guiding and motivating employees to meet an org's objectives. give orders and demand results
- Controlling- management process of monitoring an org's performance to ensure that it is meeting its goals.
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Types of managers (3):
- Top managers: responsible for firm's overall performance and effectiveness. Set general policies, formulate strategies, approve decisions. Represent the firm.
- Middle managers: responsible for implementing the strategies and working toward the goals set by the top managers.
- First-line manager: responsible for supervising the work of employees. Ensure the employees are trained and understand their tasks. Supervisor, project manager, group leaders
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Areas of management (6):
1. Human Resource Managers: hire and train employees, evaluate performance.
2. Operation Managers: production, quality control.
3. Marketing Managers: getting products from producers to consumers.
4. Information Managers: design and implements systems to gather, organize and distribute information.
5. Financial Managers: to plan and oversee accounting functions and financial resources.
6. Other Managers
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Basic management skills (6):
1. Technical skills: needed to perform specialized tasks.
- 2. Human Relations Skills: skills in understanding and getting along with people
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- 3. conceptual skills: abilities to think abstractly, diagnose and analyze different situations, and see beyond the present situation
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- 4. Time Management Skills: skills associated with the productive use of time. paperwork, telephone calls, meetings, e-mail
5. Decision making skills: finding problems and solutions
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What is strategic management?
- process of helping an org maintain an effective alignment with its environment.
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- 1. Set goals: objectives that a business hopes and plans to achieve
2. Strategy: broad set of organizational plans for implementing the decisions made for achieving organizational goals
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Purpose of goals:
- 1. direction and guidance
- 2. helps firms to allocate resources (what has priority?)
- 3. define corporate culture (the shared experiences, stories, beliefs, and norms that characterize an organization)
- 4. to assess performance
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Kinds of goals:
Long-term goal: goal set for an extended time, typically 5 years or more into the future
Intermediate goal: goal set for a period of 1 to 5 years into the future
Short-term goal: goal set for the very near future
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What is mission statement?
Organization's statement of how it will achieve its purpose in the environment in which it conducts its business
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Types of strategy (3):
Corporate strategy: for determining the firm's overall attitude toward growth and the way it will manage its business or product lines. (which business or businesses a company will own and operate)
Business (or Competitive) strategy: strategy, at the business-unit or product-line, focusing on improving a firm's competitive position
Functional strategy: strategy by which managers in specific areas decide how best to achieve corporate goals through productivity
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Strategy Formulation:
Creation of a broad program for defining and meeting an organization's goals.
- Step 1 - Strategic goalsgoal derived directly from firm's mission statement
- Step 2 - SWOT, environmental and organizational analysis- Identification and analysis of organizational strengths and weaknesses (S+W) and environmental opportunities and threats (O+T)as part of strategy formulation
- Process of scanning the business environment for threats and opportunities
- Process of analyzing a firm's strengths and weaknesses
Step 3 - matching the organization and its environment
=> formulate strategy
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Hierarchy of plans:
Strategic plans: plans reflecting decisions about resource allocations, company priorities, and steps needed to meet strategic goals. Yahoo: top internet search engines
Tactical plans: generally short-term plan concerned with implementing specific aspects of a company's strategic plans. need for partnerships
Operational plans: plan setting short-term targets for daily, weekly, or monthly performance. partnership agreements
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Contingency planning (varuplaan):
Identifying aspects of a business or its environment that might entail changes in strategy
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Crisis management:
Organization's methods for dealing with emergencies
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What is organizational structure?
Specification of the jobs to be done within an organization and the and the ways in which they relate to each other.
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What is Organization chart?
Diagram depicting a company's structure and showing employees where they fit into its operations.
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What is chain of command?
reporting relation within a company. who reports to whom
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how to build organizational structure (3):
1. Job specialization:the process of identifying the specific jobs that need to be done and designing the people who will perform them
2. Departmentalization: process of grouping job into logical units.
3. Establishment of a decision-making hierarchy: who'll be empowered to make which decisions and have authority over others
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Which are the lines of departmentalization (5):
1. Product dep. : dividing an org. according to specific products or services being created
2. Process dep. : dividing an org. according to production process used to create a good or service.
3. Functional dep.: dividing an org. according to groups' functions or activities.
4. Customer dep.: dividing an org. to offer products and meet needs for identifiable customer groups.
5. Geographic dep.: dividing an org. according to the areas of the country or the whole world served by a business.
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Profit center:
separate company unit responsible for its own costs and profits.
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Decision- making hierarchy:
- 1. Centralized organizations: org. in which most decision-making authority is held by upper level management.
- => tall organizational structure with multiple layers of management
- 2. Decentralized organization: org. in which a great deal of decision-making authority is delegated to levels of management at points below the top.
- => Flat organizational structure with relatively few layers of management.
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Span of control:
number of people supervised by one manager. At lower levels, where tasks are similar and simpler, span control widens.
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Delegation process:
Delegation: process through which a manager allocates work to subordinates (alamatele)
- 1. Responsibility: duty to perform an assigned task
- 2. Authority: power to make the decisions necessary to complete a task
- 3. Accountability: obligation employees have to their manager for the successful completion of an assigned task
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Three forms of Authority:
- 1. Line authority: organizational structure in which authority flows in a direct chain of command from the top of the company to the bottom.
- => Line departments: department directly linked to the production and sales of a specific product
- 2. Staff authority: based on expertise that usually involves counseling and advising line managers.
- => Staff managers: advisers and counselors who help line departments in making decisions but who do not have the authority to make final decisions.
- 3. Committee and Team Authority: authority granted to committees or teams involved a firm's daily operations
- => work team: groups of operating employees who are empowered to plan and organize their own work and to perform that work with a min supervision.
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Basic forms of Organizational structure (4):
1. Functional structure: org. structure in which authority is determined by the relationships between group functions and activities.
- 2. Divisional structure: org. structure in which corporate divisions operate as autonomous business under the larger corporate umbrella.
- => Division: department that resembles (sarnanema) a separate business in that it produces and markets its own products.
3. Matrix structure: org. structure created by superimposing one form of structure onto another. mix
4. International: approaches to organizational structure developed in response to the need to manufacture, purchase, and sell in global markets.
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Informal organization:
Network, unrelated to the firm's formal authority structure, of everyday social interactions among company employees
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grapevine (kuuldus, suust suhu kandev):
informal communication network that runs through an organization
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Intrapreneuring:
process of creating and maintaining the innovation and flexibility of a small- business environment within the confines (piirid) of a large organization.
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