Strategic Decision Making Summary

Topics: Management, Strategic management, Decision making Pages: 20 (4203 words) Published: January 22, 2014
Strategic Decision Making
General Introductory Ideas
5 Minds of a Manager: Henry Mintzberg
To be effective managers need to face the juxtaposition in order to arrive at a deep integration of contradictory concerns. 1) Reflective Mind-Set:Managing Self
2) Collaborative Mind-Set: Managing Relationships
3) Analytical Mind-Set: Managing Organizations
4) Worldly Mind-Set: Managing Context
5) Action Mind-set: Managing Change
Emotional Intelligence: Daniel Goleman
The 5 Components of EIQ
1. Self-Awareness: The ability to recognize &understand your moods, emotions, and drives, as well as their effects on others. Hallmarks: Self Confidence, Realistic self-assessment, Self-deprecating sense of humour 2. Self-Regulation: The ability to control or redirect disruptive impulses & moods; The propensity to suspend judgment-to think before acting. Hallmarks: Trustworthiness &integrity, Comfort with ambiguity, Openness to change 3. Motivation: A passion to work for reasons that go beyond money or status; A propensity to pursue goals with energy &persistence. Hallmarks: Strong drive to achieve. Optimism, even in the face of failure. Organizational commitment 4. Empathy: The ability to understand the emotional makeup of other people; Skill in treating people according to their emotional reactions. Hallmarks: Expertise in building & retaining talent Cross-cultural sensitivity Service to clients & customers 5.Social Skills: Proficiency in managing relationships & building networks; An ability to find common ground and build rapport. Hallmarks: Effectiveness in leading change, Persuasiveness, Expertise in building & leading teams Evolution of Management Theory Jones and George

Scientific Management (Taylor)
The systematic study of the relationships between people and tasks for the purpose of redesigning the work process for higher efficiency. Taylor sought to reduce the time a worker spent on each task by optimizing the way the task was done. Replace informal rule of thumb. Principles to increase efficiency:

1. Study the ways jobs are performed now and determine new ways to do them. 2. Codify the new methods into rules. (BUT BORING)
3. Select workers whose skills match the rules.
4. Establish fair levels of performance and (Pay a premium for higher performance).

Administrative Management (Max Weber)
The study of how to create an organizational structure that leads to high efficiency and effectiveness. Weber’s Principles of Bureacracy: Should have:
1. System of rules procedures
2. Hierarchy of authority
3. Selection and evaluation system
4. System of task and role relationships
Warned against the “industrialisation” of society.

Fayols 14 Principles of Management
Division Of Work
Unity Of Command
Unity Of Directio
Subordination Of Individual Interests To The General Interests Remuneration
Scalar Chain
Stability Of Tenure Of Personnel
Espirit De Corps (Morale)

Behavioral Management Theory (Managers Personal Behaviour)
How managers behave to motivate/encourage employees to achieve organizational goals. Mary Parker Follett
An influential leader in early managerial theory. Held a horizontal view of power and authority in organizations • Suggested workers analyse their jobs for improvements—the worker knows the best way to improve the job. They have relevant knowledge of the task, then they should control the task.

Theory X versus Theory Y (Mc Gregor)
New Theory Z
Humanistic approach
Japanese (more collectivist) principles.
Concern for employees that goes beyond the workplace.
Informal management style, but formal measurement
The Open-Systems View
A system that takes resources for its external environment and converts them into goods and services that are then sent back to that environment for purchase by customers. Inputs: the acquisition of external resources.

Conversion: the processing of inputs into goods and...
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