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MGM280 – Introduction to Management
Barriers to Entry
 Factors that make it difficult and costly for the organization to enter a
particular task environment or industry
 Economies of scale, brand loyalty, government regulations
Hofstede’s Model of National Culture

yt4
NAFTA/Regional trade agreements
 J
Tariffs/Import Tariffs
 A tax that government imposes on imported or, occasionally, exported goods
...

The General Environment
Economic Forces
 factors that affect the general health and well-being of a country or world
region
 Interest rates, inflation, unemployment, economic growth
Technology
 Combination of tools, machines, computers, skills, information, and
knowledge that managers use in the design, production, and distribution of
goods and services
Technological Forces



Outcomes of changes in the technology that managers use to design, produce,
or distribute goods and services
Sociocultural Forces
 Pressures emanating from the social structure of a country or society or from
the national culture
 National culture: the set of values that a society considers important and the
norms of behavior that are approved or sanctioned in that society
...

Collectivism
 A worldview that values subordination of the individual to the goals of the
group and adherence to the principle that people should be judged by their
contribution to the group
Power Distance
 Degree to which societies accept the idea that inequalities in the power and
well-being of their citizens are due to differences in individuals’ physical and
intellectual capabilities and heritage
Achievement versus Nurturing Orientation
 Achievement-oriented societies value assertiveness, performance, and
success and are results-oriented
...

Uncertainty Avoidance
 Societies and people differ in their tolerance for uncertainty and risk
...
g
...
S
...

 High uncertainty avoidance societies (e
...
, Japan and France) are more rigid
and expect high conformity in their citizens’ beliefs and norms of behavior
...
Short-term Orientation
 Cultures with a long-term orientation rest on values such as thrift and
persistence in achieving goals
 Cultures with a short-term orientation are concerned with maintaining
personal stability or happiness and living for the present
Four Principles of Capital

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Fill in

Control Systems

Feedforward: anticipate problems before they occur

Concurrent: manage problems as they occur

Feedback: manage problems after they have arisen
Three Types of Control
 Output control
 Behavior control
 Clan control
Steps in the Control Process

Financial Measures of Performance
Direct Supervision
 Managers who actively monitor and observe the behavior of their
subordinates
 Teach subordinates appropriate behaviors
 Intervene to take corrective action
 Most immediate and potent form of behavioral control
 Can be an effective way of motivating employees
Management by Objectives (MBO)
 Formal system of evaluating subordinates for their ability to achieve specific
organizational goals or performance standards and to
meet operating budgets
1
...
Managers and their subordinates together determine the subordinates’ goals

3
...

 To get an organization to change, managers must find a way to increase the
forces for change, reduce resistance to change, or do both simultaneously
...

Bottom-up change



A gradual or evolutionary approach to change in which managers at all levels
work together to develop a detailed plan for change
...

Types of Conflict
Interpersonal Conflict
 Conflict between individuals due to differences in their goals or values
...

Intergroup Conflict
 Conflict between two or more teams, groups or departments
...

Task Interdependencies
Focusing on What Is Fair
Conflict Management Strategies
Functional Conflict Resolution
 Handling conflict by compromise or collaboration between parties
...

Collaboration
 Parties try to satisfy their goals without making concessions by coming up
with a new way to resolve their differences that leaves them both better off
...

Networking
 The exchange of information through a group or network of interlinked
computers
 Servers are powerful computers that relay information to client computers
connected on a Local Area Network (LAN)
...

 Were the first computer-based information systems handling billing, payroll,
and supplier payments
...

 Can help managers with non-routine decisions such as customer service and
productivity
...

 New productive capacity, new product development, launch a new
promotional campaign, enter a new market or expand internationally
Executive Support System
 Sophisticated version of a decision support system designed to meet the
needs of top managers
Group Decision Support System
 An executive support system that links top managers so that they can
function as a team
...
I
...

 Specific form of IT that managers utilize to generate the specific, detailed
information they need to perform their roles effectively
Product Life Cycle
 Advances in IT are one of the most important determinants of the length of a
product’s life cycle
 The shorter the length of a product’s life cycle because of advancing IT the
more important it is to innovate products quickly and continuously
Embryonic stage
 Product has yet to gain widespread acceptance
 Customers are unsure what a product has to offer
Growth stage
 Many consumers are buying the product for the first time
 Demand increases rapidly
Mature stage
 Market peaks because most customers have already bought the product

 Demand is typically replacement demand
Decline stage
 Advancing IT leads to the development of a more advanced product making
the old one obsolete

Strategic alliances, B2B network structures and IT
Strategic Alliances
 Formal agreement that commits two or more companies to exchange or
share their resources in order to produce and market a product
B2B network structure
 Formal series of global strategic alliances that one or several organizations
create with suppliers, manufacturers, and/or distributors to produce and
market a product



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