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    MGT101 Principles of Management

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    thanhvynguyn11
    Management involves planning, decision making, organizing, leading, motivating and controlling resources to achieve goals efficiently. There are three levels of managers - top managers establish policies and strategies, middle managers ensure smooth operations, and lower managers oversee daily activities and train employees. Reducing trade barriers through agreements like the WTO has increased globalization by making economies more interconnected.

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    MGT101 Principles of Management

    Uploaded by

    thanhvynguyn11
    6 views2 pages
    Management involves planning, decision making, organizing, leading, motivating and controlling resources to achieve goals efficiently. There are three levels of managers - top managers establish policies and strategies, middle managers ensure smooth operations, and lower managers oversee daily activities and train employees. Reducing trade barriers through agreements like the WTO has increased globalization by making economies more interconnected.

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    Management involves planning, decision making, organizing, leading, motivating and controlling resources to achieve goals efficiently. There are three levels of managers - top managers establish policies and strategies, middle managers ensure smooth operations, and lower managers oversee daily activities and train employees. Reducing trade barriers through agreements like the WTO has increased globalization by making economies more interconnected.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    6 views2 pages

    MGT101 Principles of Management

    Uploaded by

    thanhvynguyn11
    Management involves planning, decision making, organizing, leading, motivating and controlling resources to achieve goals efficiently. There are three levels of managers - top managers establish policies and strategies, middle managers ensure smooth operations, and lower managers oversee daily activities and train employees. Reducing trade barriers through agreements like the WTO has increased globalization by making economies more interconnected.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    1. What does management mean to you?

    Management is a process of planning, decision making, organizing, leading, motivation and


    controlling the human resources, financial, physical, and information resources of an
    organization to reach its goals efficiently and effectively.
    2. Explain the areas of management, with example
    Areas of Management
    Functional management and General management represent two different responsibility sets
    within an organization. General management is more common in smaller, more versatile
    environments, where the general manager can actively engage in every facet of the business.
    Functional managers are most common in larger organizations with many moving parts, where
    different business functions are led by managers within those respective fields.
    - Example of Functional management: Customer service manager
    - Example of General management: Corporate managers holding the titles of chief executive
    officer (CEO) or president
    3. What are the level of managers in an organization? How do managers at each level perform
    management function?
    The level of managers in organization are Top management, Middle management and Lower
    management
    a) Top management
    - Top management of a typical organization consists of the chairman, president, vice
    president, chief executive officers, board of directors, and managing directors.
    These are the individuals responsible for the policies and performance of an
    organization. They’re the highest sources of authority, and establish the main goals,
    strategies, operating policies, and guidelines for an organization, their stakeholders,
    society, and the economy through their decisions. Thus, the main functions are:
     To determine the objectives, policies, and strategies plans of the organization.
     To provide guidance and direction for department activities, budgets,
    procedures, and schedules.
     To appoint middle level and functional area executives.
     To coordinate and integrate all departmental activities.
     To act as contact points with society and the public.
     To hold responsibility to the shareholders and stakeholders.
    b) Middle management
    - Middle level mangers act for and with top management to achieve the objectives of
    the organization. The functions of middle management are:
     To run key organizational functions for top management while top management
    spends more time on strategies.
     To ensure smooth operations of the organization.
     To understand the interconnectivity of all departments and ensure they operate
    harmoniously.
     To develop efficient personnel and encourage merit-based rewards.
     To develop capable leaders via training and development.
     To foster strong organizational spirit and culture.
    c) Lower management
    - Management at this level consists of clerical or lab supervisors, plant
    superintendents, or senior foremen. This is the lowest level at which employees are
    accountable for the work of others in the organization. The central attribute of
    these lower level managers is that they are the direct contact points for operatives
    employees. As links between middle management and workers, they are
    responsible for fostering harmonious working relationships among these groups and
    acting as the voice of the workers.
    - The main functions of a lower level manager can therefore be summarized as the
    following:
     To plan day-to-day activities and targets within goals set by upper management.
     To assign specific tasks to employees.
     To oversee hour-to-hour results.
     To report on daily feedback and information.
     To take immediate corrective action at the activity site.
     To train, motivate and evaluate employees.

    25. Explain to a friend how the reduction of trade barriers around the world has speed up the process of
    globalization

    * Globalization:
    - Defined as the shift toward a more integrated and interdependent world economy
    - What happens in one country will most probably impact other countries with whom it has a close
    relationship.
    - For example, European Union (EU) was heavily hit by the Eurozone Crisis in 2008, the United States
    (US) also felt the heat because it was a major trading partner of EU.
    * Reduced trade barriers and investment restrictions:
    - Establishment of WTO in 1995 has sped up reduction of trade barriers
    - Establishment of regional economic integrations – ASEAN, APEC, etc.

    26. If you were offered a foreign assignment for two years in Malaysia, discuss on the possible
    challenges that you should expect to face as a manager in that country
    Possible challenges:
    - Economic differences between Vietnam and Malaysia
    - Adapting to the new market in Malaysia
    - Difficulty in identifying consumer needs
    - Difficulty in understanding the employee's lifestyle
    - New working environment
    - Difficulty in shaping management thinking
    - Must learn the management style of superiors

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