Management The planning, organizing, leading, and controlling of human and other resources to achieve organizational goals effectively and efficiently
Organization’s Resources include people, skills, know-how and experience, machinery, raw materials, computers and IT, patents, financial capital, and loyal customers and employees
Organizational Performance A measure of how efficiently and effectively managers use available resources to satisfy customers and achieve organizational goals
Efficiency A measure of how well or how productively resources are used to achieve a goal Effectiveness A measure of the appropriateness of the goals an organization is pursuing and the degree to which the organization achieves those goals.
manager are also impressive. In the United States, general managers earn a median wage of $95,000. 3. Learning management principles can help you make good decisions in non-work contexts
are aiming to take Alcon’s expertise in film production and apply it to television audiences by producing and distributing quality original programming. Alcon used a low-cost strategy to produce one film at a time, with an emphasis on reducing costs and maximizing efficiency in filmmaking http://www.alconent.com/
Organizational structure A formal system of task and reporting relationships that coordinates and motivates organizational members so that they work together to achieve organizational goals
Leadership Articulating a clear vision and energizing and enabling organizational members so they understand the part they play in achieving organizational goals involves managers using their power, personality, influence, persuasion, and communication skills to coordinate people and groups
First-line managers responsible for the daily supervision of the nonmanagerial employees Middle managers Supervises first-line managers responsible for finding the best way to use resources to achieve organizational goals
Top managers responsible for the performance of all departments establish organizational goals decide how different departments should interact monitor how well middle managers utilize resources to achieve goals
Conceptual skills The ability to analyze and diagnose a situation and distinguish between cause and effect. Human skills The ability to understand, alter, lead, and control the behavior of other individuals and groups. Technical skills Job-specific skills required to perform a particular type of work or occupation at a high level.
Core competency Specific set of departmental skills, abilities, knowledge and experience that allows one organization to outperform its competitors Skills for a competitive advantage
Restructuring Downsizing an organization by eliminating the jobs of large numbers of top, middle, and first- line managers and nonmanagerial employees. Outsourcing Contracting with another company, usually in a low cost country abroad, to perform a work activity the company previously performed itself
Competitive Advantage ability of one organization to outperform other organizations because it produces desired goods or services more efficiently and effectively than its competitors Innovation The process of creating new or improved goods and services or developing better ways to produce or provide them.
ways to more economically produce their content amid tightening margins and smaller audiences. One way Alcon is responding to this pressure is by expanding into music production that will support its film and television production endeavors. Producing music ”in-house” reduces cost, providing Alcon with maximum flexibility to use music as it sees fit. http://www.alconent.com/
Turnaround management creation of a new vision for a struggling company using a new approach to planning and organizing to make better use of a company’s resources to allow it to survive, and eventually prosper
