...Running Head: Unit 2 Assignment Foundation of Management Kaplan University MT140: Introduction of Management Foundation of Management Unit 2 assignment examined the differences between various management theories. The four management theories this paper will discuss is the classical approach, behavioral approach, system approach, and contingency approach. I will explain each theory, state why management is important and give reasons to support my position. Classical Approach (1800s) Focuses on management from a view of hierarchical authority. It is comprised of two components: scientific and administrative management. Scientific management emphasize how equipment and workers affected productivity. A leading management expert during his time, Fredrick Taylor coined a concept called soldiering. He believed workers maintained a consistent level of productivity to prevent them from being fired or replaced by machinery. Administrative management was a theory that management as a function could be applied to any size and type of organization. It was based on the belief that workers performed their jobs because they simply needed money. Behavioral Approach (1900s) The behavioral approach took into account workers needs and attitudes in the workplace. Elton Mayo and his team observed how certain variables within the work environment affected workers performance. Conditions like changes in lighting, pay, and hot meals had little to no distress on workers...
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...FOUNDATIONS OF CONFLICT MANAGEMENT Abstract The effect of interpersonal conflict on team performance will be examined, in terms of the most salient types of conflict in the workplace; whether the Chinese setting can be generalized to U.S. work environments; and recommendations for conflict resolution remedies in the workplace. Introduction Disagreement and differences of opinion are regular occurrences not only in the workplace, but in our everyday lives. In fact, disagreement is often the vehicle by which creative and cutting edge ideas are generated. Conflict is something different altogether. Where disagreement can be an expression of confidence, enthusiasm, or caring, conflict is an expression of frustration, self-consciousness, and anger. It is important to identify workplace conflict, understand how it arises and how to most effectively resolve it. Recognizing and understanding what causes conflict in the workplace during its early stages, is the key to a quick resolution of the issue. Types of Conflict The most salient types of conflict in the work place can be categorized as “substantive conflict” and “personalized conflict”. Substantive conflict deals with disagreements among members of the organization about the content of the tasks being performed or the performance itself. The conflict occurs when the members meet a specific challenge and cannot agree on the cause or a proper solution. The differing views may be based on personal opinion,...
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...There is little doubt that technological advances have made our lives easier. Thanks to them the world has become a much smaller place. We can now traverse the Oceans in a matter of hours. We can stay up to the minute with current affairs via the expansive news networks available through various media, including the internet. Gone are the days of the home based phone being our only option to communicate (voice) with loved ones and friends. Think of a world without heat in the winter and air conditioners in the summer. It existed believe it or not! A lot of our manual tasks are taken up by machines, which manufacture, assemble and pack the products for them. People are leading longer and healthier lives due to development of vaccines and availability of state of the art surgical equipment. The advent of technological era has brought many changes which have made a considerable impact on human life. If we take each of these advances and look into their history, it is very likely, if not guaranteed, that we will find predecessors that were improved upon through innovations of the particular technology. Those advances would have been considered transformational and the innovations would have been cutting edge. Throughout history, humanity has sought to better itself through science and technology, well before those terms even existed. Prehistoric man’s quest for survival could be argued to be the building block for our desire to innovate. Man needed to eat, so he ate berries...
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...El-Egeimy 45 C- Heliopolis PSYCHOLOGICAL FOUNDATIONS OF DYNAMIC CAPABILITIES: REFLEXION AND REFLECTION IN STRATEGIC MANAGEMENT Abstract In recent years, there has been a move to identify the behavioral foundations underpinning the evolutionary and economic fitness of the enterprise. Indeed, the dynamic capabilities project now occupies center stage in the field of strategic management. Yet the accounts developed thus far—like much of the field’s theory and research more generally—are predicated upon a cold cognition logic that downplays the significance of emotional/affective and nonconscious cognitive processes for strategic adaptation. In this article, we rectify this imbalance by drawing upon contemporary advances in social cognitive neuroscience and neuroeconomics to develop a series of countervailing insights and new prescriptions for the development of dynamic capabilities. Using Teece’s (2007) influential framework to organize and illustrate our arguments, we demonstrate how the fundamental capabilities of sensing, seizing, and transforming each require firms to harness the cognitive and emotional capacities of individuals and groups to blend effortful forms of analysis with the skilled utilization of less deliberative, intuitive processes. Introduction Over the past two decades, a growing body of work has sought to incorporate the insights of human psychology to refine understanding of a wide variety of topics in strategic management, from the evolution of competitive...
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...CHAPTER 1 Foundations of Strategic Marketing Management The primary purpose of marketing is to create long-term and mutually beneficial exchange relationships between an entity and the publics (individuals and organizations) with which it interacts. Though this fundamental purpose of marketing is timeless, the manner in which organizations undertake it continues to evolve. No longer do marketing managers function solely to direct day-to-day operations; they must make strategic decisions as well. This elevation of marketing perspectives to a strategic position in organizations has resulted in expanded responsibilities for marketing managers. Increasingly, they find themselves involved in charting the direction of the organization and contributing to decisions that will create and sustain a competitive advantage and affect long-term organizational performance. The transition of the marketing manager from being only an implementer to being a maker of organization strategy has resulted in (1) the creation of the chief marketing officer (CMO) position in many organizations and (2) the popularity of strategic marketing management as a course of study and practice. Today, almost onehalf of Fortune 1000 companies have a CMO. Although responsibilities vary across companies, a common expectation is that a CMO will assume a leadership role in defining the mission of the business; analysis of environmental, competitive, and business situations; developing business objectives and goals;...
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...Running head: Hershey’s Sweet Mission Hershey’s Sweet Mission Dr. Sue Low Human Resource Management Foundations April 22, 2012 Recommend the redesign of Hershey’s performance management system to appeal to the diverse groups that it employs My recommendations of the redesign of Hersey’s performance management system to appeal to the diverse group that it employs would be to keep their current designed performance management system. Their redesign system tailors to two definite generations, the baby boomers and the younger generation. Hershey has a system in place in which the baby boomers train and mentor the new millennial worker due to, “the baby boomers tend to be concerned in leaving a legacy, making the world better, so they generally are enthusiastic about mentoring their younger colleagues” (Noe, Hollenbeck, Gerhart, Wright, 2011). The baby boomers are role models, coaches, and advocates for Hershey’s. Mentoring gives them chances to develop their abilities, experience, and wisdom both to their own advantage and that of Hersey’s to train the younger generation employed with the company. Hershey has reshaped its performance management system which is more attractive to the younger generations’ excitement for challenge, autonomy, and results, the redesign was a bottom-up effort, in which individuals within the company set goals and track progress on projects. The system measures not only business results but whether they are achieved in accordance the Hershey’s...
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...Running head: Foundations of Financial Management 1 Foundations of Financial Management Kenneth Discussion Questions Page 46 Professor C. Hogan March 9, 2014 1) Discuss some financial variables that affect the price-earnings ratio? Influence by earnings and by share price changes, Debt-equity, Dividend payment policy, Sales growth, Quality of management, and Risk assessment. 2) What is the difference between book value per share of common stock and market value per share? Why does this disparity occur? Book value is the net worth assigned to common stock divided by the number of common shares outstanding. This is the value from the balance sheet of the net owners’ equity less preferred stock obligations. The market value of the shares is the value the share is traded at. It can also be considered as the earnings per share multiplied by the P/E ratio. 3) Explain how depreciation generates actual cash flows for the company? Depreciation is a non-cash deduction in net-income and should be added back to net income to increase cash balance and for calculating cash flow statement. Depreciation also decreases net income .With lower net income; income tax will be lower thus saving a cash outflow. 4) What is the difference between accumulated depreciation and Depreciation expense and how are they related? Accumulated...
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...initial contribution) Prohibited from active management role Real estate agents, doctors, lawyers, accountants In a corporation which group has ultimate responsibility for protecting and managing stockholders interests? The board of directors What are the disadvantages of a corporation Double taxation of dividends Subchapter S corporation can circumvent this (only up to 35 stockholders) Complex management requirements Costly reporting and structural requirements What is the issue for agency theory? Why is it important for public corporations but not private corporations? Agency theory looks at relationship owners and managers. Competing goals In private corporations managers and owners are usually the same people. Why are institutional investors so important now? They own a large percentage of stock They exercise voting rights and demand board seats Why is profit maximization by itself an inappropriate goal? The time value of money must be considered. The timing of profits can have a big effect on the benefit to the business. Profit is subject to many different measurements which can be manipulated. Changes in profit may represent changes in risk which may cause future problems for the business. Problems of inflation and currency movement also complicate things. What is meant by “Maximization of investor wealth”? Achieving the highest value for the business Stock prices Options for management....
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...Chapter 5 IT Infrastructure and Emerging Technologies IT Infrastructure • Shared technology resources providing platform for specific IS applications • Investment in hardware, software, services (consulting, education, training) • Foundation for serving customers, working with vendors, managing business process • Set of physical devices and software required to operate enterprise • Set of firmwide services o Computing platforms providing computing services (e.g desktop computer, laptop) o Telecommunications services o Data management services (+analyzing) o Application software services (ERP, CRM, SCM, KMS) o Physical facilities management services o IT management (plan infrastr. Coordinate with BU), standards (policies), education (training) , research and development services (future investments) • “Service platform” perspective more accurate view of value of investments Evolution of IT Infrastructure • General-‐purpose mainframe & minicomputer era: 1959 to present ...
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...John B. Lacson Foundation Maritime University-MOLO Coping Mechanism of Students Aides Taking-up Cruise Ship Management at John B. Lacson Foundation Maritime University-Molo, Inc. Research Paper Presented to Ms. Ma. Elena Selguera In Partial fulfilment of the requirement in Writing in Discipline By: Cabrera, Ma. Regine Fresco, Ferlyn Galve, Rhea Joy Hilado, Joycee Laguardia, James Abet Pagunsan, Dara Mae Seberiaga, KeyaJoi Chapter 1: Introduction to the Study Chapter 1 consists of (1) Background of the Study, (2) Statement of the Problem, (3) Hypothesis, (4) Significance of the Study, (5) Definition of Terms, (6) Delimination of the Study. Background of the Study Student jobs have become a sort of trend among students around the world, who want to work while they are studying. Some individuals need to work to sustain their studies. These persons have a positive outlook on their lives and they believe that education is the key to success (Factors Affect the Academic Performance of Selected Working Students). Other reason why student jobs are popular among students is they help to cope up with the constant increase in tuition fees, and a way to afford further educations. Working while attempting to obtain a degree has become a pervasive lifestyle for today’s University students among the reasons contributing to an ever increasing trend of working during education could be the increasing financial pressures from higher college tuition and fees, the necessity...
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...Management Information Systems MANAGING THE DIGITAL FIRM, 12TH EDITION GLOBAL EDITION Chapter 6 FOUNDATIONS OF BUSINESS INTELLIGENCE: DATABASES AND INFORMATION MANAGEMENT Management Information Systems CHAPTER 6: FOUNDATIONS OF BUSINESS INTELLIGENCE: DATABASES AND INFORMATION MANAGEMENT Learning Objectives • Describe how the problems of managing data resources in a traditional file environment are solved by a database management system • Describe the capabilities and value of a database management system • Apply important database design principles • Evaluate tools and technologies for accessing information from databases to improve business performance and decision making • Assess the role of information policy, data administration, and data quality assurance in the management of a firm’s data resources 2 © Pearson Education 2012 Management Information Systems CHAPTER 6: FOUNDATIONS OF BUSINESS INTELLIGENCE: DATABASES AND INFORMATION MANAGEMENT Organizing Data in a Traditional File Environment • File organization concepts – – – – Database: Group of related files File: Group of records of same type Record: Group of related fields Field: Group of characters as word(s) or number • Describes an entity (person, place, thing on which we store information) • Attribute: Each characteristic, or quality, describing entity – E.g., Attributes Date or Grade belong to entity COURSE 3 © Pearson Education 2012 Management Information Systems CHAPTER 6: FOUNDATIONS...
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...Chapter 1 Competing with Operations Foundations of Operations Management, Ritzman & Krajewski © What Is a Process? • Process – Activities that transform inputs, add value and generate output(s) • Examples: – Manufacturing process • Furniture manufacturing: cutting or staining wood – Non-Manufacturing Process • Checking in passengers Foundations of Operations Management, Ritzman & Krajewski © 1-2 Processes & Operations Internal and external customers Inputs • • • • • • • • Workers Managers Equipment Facilities Materials Services Land Energy Processes and operations 1 3 5 2 4 Outputs • Services • Goods Figure 1.1 Information on performance 1-3 Foundations of Operations Management, Ritzman & Krajewski © Nested Processes at a Large Bank BANK Operations Cash Management Loan operations Trading operations Others ATM Support Customer transactions Service quality Others Maintain Cards Research problems Site analysis Others Retail Distribution Compliance Finance Human resources Teller Line Transactions Track branch sales ATM hotline Others Process Deposits Cash checks Safe deposit boxes Others Products Auto Finance Cards Mortgages Others Credit Applications Manage retail products Originate lease portfolio Others Loan Documentation Review credit standing Obtain manager approval Others Wholesale Trading Loan administration Leasing Others Fund Management Market making spot Dealer support Others Prepare Reports Attend meetings...
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...ACCA’S SUITE OF ENTRY-LEVEL ACCOUNTING AWARDS EXPLAINED Foundations in Accountancy 1 2 FOUNDATIONS IN ACCOUNTANCY “The accountancy profession at every level is constantly evolving to meet the needs and demands of how businesses operate and nowhere is this more apparent than at an accounting-support level. The accounting technician of today and tomorrow needs a rigorous and flexible qualification to help them contribute to business performance and an ever-changing business landscape. ACCA’s suite of entry-level awards – Foundations in Accountancy – has been developed after consultation with all our key stakeholders, with employers and students in mind. This suite of qualifications includes a revised Certified Accounting Technician (CAT) Qualification, which will provide employers with access to competent and ethical technicians, trained to consistent standards, with built-in flexibility to allow for skills to be tailored to meet different business needs and environments. And it will offer those starting out in their accountancy career flexible and tailored routes to accounting-support roles, leading to high-performing and rewarding career options for those who progress to the ACCA Qualification.” Aude Leonetti Acting executive director – learning 3 INTRODUCTION ACCA’s entry-level suite of awards – Foundations in Accountancy – is being introduced after detailed consultation which commenced in 2008 with ACCA stakeholders, including employers, learning providers, members...
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...flow, and sources of business financing. Policies Students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Block, B.B., Hirt, G.A., & Danielsen, B.R. (2009). Foundations of financial management (13th ed.). New York, NY: McGraw Hill/Irwin. All electronic materials are available on the student...
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...Project ManagementCourse Name IIL-IPMIIL-XXX Organizational Diversity: The Project Management Products, Programs, and Projects Let’s define each term in more detail… Products Programs Projects Foundation ConceptsModule Name 1 Introduction to Project ManagementCourse Name IIL-IPMIIL-XXX Managing Products, Programs, and Projects Product Management Direction: Product capabilities, features, profitability, customers Data: Product capabilities, requirements, schedule, costs Program Management Direction: Program-level budget, priorities Data: Project resources, estimates, risks, schedule Project Management Standard Project Management Processes Monitoring & Controlling Processes Planning Processes Initiating Processes Closing Processes Executing Processes PMBOK® Guide – Fourth Edition, p. 40 Foundation ConceptsModule Name 2 Introduction to Project ManagementCourse Name IIL-IPMIIL-XXX Sample Project Life Cycle Define Design & Plan Develop Implement Closeout Across the Project Life Cycle Initiating Process Group G Level of Process Interaction Planning Process Group G Executing Process Group G Monitoring and Control Process Group P G Closing Process Group G Start Define Time Design & Plan Develop Adapted from Figure 3-2, Implement PMBOK® Finish Closeout Guide – Fourth Edition, p. 41 Foundation ConceptsModule Name 3 Introduction to Project ManagementCourse Name IIL-IPMIIL-XXX ...
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