BUS 1101<management-principles-v 1.-REVIEWED AND EDITED BY EXPERTS 2021

Table of Contents About the Authors................................................................................................................. 1 Acknowledgments.................................................... ...

Table of Contents About the Authors................................................................................................................. 1 Acknowledgments................................................................................................................. 3 Dedications............................................................................................................................. 6 Preface..................................................................................................................................... 7 Chapter 1: Introduction to Principles of Management............................................... 10 Case in Point: Doing Good as a Core Business Strategy............................................................................ 13 Who Are Managers?..................................................................................................................................... 17 Leadership, Entrepreneurship, and Strategy............................................................................................ 23 Planning, Organizing, Leading, and Controlling ...................................................................................... 31 Economic, Social, and Environmental Performance ................................................................................ 37 Performance of Individuals and Groups.................................................................................................... 43 Your Principles of Management Survivor’s Guide ................................................................................... 49 Chapter 2: Personality, Attitudes, and Work Behaviors ............................................ 63 Case in Point: SAS Institute Invests in Employees.................................................................................... 66 Personality and Values................................................................................................................................ 70 Perception..................................................................................................................................................... 88 Work Attitudes ............................................................................................................................................. 96 The Interactionist Perspective: The Role of Fit ...................................................................................... 102 Work Behaviors .......................................................................................................................................... 105 Developing Your Positive Attitude Skills ................................................................................................ 119 Chapter 3: History, Globalization, and Values-Based Leadership.......................... 121 Case in Point: Hanna Andersson Corporation Changes for Good ......................................................... 123 Ancient History: Management Through the 1990s................................................................................. 127 Contemporary Principles of Management .............................................................................................. 135 Global Trends.............................................................................................................................................. 141 Globalization and Principles of Management ......................................................................................... 149 Developing Your Values-Based Leadership Skills .................................................................................. 155 iiiChapter 4: Developing Mission, Vision, and Values .................................................. 161 Case in Point: Xerox Motivates Employees for Success ......................................................................... 164 The Roles of Mission, Vision, and Values ................................................................................................ 167 Mission and Vision in the P-O-L-C Framework....................................................................................... 172 Creativity and Passion ............................................................................................................................... 180 Stakeholders ............................................................................................................................................... 191 Crafting Mission and Vision Statements ................................................................................................. 198 Developing Your Personal Mission and Vision ....................................................................................... 206 Chapter 5: Strategizing.................................................................................................... 216 Case in Point: Unnamed Publisher Transforms Textbook Industry ..................................................... 219 Strategic Management in the P-O-L-C Framework ................................................................................ 224 How Do Strategies Emerge? ...................................................................................................................... 233 Strategy as Trade-Offs, Discipline, and Focus ......................................................................................... 237 Developing Strategy Through Internal Analysis .................................................................................... 248 Developing Strategy Through External Analysis.................................................................................... 260 Formulating Organizational and Personal Strategy With the Strategy Diamond ..............................272 Chapter 6: Goals and Objectives..................................................................................... 281 Case in Point: Nucor Aligns Company Goals With Employee Goals ...................................................... 283 The Nature of Goals and Objectives ......................................................................................................... 286 From Management by Objectives to the Balanced Scorecard ............................................................... 291 Characteristics of Effective Goals and Objectives ................................................................................... 300 Using Goals and Objectives in Employee Performance Evaluation ...................................................... 307 Integrating Goals and Objectives with Corporate Social Responsibility ..............................................314 Your Personal Balanced Scorecard .......................................................................................................... 322 Chapter 7: Organizational Structure and Change...................................................... 329 Case in Point: Toyota Struggles With Organizational Structure........................................................... 331 Organizational Structure .......................................................................................................................... 335 Contemporary Forms of Organizational Structures............................................................................... 344 Organizational Change .............................................................................................................................. 349 Planning and Executing Change Effectively............................................................................................ 361 Building Your Change Management Skills .............................................................................................. 368 Chapter 8: Organizational Culture ................................................................................ 370 Case in Point: Google Creates Unique Culture ........................................................................................ 372 Understanding Organizational Culture ................................................................................................... 376 Measuring Organizational Culture........................................................................................................... 380 Creating and Maintaining Organizational Culture................................................................................. 389 Creating Culture Change ........................................................................................................................... 405 Developing Your Personal Skills: Learning to Fit In............................................................................... 410 ivChapter 9: Social Networks............................................................................................. 413 Case in Point: Networking Powers Relationships ................................................................................... 416 An Introduction to the Lexicon of Social Networks ............................................................................... 419 How Managers Can Use Social Networks to Create Value ..................................................................... 425 Ethical Considerations With Social Network Analysis ........................................................................... 437 Personal, Operational, and Strategic Networks...................................................................................... 445 Mapping and Your Own Social Network.................................................................................................. 452 Chapter 10: Leading People and Organizations.......................................................... 459 Case in Point: Indra Nooyi Draws on Vision and Values to Lead .......................................................... 462 Who Is a Leader? Trait Approaches to Leadership ................................................................................. 466 What Do Leaders Do? Behavioral Approaches to Leadership................................................................ 472 What Is the Role of the Context? Contingency Approaches to Leadership .........................................477 Contemporary Approaches to Leadership............................................................................................... 487 Developing Your Leadership Skills .......................................................................................................... 502 Chapter 11: Decision Making.......................................................................................... 506 Case in Point: Bernard Ebbers Creates Biased Decision Making at WorldCom ...................................508 Understanding Decision Making .............................................................................................................. 512 Faulty Decision Making ............................................................................................................................. 528 Decision Making in Groups ....................................................................................................................... 533 Developing Your Personal Decision-Making Skills................................................................................. 541 Chapter 12: Communication in Organizations ........................................................... 543 Case in Point: Edward Jones Communicates Caring ............................................................................... 545 Understanding Communication ............................................................................................................... 548 Communication Barriers........................................................................................................................... 554 Different Types of Communication.......................................................................................................... 567 Communication Channels ......................................................................................................................... 575 Developing Your Personal Communication Skills .................................................................................. 586 Chapter 13: Managing Groups and Teams ................................................................... 591 Case in Point: General Electric Allows Teamwork to Take Flight ......................................................... 593 Group Dynamics ......................................................................................................................................... 596 Understanding Team Design Characteristics.......................................................................................... 607 Organizing Effective Teams ...................................................................................................................... 623 Barriers to Effective Teams....................................................................................................................... 630 Developing Your Team Skills .................................................................................................................... 633 vChapter 14: Motivating Employees ............................................................................... 635 Case in Point: Zappos Creates a Motivating Place to Work ................................................................... 638 Need-Based Theories of Motivation......................................................................................................... 641 Process-Based Theories ............................................................................................................................. 650 Developing Your Personal Motivation Skills .......................................................................................... 671 Chapter 15: The Essentials of Control .......................................................................... 674 Case in Point: Newell Rubbermaid Leverages Cost Controls to Grow................................................... 676 Organizational Control.............................................................................................................................. 679 Types and Levels of Control...................................................................................................................... 690 Financial Controls ...................................................................................................................................... 696 Nonfinancial Controls................................................................................................................................ 706 Lean Control ............................................................................................................................................... 714 Crafting Your Balanced Scorecard ........................................................................................................... 721 Chapter 16: Strategic Human Resource Management .............................................. 727 Case in Point: Kronos Uses Science to Find the Ideal Employee ........................................................... 730 The Changing Role of Strategic Human Resource Management in Principles of Management ........733 The War for Talent..................................................................................................................................... 740 Effective Selection and Placement Strategies......................................................................................... 746 The Roles of Pay Structure and Pay for Performance............................................................................ 753 Designing a High-Performance Work System......................................................................................... 760 Tying It All Together—Using the HR Balanced Scorecard to Gauge and Manage Human Capital, Including Your Own................................................................................................................................... 767 v