Read the summary and the most important questions on Fundamentals of Management Essential Concepts and Applications | 9780133499971 | Stephen P Robbins; David A. DeCenzo; Mary Coulter

• 1 Managers and management

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• Managers and efficiency &effectiveness

  • Concepts are different but interrelated
  • It's easier to be effective if you ignore efficiency
  • Poor management is often due to inefficiency and ineffectiveness or effectiveness achieved without efficiency
  • Good management is concerned with both attaining goals and doing so as efficiently as possible

• Why do we have different managers?

  • Because of specialization
  • Because of span of control

• What are technical skills?

  Job-specific knowledge and techniques needed to perform work tasks

• 2 The management environment

• 2.2 How Does the External Environment affect managers

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• To asses environmental uncertainty, what can a manager use?

  Evironmental uncertainty matrix

• What are different stakeholders from an organization?

  • Employees
  • Customers
  • Social an political action groups
  • Competitors
  • Trade and Industry associations
  • Governments
  • Media
  • Suppliers
  • Communities
  • Shareholders
  • Unions

• Why should managers care about stakeholder relationships?

  • Good relationships can positively affect organizational performance
  • It's the right thing to do because an organization depends on external groups as sources of input.
  • Create and reinforce a positive image of the organization among its stakeholders and community. 

• 3 Integrative managerial issues

• 3.1 What is globalization and how does it affect organizations?

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• What is a global village?

  A boundary less world where goods and services are produced and marketed worldwide

• What are characteristics of an multidomestic corporation?

  An MNC in which management and other decisions are decentralized to the local country in which it is operating.
  
  

  • Rely on local employees to manage the business
  • Tailor strategies to each country's unique characteristics
  • Uses by many consumer product companies

• What are characteristics of an transnational organization?

  An MNC where artificial geographical boundaries are limited
  
  

  • Country of origin or where business is conducted becomes irrelevant
  • Increases efficiency and effectiveness in a competitive global market place

• Arguments for and against social responsibility

  FOR
  

  • Public expectations
  • Long-run profits
  • Ethical obligation
  • Public image
  • Better environment
  • Discouragement of further governmental regulation
  • Balance of responsibility an power
  • Stockholder interests
  • Possession of resources
  • Superiority of prevention over cures

  
  AGAINST
  

  • Violation of profit maximization
  • Dilution of purpose
  • Costs
  • Too much power
  • Lack of skills
  • Lack of accountability