Falcon Invoice Discounting: Empowering Your Business Growth
Contemporary management theory
1.
2. is a class of behavioral theory that
claims that there is no best way to
organize a corporation, to lead a
company, or to make decisions.
Instead, the optimal course of
action is contingent (dependent)
upon the internal and external
situation.
3. argued that technologies directly
determine differences in such
organizational attributes as span of
control, centralization of authority,
and the formalization of rules and
procedures.
4. 1. Technology
2. Suppliers and distributors
3. Consumer interest groups
4. Customers and competitors
5. Government
6. Unions
5. describes the main ideas underlying contingency
in a nutshell:
Organizations are open systems that need
careful management to satisfy and balance
internal needs and to adapt to environmental
circumstances
There is no one best way of organizing. The
appropriate form depends on the kind of task
or environment one is dealing with.
Management must be concerned, above all
else, with achieving alignments and good fits
Different types or species of organizations are
needed in different types of environments
6. focused on a contingency model of
leadership in organizations. This model
contains the relationship between
leadership style and the favorableness of
the situation. Situational favorableness
was described by Fiedler in terms of
three empirically derived dimensions
7. leader-member relationship
the most important variable in determining the
situation's favorableness
referring to the degree of mutual trust, respect
and confidence between the leader and the
subordinates.
the leader is generally accepted and
respected by followers
8.
9. the second most important input into the
favorableness of the situation
referring to the extent to which group
tasks are clear and structured
the task is very structured
10. obtained through formal authority, which
is the third most important dimension of
the situation
referring to the power inherent in the
leader's position itself
if a great deal of authority and power
are formally attributed to the leader's
position
11.
12. Management and
Decision Making
The task of rational
decision making is to
select the alternative
that results in the
more preferred set of
all the possible
consequences. A
specific organization
has to deliberately
determine and
specify in appropriate
detail and clear
language its own
goals, objectives,
means, ends, and
values.
13. Managers are constantly called upon to make
decisions in order to solve problems. Decision
making and problem solving are ongoing
processes of evaluating situations or problems,
considering alternatives, making choices, and
following them up with the necessary actions.
Sometimes the decision-making process is
extremely short, and mental reflection is essentially
instantaneous. In other situations, the process can
drag on for weeks or even months. The entire
decision-making process is dependent upon the
right information being available to the right
people at the right times.
14. Symptoms Underlying Problem
Low profits and/or declining sales Poor market research
High costs Poor design process; poorly trained
employees
Low morale Lack of communication between
management and subordinates
High employee turnover Rate of pay too low; job design not
suitable
High rate of absenteeism Employees believe that they are
not valued
15. Quite literally, organizations operate by
people making decisions. A manager
plans, organizes, staffs, leads, and
controls her team by executing
decisions. The effectiveness and quality
of those decisions determine how
successful a manager will be.
16. The decision-making process involves the following steps:
1. Define the problem.
2. Identify limiting factors.
3. Develop potential alternatives.
4. Analyze the alternatives.
5. Select the best alternative.
6. Implement the decision.
7. Establish a control and evaluation system.
17.
18. managers need to have
the ideal resources —
information, time,
personnel, equipment,
and supplies — and
identify any limiting
factors. Realistically,
managers operate in an
environment that
normally doesn't
provide ideal resources.
satisfice — to make the
best decision possible
with the information,
resources, and time
available
19. brainstorming - one of the best known
methods for developing alternatives is
through
Brainstorming usually requires 30
minutes to an hour. The following
specific rules should be followed during
brainstorming sessions:
Concentrate on the problem at hand -
keeps the discussion very specific
Entertain all ideas - the more ideas, the
better. Encouragement to freely offer
all thoughts on the subject is important
and to present ideas no matter how
ridiculous they seem
Refrain from allowing members to
evaluate others' ideas on the spot. All
judgments should be deferred until all
thoughts are presented, and the group
concurs on the best ideas.
20. Determine the pros & cons
Perform a cost-benefit analysis
Weigh each factor important in
the decision, ranking each
alternative relative to its ability to
meet each factor
The alternative should meet:
Feasibility — Can it be done?
Effectiveness — How well does it
resolve the problem situation?
Consequences — What will be its
costs (financial and non)to the
organization?
21. The best alternative is
the one that produces
the most advantages
and the fewest serious
disadvantages, such as
the alternative with the
most pros and fewest
cons
In cases where
chances of success
takes place, a
manager simply selects
the alternative with the
highest probability of
success.
22. Managers are paid to make
decisions, but they are also
paid to get results from these
decisions. Positive results
must follow decisions.
Everyone involved with the
decision must know his or her
role in ensuring a successful
outcome. To make certain
that employees understand
their roles, managers must
thoughtfully devise
programs, procedures, rules,
or policies to help aid them
in the problem-solving
process.
23. Ongoing actions need
to be monitored. An
evaluation system
should provide
feedback on how well
the decision is being
implemented, what
the results are, and
what adjustments are
necessary to get the
results that were
intended when the
solution was chosen
24. Was the original problem resolved?
If a manager's plan hasn't resolved the problem
Was the wrong alternative selected?
Was the correct alternative selected, but
implemented improperly?
Was the original problem identified
incorrectly?
Has the implemented alternative been given
enough time to be successful?
25.
26. Maslow’s
Hierarchy of
Needs
a theory of
psychological
health
predicated
on fulfilling
innate human
needs in
priority,
culminating in
self-
actualization.
27. According to Maslow, self-actualising people share the
following qualities:
Truth: honest, reality, beauty, pure, clean and
unadulterated completeness
Goodness: rightness, desirability, uprightness,
benevolence, honesty
Beauty: rightness, form, aliveness, simplicity, richness,
wholeness, perfection, completion,
Wholeness: unity, integration, tendency to oneness,
interconnectedness, simplicity, organization, structure,
order, not dissociated, synergy
Dichotomy-transcendence: acceptance, resolution,
integration, polarities, opposites, contradictions
Aliveness: process, not-deadness, spontaneity, self-
regulation, full-functioning
Unique: idiosyncrasy, individuality, non comparability,
novelty
28. Perfection: nothing superfluous, nothing lacking,
everything in its right place, just-rightness, suitability,
justice
Necessity: inevitability: it must be just that way, not
changed in any slightest way
Completion: ending, justice, fulfillment
Justice: fairness, suitability, disinterestedness,
nonpartiality,
Order: lawfulness, rightness, perfectly arranged
Simplicity: nakedness, abstract, essential skeletal,
bluntness
Richness: differentiation, complexity, intricacy, totality
Effortlessness: ease; lack of strain, striving, or difficulty
Playfulness: fun, joy, amusement
Self-sufficiency: autonomy, independence, self-
determining.
29.
30. Maslow described human needs as ordered in a
prepotent hierarchy—a pressing need would need to
be mostly satisfied before someone would give their
attention to the next highest need.
Maslow described human needs as being relatively
fluid—with many needs being present in a person
simultaneously.
The hierarchy of human needs model suggests that
human needs will only be fulfilled one level at a time.
According to Maslow's theory, when a human being
ascends the levels of the hierarchy having fulfilled
the needs in the hierarchy, one may eventually
achieve self-actualization. However, late in his life,
Maslow came to conclude that self-actualization
was not an automatic outcome of satisfying the other
human needs
31. The first four levels are known as 'Deficit
needs' or 'D-needs'. This means that if you
don't have enough of one of those 4 needs,
you'll have the feeling that you need to get
it. But when you do get them then you feel
content. These needs alone are not
motivating.
Metamotivation
Maslow used the term metamotivation to
describe self actualized people who are
driven by innate forces beyond their basic
needs, so that they may explore and reach
their full human potential.
33. As a manager, you probably fulfill
many different roles every day: as well
as leading your team, you might find
yourself resolving a conflict,
negotiating new contracts,
representing your department at a
board meeting, or approving a
request for a new computer system.
Put simply, you're constantly switching
roles as tasks, situations, and
expectations change.
34. Mintzberg published his Ten Management Roles in his
book, "Mintzberg on Management: Inside our Strange
World of Organizations," in 1990.
The ten roles are:
Figurehead. Spokesperson.
Leader. Entrepreneur.
Liaison. Disturbance Handler.
Monitor. Resource Allocator.
Disseminator. Negotiator.
36. The roles in this category involve providing information and
ideas.
Figurehead - As a manager, you have social, ceremonial and
legal responsibilities. You're expected to be a source of
inspiration. People look up to you as a person with authority,
and as a figurehead.
Leader - This is where you provide leadership for your team,
your department or perhaps your entire organization; and it's
where you manage the performance and responsibilities of
everyone in the group.
Liaison - Managers must communicate with internal and
external contacts. You need to be able to network effectively
on behalf of your organization.
37. The roles in this category involve processing information.
Monitor - In this role, you regularly seek out information related
to your organization and industry, looking for relevant changes
in the environment. You also monitor your team, in terms of
both their productivity, and their well-being.
Disseminator - This is where you communicate potentially
useful information to your colleagues and your team.
Spokesperson - Managers represent and speak for their
organization. In this role you're responsible for transmitting
information about your organization and its goals to the
people outside it.
38. The roles in this category involve using information.
Entrepreneur - As a manager, you create and control
change within the organization. This means solving
problems, generating new ideas, and implementing them.
Disturbance Handler - When an organization or team hits an
unexpected roadblock, it's the manager who must take
charge. You also need to help mediate disputes within it.
Resource Allocator - You'll also need to determine where
organizational resources are best applied. This involves
allocating funding, as well as assigning staff and other
organizational resources.
Negotiator - You may be needed to take part in, and direct,
important negotiations within your team, department, or
organization.
39. Statement
Not
at all
Rarely
Some
times
Often
Very
Often
1 When assigning tasks, I consider
people’s skills and interests.
2 I doubt myself and my ability to
succeed.
3 I expect nothing less than top-
notch results from people.
4 I expect higher quality work from
my people than I sometimes
deliver myself.
5 When someone is upset, I try to
understand how he or she is
feeling.
6 When circumstances change, I
can struggle to know what to do.
40. Statement
Not
at all
Rarely
Some
times
Often
Very
Often
7 I think that personal feelings
should be allowed to get in
the way of performance and
productivity.
8 I am highly motivated
because I know I have what
it takes to be successful.
9 Time spent worrying about
team morale is time that’s
wasted.
10 I get upset and worried quite
often in the workplace.
11 My actions show people
what I want from them.
12 When working with a team, I
encourage everyone to work
toward the same goal.
41. Statement
Not
at all
Rarely
Some
times
Often
Very
Often
13 I make exceptions to my rules and
expectations – it’s easier than
being the enforcer all the time!
14 I enjoy planning for the future.
15 I feel threatened when someone
criticizes me.
16 I take time to learn what people
need from me so they can be
successful.
17 I’m optimistic about life, and I can
see beyond temporary setbacks
and problems.
18 I think that teams perform best
when individuals keep doing the
same tasks and perfecting them,
instead of learning new skills and
challenging themselves.
42. Score Comment
18-34
You need to work hard on your leadership skills. The
good news is that if you use more of these skills at work,
at home, and in the community, you'll be a real asset to
the people around you. You can do it – and now is a
great time to start!
35-52
You're doing OK as a leader, but you have the potential
to do much better. While you've built the foundation of
effective leadership, this is your opportunity to improve
your skills, and become the best you can be.
53-90
Excellent! You're well on your way to becoming a good
leader. However, you can never be too good at
leadership or too experienced
44. Herzberg proposed the Motivation-Hygiene
Theory, also known as the Two factor theory
(1959) of job satisfaction. According to his
theory, people are influenced by two sets of
factors: those causing job satisfaction (and
presumably motivation) and those causing
job dissatisfaction. He called the satisfiers the
motivators and the dissatisfiers the hygiene
factors. Using the term hygiene in the sense
that they are considered maintenance
factors that are necessary to avoid
dissatisfaction but that by themselves do not
provide satisfaction.
45. Motivator Factors
(Leading to Satisfaction)
Hygiene Factors
(Leading to Dissatisfaction)
•Achievement
•Recognition
•Work Itself
•Responsibility
•Promotion /
Advancement
•Growth
•Pay and Benefits
•Company Policy and
Administration
•Relationship with the boss
•Relationships with co-
workers
•Supervision
•Work conditions
The distinction between the two opposites portray
the two distinct human needs. First, there are
physiological needs that can be fulfilled by
money to purchase food and shelter. Second,
there is the psychological need to achieve and
grow ad this need is fulfilled by activities that
cause one to grow.
46. Theory x and
Theory Y
McGregor identified
the people belonging
to the first category as
the managers who
would focus more on
authoritative
approach to
management (Theory
X), while those falling
in the second
category as the one
who would focus
more on self-control
by the workers (Theory
Y).
47. management assumes employees are:
› inherently lazy
› will avoid work if they can
› they inherently dislike work
› show little ambition without an enticing incentive
program
› will avoid responsibility whenever they can
management believes that workers need to
be closely supervised and comprehensive
systems of controls developed
if the organizational goals are to be met,
theory X managers rely heavily on threat and
coercion to gain their employees' compliance
48. Beliefs of this theory lead to:
› mistrust
› highly restrictive supervision
› a punitive atmosphere
› blaming someone in the end
49. management assumes employees to be:
› ambitious
› self motivated
› exercise self-control
› enjoying their mental and physical work duties
› creative problem solvers
› viewing work as natural as play
theory Y managers believe that employees
will learn to seek out and accept
responsibility and to exercise self-control
and self-direction in accomplishing
objectives to which they are committed
50. A Theory Y manager believes that:
› most people will want to do well at work
› the satisfaction of doing a good job is a strong
motivation
› Theory Y as a positive set of beliefs about
workers
HUMAN RESOURCE DEVELOPMENT includes:
› managers communicating openly with
subordinates
› minimizing the difference between superior-
subordinate relationships
› creating a comfortable environment in which
subordinates can develop and use their abilities
51. This theory would lead to:
› trust
› sharing of decision making
› having subordinates have a say in decisions
that influence them
52.
53. Theory Z
Theory Z focused
on increasing
employee loyalty
to the company
by providing a job
for life with a
strong focus on the
well-being of the
employee, both
on and off the job
promoting stable
employment, high
productivity, and
high employee
morale and
satisfaction
54. Japanese consensus management style
based on the assumptions that:
› employees want to build cooperative relationships
with their employers, peers, and other employees in
the firm; for this they
› require high degree of support in the form of secure
employment and facilities for development of
multiple skills through training and job rotation
› they value family life, culture and traditions, and
social institutions as much as material success
› they have well-developed sense of dedication,
moral obligations, and self-discipline
› they can make collective decisions through
consensus
55. Theory Z include:
› an improvement of people skills
› empowering employees
› stimulating change
› helping employees balance work with life
conflicts
› improving ethical behavior
companies using these theories have
shown improvements in:
› turnover rates
› productivity
› effectiveness
› efficiency
› organizational behavior
› job satisfaction