Management, Part 1
How can managers keep pace with the changes in today's business world? Can the study of management principles really help you become a better manager? How do factors inside and outside the organizational affect the management of employees? This week, you will reflect on such questions and begin to explore answers.
After completing this lesson, you should be able to:
- List the four functions of management and the roles of a manager
- Describe what corporate culture is and how it can impact an organization
- Identify the external factors that affect corporate growth
- Evaluate the impact of population, economics, sociocultural change, technology and legislation on industry growth
- Discuss internal components of corporate management and how they can affect the organization
- Define entrepreneurship and the various business models such as the shareholder and the stakeholder models
- Describe the basics of launching a new venture or product line including the risks and rewards
- Compare the legal structures of new companies and different methods of financing available
Professor's Notes
Introduction to Instructor
Here you will meet your instructor for the management segment of the course. Scott Benjamin will share his business experience to illustrate the key topics to be covered in the course. You will also have a chance to test your critical thinking skills.
Introduction to Management Essentials
This lecture describes the topics to be covered in the management segment of the course and explains the learning management process. It also introduces the key components of managing an organization.
What is Management?
This lecture explains what managers do by providing a macro level view of how management works in an organization - including a description of the four management functions.
The Environment
In this lecture, we will examine the relationship between the external environment and the organization. We will also examine the manager's role in dealing with uncertainty in the environment.
The Internal Environment
In this lecture, we will discuss the importance of establishing a strong internal culture that reflects the goals of the organization and how to manage a high-performance culture.
Entrepreneurship
This lecture defines what entrepreneurship is, describes the characteristics of entrepreneurs, compares corporate and social entrepreneurship, and links entrepreneurship and organizational management.
The Launch
In this lecture, you will investigate a process for launching an entrepreneurial start-up including writing a business plan, choosing a legal structure, and arranging financing.
Read Textbook
BUS 5602: Essentials of Business Development 2
Management
- Chapter 1 – Introduction to Management
- Chapter 3 – The Environment of Corporate Culture
- Chapter 6 – Managing Small Business Start-Ups
Read Case
"Crown, Cork & Seal in 1989"
Use the Harvard Business Case, “Crown, Cork & Seal in 1989" as the basis for answering the following questions:
- Describe the industry structure. Include things such as competition, suppliers, material changes, pricing, etc. Make your answer somewhat predictive of how you believe the industry is evolving.
- Talk about the management of Connelly and his role in making Crown, Cork and Seal competitive.
Post your replies to this week's discussion board
Due Sunday, 11:59 PM, ET