BUS1101 - Week 1 : Introduction to the Principles of Management

BUS1101: Principles of Business Management
Week 1: Introduction to the Principles of Management
02 September - 08 September, 2021

Overview

Unit 1: Introduction to the Principles of Management

Topics:

  • Managers and the nature of their work.

  • Overview of leadership, entrepreneurship, and strategy.

  • The planning-organizing-leading-controlling (P-O-L-C) framework.

  • Economic, social, and environmental performance.

  • Individual and group-level performance.

  • Goal setting using SMART, —specific, measurable, aggressive, realistic, and time-bound.

Learning Objectives:

By the end of this Unit, you will be able to:

  • Examine management and its characteristics.

  • Reflect on personal skills and knowledge related to management.

  • Apply goal-setting techniques in your own professional development.

Introduction

The material in this unit will provide an overview of the role of the manager in the business world. It will also consider the possibilities for leadership in the business world. You will learn the basic managerial concepts of planning, organizing, leading, and controlling. The unit will focus on the importance of performance as an outcome of business activity. The concepts will be explored on an individual and organizational level. You will consider how your own management or workplace experience relates to the theory and application in this unit.

In the reading for Unit 1, you will be introduced to some basic concepts of management. Keep in mind that both large and small businesses need good managers and good management practices. In the past, the family business was the mainstay of commerce. Today there are many public companies that are owned by shareholders. It is public companies as well as larger privately owned businesses that employ managers. Managers are entrusted with the responsibility of running the business by its owners. Managers are also needed in entrepreneurial organizations and in non-profit organizations. The overview you receive this week will establish a foundation for learning managerial skills in the weeks to come.

Reading Assignment

Carpenter, M., Bauer, T., & Erdogan, B. (2010). Management principles, v. 1.1. https://2012books.lardbucket.org/books/management-principles-v1.1/index.html. You can download the PDF version from the course homepage.

Chapter 1

Introduction Discussion

Introduce yourself in the Course Forum (located in the General Information area at the top of the course homepage)

Create a post introducing yourself to your classmates. In addition to your introduction, answer the following:

  • What skills and/or knowledge related to management do you have at this time?

  • What do you want to learn during the course?

Visit the Course Forum throughout the first week to respond to fellow classmates’ posts and respond

Discussion Assignment

The text defines management as “The art of getting things done through the efforts of other people.” Put yourself in the shoes of a manager and explain what this definition means in the context of a company operation. You can use the example of any company (large or small) and any good or service.

Please answer in 150 words or more. Use your own words - please do not copy and paste from a website. Be sure to reference your sources.

Then, engage in a dialogue with your classmates on the above question and any other perspectives you have on the above topics. You are expected to make at least three response posts to the discussion board during the course of the discussion period and rate your classmates’ posts.

Don’t forget to rate the postings of your classmates according to the Rating Guidelines. Review the Discussion Forum rating guidelines to see how your classmates will be rating your post.

Reference

Carpenter, M., Bauer, T., & Erdogan, B. (2010). Management principles, v. 1.1. https://2012books.lardbucket.org/books/management-principles-v1.1/index.html

My Work

To achieve a goal or get things done within a company or a team, we requires to have more than individual's talents, skill-sets, intelligence, and expertise. We might have a team of the most talented individuals, but our team still can't progress toward the goals if each member can't collaboratively work together in an effective and efficient manner.

The role of a manager is to orchestrate a team to perform the best opera possible. That could involve many crucial managing skills like the ability to develop a vision and mission, set goals, delegate tasks, motivate team members, communicate and resolve conflicts, solve problems, and make sure that everything or everyone is on track. With this kind of ability and work, I think that managers also put all of efforts which contributes in the success of a company or a team.

Thus, I don't agree 100% with the definition, "The art of getting things done through the efforts of other people", because it seems to give a false narrative, which describes a manager as someone, who doesn't really do anything a part from using others to get the work done.

Let me give a real example. I used to work in a company where the CEO is very good at coming up with a compelling vision and mission, raising huge million dollars capital, and recruiting young passionate individuals, but he just isn't good at communicating among his subordinates and beyond. Simply put, he is incapable of maintaining the human resources within the company. That results in a high workforce turnover rate.

Learning Journal

In Chapter 1 of the text, goal setting is discussed. Select a business-related or professional goal (e.g. lose weight, complete a course of study, find a new job, etc.) you want to achieve in the next 12 months. Address each part of the SMART technique -- Specific, Measurable, Achievable, Realistic, and Time-bound– providing relevant details about the goal for each component of the goal-setting process.

Be sure that your Learning Journal entry is a minimum of 500 words.

Note: Please submit only when completed, by the end of the Unit. The Learning Journal forms part of the formal final grade and is intended to help students organize, consolidate and record their thoughts, activities, and accomplishments. It also allows the course Instructor to get a sense of how a student is progressing and what he/she has done beyond the mandatory assignments. Remember that only you and your instructor will have access to your Learning Journal.

My Work

SMART Goal technique teaches us how to set a goal that is specific, measurable, achievable, realistic and time-bound. To do so, we need to address the who, what, when, where, and why of the goal. In this case, the “who” is going to be me. I am the person who is setting the goal for myself. The “what” is going to be “ to transfer from University of the People to McGill University and to change my degree from Business Administration to Agro-Environmental Science”. The “where” is going to be “at McGill University in Canada”. The “who”, “what”, and “where” help me make sure that my goal is specific, measurable, and achievable.

Then there comes the “why”, why am I setting this goal? I want to know that my goal is realistic or relevant to my purpose in life or my dream. I set this goal because I want to physically and intellectually expose myself to different cultures, diverse groups of intellectual, and world-class higher education. With this exposure, I believe that I can make potential connections and discussions, which can lead to great ideas or solutions to current world problems and future collaborating works or projects.

In additon, my knowledge gained from McGill University, one of the top universities in the world, will equip me with competency, tools, and creativity to solve problems and work toward achieving my dream of creating a natural agriculture institute. This natural agriculture institute will consist of an agriculture academy, a farm business, a farm trial for scientific research, a social business incubation center, and a media department.

 The vision of the institute is to awaken each other through lifelong self-education for a fulfilling life. I truly believe that through continuous self-education, we all can research, study, think, act, and share the our journey to awaken one another when it comes to agriculture, business, technology, and education. By "fulfilling life" I mean we should have joy and pride for our work. I believe that working in service of humanity and mother nature will bring us the joy and pride, which can lead us to living a fulfilling life.

Through self-education we will be able to awaken ourselves to transform from conventional chemical farming to a more sustainable farming, from conventional profit-maximizing business to non-dividend impact driven business, from too much technology to appropriate technology, from degree seeking education to purpose driven education. This “why” will serve me as a motivation to get through tough times.

Last but not least, to make my goal time-bound I need to set a deadline. Since I have just started my education journey at UoPeople, I still have about 2 years to finish all my required courses for an associate degree. When I graduate with my associate degree, I then can apply to transfer to McGill University. With this information, I set my goal to be achieved by the end of 2023.

In conclusion, by the end of 2023, I want to transfer from the University of the People to finish my bachelor degree on campus at McGill University in Canada, and change my major from Business Administration to Agro-Environmental Science because I believe that this opportunity will give me a crucial exposure to diverse knowledge, connections, cultures, and ideas, which will help me achieve my dream of creating a natural agriculture institute to educate, advocate, and invest in agricultural business ideas or practices that sustainably produce food to feed the world and regenerate our eco-system.

 


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