Week 1 Introduction to Technopreneurial Management.pptx

Innovation in Tech programs

1. HIT 2101 TECHNOPRENEURSHIP III WEEK 1: INTRODUCTION TO TECHNOPRENEURIAL MANAGEMENT

2. Lecture Contents Definition of Management Explain Schools of management thought Describe the changes in the schools and how they have helped the management process and functions Identify the best management school that best suit your organization

3. Definition Management is the organization and coordination of the activities of a business (or some other formal organizational setting) in order to achieve defined aims and objectives . Art of getting things done through people Aims - long term, general obligation taken, statement of intent Objectives - short term, more specific statement means of achieving set plans and should be SMART.

4. SMART Specific - identifying key aspects of performance that can be measured Measurable - aspects of performance should be quantified Achievable - specified outcome that is capable of being met Realistic - specified outcome that is real Timely - time frame set for achieving stated outcomes

5. Other definitions of management Art of doing things through people Process of planning, organising , leading and controlling to make things happen thus attaining organisational objectives. The process of planning, organizing, leading and controlling resources to achieve organizational goals effectively and efficiently. Organization – made up from 2 or more people that is goal directed and deliberately structured.

6. Characteristics of management Management is a distinct process It is an organized activity Aims at accomplishing objectives Is both a science and art Is a group activity Integrates humans and other resources

7. Why study management The more you work with people the better you become successful both in personal and professional development You know how to hire and manage the organization Employees know how to relate with their supervisors Builds skills through participating with others Fosters team work and decision making process Encourages communication and interaction with other people Goals and plans are easy to set resulting in prioritization of these.

8. Chronological Development of Management Perspectives

9. A) CLASSICAL PERSPECTIVES Classical approach to management resulted from the first significant, concentrated effort to develop a body of management thought. Management writers who participated in this efforts are considered the pioneer of management study.

10. Subfields of the Classical Perspective on Management Focuses on the individual worker’s productivity Focuses on the overall organizational system Focuses on the functions of management

11. Scientific Management Introduced by Frederick Winslow Taylor . Focus on increasing the efficiency of production processes in order to enhance organizational productivity. Introduced differential rate compensation system whereby more productive workers received a higher pay rate. Three areas of focus: 1) Task Performance, 2) Supervision, 3) Motivation

12. Administrative management Henri Fayol (1841–1925) First recognized that successful managers had to understand the basic managerial functions. Developed a set of 14 general principles of management. Fayol’s managerial functions of planning, leading, organizing and controlling are routinely used in modern organizations. To find the principles and guidelines for determining how to manage systematically and effectively.

13. Bureaucratic management Focuses on the overall organizational system. Bureaucratic management is based upon: Firm rules Policies and procedures A fixed hierarchy A clear division of labor

14. B) BEHAVIORAL PERSPECTIVE Followed the classical perspective in the development of management thought. Acknowledged the importance of human behavior in shaping management style Is associated with: Elton Mayo Douglas McGregor Mary Parker Follet Chester Barnard

15. C) QUANTITATIVE APPROACH Characterized by its use of mathematics, statistics, and other quantitative techniques for management decision making and problem solving. This approach has four basic characteristics: A decision-making focus Development of measurable criteria Formulation of a quantitative model The use of computers

16. Decision-Making Focus The primary focus of the quantitative approach is on problems or situations that require direct action, or a decision, on the part of management. Measurable Criteria The decision-making process requires that the decision maker select some alternative course of action.

17. Quantitative Model To assess the likely impact of each alternative on the stated criteria, a quantitative model of the decision situation must be formulated. Computers Computers are quite useful in the problem-solving process.

18. D) SYSTEM PERSPECTIVE Views the organization as a unified, directed system of interrelated parts. The systems sees each change in a part of the system as having an impact on all others parts. The system helps managers to realize that every action has consequences somewhere inside as outside the organization.

19. E) CONTINGENCY PERSPECTIVE A view that proposes that there is no one best approach to management for all situations. Asserts that managers are responsible for determining which managerial approach is likely to be most effective in a given situation. This requires managers to identify the key contingencies in a given situation.

20. Discussion Discuss the pros and cons of using the contingency theory/approach in management. Use of examples is encouraged. Describe contemporary planning techniques (project management and scenario planning). What do managers do in terms of functions? Identify and discuss 5 major contemporary issues that managers in Zimbabwe face

21. THANK YOU