Principles of Management
MGMT-142
Lecture 02
Fall 2024
Dr. Fareed Qureshi
SESSION LEARNING OBJECTIVES
1. Summarize the major
2. Describe the sources of
challenges of managing in
competitive advantage for
the new competitive
a company.
landscape.
3. Compare how the
4. Define the skills you
nature of environment
need to be an effective
varies at different
manager.
organizational levels.
5. Understand the
principles that will help
you manage your career.
QUESTIONS FROM LAST SESSION
How do you envision the role of
What do you think are some of
a manager evolving in today's
the major changes in the
fast-paced business
business world that managers
environment? What new skills or
need to adapt to today? How
approaches do you think may be
might these changes affect how
required for effective
businesses operate?
management in this context?
Globalization
MANAGING Technological change
IN A
COMPETITIVE Knowledge management
WORLD
Collaboration across
organizational boundaries
سوال یہ ہے کہ ۔۔۔
• Is effective management an art or a science ?
• Is effective management a static concept or a
dynamic one ?
Management is a challenge requiring
constant adaptation to new
circumstances
Competitive advantage why would I/why should I choose your
product or your service ?
MANAGING
FOR
COMPETITIVE Organization’s success the competitive advantage that it holds
and how well it can sustain that advantage
ADVANTAGE
Doing valuable things for your customers.
How ?
Cost
Innovation Quality Service Speed Sustainability
competitiveness
A Little Assignment
"In your opinion, which of the six components of competitive advantage (cost,
quality, time, innovation, service, and sustainability) will be most crucial for
businesses to focus on in the next decade? Please provide reasons for your choice
and discuss how organizations can effectively leverage this component to stay
competitive in a rapidly changing market environment.“
• Draw from real-world examples and case studies.
• Consider current and emerging trends in the business environment.
• Reflect on your own experiences as consumers and potential future managers.
Between 500 and 700 words. Font size 12, double spacing, Times New Roman
Deadline: Saturday 7th September 2024, no later than 8 pm.
Managerial Levels
Top-level Senior executives responsible for the overall management and
managers effectiveness of the organization.
Middle-level Located in the middle layers of the organizational hierarchy; bridging the
managers gap.
Frontline Lower-level managers who supervise the operational activities of the
managers organization.
MUST-HAVE MANAGEMENT SKILLS
• The ability to perform
a specialized task
Technical skill involving a particular Early in the
method or process. career
• The ability to identify
Conceptual and and resolve problems As you rise higher
for the organization
decision skill and its members.
in the company
• People skill; the ability
Interpersonal and to lead, motivate, and Throughout the
communicate
communication skill effectively with others.
career
MINTZBERG MANAGEMENT ROLES
Decisional Roles Informational Roles Interpersonal Roles
Entrepreneur Monitor Figurehead
Disturbance handler Disseminator Leader
Resource allocator Spokesperson Liaison
Negotiator Mintzberg published his Ten Management Roles in his book, "Mintzberg on
Management: Inside our Strange World of Organizations," in 1990.
MINTZBERG MANAGEMENT ROLES
Decisional Roles Informational Roles Interpersonal Roles
Entrepreneur Monitor Figurehead
Disturbance handler Disseminator Leader
Resource allocator Spokesperson Liaison
Out of these 10 roles, select any TWO you believe to be MOST
Negotiator
IMPORTANT for a manager. Write 2-3 sentences EACH to justify
your choice. You have 3 minutes.
Emotional intelligence; EQ
Social intelligence; SQ
Connect with people; social capital
YOU AND Empathy; walk in other’s shoes
YOUR Be self-reliant
CAREER Actively manage your relationship with your
organization; passive employee vs active employee
Be both a specialist and a generalist; Exploit and
explore
Mental strength
