Management (12th Edition)
Today’s managers and organizations are being buffeted by massive and far-reaching competitive, social, technological, and economic changes. Any manager who believed in the myth of stability was rocked out of complacency a few years ago, when, one after another, large financial institutions in the United States began to fail, automakers filed for bankruptcy, the housing market collapsed, European economies faced financial devastation, and a global economic recession took hold and wouldn’t let go. Business schools, as well as managers and businesses, are still scrambling to cope with the aftermath, keep up with fast-changing events, and evaluate the impact that this volatile period of history will have on organizations in the future. This edition of Management addresses themes and issues that are directly relevant to the current, fast-shifting business environment.
I revised Management, 12th edition, with a goal of helping current and future managers find innovative solutions to the problems that plague today’s organization —whether they are everyday challenges or once-in-a-lifetime crises. The world in which most students will work as managers is undergoing a tremendous upheaval. Ethical turmoil, the need for crisis management skills, mobile business, economic recession and rampant unemployment, rapidly changing technologies, globalization, outsourcing, increasing government regulation, social media, global supply chains, the Wall Street meltdown, and other challenges place demands on managers that go beyond the techniques and ideas traditionally taught in management courses. Managing today requires the full breadth of management skills and capabilities. This text provides comprehensive coverage of both traditional management skills and the new competencies needed in a turbulent environment characterized by economic turmoil, political confusion, and general uncertainty.
In the traditional world of work, management’s job was to control and limit people, enforce rules and regulations, seek stability and efficiency, design a top-down hierarchy, and achieve bottom-line results. To spur innovation and achieve high performance, however, managers need different skills, particularly in today’s tough economy, which has caused suffering for many employees. Managers have to find ways to engage workers’ hearts and minds, as well as take advantage of their labor. The new workplace asks that managers focus on building trust, inspiring commitment, leading change, harnessing people’s creativity and enthusiasm, finding shared visions and values, and sharing information and power. Teamwork, collaboration, participation, and learning are guiding principles that help managers and employees maneuver the difficult terrain of today’s turbulent business environment. Rather than controlling their employees, managers focus on training them to adapt to new technologies and extraordinary environmental shifts, and thus achieve high performance and total corporate effectiveness.
Part 1 Introduction to Management 2
1 The World of Innovative Management 2
2 The Evolution of Management Thinking 38
Part 2 The Environment of Management 74
3 The Environment and Corporate Culture 74
4 Managing in a Global Environment 110
5 Managing Ethics and Social Responsibility 150
6 Managing Start-Ups and New Ventures 182
Part 3 Planning 216
7 Planning and Goal Setting 216
8 Strategy Formulation and Execution 248
9 Managerial Decision Making 282
Part 4 Organizing 320
10 Designing Organization Structure 320
11 Managing Change and Innovation 362
12 Managing Human Resources 398
13 Managing Diversity 436
Part 5 Leading 470
14 Understanding Individual Behavior 470
15 Leadership 510
16 Motivating Employees 550
17 Managing Communication 586
18 Leading Teams 620
Part 6 Controlling 658
19 Managing Quality and Performance 658
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