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THEORY AND PRACTICE OF THEORY AND PRACTICE OF MANAGEMENTMANAGEMENT
Stephen TaylorStephen Taylor
Senior Lecturer in HRM Senior Lecturer in HRM [email protected]@exeter.ac.uk
Module AimsModule Aims
i)i) To introduce you to major currents in management thinking and to key contemporary developments in the world of business and management.
ii) To help you to develop many of the skills which you are going to need in order to succeed both as a manager and in your studies at Exeter.
iii) To enhance your confidence and your capacity to excel.
Team-working Module handbook
AssessmentAssessment
1 x exam (50%)1 x exam (50%)
1 x group report and presentation (30%)1 x group report and presentation (30%)
1 x group-based peer review of another 1 x group-based peer review of another group's presentations (10%)group's presentations (10%)
1 x group-based self-assessment of 1 x group-based self-assessment of learning (10%)learning (10%)
EXAMEXAM Relates to the lectures, but also draws on Relates to the lectures, but also draws on
the seminar case studies the seminar case studies
May May
2 hours2 hours
4 from a choice of 104 from a choice of 10
1 question derived from each lecture topic1 question derived from each lecture topic
GROUP-BASED GROUP-BASED ASSIGNMENTSASSIGNMENTS
Seminar activities – group basedSeminar activities – group based
PresentationsPresentations
ReportReport
Peer reviewPeer review
Self-assessmentSelf-assessment
Friday 20Friday 20thth March March
MARKING CRITERIAMARKING CRITERIA
FullFull DirectDirect Original Original Well-informed Well-informed Appropriately referenced Appropriately referenced Professionally presentedProfessionally presented
WHAT IS A BUSINESS?WHAT IS A BUSINESS?
BusinessesBusinesses Organisations Organisations ManagementManagement
MOOCMOOChttp://www.youtube.com/watch?v=hPYPaDYywME&feature=youtu.be
WHAT IS A BUSINESS?WHAT IS A BUSINESS?
Financial constraintsFinancial constraints
Value creationValue creation
Kaufman’s 12 methods of value Kaufman’s 12 methods of value creationcreation
Business ModelsBusiness Models
ProductsProducts
ServicesServices
Shared resourcesShared resources
SubscriptionsSubscriptions
Sale – re-saleSale – re-sale
Business ModelsBusiness Models
LeasingLeasing
AgenciesAgencies
Audience aggregationAudience aggregation
LoansLoans
OptionsOptions
Business ModelsBusiness Models
InsuranceInsurance
CapitalCapital
FranchiseFranchise
Multiple revenue streamsMultiple revenue streams
WHAT IS MANAGEMENT?WHAT IS MANAGEMENT?
PlanningPlanning
OrganisingOrganising
LeadingLeading
ControllingControlling
Mintzberg’s ModelMintzberg’s Model
Interpersonal roles:Interpersonal roles: Figurehead Figurehead Leader Leader
LiaisonLiaison
Informational roles:Informational roles: Monitor Monitor Disseminator Disseminator SpokespersonSpokesperson
Decisional roles:Decisional roles: Entrepreneur Entrepreneur Disturbance Disturbance
handler handler Resource Resource allocator allocator NegotiatorNegotiator
Key management attributesKey management attributes
social confidencesocial confidence problem solvingproblem solving
intelligenceintelligence time managementtime management
passionpassion IT skillsIT skills
punctualitypunctuality numeracynumeracy
reliabilityreliability customer awarenesscustomer awareness
preparedness to work hardpreparedness to work hard creativitycreativity
flexibilityflexibility initiativeinitiative
team-workerteam-worker enterprisingenterprising
cool headednesscool headedness comfort with comfort with uncertaintyuncertainty
honestyhonesty likes challengeslikes challenges
articulate communicationarticulate communication innovativeinnovative
Management attributesManagement attributes
KnowledgeKnowledge
UnderstandingUnderstanding
WisdomWisdom
ImaginationImagination
Pierre BourdieuPierre Bourdieu
Human capital – accumulationHuman capital – accumulation
Economic capitalEconomic capital Cultural capitalCultural capital Symbolic capitalSymbolic capital Social capitalSocial capital
THE ECONOMIC OUTLOOKTHE ECONOMIC OUTLOOK 2008 – 2013: longest period of low or 2008 – 2013: longest period of low or
negative economic growth since the negative economic growth since the 1930s1930s
The long boomThe long boom UK: 6% contraction in 18 months, UK: 6% contraction in 18 months,
followed by a slow and hesitant recoveryfollowed by a slow and hesitant recovery
Reliance on the financial services sectorReliance on the financial services sector Recklessness / under-regulation in Recklessness / under-regulation in
financial servicesfinancial services High personal debtHigh personal debt High sovereign debtHigh sovereign debt
THE ECONOMIC OUTLOOKTHE ECONOMIC OUTLOOK
2013-14 – faster growth2013-14 – faster growth GDP has now recovered to its 2008 GDP has now recovered to its 2008
levellevel GDP per head remains lowerGDP per head remains lower
International variationsInternational variations World economic prospectsWorld economic prospects
THE ECONOMIC OUTLOOKTHE ECONOMIC OUTLOOK
Reasons for optimism Reasons for optimism
BUT:BUT: Personal debt is £1.5 trillionPersonal debt is £1.5 trillion Public debt is over £1 trillionPublic debt is over £1 trillion Growth in the Euro zone remains Growth in the Euro zone remains
sluggishsluggish
Government responsesGovernment responses
Usual responses to a recession:Usual responses to a recession: Reduce interest ratesReduce interest rates Increase public borrowing and spendingIncrease public borrowing and spending Reduce taxationReduce taxation Devalue the currencyDevalue the currency
Additional response:Additional response: Quantatitive easing Quantatitive easing
Government responsesGovernment responses
Euro zone governments with recessions:Euro zone governments with recessions: Can not reduce interest ratesCan not reduce interest rates Can not use quantatitive easingCan not use quantatitive easing Can not manipulate exchange ratesCan not manipulate exchange rates Very limited room to cut taxes and increase Very limited room to cut taxes and increase
spendingspending Borrowing is too expensiveBorrowing is too expensive Reliant on other euro zone governmentsReliant on other euro zone governments
Lack of confidence Lack of confidence
Systematic understandingSystematic understanding Analysis and enquiryAnalysis and enquiry Conceptual understandingConceptual understanding Develop and sustain argumentsDevelop and sustain arguments Critical evaluationCritical evaluation Communication Communication EmployabilityEmployability Big emphasis on knowledge, Big emphasis on knowledge,
understanding and the ability to explainunderstanding and the ability to explain
Comprehensive understandingComprehensive understanding Originality in the application of knowledgeOriginality in the application of knowledge Critical evaluation of advanced scholarshipCritical evaluation of advanced scholarship Self-directionSelf-direction Creativity Creativity Sound judgementsSound judgements Independent learningIndependent learning Big emphasis on critical evaluationBig emphasis on critical evaluation
Comprehensive understandingComprehensive understanding Beyond basicBeyond basic In depthIn depth Not partial or superficialNot partial or superficial
EvaluativeEvaluative Not descriptiveNot descriptive CritiqueCritique Subject ideas to critical scrutinySubject ideas to critical scrutiny
OriginalityOriginality Well-arguedWell-argued Well-structuredWell-structured Taking a position and justifying itTaking a position and justifying it
Higher Level SkillsHigher Level Skills Independent learningIndependent learning Communication to different audiencesCommunication to different audiences Maturity of thoughtMaturity of thought
Building on your readingBuilding on your reading
Avoid anecdotal approachesAvoid anecdotal approaches
Peer reviewed academic researchPeer reviewed academic research
Journalistic sourcesJournalistic sources
TextbooksTextbooks
Not the same thing as ‘criticise’Not the same thing as ‘criticise’
Thinking criticallyThinking critically
Critiquing published researchCritiquing published research
Easier than you think – debates already existEasier than you think – debates already exist
The perspective of your research questionThe perspective of your research question
How clear is the argument being made by the How clear is the argument being made by the author?author?
Do the arguments being advanced in support of a Do the arguments being advanced in support of a
point of view have a good degree of internal point of view have a good degree of internal consistency?consistency?
Do the arguments have a logical consistency?Do the arguments have a logical consistency? Is the conclusion justified by the arguments that Is the conclusion justified by the arguments that
are put forward to support it?are put forward to support it? Is the argument advanced based on reasonable Is the argument advanced based on reasonable
assumptions?assumptions?
Stella Cottrell’s Questions Stella Cottrell’s Questions (2)(2)
Are any false premises used to support an argument?Are any false premises used to support an argument?
Is irrelevant evidence used to support an argument?Is irrelevant evidence used to support an argument?
Are important points that might contradict an argument Are important points that might contradict an argument missed out of the analysis or trivialised?missed out of the analysis or trivialised?
Is the evidence that is presented current (ie: recent enough Is the evidence that is presented current (ie: recent enough to be valid in today's environment)?to be valid in today's environment)?
Does the author over-generalise their conclusions (eg: Does the author over-generalise their conclusions (eg: assume that what applies in one workplace or one profession assume that what applies in one workplace or one profession can be said to apply much more widely)?can be said to apply much more widely)?
Are opinions substituted for facts?Are opinions substituted for facts?
Published researchPublished research
An authority in the fieldAn authority in the field
Personal experiencePersonal experience
Logical argumentLogical argument
Ethical / political positionsEthical / political positions
Mature expressionMature expression
Demonstrating that you have studied the Demonstrating that you have studied the subjectsubject
Arguments that build on existing research Arguments that build on existing research
Avoiding the appearance of plagiarismAvoiding the appearance of plagiarism
Harvard referencingHarvard referencing
SubstanceSubstance
StudyStudy
OriginalityOriginality
JustificationJustification
StructureStructure
AnalysisAnalysis
PresentationPresentation
THEORY AND PRACTICE OF THEORY AND PRACTICE OF MANAGEMENTMANAGEMENT
Stephen TaylorStephen Taylor
Senior Lecturer in HRM Senior Lecturer in HRM [email protected]@exeter.ac.uk