Management 321

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Management 321

• Principles of Management

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Management 321

• Survey of basic management principles
• Tuesday and Thursday 8-915 am
• Thurmond 413

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Instructor

• Jim Olson Executive in Residence
• Thurmond 126
• Phone [phone]
• E-mail olsonj_at_winthrop.edu
• jim_olson_at_tma.toyota.com
• Office hours Tuesday and Thursday
• 930-1130 am or by appointment

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Textbook

• Contemporary Management by G. R. Jones and J. M.
  George (fifth edition)

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Relevant Olson Information

• Born Cody, Wyoming, 1941
• Undergraduate degree from Stanford
• Four years active duty with the U.S. Navy
• Graduate degree from Northwestern
• 35 years in the U.S. auto industry 16 at Ford
  19 at Toyota. Final position senior vice
  president -- Toyota Motor North America in New
  York City retired 12/31/03
• Oversaw government relations, public policy,
  public relations, stockholder relations,
  corporate contributions, the Toyota-USA
  Foundation, corporate advertising and was a
  member of Toyotas North American executive
  committee
• Married with one son
• Hobbies golf, gardening, reading, teaching

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E-mail Registration

• http//www.winthrop.edu/acc/classlist.htm

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What I Expect From You

• Will use some homework, four tests, lecture.
  Lecturing only partly effective, so will ask
  questions - a two-way learning process requiring
  your participation
• Manager In Training active learner
• Be on time, awake, attentive, prepared
• Stay for entire class
• Dress neatly, act professionally no hats or
  caps, no food or drinks (except water)
• Sometimes I will finish early, so bring textbook.

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What Are Our Goals?

• Two goals
• To familiarize you with the principles of
  management
• planning, organizing, leading and controlling
  manpower, money, material and information to
  achieve organizational goals efficiently and
  effectively

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Goals?

• To teach you to use the principles to manage
  well, to defuse business threats, and to exploit
  business opportunities.
• This goal requires you to use the skill of
  critical thinking.

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Critical What?

• Critical Thinking
• The process of rigorously analyzing, evaluating
  and synthesizing information gathered through
  observation, insight and reflection in order to
  draw conclusions that form a foundation for
  belief and action

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Critical Thinking

• Many of the beliefs upon which people take
  action are untested. The central skill of good
  management, critical thinking side-steps personal
  biases to examine and test information from
  multiple sources before conclusions are drawn,
  beliefs formed and action taken.

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Critical Thinking

• Applies rigorous intellectual standards to the
  sourcing and sorting of information.
• Tests all assumptions in an open-minded,
  questioning fashion, recognizing and adjusting
  for the sorters biases.
• Drills down to root causes.
• And draws conclusions only after thoroughly
  analyzing all available information.

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What I expect

• Inform me in advance if you must miss a class.
• Missing more than 3 classes will affect your
  final grade miss 7 and you will be out.
• Read, think about and be prepared to discuss the
  material in each chapter and any supplemental
  materials during the class in which it is
  presented.

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Professional Behavior

• Papers should be computer-generated, not
  hand-written.
• I prefer that you submit to me as a file attached
  to an e-mail. That way I can correct the work
  electronically and return it to you more quickly.
• Submit on time one letter grade down per each
  day late.
• Cheating of any kind not worth potential
  consequences zero-tolerance policy.

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Professional BehaviorRESPECT

• Respect your sources no plagiarism
• Respect your colleagues all comments welcome
  only dumb question is the one you dont ask.
• Respect your obligations by doing team
  assignments on time no free riding. Your team
  mates will review your performance for me.
• Respect common courtesy no cell phones or pagers
  during class. If pending emergency, give it to
  me and Ill monitor. If it goes off in your
  pocket, purse or pack instead of my hand, you
  will lose two points from your final course grade.

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Class Web Site

• All lecture power points will be available
  before the class in which they are presented on
  the course website
• http//faculty.winthrop.edu/olsonj

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Students With Disabilities

• Gena Smith on 323-3290 form to me outlining
  any special requirements

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Office Hours

• As noted earlier, my office is in Thurmond 126.
• Office hours Tuesday and Thursday 930 to 1130
  am
• If above hours dont work, please contact me via
  e-mail or face-to-face and well find a mutually
  convenient time.

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Team Project

• I will assign teams.
• Semester-long project see schedule in syllabus
  for team presentation day at end of term.
• Note mid-term verbal check of progress.
• Subject Using course principles, explain
• How General Motors went wrong
• Whether it is on the road to recovery
• How you would try to return GM to
  fully competitive condition if you were in charge.

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Team Project

• Background package will be provided, but you will
  need much more research and thought to become
  current on the situation.
• Although some insights and recommendations are
  more correct than others, there are no wrong
  answers.
• Grade will be based on quantity and quality of
  research, power point quality and clarity,
  persuasiveness of insights/recommendations,
  linkage to course principles, presentation
  skills, and team-skill ratings from your fellow
  team members.
• Each team member must share in a power point
  presentation of no more than 15 minutes
• Begin research right away!
• Think critically!

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Journal Project

• Keep a journal about this course, what you are
  experiencing and learning at Winthrop, future
  career plans, any relevant subject.
• Suggest you write at least 15 minutes a day two
  days a week.
• Must be computer-generated. Submit to me via
  e-mail. See schedule for submission times.
• Final one-page summary themes, what you learned,
  how you improved.
• Grade based on honesty, self-insight, quality of
  writing.

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Grading Policy

• A extraordinary and significantly beyond
  requirements
• B almost
• B above-average and exceeding requirements
• C almost
• C average and meeting requirements
• D below-average but with some promise
• F inadequate and not meeting requirements

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Grading Policy

• Three Interim Exams 30
• Final Exam 25
• Team Project 25
• Journal 10
• Homework, participation 10
• and attendance

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Extra Credit QuestionsTwo-track Approach

• At the end of each of the three sectional
  examinations, there will be a section of
  questions drawn from supplemental material I will
  hand out during the semester. Those of you with
  enough energy and curiosity to read and think
  about the supplemental material can gain extra
  credit by correctly answering them. Failing to
  answer them will not penalize those too busy (or
  too lazy) to take advantage of the supplemental
  material.

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Pre-Exam Reviews

• Notice in the tentative schedule attached to the
  printed course syllabus that there will be a
  classroom review before each exam. Dont miss
  these sessions because they provide a huge
  advantage!

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What You Should Get From This Course

• The evolution of management theory is not the
  most important subject in this course. Nor are
  the many matters addressed in the other 17
  chapters.
• Ill use homework, discussion and exams to make
  you familiar with the material in the book.
• But, what I really want you to get from this
  course is a practical toolbox of ideas and
  examples of how to manage so that after
  graduation -- you wont freeze like a deer in
  headlights when you have to do it.
• Because it is where I received my best training
  and experience, much of this practical stuff will
  come from Toyota and the rest of the auto
  industry. I apologize in advance for talking so
  often about this fascinating industry.

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Its Not All In The Book

• We will discuss concepts such as effective and
  efficient performance, innovation, sustainable
  competitive advantage, strategic positioning, the
  shortcomings of operational efficiency as a
  competitive strategy, the power of money as a
  competitive weapon, kaizen, nemawashi, genchi
  genbutsu, PDCA, BHAGs and others.
• Many are not in the book but are, instead, from
  supplemental materials or based on my personal
  experience. They are meant to convey a simple,
  practical, hands-on approach to management.
• I expect you to leave this course with an
  understanding of the practical philosophy that
  underlies these concepts and with some
  rudimentary facility to think critically about
  the likely effects of a management action before
  you take it.

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Most Important Lessons

• The most valuable lesson I can teach you is to
  become your own teacher -- one of the greatest
  values of an education.
• Socrates
• Facts are stubborn things.
• John Quincy Adams
• People who dont learn dont succeed.
• Companies that dont die.

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Gotcha

• AH HA! SIT STILL. IM NOT DONE YET.

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AVERAGE HUMAN HOURS

• According to an article I read, the average
  American man now lives to the age of 73. The
  average American woman lives to more than 79.
• For the man, thats about 639,000 hours. For the
  woman, about 692,000.
• The average student in this class already has
  used up about 184,000 hours.
• What will you do to maximize the value of your
  remaining 455,000 to 508,000 hours?

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Homework 1Possible Content

• Who am I?
• Where born?
• Where been?
• What do my parents do to pay my way or am I
  already making my own way?
• Significant job experience to date?
• Significant skills (What are you good at?),
  hobbies and outside interests?

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Homework 1

• Where am I going? How will I spend my remaining
  hours of life?
• Graduate school? What subject?
• If job, what would you most like to do?
• Where (preferred industry, company, geographical
  area)?
• What do you think is most important about
  selecting an employer? What should you look for
  in a company? What do you think they will look
  for in you?
• Most important career goal?
• Most important life goal?
• What do you want people to say about you at your
  funeral?

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Homework 1

• What else do you want to add?
• Be creative, but think and write clearly.
• Respect the power of language by choosing your
  words carefully. Not the nearly right word, but
  the exactly right word. PROOFREAD! I know
  youre busy, but take time to do this well.
• No more than two single-spaced,
  computer-generated pages because brevity forces
  selectivity, enhancing clarity. Less always is
  best!
• Submit via e-mail. Due Thursday, September 4
  nine days from today.