MGT 3200 : Exam 1 Objectives
Document Summary
The process of achieving desired results through the efficient use of human and material resources. Effectiveness is concerned with doing the right thing in the right time, in the right way; goal attainment. Efficiency is concerned with reducing waste or minimizing resource costs since many resources are scarce. More concerned with efficiency, the harder it is to be effective (i. e. when you try too hard to cut costs, you can loose sight of your goals) It is a science b/c we develop theories of managing & then test them using the scientific method w/ empirical evidence. Industrial revolution changed how work was performed; dividing up labor causes a need for managers. Owners used to do all of the managing. Skilled craftsman are transferred to use of machinery & division of labor (skilled labor decreased) Ensures that the plans developed by top managers & middle managers are implemented by laborers w/ minimum costs (carry out the plans efficiently)
