ORGANIZATION AND MANAGEMENT: Lesson 1 - influenced by the advancements in technology, transportation, communication, -a business ecosystem consists of a group of firms

on, -a business ecosystem consists of a group of firms that provide related products and
education and gradual deregulation of trade services
Management… - as a result, local companies have become part of highly competitive global market -the emergence of business ecosystems has resulted in improvements and innovations
- attributed to the activities of an organization that is characterized by a wide audience and a great potential for increased profit in industries
- consists of administrative job functions that require critical thinking and decision - challenge for managers to consistently make good decisions to satisfy and maintain -example: collaboration between telecommunication firms, media, and technology to
making their customers and attract more buyers for products and services disseminate information to the public
- entails responsibilities concerned with the people, resources, process within the -having several key players in a business ecosystem presents each company a wider
organization and outside factors 2. Technology perspective of their product or service
- one of the main driving forces of business -business ecosystems rely on collective and collaborative action in carrying out
Nature of Management - new technologies have rendered business functions and related tasks easier to organizational decisions
Management is a science because… accomplish bringing about increased levels of productivity
- it is a body of knowledge whose ideas and principles have become the basis of - led a number of companies to establish “virtual workspaces”
organizational frameworks - for example: (1) customers and supplies now use websites, social media, and email in
- it evolved from a number of theories that involved extensive studies and experiments several business functions, (2) people located in different places can now work and
- management principles are based on scientific principles, scholarly studies, and communicate with each other at the same time
statistical data - marketing, distribution and manufacturing have also improved with real-time
information systems
Management is also an art because… - improved communication channels shorten the transaction time between companies
- a good manager must use creativity and imagination to come up with solutions to to a matter of minutes
problems - customers order products online, companies finalize transactions within minutes,
- of the creativity applied in strategies, innovations used on new products, services and and deliveries are done at the soonest possible time
processes - at the click of a button, the manager is able to view business transactions and
processes, determine the best course of action, and identify areas of improvement
Meaning and Importance of Management
Outsourcing
Management
- a significant phenomenon brought about by technology
- is the process of planning, organizing, leading, and controlling the activities of an
- defined as the transfer of an organizational function to a third party
organization effectively to achieve its goals
- when the third party is located in another country, the transfer is called offshore
- plays a crucial role in every organization especially in today’s world that is much
outsourcing or simply “offshoring”
more complex and constantly changing where managers need to be dynamic and
flexible to address the challenges
3. Sustainability and Corporate Social Responsibility
- plays an important role in laying out the foundation of a profitable company strategy
Sustainability in business means that companies should plan and conduct long-term
and attaining successful operations
business operations to ensure minimal negative impact on social, cultural, and
economic aspects of their external environment or community.
Efficiency and Effectiveness
- For example: implementation of cost-saving mechanisms such as recycling,
Efficiency reduction of energy consumption in the workplace, and use and production
- ability to maximize output with minimum input of environmentally friendly products
- referred to as “doing things right” Corporate social responsibility is defined as the willingness of companies to run their
- it requires things to be done quickly to avoid wasting time and effort business operations in a sustainable and responsible manner.
- For example: social outreach programs, support of significant causes, and
Effectiveness other forms of philanthropic activities
- capacity to attain an intended objective or result
- often called “doing the right thing” - challenges managers to implement programs and processes that engage in
- meet the goal regardless of the amount of input required sustainable and socially responsible activities while maintaining their level of
- careful analysis and critical thinking is present productivity

4. Psychology
the right things - study of psychology is an important facet in management since it focuses on
Input Output developing people management skills and analyzing customer satisfaction
- vital for effective management: a better understanding of psychological concepts
such as motivation, behavior, attitude, and personality
the things right - help managers foster good relations and better communication with employees
- improved communication enables managers to better assess their employees,
Factors Influencing Management determine their strengths and weaknesses, and guide them toward personal and
Effective managers should determine the extent that these factors affect their professional development
respective business organizations and make plans to address the challenges they pose. - managers can analyze customer satisfaction and the external business environment
enabling them to carry out sound decisions
1. Globalization
- refers to the phenomenon of growing interconnectivity and interdependent relations 5. Ecosystems
between nations