BUS208: Principles of Management

Read the introduction and section 3.1 for a brief review of the Planning-Organizing-Leading-Controlling (P-O-L-C) framework, which has been utilized by firms large and small throughout the 20th and 21st centuries. This section also explores the case of the Hannah Anderson Corporation, and how the company has implemented the P-O-L-C framework to create a thriving clothing-import business.

Study this visual timeline of 19th- and 20th-century management and leadership theories.

Read this section to explore the thought process behind early management theory, with a particular emphasis on Henri Fayol's 14 principles of management. Pay close attention to these principles, as they have great applicability to contemporary management. You will also be introduced to a more recent management thought process spearheaded by Thomas Peters and Robert Waterman in their book In Search of Excellence. Be sure to take detailed notes on these principles.

Read this section, which explains why managers need to be able to identify social and political trends. These trends significantly shape how a manager performs his or her tasks and often dictate the foundational success of an organization. It also covers the evolution of social networking, from its origins as a way for college students to connect, to its present-day role as a viable, effective, and efficient way for corporations to utilize the viral nature of the Internet as a marketing tool. As you read, consider how social networking has blurred the lines between personal, professional, and business activities. Consider both the advantages and disadvantages for businesses using social networking.

Read this article and consider the growing ways in which you use email as compared with your use of email two years ago, or even five years ago. How much has your usage of email increased? Do you now rely on this method of communication more than you did in the past? How involved are you in social media, on both a personal and a business level? In your own work, are you often encouraged to use social media as a way to expand business opportunities?

Read the introduction and section 3.1, which discusses why countries and corporations, both large and small, engage in international trade. With globalization in mind, pay particular attention to the different models and incentives for international trade and business cooperation. Trade deficits and surpluses affect many aspects of our day-to-day lives. Think about how some of these determinants might impact the business market in your country.

Read this section, which discusses companies' various challenges and opportunities as they engage in international business. When a company enters the global market, the application of management principles intensifies as stakeholders' demands begin to take shape. It also gives a roadmap to how companies expand internationally, emphasizing international licensing agreements and franchising opportunities. Pay attention to how companies outsource manufacturing to countries with lower costs of labor to maximize profits. Domestic and international manufacturing options have advantages and disadvantages regarding environmental conditions, skilled labor, financial incentives, and cultural differences.

Read this section, which describes how to identify legal, political, cultural, and economic differences between two countries. These are considered to be invaluable skills in the international business environment. Consider how business professionals utilize this information to increase organizational success. The concepts of language, time, and communication will help you improve your business while managing employees, resources, and capital. 

Read this section, which describes the ways in which governments and international bodies promote and regulate trade. You should be able to identify and discuss the various tools and policies that governments typically utilize to encourage economic growth. This information can be used by managers and leaders to make strategic decisions, including deciding if and when a business should expand on a global scale.

Read this section, which provides insight into the various ways to minimize and/or remove trade barriers, a process that directly supports the concept of free trade among designated nations. One example of this idea is NAFTA (the North American Free Trade Agreement), an agreement between the United States, Mexico, and Canada. It also introduces you to initiatives that countries and international organizations are taking to bridge the gap between developing and developed economies, allowing rapid growth in emerging markets, and encouraging competition on a global scale.

Read this article and consider the following questions: How has the spread of globalization provided growth opportunities for businesses? On the flip side, how has globalization challenged businesses? Does the company you work for, or one you are familiar with, implement the three management strategies? If yes, how so? If not, do you think these strategies could help the company excel as a global enterprise?

Read this article and consider the following questions: How important is globalization to Coca-Cola's success? How did Coca-Cola begin its globalization journey? What specific practices supported Coca-Cola's goal to be the best beverage company in the world? How did Coca-Cola's global marketing strategies, product differentiation, and technology efforts support the company's desire to grow globally?

Read this section, which describes how to apply global management practices to variations within local business contexts. To navigate to the next section, click on the arrow key at the bottom of the page, or click on the link to the section in the left-hand table of contents.