THEORY AND PRACTICE OF THEORY AND PRACTICE OF MANAGEMENTMANAGEMENT

Stephen TaylorStephen Taylor

Senior Lecturer in HRM Senior Lecturer in HRM stephen.taylor@exeter.ac.ukstephen.taylor@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 Bourdieu (1930-2002)Pierre Bourdieu (1930-2002)

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

HOW TO DO WELL ON HOW TO DO WELL ON YOUR DEGREE PROGRAMMEYOUR DEGREE PROGRAMME

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

Off-targetOff-target

CollageCollage

Late take-offLate take-off

Rushed jobRushed job

THEORY AND PRACTICE OF THEORY AND PRACTICE OF MANAGEMENTMANAGEMENT

Stephen TaylorStephen Taylor

Senior Lecturer in HRM Senior Lecturer in HRM stephen.taylor@exeter.ac.ukstephen.taylor@exeter.ac.uk