Principles of Management-Openstax.pdf

Principles of Management OpenStax Rice University 6100 Main Street MS-375 Houston,Texas 77005 To learn more about OpenStax,visit https:/openstax.org.Individual print copies and bulk orders can be purchased through our website.2019 Rice University.Textbook content produced by OpenStax is licensed under a Creative Commons Attribution 4.0 International License(CC BY 4.0).Under this license,any user of this textbook or the textbook contents herein must provide proper attribution as follows:-If you redistribute this textbook in a digital format(including but not limited to PDF and HTML),then youmust retain on every page the following attribution:“Download for free at https:/openstax.org/details/books/principles-of-management.”-If you redistribute this textbook in a print format,then you must include on every physical page thefollowing attribution:“Download for free at https:/openstax.org/details/books/principles-of-management.”-If you redistribute part of this textbook,then you must retain in every digital format page view(includingbut not limited to PDF and HTML)and on every physical printed page the following attribution:“Download for free at https:/openstax.org/details/books/principles-of-management.”-If you use this textbook as a bibliographic reference,please include https:/openstax.org/details/books/principles-of-management in your citation.For questions regarding this licensing,please contact supportopenstax.org.Trademarks The OpenStax name,OpenStax logo,OpenStax book covers,OpenStax CNX name,OpenStax CNX logo,OpenStax Tutor name,Openstax Tutor logo,Connexions name,Connexions logo,Rice University name,and Rice University logo are not subject to the license and may not be reproduced without the prior and express written consent of Rice University.PRINT BOOK ISBN-10 PRINT BOOK ISBN-13 PDF VERSION ISBN-10 PDF VERSION ISBN-1310 9 8 7 6 5 4 3 2 1 0-9986257-6-0978-0-9986257-6-80-9986257-7-9978-0-9986257-7-5 OPENSTAX OpenStax provides free,peer-reviewed,openly licensed textbooks for introductory college and Advanced Placement courses and low-cost,personalized courseware that helps students learn.A nonprofit ed tech initiative based at Rice University,were committed to helping students access the tools they need to complete their courses and meet their educational goals.RICE UNIVERSITY OpenStax,OpenStax CNX,and OpenStax Tutor are initiatives of Rice University.As a leading research university with a distinctive commitment to undergraduate education,Rice University aspires to path-breaking research,unsurpassed teaching,and contributions to the betterment of our world.It seeks to fulfill this mission by cultivating a diverse community of learning and discovery that produces leaders across the spectrum of human endeavor.PHILANTHROPIC SUPPORT OpenStax is grateful for our generous philanthropic partners,who support our vision to improve educational opportunities for all learners.Laura and John Arnold Foundation Arthur and Carlyse Ciocca Charitable Foundation Ann and John Doerr Bill&Melinda Gates Foundation Girard Foundation Google Inc.The William and Flora Hewlett Foundation Rusty and John Jaggers The Calvin K.Kazanjian Economics Foundation Charles Koch Foundation Leon Lowenstein Foundation,Inc.The Maxfield Foundation Burt and Deedee McMurtry Michelson 20MM Foundation National Science Foundation The Open Society Foundations Jumee Yhu and David E.Park III Brian D.Patterson USA-International Foundation The Bill and Stephanie Sick Fund Robin and Sandy Stuart Foundation The Stuart Family Foundation Tammy and Guillermo Trevio Access.The future of education.OpenStax.org I like free textbooks and I cannot lie.Give$5 or more to OpenStax and well send you a sticker!OpenStax is a nonprofit initiative,which means that every dollar you give helps us maintain and grow our library of free textbooks.If you have a few dollars to spare,visit OpenStax.org/give to donate.Well send you an OpenStax sticker to thank you for your support!TABLE OF CONTENTSPreface11Managing and Performing71.1 What Do Managers Do?81.2 The Roles Managers Play91.3 Major Characteristics of the Managers Job122Managerial Decision-Making212.1 Overview of Managerial Decision-Making232.2 How the Brain Processes Information to Make Decisions:Reflective and ReactiveSystems262.3 Programmed and Nonprogrammed Decisions282.4 Barriers to Effective Decision-Making312.5 Improving the Quality of Decision-Making352.6 Group Decision-Making453The History of Management553.1 The Early Origins of Management583.2 The Italian Renaissance613.3 The Industrial Revolution613.4 Taylor-Made Management633.5 Administrative and Bureaucratic Management683.6 Human Relations Movement713.7 Contingency and System Management754External and Internal Organizational Environments andCorporate Culture814.1 The Organizations External Environment844.2 External Environments and Industries884.3 Organizational Designs and Structures914.4 The Internal Organization and External Environments1034.5 Corporate Cultu