Management Theory and Practice

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Course Information
Discipline(s): 
Management
International Business
Terms offered: 
Fall
Credits: 
3
Language of instruction: 
English
Prerequisites: 

Majors preferred

  • International Business
  • Industrial Management
  • Business Administration
  • International Management
  • other affiliated majors such as Marketing, Finance, Economics or Accounting
Description: 

This core course focuses on the fundamental concepts, functions and skills of management. It is designed to enhance students´ understanding of effective management; to focus on a thorough and systematic coverage of relevant management theory and practice; to cover fundamental management skills and abilities required to run companies and organizations successfully; and to review the foundations of modern management thought.

Management theories are applied to practical business situations in planning, organizing, leading and controlling of business activities. Students are encouraged to put management concepts and skills into practice by using selected Top Fortune 500 corporations, Top 100 Arab Corporations and Top Trend 500 Companies as well as special sources for case research including actual company information.

The applicability of this course to Vienna is worth emphasizing. Its business school was founded already in 1898, and it is also the birthplace of Peter Drucker, inventor of modern management and the most widely influential management thinker, consultant and writer on the subject of management theory and practice.

Attendance policy: 

IES Abroad Vienna requires attendance at all class sessions, including field study excursions, internship meetings, scheduled rehearsals, and exams. Attendance will be monitored and unexcused absences will affect the student’s grade via the “Participation” component of each course’s final grade.

Excused Absences

  • Excused absences are permitted only when a student is ill, when class is held on a recognized religious holiday traditionally observed by the particular student, or in the case of a grave incident affecting family members.
  • To be granted an excused absence, the student must write an email to his/her professor in a timely manner stating the reason for the absence (and, if appropriate, how long they expect to be away) with a cc to Center administrative staff. In an emergency, the student may call Student Services or the Front Desk. If the student is unable to send an email (too sick, no computer), he/she may call the Student Assistant at the front desk (01/512 2601-11) who will then write the email described above and send it to said parties as stated above, with a cc to the student.
  • If a student is absent 3 consecutive days or more, he/she will need to obtain a doctor’s note and then submit this to the Registrar’s office.
Learning outcomes: 

By the end of the semester, the students will have acquired the following knowledge, understanding and skills:

  • Understand the fundamental concepts and principles of management.
  • Be knowledgeable of the functions as well as skills of successful management.
  • Understand theoretical aspects and its application to modern management practice by learning from management cases.
  • Identify the key competencies required of effective managers.
  • Carry out the development and practice of the fundamental management competencies.
  • Be aware of the importance of managerial ethics and social responsibility in management.
  • Demonstrate critical thinking when presented with managerial issues and problems.
Method of presentation: 
  • Lectures
  • Discussions
  • Role games
  • Group and single work
  • Student presentations
Required work and form of assessment: 
  • Class participation and discussions - 10%
  • Project including case research, analysis, report and student presentation - 30%
  • Midterm exam, based on lectures and complementary reading - 25%
  • Final exam, based on lectures and complementary reading - 35%

Project
With instructor guidance, students select leading North American, European and Arabic companies (Magna Automotive, General Electric, General Motors, OMV, Voest Alpine etc.). After studying their cases to improve their understanding of effective management, they report their findings to the class. These reports are spread throughout the semester, with assignments of companies and due dates determined at the beginning of the term.

content: 
Week Content Reading
1

Introduction; plan, structure and organization of course. Introduction
to management theory and practice: managers and managing. The
functions of management: goal setting and management by objectives. Planning, organizing, leading and controlling; motivation. Development
of management skills. The use of cases presenting actual business situations.  

  • None
2 Management and organizations; understanding management context, constraints and challenges; motivation. Project team formation, topics (companies) divided up between the students.
  • Robbins 2013, chapters 1-2
  • Wheelen 2012, p. 401-403
  • The Fortune 500 List at the Fortune magazine Website
  • Top 100 Companies of the Arab World
  • Trend 500, Austria
  • Case analysis (Wheelen 2012, p. 388-400).   
3 The manager as decision maker. Managing change and innovation. Functions of management (planning, organizing, leading and controlling; motivation).
  • Robbins 2013, chapters 6-7
  • Greenberg 2010, chapter 10 on Decision Making
  • Baldwin 2008, chapter 4 on Motivation
4 Planning: Foundations of planning. Planning tools and methods. Strategic management. The manager as planner and strategist.
  • Robbins 2013, chapters 8-9
  • Wheelen 2012, chapter 1, Basic Concepts of Strategic Management, p. 25-65 (incl. Appendix 1A: Strategic Audit of a Corporation)
  • Cavusgil 2012, chapter 12 on Strategy
5

Organizing: Organizational design and structure.

Midterm Exam

  • Robbins 2013, chapters 10-11
  • Cavusgil 2012, chapter 12 on Organization
6 Managing human resources; career management; managing teams
  • Robbins 2013, chapters 12-13
  • Cavusgil 2012, chapter 19, Human Resource Management
7 Leading: Understanding individual behavior. Managers and communication; motivating employees. Managers as leaders
  • Robbins 2013, chapters 14-17
  • Greenberg 2010, chapter 6, motivation
  • Greenberg 2010, chapter 11, leadership
  • Baldwin 2008, chapter 7, leadership
  • Greenberg 2010, chapter 8, communication
  • Baldwin 2008, chapter 2, communication
8 Controlling: Foundations of controlling. Managing operations. Mergers and acquisitions.
  • Robbins 2013, chapters 18-19
9 Managerial issues: Managing in a global environment. Designing effective organizations and management of change. Managing social responsibility and ethics. Cultural issues and cross border management.
  • Robbins 2013, chapter 5
  • Wheelen 2012, chapter 3
  • Greenberg 2010, S. 44-64
  • Greenberg 2010, chapter 13-14, Designing Effective Organizations, Managing Change
  • Baldwin 2008, chapter 10, Making change
  • Baldwin 2008, p. 353-367, conclusion
10

Effective Management for managers today. Future developments in managing behavior in organizations in the global market. The Drucker difference: What Peter Drucker would have said. The Practice of Management.

Final Exam

  • Kanter 2009
  • Selected Peter Drucker readings

 

Required readings: 
  • Baldwin, T.; Bommer, W.; Rubin, R. (Baldwin): Developing Management Skills, McGraw-Hill, 2008.
  • Cavusgil, S. Tamer; Knight, Gary; Riesenberger, John R. (Cavusgil): International Business: Strategy, Management and the New Realities. Pearson Education, Pearson Prentice Hall, 2nd edition, 2012 (chapters 4, 12 and 19).
  • Drucker, Peter: The Practice of Management. Harper, N.Y-London, 2006.
  • Drucker, Peter: The Effective Executive. Harper N.Y.-London, 2006.
  • Drucker, Peter: The Essential Drucker. The Best of Sixty Years of Peter Drucker´s Essential Writing on Management.
  • Greenberg, Jerald (Greenberg): Managing Behavior in Organizations, Pearson, 2010.
  • Robbins, Stephen P.; Coulter, Mary (Robbins 2013): Management. Prentice Hall, 12th Edition, 2013.
  • Kanter, Rosabeth Moss: What would Peter say? Harvard Business Review, Nov. 2009.
  • Wheelen, Thomas; Hunger, J. David (Wheelen 2012): Concepts in Strategic Management and Business Policy. Toward Global Sustainability. Pearson 2012.

EBSCO Database and other international research databases.