Term
| What does management look like today? |
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Definition
At one time, managers were called bosses, and their job consisted of telling people what to do, watching over them to be sure they did it, and reprimanding those who didn't. Many, if not most, managers still behave that way.
Today, however, some managers tend to be more progressive. For example, they emphasize teams and team building; they create drop-in centers, team spaces, and open work areas. They tend to guide, train, support, motivate, and coach employees rather than tell them what to do. |
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Term
| What reasons can you give to account for changes in management? |
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Definition
| Leaders of fortune 100 companies today tend to be younger, more of them are female and fewer of them were educated at elite universities. They know that many of their employees know more about technology and other practices than they do . Therefore, they tend to put more emphasis on motivation, teamwork, and cooperation. Managers in the future are likely to be assuming completely new roles in the firm. For one thing, they will be taking a leadership role in adapting to climate change. Further, they'll be doing more expansion overseas. |
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Term
| What are the primary functions of management? |
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Definition
1. Planning
2. Organizing
3. Leading
4. Controlling |
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Term
| Describe the 4 primary functions of management. |
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Definition
Planning: anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives.
Organizing: designing the structure of the organization and creating conditions and systems in which everyone and everything work together to achieve the organization's goals and objectives.
Leading: Creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organization's goals and objectives.
Controlling: establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not. |
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Term
| What is the difference between goals and objectives. |
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Definition
| Goals are broad, long-term achievements that organizations aim to accomplish, whereas objectives are specific, short-term plans made to help reach the goals. |
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Term
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Definition
| Managers look at the Strengths and Weaknesses of the firm and the Opportunities and Threats facing it. |
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Term
| What are 4 types of planning, and how are they related to the organization's goals and objectives? |
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Definition
Strategic planning: braod, long-range planning that outlines the goals of the organization.
Tactical planning: specific, short-term planning that lists organizational objectives.
Operational planning: part of tactical planning and sets specific timetables and standards.
Contingency planning is developing an alternative set of plans in case the first set doesn't work out. |
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Term
| What are the steps involved in decision making? |
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Definition
The seven Ds of decision making are:
1. Define the situation
2. Describe and collect needed information
3. Develop alternatives
4. Develop agreement among those involved
5. Decide which alternative is best
6. Do what is indicated (begin implementation)
7. Determine whether the decision was a good one, and follow up. |
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Term
| What is an organization chart? |
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Definition
| Am organization chart is a visual device that shows relationships among people and divides the organization's work; it shows whois accountable for the completion of specific work and who reports to whom. |
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Term
| What are the three levels fo management in the corporate hierarchy? |
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Definition
1. Top management: highest level consisting of the president and other key company executives who develop strategic plans.
2. Middle management: general managers, division managers, and plant managers who are responsible for tactical planning and controlling
3. Supervisory management: first-line managers/supervisors who evaluate workers' daily performance. |
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Term
| What skills do managers need? |
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Definition
1. Technical skills: ability to perform specific tasks such as selling products or developing software.
2. Human relations skills: ability to communicate and motivate.
3. Conceptual skills: ability to see organizations as a whole and how all the parts fit together. |
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Term
| Are specific management skills equally important at all management levels? |
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Definition
Managers at different levels need different skills.
Top managers rely heavily on human relations and conceptual skills and rarely use technical skills.
First-line supervisors need strong technical human skills but use conceptual skills less often.
Middle managers need to have a balance of all three skills. |
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Term
| What's the difference between a manager and a leader? |
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Definition
A manager plans, organizes, and controls functions within an organization.
A leader has vision and inspires others to grasp that vision, establishes corporate values, emphasizes corporate ethics, and doesn't fear change. |
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Term
| Which leadership style is best? |
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Definition
The most effective leadership style depends on the people being led and the situation.
The challenge of the future will be to empower self-managed teams. |
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Term
| What does empowerment mean? |
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Definition
Empowerment means giving employees the authority and responsibility to respond quickly to customer requests.
Enabling is giving workers the education and tools they need to assume their new decision-making powers. |
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Term
| What is knowledge management? |
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Definition
| Knowledge management is finding the right information, keeping the information in a readily accessible place, and making the information known to everyone in the firm. |
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Term
| What are the five steps of the control function? |
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Definition
1. Setting clear standards
2. Monitoring and recording performance
3. Comparing performance with plans and standards
4. Communicating results and deviations to employees
5. Providing positive feedback for a job well done and taking corrective action if necessary. |
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Term
| What qualities must standards possess to measure performance results? |
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Definition
| Standards must be specific, attainable, and measurable. |
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