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Chapter 1
Lesson 1
40
Management
12th Grade
01/26/2015

Additional Management Flashcards

 


 

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Term
Management (defined as)
Definition
1.The pursuit of organizational goals efficiently and effectively by
2.Integrating the work of people through
3.Planning, organizing, leading, and controlling the organization’s resources
Term
Management:
What It Is, What Its Benefits
Definition
Managers operate within an organization
Term
Organization
Definition
a group of people who work together to achieve
some specific purpose
Term
Efficient
Definition
means to use resources-
people, money, raw materials, and the like-wisely and cost-­effectively
Term
Effective
Definition
means to achieve results, to
make the right decisions and to successfully carry them out so that they achieve organizational goals
Term
Efficient verses Effective examples
Definition
•Many companies now use a recorded
“telephone menu” of options to answer customer calls
•This is efficient for the companies, but not effective
•Most consumers prefer a live agent
Term
Rewards of STUDYING Management
Definition
•Understanding how to deal with
organizations from the outside
•Understanding how to relate to your supervisors
•Understanding how to interact
with co‐workers
•Understanding how to manage
yourself in the workplace
Term
Rewards of PRACTICING Management
Definition
•You and your employees can experience a sense of accomplishment
•You can stretch your abilities and magnify your range
•You can build a catalog of successful products or services
Term
7 Challenges To Being A Star Manager
Definition
1.Managing for competitive advantage – staying ahead of rivals
2.Managing for diversity – the future won’t resemble the past
3.Managing for globalization– the expanding management universe
4.Managing for information technology
5.Managing for ethical standards
6.Managing for sustainability— the business of green
7.Managing for your own happiness & life
Term
Managing For A Competitive Advantage
Definition
Term
Competitive Advantage
Definition
The ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them
Term
How To Gain Competitive Advantage
Definition
-Being responsive to customers
-Innovation
-Quality
-Efficiency(price)
Term
Managing For Information Technology
Definition
By 2012, more than a billion consumers are projected to spend $1.2 trillion online, and online commerce between businesses will be 10 times larger, totaling $1.2
Term
Managing for Information Technology cont.
Definition
Information technology has facilitated e‐business, using the Internet to facilitate every aspect of running a business
Term
Implications Of e-business
Definition
•Far-­ranging e-­management and e-communica)on
•Accelerated decision making, conflict, and stress
•Changes in organizational structure, jobs, goal setting,and knowledge management
Term
Managing For Sustainability
Definition
Term
Sustainability
Definition
economic development that meets the needs of the present without compromising the ability of future
generations to meet their own needs
Term
What Do Managers Do
Definition
-Planning- you set goals and decide how to achieve them
-Organizing- you arrange tasks, people,and other resources to accomplish the work
-Controlling- you monitor performance, compare it with goals, and take corrective action
-Leading- you motivate, direct, and otherwise influence people to work hard and acheive the organizations goals
Term
Pyramid Power:
Levels & Areas of Management
Definition
-Top Managers
-Middle Managers
-First-line managers
-Non-managerial personnel
Term
Top Managers
Definition
make long-­term decisions about the overall direction of the organization and establish the objectives, policies, and strategies for it
Term
Middle Managers
Definition
implement the policies and plans of the top managers above them and supervise and coordinate the activities of the first-line managers below them
Term
First-Line Managers
Definition
make short‐term operating decisions, directing the daily tasks of non-managerial personnel
Term
Functional Manager
Definition
Responsible for just one organizational activity
Term
General Manager
Definition
Responsible for several organizational activities
Term
The Manager’s Roles:
Mintzberg’s Useful Findings
Definition
1.A manager relies more on verbal than on written communication
2.A manager works long hours at an
intense pace
3.A manager’s work is characterized by fragmentation, brevity, & variety
Term
Three Types Of Managerial Roles
Definition
Term
Interpersonal Roles
Definition
-managers interact with people inside and outside their work units
–figurehead, leader, liaison
Term
Informational Roles
Definition
–managers receive and communicate information
–monitor, disseminator, spokesperson
Term
Decisional Roles
Definition
–managers use information to make decisions to solve problems or take advantage of opportunities
–entrepreneur, disturbance handler, resource allocator, negotiator
Term
CEO, Gary Kelly sets the direction and strategy for Southwest Airlines. What type of managerial role is he performing?
Definition
A.Interpersonal
B.Informational
C.Decisional
D.Conclusive
Term
Entrepreneurship
Definition
–process of taking risks to try to create a new empire
–Entrepreneurs & Intrapreneurs
Term
Entrepreneur
Definition
someone who sees a new opportunity for a product or service and launches a business to try to realize it
Term
Intrapreneur
Definition
someone who works inside an existing organization who sees an opportunity for a product or service and mobilizes the organization’s resources to try to realize it
Term
How Do Managers And Entrepreneurs Differ?
Definition
•Being an entrepreneur is what it takes to
start a business
•Being a manager is what it takes to grow or maintain a business
Term
Necessity Entrepreneurs
Definition
people who suddenly must earn a living and are simply trying to replace lost income and are hoping a job comes along
Term
Opportunity Entrepreneurs
Definition
those who start their business out of a burning desire rather than because they lost a job
Term
Technical Skills
Definition
the job‐specific knowledge needed to perform well in a specialized field
Term
Conceptual Skills
Definition
the ability to think analytically, to visualize an organization as a whole and understand how the parts work
Term
Human Skills
Definition
The ability to work well in cooperation with other people to get things done
Term
Most Valued Traits in Managers
Definition
•The ability to motivate and engage others
•The ability to communicate
•Work experience outside the United States
•High energy levels to meet the demands of global travel and a 24/7 world
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