Term
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Definition
| the process of working with and through others to achieve organizational objectives in a changing environment |
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Term
| Key Aspect of the Management Process |
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Definition
- Achieving organizational objectives
- Getting the most out of the limited resources
- Working well with and through others
- Balancing effectiveness and efficiency
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Term
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Definition
| those who had not lived up to their peers' and superiors' high expectations |
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Term
| Shortcomings of derailed managers |
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Definition
- Problems with interpersonal relationships
- Failure to meet business objectives
- Failure to build and lead a team
- Inability to change and adapt during transition
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Term
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Definition
| a target to be strived for and hopefully attained |
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Term
| What do organizational objectives require? |
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Definition
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Term
| What are good measuring sticks for performance? |
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Definition
| Organizational Objectives |
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Term
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Definition
| promptly achieving a stated objective |
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Term
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Definition
| the resources required to achieve an objective are weighed against what was actually accomplished, benefits outweight the costs |
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Term
| Managers are responsible for balancing_____ and ____. |
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Definition
| effectiveness and efficiency |
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Term
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Definition
| a favorable ratio between inputs and output |
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Term
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Definition
| the constant struggle to balance effectiveness and efficiency, meeting the needs of today without sacrificing future generations' ability to meet their own needs |
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Term
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Definition
| the study of how limited resources are distributed among alternative uses |
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Term
| Basic factors of production |
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Definition
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Term
| Another term for Management |
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Definition
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Term
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Definition
- Globalization
- Evolution of Product Quality
- Environmentalism/Sustainability
- Ethical Reawakening
- Internet and Social Media Revolution
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Term
| Ten Major Changes of the Manager |
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Definition
- Administrative,-not boss but team member, teacher and advocate
- Cultural Orientation- not mono but multi cultural and lingual
- Quality/Ethics/Environment Impact- not after thought but fore thought
- Power Bases- Not reward/punish but relationship/reward
- Primary Organizational Unit- not me but WE
- Interpersonal dealings- not competition but cooperation, win-win
- Learning- not periodic but continuous
- Problems- not threat and avoidance but opportunity for learning and improvement
- Change and Conflict- not resist/react/avoid but anticipate/seek/channel
- Information- not restrict/hoard but access/share
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Term
| Most controversal aspect of globalization |
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Definition
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Term
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Definition
| the outsourcing of jobs from developed countries to lower wage countries |
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Term
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Definition
| one who is comfortable transacting business in multiple languages and cultures |
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Term
| Four Stages of Evolution for Product/Service Quality |
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Definition
- Fix it in - Rework it (most reactive)
- Inspect it in- inspections of samples
- Build it in- everyone who touches the product is responsible for the quality
- Design it in- emphasis on continuous improvement where customer and employees are involved (most proactive)
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Term
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Definition
| building and designing it in |
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Term
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Definition
| platforms that give anyone the means to create and publish content online |
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Term
| Management is a complex mixture of ? |
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Definition
| Systematic techniques and common sense |
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Term
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Definition
| administrative duties, tells us WHAT they do |
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Term
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Definition
| Observable behaviors that tell us HOW functions are carried out |
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Term
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Definition
- Planning- the PRIMARY mgmt function
- Decision making-investigate alternative courses of action, ethical
- Organizing- dividing and assigning, ensures efficient use of human resources
- Staffing- you are only as good as the people working for you
- Communicating- 2 way process, responsive, upward communication, communicate to employees all necessary aspects to get the job done
- Motivating-satisfying needs and meeting expectations with meaningful work and valued rewards
- Leading- role models, adapt their style to fit demands
- Controlling- compare desired results with actual results and take corrective action
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Term
| 3 Effective Managerial Skills Categories |
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Definition
- Technical- applying education, training, and experience (clarify goals, problem solving, creativity)
- Teambuilding- listening and communicating to develop an effective team (coaching, team problem solving, coordinating, cooperating)
- Drive- setting goals, maintain standards, and evaluate performance to achieve effective outcomes (standards, details, readiness to work, exert pressure not dominating)
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Term
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Definition
- Overburdened with obligations
- Not easily delegate
- Overworked
- Forced to do tasks superficially
- Brevity and fragmentation
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Term
| How are managerial skills acquired? |
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Definition
- The school of hard knocks, experience
- Relationships with bosses, mentors, and co-workers
- Formal training and education
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Term
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Definition
- Making a big mistake
- Overwhelmed by a difficult assignment
- Feeling threatened
- Stuck in a dilemma
- Suffering an injustice at work
- Being personally attacked
- Losing out to someone else
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Term
| How can students learn to manage? |
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Definition
| by merging theory, practice, and observing role models |
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Term
| What is a small business? |
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Definition
| an independently owned and managed profit seeking enterprise with fewer than 100 employees |
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Term
| What is the failure rate of small businesses? |
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Definition
| 18% for small businesses over an 8 yr period |
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Term
| What are two myths of small businesses? |
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Definition
- 80% failure rate
- Low wage jobs
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Term
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Definition
| the process by which individuals, either on their own or in an organization, pursue opportunities without regard to the resources they currently control |
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Term
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Definition
| when an organization outgrows the enterpreneurs ability to manage it |
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Term
| What tough dilemma do enterpreneurs face? |
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Definition
| Either grow with the company or have the courage to step aside and hand the reigns over to professional mgrs. |
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Term
| What are the "orders of the day" for managers? |
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Definition
| Speed, teamwork, and flexibility |
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Term
| Some Organizational Objective examples |
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Definition
- To make a profit
- Returns to investors
- Grow, Diversify, Expand
- Be competitive
- Increase market share
- Social/Environment responsibility
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Term
| What kind of work/process is management? |
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Definition
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Term
| What are the two most limited resources? |
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Definition
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