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| A general term that incorporates human resources, natural resources, and financial resources |
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| The process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources |
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| A management function that includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives |
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| A management function that includes desigining 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 |
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| Creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organization's goals and objectives |
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| A management function that involves 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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| An encompassing explanation of why the organization exists and where it's trying to head |
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| An outline of the fundamental purposes of an organization |
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| The broad, long-term accomplishments an organization wishes to attain |
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| Specific, short-term statements detailing how to achieve the organization's goals |
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| A planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats |
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| The process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals |
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| The process of developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done |
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| Operational planning is... |
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Definition
| The process of setting work standards and schedules necessary to implement the company's tactical objectives |
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| Contingency planning is... |
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| The process of preparing alternative courses of action that may be used if the primary plans don't achieve the organization's objectives |
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| Crisis planning involves... |
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Definition
| Reacting to sudden changes in the environment |
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| Decision making involves... |
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Definition
| Choosing among two or more alternatives |
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Definition
| The process of solving the everyday problems that occur. Problem solving is less formal than decision making and usually calls for quicker action |
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| Coming up with as many solutions to a problem as possible in a short period of time with no censoring of ideas |
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| Listing all the pluses for a solution in one column, all the minuses in another, and the implications in a third column |
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| An organization chart is... |
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Definition
| A visual device that shows the relationship and divides the organization's work; it shows who is accountable for the completion of specific work and who reports to whom |
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Term
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Definition
| The highest level of management, consisting of the president and other key company executives who develop strategic plans |
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| The level of management that includes general managers, division managers, and branch and plant managers who are responsible for tactical planning and controlling |
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| Supervisory management involves... |
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| Managers who are directly responsible for supervising workers and evaluating their daily performance |
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Definition
| Skills that involve the ability to perform tasks in a specific discipline or department |
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| Human relations skills are... |
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Definition
| Skills that involve communication and motivation; they enable managers to work through and with people |
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| Human relations skills allow managers to... |
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| Work through and with people |
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Definition
| Skills that involve the ability to picture the organization as a whole and the relationships among its various parts |
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Term
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Definition
| A management function that includes hiring, motivating, and retaining the best people available to accomplish the company's objectives |
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| Autocratic leadership is... |
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Definition
| A leadership style that involves making managerial decisions without consulting others |
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| Participative (demographic) leadership is... |
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Definition
| A leadership style that consists of managers and employees working together to make decisions |
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| Free-rein (laissez-faire) leadership is... |
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Definition
| A leadership style that involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives |
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Definition
| Giving workers the education and tools they need to make decisions |
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| Knowledge management involves... |
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Definition
| 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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| External customers are... |
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Definition
| Dealers, who buy products to sell others, and ultimate customers (or end users), who buy products for their own personal use |
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| Ultimate customers are also known as... |
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| Internal customers are... |
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| Individuals and units within the firm that receive services from other individuals or units |
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Term
| How are managers' roles changing? |
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Definition
| Managers are being educated to guide, train, support, and teach employees rather than tell them what to do. |
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Term
| The four primary functions of management are... |
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Definition
1) Planning
2) Organizing
3) Leading
4) Controling |
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Definition
| Today, many managers are changing their approach to... |
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| Standards must be specific, attainable, and measurable. |
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Definition
| What qualities must standards possess to be used to measure performance results? |
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Term
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Definition
| Executives today must be more than just managers, they must also be... |
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Term
| What is the difference between a manager and a leader? |
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Definition
| A manager plans, organizes, and controls functions within an organization whereas a leader has vision and inspires others to grasps that vision, establishes corporate values, emphasizes corporate ethics, and doesn't fear change. |
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Term
| What skills do managers need? |
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Definition
Managers must have three categories of skill:
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 arts fit together) |
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Term
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Definition
| Managers at different levels need different... |
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| The most effective leadership style depends on the people being led and the situation. |
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Definition
| Which leadership style is most effective? |
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Term
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Definition
| Allocating resources (such as funds for various departments), assigning tasks, and establishing procedures for accomplishing the organizational objectives |
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Term
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Definition
| Broad, long-term achievements that organizations aim to accomplish |
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Term
| What are the steps involved in decision making? |
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Definition
1) Define the situation
2) Describe and collect needed information
3) Develop alternatives
4) Develop agreement among those involves
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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Definition
| Decision making is the heart of... |
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| What are the three levels of management in the corporate hierarchy? |
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Definition
The three levels of management are:
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
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Definition
| Giving employees the authority and responsibility to respond quickly to customer requests. Enabling is the term used to describe giving workers the education and tools they need to assume their new decision-making powers. Knowledge management is another way of enabling workers to do the best job they can. |
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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 are the four types of planning and how are they related to the organization's goals and objectives? |
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Definition
1) Strategic planning (broad, long-range planning that outlines the goals of the organization)
2) Tactical planning (specific, short-term planning that lists organizational objectives
3) Operational planning (part of tactical planning and involves setting specific timetables and standards)
4) Contingency planning (involves developing an alternative set of plans in case the first set doesn't work out) |
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Term
| The planning function involves the process of... |
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Definition
| Setting objectives to meet the organizational goals |
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Term
| What reasons can be given to account for changes in management? |
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Definition
| Business people are being challenged to be more ethical and to make their accounting practices more visible to investors and the general public. Change is now happening faster than ever, and global competition is just a click away. Managing change is an important element of success, particularly in light of today's emphasis on speed in the global marketplace. National borders mean much less now than ever before, and co-operation and integration among companies have generally increased. Within companies, knowledge workers are demaninding managerial styles that allow for freedom, and the workforce is becoming increasingly diverse, educated, and self-directed. |
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Term
| Managing change, particularly in light of today's emphasis on speed in the global marketplace |
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Definition
| An important element of success is... |
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