Best Practices in Management: Projects, Staffing, Scheduling, and Budgeting Flashcards
The 4 Steps of Strategic Management Process
- strategic objectives and analysis
- strategic formulation
- strategic implementation
- strategic evaluation and control
Strategy/Action Plan
- defines an organizations competitive advantage
- bridges the gap between long term vision and short terms decisions
Objectives
a series of short, measurable actions that state what/when/ and how much will be done
- Negotiator (managerial role)
negotiating budget, labor, and other formal disputes
- Resources allocator (managerial role)
making decisions of who gets what, how much, and when
- Disturbance handler (managerial role)
involuntarily reacting to conditions
- Entrepreneur (managerial role)
seeking to improve business, adapt to changing markets, and react to opportunities
- Spokesperson (managerial role)
present info to people outside the organization
- Disseminator (managerial role)
processing specific privileged info to people outside the organization
- Monitor (managerial role)
continuously scanning environment for info, and talking with liaisons and subordinates
- Liason (managerial role)
establish and maintain contacts outside the chain of command
- Leader (managerial role)
being able to influence others towards a goal
- Figurehead (managerial role)
ceremonial duties i.e. welcoming official visitors and signing legal documents
The 3 Managerial Roles Categories
- interpersonal: relational interaction and management
- informational: gathering, analyzing, storing, and disseminating info
- decisional: the responsibility of making choices on behalf of the organization
The 10 Most Common Managerial Roles
- figurehead
- leader
- liason
- monitor
- disseminator
- spokesperson
- entrepreneur
- disturbance handler
- resource allocator
- negotiator
Role
an organized set of behaviors
Organizational Heirarchy
top, middle, frontline, and team leaders
Business Indicators
numbers indicating a positive or negative trend like revenue, profit margin, and amount of debt
The 5 Fundamental Management Functions
- planning
- organizing
- leading
- coordinating
- controlling
Efficiently vs. Effectively
Max level of productivity vs. achieving best results
Contingency Leadership
theorizes that effective group performance depends on the match between the leader’s style of interacting with subordinates and the degree to which the situation allowed the leader to control and influence
The 2 Types of Behavioral Dimensions
- consideration: emphasis on employee’s feelings and relationships
- initiating structure: a focus on tasks to achieve goals
Manager vs. Leader
- leaders may not have formal power, but followers give the leader power through compliance
- managers have to relay on formal power to get subordinates to accomplish goals
The 4 Major Components of Leadership
- idealized influence
- inspirational motivation
- intellectual stimulation
- individualized consideration