Business Ch 4

Question 1

What is management

Answer 1

Process of achieving organizational objectives through people and other resources

Question 2

Management hierarchy

Answer 2

Top- CEO, CFO, Governor, mayor
Middle- Regional manager, division head, director
Supervisory- Supervisor, shift manager, program manager

Question 3

Management functions

Answer 3

Planning- Process of anticipating future events and conditions and determining courses of action for achieving organizational objectives
Organizing- Process of blending human and material resources through formal structure of tasks and authority; rearranging work, diving tasks among employees, coordinating them to ensure implementation of plans and accomplishment of objectives
Directing- Guiding and motivating employees to accomplish organizational objectives
Controlling- Function of evaluating an organization’s performance against it’s objectives

Question 4

Planning

Answer 4

Setting direction for employees
Creating goals and objectives
Make long and short term plans for meeting goals/objectives
What, when, and how to do something

Question 5

Organizing

Answer 5

Obtaining and coordinating resources needed to carry out plans
Delegating tasks
Organizing a budget
Staffing the organization
Following through to make sure that plans accomplish overall goals

Question 6

Directing

Answer 6

Motivating others
Using interpersonal skills to influence, guide, and lead people
There are various leadership styles

Question 7

Controlling

Answer 7

Making adjustments so that company goals are met
Setting standards for work
Training employees
Evaluating employee performance and giving feedback
Solving problems
Budget or staffing adjustments

Question 8

Leadership

Answer 8

Ability to direct or inspire people to attain certain goals

Question 9

Leadership traits

Answer 9

Empathy
Self- awareness
Objectivity

Question 10

Source of leadership power

Answer 10

Position in company
Expertise and experience
Personality

Question 11

Leadership styles

Answer 11

Describes how a person manages others
Affects organization, decision making, planning, staffing, etc
Style may depend on those being managed and company goals

Question 12

Autocratic

Answer 12

Clear instruction and expectations
Not much input from others
Manager makes the decisions
Clear hierarchical structure
Lots of pressure on the manager
Helpful in life-or-death circumstances

Question 13

Democratic

Answer 13

Consults staff/team members
Input from others is valued
Employees are encouraged to share ideas
Manager still makes the final decision
May take longer for a decision to be made
Not all employees feel heard

Question 14

Laissez-faire

Answer 14

Managers are mentors
Employees make their own decisions
Managers are not involved in everyday tasks
Hands off managements
Works best when employees are highly skilled and motivated

Question 15

Transformational

Answer 15

Manager provides clear, overarching direction
Managers provide encouragements and focus on growth
Promotes innovation

Question 16

Organization

Answer 16

Structured group of people working together to achieve common goals
Human interaction
Goal-directed activities
Structure

Question 17

Departmentalization

Answer 17

Process of dividing work activities into units within organization

Question 18

5 major forms of departmentalization

Answer 18

Product
Geographical
Customer
Functional
Process

Question 19

Organizational chart

Answer 19

Diagram that displays a company’s structure
Identifies roles, relationships, and responsibilities
It shows who is in charge of whom

Question 20

Hierarchiacal structure

Answer 20

Higher ranking professionals are on top
Lower ranking individuals are beneath
Supervisors are clear
May be divided by department, product types, geography, etc

Question 21

Flat structure

Answer 21

Individuals are on the same playing field
Eliminated middle management
More autonomy
Works well for small businesses, more challenging with larger organizations

Question 22

Matrix structure

Answer 22

Employees are grouped by skill, department, or reporting manager
Combines different organizational structure components
Popular when project managers seek out employees from different areas, that then report to 2 managers
Opens up communication networks within an organization

Question 23

Organizational chart relationships

Answer 23

Uses lines to show how one person is related to another
Solid line- who reports to whom
Dotted line- more informal relationship. Ex you work on project with/for person
Squares are used around each person/role

Question 24

Human resources

Answer 24

People employed in a business
Employees provide skills, knowledge, labor, and experience needed to make business productive

Question 25

Human resource management

Answer 25

Process of finding, selecting, training, and evaluating employees

Question 26

HR objectiives

Answer 26

Providing qualified, well trained employees for the organization

Question 27

Corporate culture

Answer 27

An organization’s system of principles, beliefs, and values