Business Functions: General Management Flashcards
What is management?
The act of planning, organising, leading and controlling people to achieve desired outcomes by utilising resources effectively and efficiently
What are the 3 main types of management?
Traditional management
Team management
Servant management
What is traditional management?
When there is a management hierarchy in place. Manager sets goals and objectives for subordinates to meet. When targets are met, the manager receives the credit. Likewise, when targets are not met, the manager takes the blame
What is team management?
When the manager guides a team of employees in jointly setting goals and objectives. When targets are met, the entire team receives the credit. Likewise, when targets are not met, the entire team takes the blame.
What is servant management?
When the manager recognises employees as experts in their own rights and endeavours to assist them in achieving targets that they participated in setting. Servant management focuses primarily on the well-being and growth of the employees
What are the 7 management styles?
Autocratic management
Persuasive management
Consultative management
Democratic management
Chaotic management
Laissez-faire management
Management by walking around
What is management by walking around?
An approach where managers wander employee work areas to bridge the gap between management and employees, and to proactively listen to concerns and suggestions
How does management aid a business to achieve its goals?
By assembling and organising the factors of production.
What are the 10 managerial roles?
Interpersonal roles:
Figurehead
Leader
Liaison
Informational roles :
Monitor
Disseminator
Spokesperson
Decisional roles:
Entrepreneur
Disturbance handler
Resource allocator
Negotiator
What are the 3 most important managerial skills?
Conceptual skills
Human relational skills
Technical skills
What are the 4 main managerial activities?
Planning
Organising
Leading
Controlling
What are the 3 routes if organisational plans?
Strategic
Tactical
Operational
What are 7 organisational structures?
Line
Line and staff
Functional
Divisional
Project
Matrix
Hybrid
What is organisational design?
The process of aligning the organisational structure, role, talent, metrics, rewards and processes of a business with its goals, objectives and strategies
What are the 4 main components of leadership?
Scanning
Focusing
Mobilising
Aligning and inspiring
