Ch 1 Flashcards
Management
process of working with people and distributing resources to achieve goals efficiently and effectively
effectiveness
level to which people or organizations achieve agreed-upon goals
efficiency
using smallest amount of resources to achieve the greatest output
4 major tasks of managers
- planning
- organizing
- leading
- controlling
planning
process of setting foals for the future, designing strategies, and deciding on the actions and resources needed to achieve success
organizing
process of orchestrating people, actions, resources, and decisions to achieve goals
leading
process of effectively motivating and communicating with people to achieve goals
controlling
process of monitoring activities, measuring results and comparing them with goals, and correcting performance when necessary
primary roles managers play in an organization
- interpersonal
- informational
- decisional
interpersonal roles
managers build relationships with the people they work with and act as a public symbol for the many people they represent
informational roles
managers gather, assess, and communicate information to individuals and teams in support of the organization’s values, mission, vision, and goals
decisional roles
managers are responsible for making judgments and decisions based on available information and analysis of the situation
key aspects of an entrepreneurial mindset
- work in unpredictable circumstances
- adapt to rapid change
- persevere in spite of setbacks
- accept and learn from failure
- become comfortable working with the unknown
fixed mindset
people believe their talents, intelligence, and abilities are set traits
growth mindset
people believe their talents, intelligence, and abilities can be developed through dedication, effort, and persistence
triple bottom line
people, planet, profit
top managers
set the direction and make decisions that affect everyone in the organization
middle managers
direct the work of first-line managers and make decisions affecting divisions or departments
first-line managers
make decisions affecting the daily operations for producing goods or services
mission
organization’s central purpose that sets forth the vision
vision
describes what the organization will be now and in the future
values
state the belief systems upheld by the organization and its employees
purpose of organizational mission, vision, and values
- shape decision-making, products and services, beliefs, and relationships with people inside and outside the org
- provide consistent and predictable environments in which employees and clients can work and do business
3 types of management skills
- conceptual skills
- technical skills
- relational skills
AND critical thinking
conceptual skills
ability to think through complex systems and problems
technical skills
ability to perform job-specific tasks
relational skills
ability to collaborate and communicate effectively with others
