CH 1 Flashcards
Why should we study management?
benefits, rewards, and opportunities for growth/learning
What are some of the benefits of studying management?
- insider’s understanding
- experience in knowing how to relate to supervisors
- better interactions with co-workers
- be able to manage yourself and career
- might make more money
What are some rewards of practicing management?
- sense of accomplishment
- stretch you abilities and magnify your range
- build a catalog of successful products or services
- become a mentor and help others
What are the 4 functions of management?
Planning: create goals and decide how to achieve them
Organizing: organize tasks, people, and resources to accomplish work
Leading: motivate, direct, and influence people to work to achieve the organization’s goals
Control: monitor performance, compare goals, and take corrective action
What is management?
1) the pursuit of organizational goals efficiently and effectively
2) integrating the work of people
3) planning, organizing, leading, and controlling the organization’s resources
What is effective and efficient management?
effective: achieve results and successfully carry out good decisions in order to achieve the organization’s goals
efficient: use resources (people, money, raw materials) wisely and cost-effectively
What are the levels and areas of the traditional pyramid of management?
TOP
1. top managers: future oriented, strategic, deal with uncertain and highly competitive conditions
ex: CEO, COO, president, senior vice president
- middle managers: implement plans of top managers and supervise first-line managers below
ex: plant manager, district manager, regional manager - first-line managers: short term operating decisions, direct daily tasks
ex: dept. head, foreperson, supervisor - team leaders: facilitate team activities and help team achieve goals
- nonmanagerial employees: work alone or with others
BOTTOM
areas: R&D, Marketing, Finance, Production, HR
What are two types of managers?
functional managers: responsible for one organizational activity
ex: Google has engineering, wearables, experience design lead, and vice president of hardware managers
general mangers: responsible for several organizational activities and they supervise other managers
ex: executive vice president
What are the 3 types of organizations?
for profit: making money
non-profit: for offering services
ex: colleges, hospitals, Red Cross, Salvation Army
mutual-benefit: for aiding members
ex: political parties, farm cooperatives, labor unions, trade associations, clubs
What are the 3 roles of managers?
interpersonal roles: interact with people inside and outside their work units
↳ they are known as figureheads, leaders, and liaisons
informational roles: receive and communicate information
↳ they are known as monitors, disseminators, and spokespersons
decisional roles: use information to make decisions to solve problems or take advantage of opportunities
↳ they are known as entrepreneurs, disturbance handlers, resource allocators, negotiators
What are Mintzberg’s findings?
- managers rely more on verbal than written communication
- managers work long hours
- manager’s work is characterized by fragmentation, brevity, and variety
What 3 skills do managers need?
technical skills: job-specific knowledge needed to perform well in a specialized field
conceptual skills: ability to think analytically, to visualize an organization as a whole and
understand how the parts work together
human (soft) skills: ability to work well in cooperation with other people to get things done;
the ability to motivate, to inspire trust, to communicate with others.
What are the 7 challenges of being a manager?
- Managing for competitive advantage.
↳ managers must be responsive to employees and customers; must stay ahead on innovations, quality, and efficiency - Managing for information technology.
- Managing for diversity.
- Managing for globalization.
- Managing for ethical standards.
- Managing for sustainability.
- Managing for happiness and meaningfulness.
