ch 6 Flashcards
Process of coordinating ppl and other resources to achive the goals of an organizaition
Management
Most orgs make use of 4 kinds of resources to meet org goals:
1.Material resources
2.Human resources
3.Financial resources
4.Informational resources
the tangible physical resources an org uses
Material resources
People
Human resources
Funds an org uses to meet its obligations to investors and creditors
financial resources
Informational resources
Establishing org goals and deciding how to accomplish them
Planning
A statement of the basic purpose that makes an org diff from others
Mission
Identification and evaluation of a firm’s strengths, weaknesses, opportunities, and threats.
SWOT analysis
firms favorable characteristics and core competencies - approaches and processes that a company performs well that may give it an advantage over its competitors
Strengths
Internal limitations a company faces in developing or implementing plans
Weaknesses
Favorable conditions in the environment that could benefit the org of properly executed
opportunities
Conditions or barrier that may prevent the firm from reaching its objective
Threats
Outline of the action by which an org intends to accomplish its goals and objectives
Plan
Strategic Plan
Tactical Plan
Operational Plan
contingency plan
Types of plans
Strategic Plan
Orgs broadest plan, dev as a guide for major policy setting and decision making
Smaller-scale plan dev to implement a strategy
Tactical plan
Type of plan designed to implement tactical plans
operational plan
A plan that outlines alternative courses of action that may be takes if org other plans are disrupted or become ineffective
Contingency plan
The grouping of resources and activities to accomplish some end result in an efficient and effective manner
organizing
Process of evaluating and regulating ongoing activities to ensure that goals are achieved
controlling
-the control function includes 3 steps:
-Setting standards
Ex: establishes a goal of increasing profits by 12 percent
-Measuring actual performance
Ex: Southwest’s management will monitor its profit on a monthly basis to ensure success
-Taking corrective action
Ex: After 3 mths management finds that prof have only increased by 1%, thus corrective action must take place
Controlling ongoing activities
-An upper-level exec who guides and controls the overall fortunes of an org.
-Generally responsible for dev the orgs mission
-Determines the firm’s strategy
-Common titles: president, vice president, chief exec
top manager
a manager who implements the strategy and major policies dev by top management
-Develops tactical and operational plans
-Coordinates, and supervises the activities of first-line managers
Middle manager
A manager who coordinates and supervises the activities of operating employees
-spends most time working with and motivating employees, answering questions and solving day-to-day probs
First-line manager
Manager who is primarily responsible for an orgs financial resources
Financial manager
A manager who manages the systems that convert resources into goods and services
Operations manager
The manager who responsible for facilitating the exchange of prod between an organization and its customers or clients
marketing manager
- A person charged with managing an org human resource programs
Human resources manager
manager who is not associated with any specific functional area but who provides overall administrative guidance and leadership
Administrative Manager
Analytical Skills
Interpersonal Skills
Conceptual Skills
Communication Skills
technical Skills
Key management Skills
-Ability to think in abstract terms
-manager understands how the various parts of an org or idea can fit together
Conceptual Skills
the ability to deal effectively with other people
Ex:
-relate to people
-Understand their needs and motives
-Show genuine compassion
Interpersonal skills
-Ability to speak, listen and write effectively
-Oral Communication skills are used when a manager makes sales presentations, conducts interviews, and holds press conf
-Written communication skills are important to prepare letters, emails, memos, sales reports, and other written documents.
Communication skills
-Ability to influence other
-Strives for voluntary cooperation, whereas a manager may have to depend on coercion to change employee behavior
Leadership
Have:
-Legitimate power of position
-Authority within an org to influence others to work toward an orgs objectives.
Formal leaders
Do not have the authority to influence others to work towards the orgs objectives
May or may not exert their influence in support of the org
Informal Leaders
-Ability to grant rewards or impose punishments
-Possession of expert knowledge
-Personal attraction or charisma
-Both forms of leadership make use of several kinds of power:
Personality-based leadership style in which the manager seeks to inspire workers with a vision of what can be accomplished to benefit all stakeholders
Entrepreneurial leadership
Effective Managerial leadership style
-No best managerial leadership, most effective style depends on the right balance between;
-interaction among employees
-Characteristics of the work situation
-Managers personality
-the discrepancy between an actual condition and the desired condition (can be positive)
-Effective managers clarify situations, examine the causes of probs, and consider how individual behaviors and values affect the way problems or opportunities are defined
problem
Coordination of efforts directed at improving customer satisfaction, increasing employee participation, strengthening supplier partnerships, and facilitating an organizational atmosphere of continuous quality improvement
Total quality management
Process of evaluating the prod, processes, or management practices of another organization that is superior in some way in order to improve quality
benchmarking
