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MGMT 309 > Chapter 1 > Flashcards

Chapter 1 Flashcards

1
Q

What is an organization?

A

A group of people working together in a structured and coordinated fashion to achieve a set of goals

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2
Q

What are human resources?

A

Managerial talent and labor

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3
Q

What are financial resources?

A

Capital investments to support ongoing and long-term operations

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4
Q

What are physical resources?

A

Raw materials, office and production facilities, and equipment

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5
Q

What are information resources?

A

Usable data needed to make effective decisions

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6
Q

What are the four basic types of resources that organizations use in their environment?

A

Human, financial, physical, information

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7
Q

What is management?

A

A set of activities (including planning and decision making, organizing, leading, and controlling) directed at an organization’s resources (human, financial, physical, and information), with the aim of achieving organizational goals in an efficient and effective manner

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8
Q

What set of activities are included in management?

A

Planning
and decision making, organizing,
leading, and controlling

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9
Q

What are organization resources?

A

Human, financial, physical, and information

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10
Q

How does management try to achieve organizational goals?

A

In an EFFICIENT and EFFECTIVE manner

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11
Q

What does it mean to be efficient?

A

Using resources wisely and in a cost-effective way

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12
Q

What does it mean to be effective?

A

Making the right decisions and successfully implementing them

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13
Q

What is a manager?

A

Someone whose primary responsibility is to carry out the management process

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14
Q

What does a manager do?

A

Plans and makes decisions, organizes, leads, and controls human financial, physical, and information resources

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15
Q

What is planning and decision making?

A

(Part of the management process)

Determining goals and courses of action

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16
Q

What is organizing?

A

(Part of the management process)

Coordinating activities and resources

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17
Q

What is leading?

A

(Part of the management process)

Motivating and managing people

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18
Q

What is controlling?

A

(Part of the management process)

Monitoring organizational progress toward goal attainment

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19
Q

Setting the organization’s
goals and deciding how best
to achieve them is part of what management process?

A

Planning and Decision Making

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20
Q

Determining how best to group activities and resources

A

Organizing

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21
Q

Motivating members of the organization to work in the best interests of the organization

A

Leading

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22
Q

Monitoring and correcting ongoing activities to facilitate goal attainment

A

Controlling

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23
Q

What are top managers?

A

They are the small group of executives who manage the overall organization. They create the organization’s goals, overall strategy, and operating policies

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24
Q

What are middle managers?

A

They are primarily responsible for implementing the policies and plans of top managers. They also supervise and coordinate the activities of lower level managers

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25
Q

What are first-line managers?

A

They supervise and coordinate the activities of operating

employees. Handle more day to day operations

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26
Q

What are areas that managers can be differentiated into?

A

Marketing, financial, operations, human resource, administration, and other areas

27
Q

What are marketing managers?

A

Work in areas related to getting consumers and clients to buy the organization’s products or services

28
Q

What are some responsibilities that marketing managers have?

A

New-product development, promotion, and distribution

29
Q

What are financial managers?

A

Deal primarily with an organization’s financial resources

30
Q

What are some responsibilities that financial managers have?

A

Accounting, cash management, investments

31
Q

What are operations managers?

A

They are involved with systems that create products and services

32
Q

What are some responsibilities that operations managers have?

A

Production control, inventory, quality control, plant layout, site selection

33
Q

What are human resources managers?

A

They are involved in human resource activities

34
Q

What are some responsibilities that human resource managers have?

A

Human resource planning, recruiting and selecting employees, training and development, designing compensation and benefit systems, formulating performance appraisal systems, and discharging low-performing and problem employees

35
Q

What are administrative managers?

A

They are generalist familiar with all functional areas of management and are not associated with any particular management specialty

36
Q

What is an example of an administrative manager?

A

Hospital or clinic administrator

37
Q

What are other kinds of managers?

A

Hold specialized managerial positions ( such as public relations managers) directly related to the needs of the organization

38
Q

What are interpersonal roles?

A

Figurehead, leader and liaison roles involve dealing with other people

39
Q

How many primary managerial roles are there, according to Mintzberg?

A

3, interpersonal, informational, and decisional roles

40
Q

What are informational roles?

A

Monitor, disseminator, and spokesperson roles involve the processing of information

41
Q

What are decisional roles?

A

Entrepreneur, disturbance handler, resource allocator, and negotiator are managerial roles primarily related to making decisions

42
Q

Informational Roles = ?

A

Relationships

43
Q

What are the most fundamental management skills?

A

Technical, interpersonal, conceptual, diagnostic, communication, decision-making, and time-management

44
Q

What are technical skills?

A

To accomplish or understand the specific kind of work being done in an organization

45
Q

What are interpersonal skills?

A

To communicate with, understand, and motivate both individuals and groups

46
Q

What are conceptual skills?

A

To think in the abstract

47
Q

What are diagnostic skills?

A

The manager’s ability to visualize the most appropriate response to a situation

48
Q

What are communication skills?

A

To convey ideas and information effectively to others and to receive the same effectively from others

49
Q

What are decision-making skills?

A

To recognize and define problems and opportunities and then to select an appropriate course of action to solve problems and capitalize on opportunities

50
Q

What are time-management skills?

A

The manager’s ability to prioritize work, to work efficiently, and to delegate appropriately

51
Q

Is management science or art?

A

Effective management includes both

52
Q

What is the science of management?

A

Assumes that problems can be approached using rational, logical, objective, and systematic ways

53
Q

What skills are important for the science of management?

A

Technical, diagnostic, and decision-making skills, and techniques to solve problems

54
Q

What is the art of management?

A

Making decisions and solving problems using a blend of intuition, experience, instinct, and personal insights

55
Q

What skills are important for the art of management?

A

Using conceptual, communication, interpersonal, and time-management skills to accomplish the tasks associated with managerial activities

56
Q

What are for-profit organizations?

A

Large businesses, small businesses and start-up businesses, international management

57
Q

What are examples of large businesses for for-profit organizations?

A

Industrial firms such as
ExxonMobil, Toyota, BMW, Xerox, Unilever, and Levi Strauss; commercial banks such as Citicorp, Fuji Bank, and Wells Fargo; insurance companies such as Prudential, State Farm, and Metropolitan Life; retailers such as Sears, Safeway, and Target

58
Q

What are not-for-profit organizations?

A

Governmental organizations, educational organizations, healthcare facilities, and nontraditional settings

59
Q

What are examples of governmental organizations for not-for profit organizations?

A

Local, state, and federal

60
Q

What are examples of educational organizations for not-for profit organizations?

A

Public and private schools

61
Q

Texas A&M is what type of profit organization?

A

Not-for-organization and it is governmental and educational

62
Q

What are examples of healthcare facilities?

A

Public hospitals and HMOs

63
Q

What are examples of nontraditional settings?

A

Community, social, and spiritual groups

MGMT 309 (3 decks)

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