Chapter 1 Flashcards
What is an organization?
A group of people working together in a structured and coordinated fashion to achieve a set of goals
What are human resources?
Managerial talent and labor
What are financial resources?
Capital investments to support ongoing and long-term operations
What are physical resources?
Raw materials, office and production facilities, and equipment
What are information resources?
Usable data needed to make effective decisions
What are the four basic types of resources that organizations use in their environment?
Human, financial, physical, information
What is management?
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
What set of activities are included in management?
Planning
and decision making, organizing,
leading, and controlling
What are organization resources?
Human, financial, physical, and information
How does management try to achieve organizational goals?
In an EFFICIENT and EFFECTIVE manner
What does it mean to be efficient?
Using resources wisely and in a cost-effective way
What does it mean to be effective?
Making the right decisions and successfully implementing them
What is a manager?
Someone whose primary responsibility is to carry out the management process
What does a manager do?
Plans and makes decisions, organizes, leads, and controls human financial, physical, and information resources
What is planning and decision making?
(Part of the management process)
Determining goals and courses of action
What is organizing?
(Part of the management process)
Coordinating activities and resources
What is leading?
(Part of the management process)
Motivating and managing people
What is controlling?
(Part of the management process)
Monitoring organizational progress toward goal attainment
Setting the organization’s
goals and deciding how best
to achieve them is part of what management process?
Planning and Decision Making
Determining how best to group activities and resources
Organizing
Motivating members of the organization to work in the best interests of the organization
Leading
Monitoring and correcting ongoing activities to facilitate goal attainment
Controlling
What are top managers?
They are the small group of executives who manage the overall organization. They create the organization’s goals, overall strategy, and operating policies
What are middle managers?
They are primarily responsible for implementing the policies and plans of top managers. They also supervise and coordinate the activities of lower level managers
What are first-line managers?
They supervise and coordinate the activities of operating
employees. Handle more day to day operations
What are areas that managers can be differentiated into?
Marketing, financial, operations, human resource, administration, and other areas
What are marketing managers?
Work in areas related to getting consumers and clients to buy the organization’s products or services
What are some responsibilities that marketing managers have?
New-product development, promotion, and distribution
What are financial managers?
Deal primarily with an organization’s financial resources
What are some responsibilities that financial managers have?
Accounting, cash management, investments
What are operations managers?
They are involved with systems that create products and services
What are some responsibilities that operations managers have?
Production control, inventory, quality control, plant layout, site selection
What are human resources managers?
They are involved in human resource activities
What are some responsibilities that human resource managers have?
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
What are administrative managers?
They are generalist familiar with all functional areas of management and are not associated with any particular management specialty
What is an example of an administrative manager?
Hospital or clinic administrator
What are other kinds of managers?
Hold specialized managerial positions ( such as public relations managers) directly related to the needs of the organization
What are interpersonal roles?
Figurehead, leader and liaison roles involve dealing with other people
How many primary managerial roles are there, according to Mintzberg?
3, interpersonal, informational, and decisional roles
What are informational roles?
Monitor, disseminator, and spokesperson roles involve the processing of information
What are decisional roles?
Entrepreneur, disturbance handler, resource allocator, and negotiator are managerial roles primarily related to making decisions
Informational Roles = ?
Relationships
What are the most fundamental management skills?
Technical, interpersonal, conceptual, diagnostic, communication, decision-making, and time-management
What are technical skills?
To accomplish or understand the specific kind of work being done in an organization
What are interpersonal skills?
To communicate with, understand, and motivate both individuals and groups
What are conceptual skills?
To think in the abstract
What are diagnostic skills?
The manager’s ability to visualize the most appropriate response to a situation
What are communication skills?
To convey ideas and information effectively to others and to receive the same effectively from others
What are decision-making skills?
To recognize and define problems and opportunities and then to select an appropriate course of action to solve problems and capitalize on opportunities
What are time-management skills?
The manager’s ability to prioritize work, to work efficiently, and to delegate appropriately
Is management science or art?
Effective management includes both
What is the science of management?
Assumes that problems can be approached using rational, logical, objective, and systematic ways
What skills are important for the science of management?
Technical, diagnostic, and decision-making skills, and techniques to solve problems
What is the art of management?
Making decisions and solving problems using a blend of intuition, experience, instinct, and personal insights
What skills are important for the art of management?
Using conceptual, communication, interpersonal, and time-management skills to accomplish the tasks associated with managerial activities
What are for-profit organizations?
Large businesses, small businesses and start-up businesses, international management
What are examples of large businesses for for-profit organizations?
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
What are not-for-profit organizations?
Governmental organizations, educational organizations, healthcare facilities, and nontraditional settings
What are examples of governmental organizations for not-for profit organizations?
Local, state, and federal
What are examples of educational organizations for not-for profit organizations?
Public and private schools
Texas A&M is what type of profit organization?
Not-for-organization and it is governmental and educational
What are examples of healthcare facilities?
Public hospitals and HMOs
What are examples of nontraditional settings?
Community, social, and spiritual groups
