Chapter 1 Flashcards
organizations
collections of people who work together and coordinate their actions to achieve a wide variety of goals
mangagement
the planning, organizing, leading and controlling of human and other resources to achieve organizational goals effectively and efficiently.
managers
the people responsible for supervising the use of an organizations resources to meet its goals
resources include
people, skills, know-how, machinery, raw materials, computers and IT, and financial capital
organizational performance
a measure of how efficiently and effectively managers use organizational resources to satisfy customers and achieve organizational goals
efficiency
a measure of how well or productively resources are used to achieve a goal
effectiveness
a measure of the appropriateness of the goals an organization is pursuing and the degree to which the organization achieves these goals
low efficiency/high effectiveness
manager chooses the right goals to pursue, but does a poor job of using resources to achieve these goals
low efficiency/low effictiveness
manager chooses wrong goals to pursue and makes poor use of resources
high efficiency/high effectiveness
manager chooses the right goals to pursue and makes good use of resources to achieve these goals
high efficiency/low effectiveness
manager chooses inappropriate goals, but makes good use of resources to pursue these goals
low efficiency/high effectiveness result
a product that customers want, but that is too expensive for them to buy
low efficiency/low effectiveness result
a low-quality product that customers do not want
high efficiency/high effectiveness result
a product that customers want at a quality and price that they can afford
high efficiency/low effectiveness result
a high-quality product that customers do not want
the more effective and efficient use an organization can make of resources
the grater the relative well being of people
four tasks of management
planning, leading, organizing, controlling
planning
process of identifying and selecting appropriate goals and courses of action
steps in the planning process
- deciding on which goals to pursue
- deciding what strategies to adopt to attain these goals
- deciding how to allocate organizational resources
strategy
cluster of decisions about what goals to pursue, what actions to take, and how to use resources to achieve goals
organizing
structuring working relationships in a way that allows organizational members to work together to achieve organizational goals
organizational structure
a formal system of task and reporting relationships that coordinates and motivates organizational members so that they work together to achieve organizational goals