Chapter 1 - Management Flashcards
Management
Getting work done through others.
Efficiency
Getting work done with a minimum of effort, expense, or waste.
Effectiveness
Accomplishing tasks that help fulfill organizational objectives.
4 Management Functions - (Classical)
Planning, Organizing, Controlling, Leading.
Planning
Determining organizational goals and the means for achieving them.
Organizing
Deciding where decisions will be made, who will do what jobs and tasks, and who will work for whom.
Controlling
Monitoring progress toward goal achievement and taking corrective action when needed.
Leading
Inspiring and motivating workers to work hard to achieve organizational goals.
Meta-Analysis
A study of studies, a statistical approach that provides the best scientific estimate of how well management theories and practices work.
4 Levels of Management
Top managers, middle managers, first-line managers, and team leaders.
Top Managers
Executives responsible for the overall direction of the organization. (Change, commitment, culture and environment)
Middle Managers
Managers responsible for setting objectives consistent with top management’s goals, and planning and implementing sub-unit strategies for achieving these objectives. (Resources, objectives, coordination, sub-unit performance, strategy implementation)
First-Line Managers
Managers who train and supervise performance of non managerial employees and who are directly responsible for producing the company’s products or services. (non managerial worker supervision, teaching and training, scheduling)
Team Leaders
Managers responsible for facilitating team activities toward goal accomplishment. (facilitation, external relationships, internal relationships)
3 Managerial Roles (Mintzberg’s Managerial Roles and Sub-roles)
Interpersonal roles, informational roles and decisional roles.
Figurehead Role
The interpersonal role managers play when they perform ceremonial duties.
Leader Role
The interpersonal role managers play when they motivate and encourage workers to accomplish organizational objectives.
Liaison Role
The interpersonal role that managers play when they deal with people outside their units.
Monitor Role
The informational role managers play when they scan their environment for information.
Disseminator Role
The informational role mangers play when they share information with others in their departments or companies.
Spokesperson Role
The informational role managers play when they share information with others outside their departments or companies.
Resource Allocator Role
The decisional role managers play when they decide who gets what resources.
Negotiator Role
The decisional role managers play when they negotiate schedules, products, goals, outcomes, resources, and employee raises.
Technical Skills
The ability to apply the specialized procedures, techniques, and knowledge required to get the job done.
Human Skills
The ability to work well with others.
Conceptual skills
The ability to see the organization as a whole, how the different parts affect each other, and how the company fits into or is affected by its environment.
Motivation to Manage
An assessment of how enthusiastic employees are about managing the work of others.
Competitive advantage through people
Employment security, selective hiring, self managed teams and decentralization, high wages contingent of organizational performance, training and skill development, reduction of status differences, sharing information.
Entrepreneur Role
The decisional role managers play when they adapt themselves, their subordinates, and their units to incremental change.
Disturbance Handler Role
The decisional role managers play when they respond to severe problems that demand immediate action.
Good management is…
Getting work done through others to accomplish tasks that help fulfill organizational objectives as efficiently as possible.
Old-style management
Old-style managers:
- think of themselves as the “manager” or the “boss”
- follow the chain of command
- make decisions by themselves
- keep proprietary company information confidential
- demands long hours
New-style management
New-style managers:
- think of themselves as sponsors, team leaders, or internal consultants
- work with anyone who can help them accomplish their goals
- ask others to participate in decisions
- share proprietary company information with others
- demands results
4 management functions - (new)
Making things happen, meeting the competition, organizing people, projects and processes, and leading.
Types of Top Managers
CEO, COO, Vice President, Corporate Head
Types of Middle Managers
General Manager, Plant Manager, Regional Manager, Divisional Manager
Types of First-line Managers
Office Manager, Shift Supervisor, Department Manager
Types of Team Leaders
Team Leaders, Team Contact, Group Facilitator
What companies look for in managers (Managerial Skills)
Technical skills, human skills, conceptual skills and motivation to manage.
Mistakes managers make
- Insensitive to others: abrasive, intimidating, bullying style.
- Cold, aloof, arrogant
- Betrayal of trust
- Overly ambitious: thinking of the next job, playing politics.
- Specific performance problems with the business
- Over managing: unable to delegate or build a team
- Unable to staff effectively
- Unable to think strategically
- Unable to adapt to boss with different style
- Overdependent on advocate or mentor
Importance of Managerial skills to different managerial jobs
Technical skills are most important for lower level managers.
Human skills are equally important at all levels of managers.
Conceptional skills and Motivation to Manage increase in importance as managers rise through the managerial ranks.
Manager’s initial expectations
- Be the boss
- Formal authority
- Manage tasks
- Job is not managing people
Expectations after 6 months as manager
- Initial expectations were wrong
- Fast pace
- Heavy workload
- Job is to be problem-solver and trouble-shooter for subordinates
Expectations after a year as manager
- No longer “doers”
- Communication, listening, and positive reinforcement
- Job is people development
Competitive advantage through people:
1.Employment security
Is the ultimate form of commitment that companies can make to their workers. Employees can innovate and increase company productivity without fearing the loss of their jobs.
Competitive advantage through people:
2. Selective hiring
If employees are the basis for a company’s competitive advantage, and those employees have employment security , then the company needs to aggressively recruit and selectively screen applicants in order to hire the most talented employees available.
Competitive advantage through people:
3. Self-managed teams and decentralization
Self-managed teams are responsible for their own hiring, purchasing, job assignments, and production. They can often produce enormous increases in productivity through increased employee commitment and creativity. Decentralization allows employees who are closest to (and most knowledgeable about) problems, production and customers to make timely decisions. Decentralization increases employee satisfaction and commitment.
Competitive advantage through people:
4. High wages contingent on organizational performance
High wages are needed to attract and retain talented workers and to indicate that the organization values its workers. Employees, like company founders, shareholders, and managers, need to share in the financial rewards when the company is successful. Why? Because employees who have a financial stake in their companies are more likely to take a long-run view of the business and think like business owners.
Competitive advantage through people:
5. Training and skill development
Like a high-tech company that spends millions of dollars to upgrade computers or research and development labs, a company whose competitive advantage is based on its people must invest in the training and skill development of its people.
Competitive advantage through people:
6. Reduction of status differences
These are fancy words that indicate that the company treats everyone, no matter what their job, as equals. There are no reserved parking spaces. Everyone eats in the same cafeteria and has similar benefits. The result: much improved communication as employees focus on problems and solutions rather than how they are less valued than managers.
Competitive advantage through people:
7. Sharing information
If employees are to make decisions that are good for the long-run health and success of the company, they need to be given information about costs, finances, productivity, development times, and strategies that were previously known only by company managers.
Interpersonal Roles
Figurehead role, leader role and liaison role
Informational Roles
Monitor role, disseminator role and spokesperson role
Decisional Roles
Entrepreneur role, disturbance handler role, resource allocator role, and negotiator role
