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BTF > Chapter 2 - Managing a business > Flashcards

Chapter 2 - Managing a business Flashcards

1
Q

What is management?

A

Getting things done through other people

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2
Q

What is power?

A

Ability to get things done

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3
Q

What are the 6 types of power listed by French and Raven (CLERRN)?

A

Coercive power - physical force
Reward/Resource power - control over
Legitimate/position power - position
Expert power - experience/qualification
Referent/personal power - personality
Negative power - disrupt organisations

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4
Q

What is authority?

A

the right to do something or ask someone else to do it and expect it to be done

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5
Q

How is managerial authority exercised?

A

Making decisions
Assigning tasks to subordinates

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6
Q

What is responsibility?

A

the obligation a person has to fulfill a task which they have been given

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7
Q

What is accountability?

A

A person’s liability to be called to account for the fulfilment of tasks they have been given by a persons with a legitimate interest in the matter

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8
Q

What is delegation?

A

Giving a subordinate responsibility and authority to carry out a given task, manager retains overall responsibility

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9
Q

What are the 4 types of manager?

A

Line manager - authority over subordinate#

Staff manager - authority in giving specialist advice even where they have no line of authority

Functional manager - functional authority whereby authority is present to control performance in another department

Project manager - authority over project team members

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10
Q

What are the stages of the management process?

A

Leading
Planning
Organising
Controlling

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11
Q

What are the 3 managerial roles Mintzberg defines?

A

Informational role - checking data recieved and passing it on to relevant people.

Interpersonal role - leading for a team

Decisional role - allocate resources, handle disturbances, negotiate, solves problems and act as an entrepreneur

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12
Q

What is culture?

A

Common assumptions, values and beliefs people share

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13
Q

What are the 2 distinct tensions Quinn identifies that affect culture?

A

Tension between felxibility and having control

Tension between whether business is inward/outward looking

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14
Q

What is an internal process culture?

A

Inward looking

Stable/controlled environment

E.g. public sector organisations

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15
Q

What is a rational goal culture?

A

Outward looking

Goal orientated towards external requirements

structured/controlled environment to deal effectively without outside world

E.g. large established businesses

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16
Q

what is an open systems culture?

A

Outward looking - external environment provides opportunity

Highly flexible

E.g. business working with fast changing tech

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17
Q

What is a human relations culture?

A

Inward looking

Flexible

E.g. support service units

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18
Q

What are the points handy says about management models?

A

Help to explain the past, which in turn…
Help us understand the present and thus…
Predict the future, leading to…
More influence over future events and…
Less disturbance from the unexpected

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19
Q

What are commonly seen rational goal ideas?

A

Systematic work methods

Detailed division of labour

Centralised planning and control

Low involvement employment relations

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20
Q

What is the rational goal model of management?

A

Uses reasons why the business does something to make sure it is done as well as possible

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21
Q

What is the internal process model of management?

A

Looks at how the organisation is doing things not at why

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22
Q

what is rationality?

A

Use of the most efficient means to meet the business’s objectives

23
Q

What is marketing?

A

the set of human activities directed at facilitating and consummating exchanges

24
Q

What are consumer markets?

A

Markets for products and services bought by individuals for their own or family use

25
Q

How are consumer markets categorised?

A

FMCGs - high volume, low unit value, fast repurchase e.g. bread

Consumer durables - low volume, high unit value e.g. laptop

26
Q

What is Kotler’s marketing mix?

A

The set of controllable marketing variables that a firm blends to produce the response it wants in the target market

27
Q

What is market segmentation?

A

The division of the market into homogenous groups of potential customers who may be treated similarly for marketing purposes

28
Q

What are the 4Ps?

A

Price - how the product should be priced, influenced by costs, competitors etc

Product - anything that can be offered to a market for attention, acquisition or consumption.

Place - how to distribute, direct or us intermediaries

Promotion - informs customers about the product, e.g. advertising

29
Q

What are the 2 elements of promotion?

A

Push - ensuring products/services are available

Pull - persuading the ultimate consumers to buy

30
Q

What is operations/production management?

A

Creating as required goods/services supplied to customers.

Concerned with design, implementation and control so inputs are transformed into outputs.

31
Q

what are the 4Vs of operations?

A

Volume
Variety
Variation in demand
Visibility

32
Q

What is product research?

A

Finding new and improved products for the market

33
Q

What is process research?

A

developing new and better ways of producing the goods/services

34
Q

What is procurement?

A

the acquisition of goods/services at the best possible total cost of onwership, right quality/quantity, right time, right place and from the right source

35
Q

What is a supply chain?

A

Network of organisations, their systems, resources and activities that are required to turn raw resources into a product/service

36
Q

What are upstream supply chain members?

A

elements of supply chain whicb provide the materials and production of the goods and services

37
Q

What are downstream supply chain members?

A

elements of the supply chain that are involved after the product has been manufactured or service properly

38
Q

What is human resource management (HRM?

A

Creation, development and maintenance of an effective workforce, matching the requirements of the business

39
Q

What are 2 different approaches to HRM?

A

Hard approach - emphasises resource element of HRM

Soft approach - emphasises the human element of HRM

40
Q

What are the 4Cs of HRM?

A

Commitment
Competence
Congruence - common vision
Cost-effectiveness

41
Q

What is Mullins’ theory of organisation behaviour?

A

Study and understanding of individual and group behaviour in an organisational setting to improve performance and effectiveness

42
Q

What is Hellriegel, Slocum and Woodman’s organisational iceberg?

A

Illustrates how human behaviour is affected by many variables

43
Q

What is considered above the waterline on the organisational iceberg?

A

Formal aspects (Overt):

Customers
Technology
Facilities

44
Q

What is considered below the waterline on the organisational iceberg?

A

Behavioural aspects (covert):

Attitudes
Communication
Personality

45
Q

What is motivation?

A

Degree to which a person wants certain behaviours and chooses to engage in them

46
Q

What is Maslow’s hierarchy of needs?

A

Bottom to top:

Basic/psychological
Safety/security
Social
Status/ego
Self actualisation

47
Q

What characteristics define a group?

A

Common sense of identity
Common aim/purpose
Existence of group norms
Communication within
Presence of a leader

48
Q

What are Tuckman’s 4 stages through which groups proceed?

A

Forming - initial stage, collection of individuals who are seeking to define purpose and operation

Storming - conflict stage, ideals challenged/rejected, once overcome forges a stronger team

Norming - how group operates, make decisions, behaviour patterns etc

Performing - now capable of operating at full potential

49
Q

According to Belbin what are the different roles in a team?

A

Leader - coordinator
Shaper - promotes activity, committed to task
Plant - thoughtful and thought-provoking
Evaluator - analytically criticises others’ ideas
Resource investigator - elaborates n others’ ideas
Company worker - turns general ideas into specifics
Team worker - concerned with inter-team relations
Finisher - makes sure deadlines are met
Specialist - external team member

50
Q

What does Belbin suggest an effective team will have?

A

1 leader/shaper
Equal numbers of plants/evaluators
Equal numbers of company/team workers
1 finisher

51
Q

What influences the effectiveness of any manager?

A

Authority
Autonomy
Leadership

52
Q

What are Likert’s 4 basic leadership styles?

A

Exploitive authoritative
Benevolent authoritative
Consultative
Participative - ideal for profit orientated businesses

53
Q

What are the 4 characteristics Likert identifies for effective managers?

A

Employee centered
Sets high standards but flexible in methods used
Natural delegators with high levels of trust
Encourage participative management

54
Q

What is the Procurement mix?

A

Quantity
Quality
Price
Lead time

BTF (11 decks)

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