Chapter 6 Flashcards
Management
the process of guiding the development, maintenance, and allocation of resources to attain organizational goals
Managerial Process
planning, organizing, leading, & controlling
Efficiency
using the least amount of resources to get work done
Effectiveness
the ability to produce the desired result
Planning
deciding what needs to be done to achieve organizational objectives, identify when & how it will be done, & determining who should do it
Strategic Planning
involves creating long-range (1-5 yrs), broad goals for the organization & determining what resources will be needed to accomplish those goals
Mission Statement
a document that states the purpose of the organization and its reason for existing; purpose, value, action
Tactical Planning
a shorter (less than 1yr) time frame than strategic planning & more specific objectives designed to support the broader strategic goals
Operational Planning
current, narrow, and resource focused
Contingency Plans
identify alternative courses of action for very unusual or crisis situations
Organizing
the process of coordinating and allocating a firm’s resources in order to carry out its plans
Managerial Hierarchy
Top Management - Middle Management - Supervisory Management
Leadership
the process of guiding & motivating others toward the achievement of organizational goals
Autocratic Leaders
directive leaders, allowing for little input from subordinates
Participative Leaders
leaders who share decision-making with group members and encourage discussion of issues & alternatives
Democratic Leaders
solicit input from all members of the group, & then allow the group members to make the final decision through voting
Consensual Leaders
encourage discussion about issues and then require that all parties involved agree to the final decision
Consultative Leaders
confer with subordinates before making a decision but retain the final decision-making authority
Free-Rein Leadership
leaders turn over all authority and control to subordinates
Situational Leadership
selecting a leadership style that matches the maturity & competency of those completing the task
Empowerment
giving employees increased autonomy & discretion to make their own decisions, as well as control over the resources needed to implement those decisions
Corporate Culture
the set of values, attitudes, & standards of behavior that distinguishes one organization from another
Controlling
the process of assessing the organization’s progress towards accomplishing its goals
Informational Role
manager may ac as an information gatherer, an information distributor, or a spokesperson for the company
Interpersonal Role
based on many interactions with other people a manager may need to act as a figurehead, a company leader, or a liaison
Decisional Role
a manager may need to think like an entrepreneur, make decisions about resource allocation, help resolve conflicts, or negotiate compromises
Programmed Decisions
made in response to routine situations that occur frequently in a variety of settings throughout an organization
Non-Programmed Decisions
required by infrequent, unforeseen, or very unusual problems or opportunities
Technical Skills
specialized areas of knowledge & expertise & the ability to apply that knowledge
Human Relations Skills
the interpersonal skills that managers use to accomplish goals through the use of human resources
Conceptual Skills
the ability to view the organization as a whole, understand how the various parts are interdependent, & assess how the organization relates to its external environment
Dashboard Software
gives managers a quick look into the relevant information they need to manage their companies
3 P’s
process efficiency, project management, & strategic pricing
