Chapter 6 - Intro To General Management Flashcards
Name some of the most common causes of business failure.
- bad management
- lack of managerial experience
- lack of industry experience
- lack of clear objectives
- poor buss planning
- poor cash flow mng
- over expansion
- poor marketing
- poor buss location
- economic conditions
- failure to adapt
- inadequate pricing
- poor HR relations
Name 4 reasons why management is indispensable to any business.
1) directs a business towards its goals
2) sets and keeps the ops on a balanced course
3) keeps organisation in equilibrium with environment
4) to reach the goals of highest possible level of productivity
What is one of the most common causes of failure, especially is small business?
Poor Management
What is the definition of management?
process of activities to enable a business to accomplish its goals by employing human, financial and physical resources for that purpose.
Management does 4 things what are they?
What - Planning
How - Organising
Orders- Leading
Checks - Control
Supervisors form part of which level of management?
Lower management
Who forms the Top Management and what is their function?
Directors, they run the business and the final authority and responsibility rests with them.
Who forms Middle Management and what is their function?
Managers, they are primarily responsible and accountable for executing the policies, plans and strategies determined by Top Mng. eg Marketing Manager
Skills management need?
1) Conceptual skills (mental capacity - thinking and planning abilities)
2) Interpersonal skills (ability to work with people)
3) Tech skills (knowledge of a particular discipline)
Managers have 3 different, overlapping roles. What are they?
1) Interpersonal role
2) Information role
3) Decision making role
What 3 activities fall under the Interpersonal Role of a manager?
1) Representative figure (attends charity events)
2) Leader (appointment, training)
3) Relationships (with organisation and public)
Who act as spokespersons for departments ?
Managers
What did EW Taylor prove with his scientific application of observation?
That the productivity of a business could indeed be increased.
What was Henri Fayol’s management process school theory about?
The application of universal management principles would take any business towards its goals.
Henri Fayol identified 6 functions in his management process school theory. What were they?
1) Tech (operations)
2) Commercial (purchasing and marketing)
3) Financial
4) Accountancy
5) Security
6) Gen Management
Fayol identified 5 fundamental elements of the management process. Name them.
Planning Organising Leading Coordinating Control
Elton Moyo’s “Human Relation” or “Behaviour School” found that productivity does not always increase due to a well-designed task and sufficiently high wages. What other factors should be considered?
Psychological and social factors are no less important than physical factors.
Research into which areas over the way for the Human Relations / Behavioural School?
Social interaction Motivation Power relations Organisational design Communications
all which is valuable in the area of personnel management.
How did the “quantitative school” see management?
As a system of mathematical models and processes.
What did the “quantitative school’s” research comprise of?
Operational research or decision experts who believed that of management are at all a logical process, it could be expressed on mathematical relations
The systems approach to management was developed in the 1950’s. What was the purpose of this approach?
To compensate for the main limitations of the previous approaches.
Name the 5 main schools of thought on management.
1) the scientific school
2) the management process school
3) the human relations / behavioural school
4) the quantitative school
5) the systems approach
Name 5 of the contemporary approaches to management.
1) the contingency approach
2) strategic management
3) total quality management
4) the learning organisation and the re-engineering of businesses
5) diversity management
What is the contingency approach in management about?
Application depends on a particular situation confronting management on a particular situation.
This approach similar to systems approach combining various approaches.
What is the strategic management approach about?
Focussing on threats and opportunities in the environment
And evaluating their its strength and weaknesses
In order to overcome the threats
And exploit the opportunities
The organisation builds a distinct competence in a particular market
Why was the strategic management approach abandoned in the 1980’s?
Because today every manager in the organisation is required to think and act strategically.
What is the Total Quality Management approach about?
It evolved in the late 1980’s and revolved around quality.
What is the Re-engineering of business approach about?
It forces the organisation to focus on its core business and to outsource the other activities.
