Chapter 6: Understanding the Management Process

Question 1

4 key functions of Management

Answer 1

planning, organizing, leading and motivating and controlling

Question 2

establishing organizational goals and deciding how to accomplish them

Answer 2

planning

Question 3

a clear and concise outline of an organization’s values and goals that it would like to achieve

Answer 3

vision statement

Question 4

broad based and determines goals and plans of entire organization

Answer 4

strategic planning

Question 5

each functional area determines its own goals and plans

Answer 5

Tactical planning

Question 6

each unit within each functional area determines its goals and plans

Answer 6

operational planning

Question 7

Contingency plans

Answer 7

the “what if” plan

Question 8

a clear and concise articulation of how the company intends to achieve its vision. (beginning of planning process)

Answer 8

mission statement

Question 9

establishing major goals, then allocating resources to achieve them

Answer 9

strategic planning process

Question 10

grouping resources to accomplish end result in efficient way

Answer 10

organizing

Question 11

Leading

Answer 11

guiding others toward the achievement of organizational goals

Question 12

providing reasons for people who work in the best interests of the organization

Answer 12

motivating

Question 13

combination of leading and motivating

Answer 13

directing

Question 14

evaluating and regulating ongoing activities to ensure goals are achieved

Answer 14

controlling

Question 15

tool used during strategic planning process to set goals/objectives

Answer 15

SWOT analysis

Question 16

what gives the company an advantage over competitors. ex: cost advantages, proven management, efficient distribution

Answer 16

Strengths

Question 17

internal limitations a company faces. ex: high turnover, labour grievances, lack of managerial depth

Answer 17

weakness

Question 18

ex: increased demand for new products, potential strategic alliances

Answer 18

opportunities

Question 19

external conditions that could prevent company from reaching objectives. ex: entry to lower-cost competitors, rising sales of substitutes, slowing market growth

Answer 19

threats

Question 20

approaches that may give an advantage

Answer 20

core competencies

Question 21

Classification of Managers

Answer 21

1. according to level within an organization

2. according to their area of management

Question 22

upper-level executive who guides and controls

• responsible for developing organizations mission and business strategy
  ex: CEO, COO, CMO

Answer 22

Top Management

Question 23

• largest group of managers
• implements strategy and major policies
• develop tactical and operational plans
• coordinate and supervise
  ex: division manager, department head

Answer 23

Middle management

Question 24

• coordinates and supervises the activities of employees

- motivating employees, answering questions, solving day-to-day problems

Answer 24

Front-line management

Question 25

Finance manager

Answer 25

responsible for organizations financial resources

Question 26

manages the systems that convert resources into goods/services

Answer 26

operations manager

Question 27

responsible for facilitating exchange of products between organization and customers

Answer 27

marketing manager

Question 28

managing and organizing human resource programs

Answer 28

HR manager

Question 29

not associated with any functional area but provides guidance and leadership

Answer 29

administration manager

Question 30

3 skills managers need

Answer 30

conceptual skills, technical skills, interpersonal skills

Question 31

• seeing how it all fits together

- allows manager to see “big picture”

Answer 31

Conceptual skills

Question 32

skills to perform a specific job

Answer 32

Technical skills

Question 33

• communicating and working well with others

- ability to deal with and relate to people, understand their needs and show compassion

Answer 33

Interpersonal skills

Question 34

relationship between leader and followers who want real change, resulting in outcomes that reflect their shared purposes

Answer 34

leadership

Question 35

leader makes decisions and employees are expected to do the decisions exactly as directed

Answer 35

autocratic leadership

Question 36

where leader consults employees before making decisions

Answer 36

Participative leadership

Question 37

where the leader provides a basic vision and the necessary resources for the team, and then act as an adviser

Answer 37

laissez-faire leadership

Question 38

Making quality decisions

Answer 38

1. correctly identify the problem
2. use creativity
3. use structured analysis to evaluate alternatives