chapter 7 Flashcards
four functions of management
1.planning
2.organizing
3.leading
4.controlling
what is planning
1.setting goals
2.develop strategies
3.determine resources
4.setting standards
what is organizing
1.allocating resources
2. Prepare an organizational chart
3. recruiting
what is leading
- guiding and motivating
- give assignments
- provide feedback
what is controlling
1.measuring results
2.monitor performance
3.reward outstanding performance
role of managers
collaborative
guide and motivate
skilled comunicator
globally prepared
define management
process used to accomplish organizational goals through planning, organizing, leading, and control
example of a true leader
Bob Chapman, CEO of Barry Wehmiller
important
define empowerment
giving frontline workers the authority and training to make a decision without consulting the manager and the responsibility to respond quickly to customers
important
example of empowerment
Ritz Carlton’s COO
the control process
- Establish clear standards
- monitor and record performance
- Compare results against standards
- communicate results
- if needed, take corrective actions
what is a vision statement
- what do we want to become?
- short, one statement
- explanation of why the organization exists
importance of vision statement
- alignment
- motivation
- Decision-making
- differentiation
what is a mission statement?
outlines the fundamental purpose of an organization
9 components of a mission statement
1.customer
2.market
3.product/service
4.technology
5. Concern for survival, growth, and profitability
6. Concern for public image
7. self concept
8. philosophy
9. concern for employee
vision vs mission
vision focuses on future, mission focuses on present
goals vs objectives
goals are long term, objectives are short term
important
swot analysis
strength
weakness
opportunity
threats
forms of planning
1.strategic
2.tactical
3.operational
4.contingency
what is strategic planning
defining an organization’s long-term objectives and determining the best course of action (senior management)
example: apple
what is tactical planning
breaking down a long-term strategic plan into smaller, short-term plans (middle management)
example: nike
what is operational planning?
focus on day-to-day activities to achieve tactical objectives
example: walmart
what is contingency planning?
anticipating and preparing for unexpected events
example: amazon
define decision making
choosing among two or more alternatives
types of management skills
- technical
- human
- conceptual
what are technical skills
ability to apply specialized knowledge
what are human skills
ability to work with and understand others
what are conceptual skills
ability to analyze complex situations
important
manager vs leader
- A manager has subordinates, leader has followers
- manager holds authority, leader is motivational
- manager tells you what, leader shows you how
leadership styles
1.autocratic
2.democratic
3.laissez faire
4.transformational
5.transactional
6.situational
what is autocratic leadership
make decisions independently, with little or no input from employees
advantages of autocratic leadership
- quick decision-making process
disadvantages of autocratic leadership
- Employees are less motivated
- ignore creative ideas from employees
what is democratic leadership?
employees are involved in the decision making process
advantages of democratic leadership
- improved employee morale
- high productivity
- more ideas
disadvantages of democratic leadership
- poor decision making by unskilled workers
what is laissez faire
Leaders offer little or no guidance to group members and leave the decision-making up to them.
advantages of laissez faire
- encourages personal growth
2.encourages innovation/creativity
disadvantages of laissez faire
- Lack of role clarity
- Poor involvement with the group
what is transactional leadership?
focuses on the follower completing required tasks in exchange for monetary compensation
what is transformational leadership?
identified as the single most effective style, the leader focuses on each person individually and is passionate about making each person fulfill their potential
advantage of transactional leadership
- clearly defined roles.People know what they are required to do and what they will be receiving in exchange
disadvantages of transactional leadership
stops creativity and out-of-the-box thinking.
what is situational leadership
when a leader uses different behavioral styles depending on the situation.
