Chapter 7 Flashcards
What is Managment
The process of achieving organizational objectives through people and other resources. Combine human and technical resources in the best way possible.
How do the jobs of top, middle, and supervisory managers differ?
Top: CEO, CFO, VP; devote time to develop long-range plans for organizations, and inspire all employees to achieve companies vision.
Middle: General managers, plant managers, and unit managers; focus on specific operations, product, and or customers. Right policy and procedures.
Supervisory: Supervisor, General Manager, team lead; works directly with non manager employees and help motivate them to accomplish goals set by middle manager.
Relationship between managers planning and controlling functions?
Planning; process of anticipating future advents and how to work on organizational goals
Controlling: function of evaluating organization performance agents objectives.
Vision
Served has a target for a company’s actions, helping direct the company towards completing goals and differentiating it from competitors
Importance of top executives to set high ethical standards
It helps set pace for compony and motivates employees which results in stable workforce, job, satisfaction, and customer loyalty.
Planning process
Some plans are broad and long range and focusing on key organizational objectives. Others are more detailed and specific how particular objectives will be achieved
Tactile Planning:
Determine which short term activities should be implemented to accomplish componéis over all strategies. (Big goals to small goals)
Difference between top management and middle management
Top is strategic long range plans
Middle: tactile short term plans
Mission Statement
Written explanation of companies purpose, reason it exists, who it will serve, and how it differs. It guides the actions of employees
SWOAT
A analysis tool to compare; Strengths of compony, Weakness of compony, opportunities, Threats compared to its competitors.
How to managers use objective?
Objective set guidepost by which managers desired performance in areas like; new-product, sales, customer service, and employee satisfaction
Programmed Decisions
No programmed decisions
Program; simple, common, and frequently occur problems in which procedures are streamlined
Non programmed; complex and unique problems and require more individual evaluation
Decision making process
Recognize problem, development of alternatives, evaluation of alternatives, select and implement, follow up
Leadership
Ability to direct or inspire people to attain certain goals.
Type of leadership styles
Autocratic: centered on boss and doesn’t communicate decisions with employees
Democratic: centered on people contributions, includes others in decision making process. Empowers employees
Free-rein: management leaves decision making to employees
