Chapter 7- Understanding the Management Process Flashcards
What are the 4 key functions of management IN ORDER
Planning
Organizing
Leading and Motivaitng
Controlling
What is Planning in Management
establishing organizaitonal goals and what it takes to accomplish them
What is Organizing
in Management
grouping resources anda ctivities and understanding what it takes to accomplish some result effectively
(accounting peeps bookeepers etc)
What is Leading and Motivating in Management
Influencing people to work towards a common goal, motivating others to serve the org
What is Controlling in Management
Evaluating ongoing actitivites to make sure goals are achieved
4 TYPES OF PLANS, hierarchy + extra
Strategic Plans (Upper Management)
Tactical Plans (Middle Management)
Operational Plans (Day to Day)
Contingency Plans (For all stages)
What is planning
-what are the goals
-How do we accomplish them
-What do we need to accomplish them
Vison statment
outline of an org values and goals it wants toachieve
Mission Statment
how it will achieve these goals!
Strategic planning
-longterm 1-5 years
-Plans for the entire org
Tactical PLanning
-Each functional group determines own plans
-<1 year
Operational Plans
-Each unit w/n functional gorup determines own goals and plans
-day to day!!!!
Contingency PLans
Why do we need this
the backup plans for everything
WE NEED THIS BC WEHN THINGS GO WORNG YOU DONT ONAIC
Strategic PLanning Process
establishing major goals, then allocating resources to achieve them
leading vs motivating
guiding others to achieve org goals
making people WANT to work for an org
leading + motvatign name
DIRECTING
Controlling
regulating tasks seeingif goals are achieved or nah
more like monitoring
what are the steps to the controlling action
- set standards
- measure acc performacne
- corrective actions
how can managers be organized
- their level within an organiation
- their area of management
types of management
top line
middle
front line
top line managers
strategic planning, ones who make company strategies
THIS IS THE C SUITE
Middle management
tactical managers, ones who implement top line strategies
largest group \\\\(marketing manager etc)
Front Line Management/
day to day activity managers (often emplyees who were promted)
what are functional groups
groups of employees specialized in a specific group (finance, operations)
6 management activities & types of managers
finance: accounting budgeting
operations: production scma
marketing: market research, prod management
HR: hring training
admin: provides guidance
r&d: co-ordinates activites of specialized maangers
non traditional management styles
organize employees into project/product teams and these are corss functional teams
no leader traditionally
3 skills to a manager
conceptual skills (See the big picture fit eveyrhting together)
technical skills (do the tasks by themselves too so they can train others + answer questions)
interpersonal skills (ability to connect w people, communication)
3 leadership styles
autocratic / authoritarian
participative / inclusive
laissez faire / free rein
Autocratic/authoritarian leadership
Top - down
employees follow exactly the vision of leader;charismatic cult of personality
can stifle creativity
Participative Leadership
Consulting employees b4 decisions
can dictate decisions when necessary but get peoples opinions
Laissez Faire leadership
hands off approach to leadership, then acts as an advisor
commmon with highly skilled technicians
decision making steps
- identify the problem
- generate alternatives
- select an alternative
- implement and evaluate the solution
Problem vs symptopm
you have to adress the root of the problems as opposed to the symptoms- declining production is a symptom, maybe the probelm is a broken machine
‘“Satisficing:
going with the first alternative not fully solving the problem
what are the critical succcess factors for any business
achieving financial performance
meeting customer needs
providing value (strive to improve quality)
foster creativity&innovation
secure employee commitment
SWOT analysis
Strength: internal capabilites/ core competencies
Weakenss: internal limtiations
Opportunity: external conditions that can produce rewards
Threat: external conditions that could pose challenges
how are swot factors linked
strength=opportunity
fixable weakness= opporutnity
weakness= threats
strengths=strategies to avoid threats
WHAT DEPARTMENT IMPACTS THE ENTIRE BUSINESS
FINANCE!!!
WHAT IS A LARGE MEDIA SCANDAL IN SWOT
Weakness
what is the order of skills you acquire in business
TECHNICAL
CONCEPTUALL
INTERPERSONAL
