Chapter 7- Understanding the Management Process

Question 1

What are the 4 key functions of management IN ORDER

Answer 1

Planning
Organizing
Leading and Motivaitng
Controlling

Question 2

What is Planning in Management

Answer 2

establishing organizaitonal goals and what it takes to accomplish them

Question 3

What is Organizing
in Management

Answer 3

grouping resources anda ctivities and understanding what it takes to accomplish some result effectively

(accounting peeps bookeepers etc)

Question 4

What is Leading and Motivating in Management

Answer 4

Influencing people to work towards a common goal, motivating others to serve the org

Question 5

What is Controlling in Management

Answer 5

Evaluating ongoing actitivites to make sure goals are achieved

Question 6

4 TYPES OF PLANS, hierarchy + extra

Answer 6

Strategic Plans (Upper Management)
Tactical Plans (Middle Management)
Operational Plans (Day to Day)

Contingency Plans (For all stages)

Question 7

What is planning

Answer 7

-what are the goals
-How do we accomplish them
-What do we need to accomplish them

Question 8

Vison statment

Answer 8

outline of an org values and goals it wants toachieve

Question 9

Mission Statment

Answer 9

how it will achieve these goals!

Question 10

Strategic planning

Answer 10

-longterm 1-5 years
-Plans for the entire org

Question 11

Tactical PLanning

Answer 11

-Each functional group determines own plans
-<1 year

Question 12

Operational Plans

Answer 12

-Each unit w/n functional gorup determines own goals and plans
-day to day!!!!

Question 13

Contingency PLans
Why do we need this

Answer 13

the backup plans for everything
WE NEED THIS BC WEHN THINGS GO WORNG YOU DONT ONAIC

Question 14

Strategic PLanning Process

Answer 14

establishing major goals, then allocating resources to achieve them

Question 15

leading vs motivating

Answer 15

guiding others to achieve org goals

making people WANT to work for an org

Question 16

leading + motvatign name

Answer 16

DIRECTING

Question 17

Controlling

Answer 17

regulating tasks seeingif goals are achieved or nah

more like monitoring

Question 18

what are the steps to the controlling action

Answer 18

1. set standards
2. measure acc performacne
3. corrective actions

Question 19

how can managers be organized

Answer 19

1. their level within an organiation
2. their area of management

Question 20

types of management

Answer 20

top line

middle

front line

Question 21

top line managers

Answer 21

strategic planning, ones who make company strategies

THIS IS THE C SUITE

Question 22

Middle management

Answer 22

tactical managers, ones who implement top line strategies

largest group \\\\(marketing manager etc)

Question 23

Front Line Management/

Answer 23

day to day activity managers (often emplyees who were promted)

Question 24

what are functional groups

Answer 24

groups of employees specialized in a specific group (finance, operations)

Question 25

6 management activities & types of managers

Answer 25

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

Question 26

non traditional management styles

Answer 26

organize employees into project/product teams and these are corss functional teams

no leader traditionally

Question 27

3 skills to a manager

Answer 27

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)

Question 28

3 leadership styles

Answer 28

autocratic / authoritarian

participative / inclusive

laissez faire / free rein

Question 29

Autocratic/authoritarian leadership

Answer 29

Top - down

employees follow exactly the vision of leader;charismatic cult of personality

can stifle creativity

Question 30

Participative Leadership

Answer 30

Consulting employees b4 decisions

can dictate decisions when necessary but get peoples opinions

Question 31

Laissez Faire leadership

Answer 31

hands off approach to leadership, then acts as an advisor

commmon with highly skilled technicians

Question 32

decision making steps

Answer 32

1. identify the problem
2. generate alternatives
3. select an alternative
4. implement and evaluate the solution

Question 33

Problem vs symptopm

Answer 33

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

Question 34

‘“Satisficing:

Answer 34

going with the first alternative not fully solving the problem

Question 35

what are the critical succcess factors for any business

Answer 35

achieving financial performance

meeting customer needs

providing value (strive to improve quality)

foster creativity&innovation

secure employee commitment

Question 36

SWOT analysis

Answer 36

Strength: internal capabilites/ core competencies
Weakenss: internal limtiations
Opportunity: external conditions that can produce rewards
Threat: external conditions that could pose challenges

Question 37

how are swot factors linked

Answer 37

strength=opportunity
fixable weakness= opporutnity
weakness= threats
strengths=strategies to avoid threats

Question 38

WHAT DEPARTMENT IMPACTS THE ENTIRE BUSINESS

Answer 38

FINANCE!!!

Question 39

WHAT IS A LARGE MEDIA SCANDAL IN SWOT

Answer 39

Weakness

Question 40

what is the order of skills you acquire in business

Answer 40

TECHNICAL

CONCEPTUALL

INTERPERSONAL