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intro to business test 2 > chapter 8 > Flashcards

chapter 8 Flashcards

1
Q

how must managers practice art of getting things done?

A

via organizational resources.

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2
Q

what are resources incorporates?

A

human resources (employees)
– natural resources (raw materials)
– financial resources (money)

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3
Q

what is management?

A

process used to accomplish organizational goals through PDOC

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4
Q

what is PDOC?

A

Planning (defining)
• Directing (leading)
• Organizing (resources)
• Controlling (evaluating people & other organizational resources)

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5
Q

what is planning?

A

A mgmt function that includes anticipating trends & determining best strategies & tactics to achieve organizational GOPST

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6
Q

what is GOPST (planning)?

A

Goals, Objectives, Plans, Strategies & Tactics.

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7
Q

what is directing (PDOC)

A

Creating a vision for the organization & guiding, training, coaching & motivating employees to work effectively to achieve organization’s goal & objectives.

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8
Q

what is organizing (PDOC)?

A

A mgmt function that includes designing the structure of the organization & creating conditions & systems in which everyone & everything works together to achieve the organization’s goals & objectives

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9
Q

what is controlling (PDOC)?

A

Involves establishing clear standards to determine whether an organization is progressing toward its goals & objectives
• Rewarding people for doing a good job
• Taking corrective action if they are not

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10
Q

what is vision in planning?

A

more than a goal; it’s an encompassing explanation of why the organization exists & where it’s trying to head- provides company a sense of purpose

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11
Q

what are values in planning?

A

are a set of fundamental beliefs that guide a business in decisions

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12
Q

what is a mission statement In planning?

A

is an outline of the organization’s fundamental purposes.

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13
Q

what are goals in planning?

A

are broad, long-term accomplishments an organization wishes to attain – usually expressed in terms of measurable objectives.

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14
Q

what are objectives in planning?

A

are specific, short-term statements detailing how to achieve company goals.

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15
Q

what are plans in planning?

A

are ordered sequences of strategies a company uses to achieve each objective – plans always have a time element.

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16
Q

when planning and creating a vision, what is SWOT?

A

strengths, weaknesses, opportunities and threats

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17
Q

what Is strengths in SWOT?

A

how can strengths be used and capitalized on

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18
Q

what are weaknesses in SWOT?

A

how can weaknesses be improved

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19
Q

what are opportunities in SWOT?

A

how can opportunities be exploited

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20
Q

what are threats in SWOT?

A

how can threats be mitigated

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21
Q

what do strengths and weaknesses have in common?

A

things within company control

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22
Q

what do opportunities and threats have in common?

A

things outside company’s control,

things you have to find information about to act on.

23
Q

what are the questions of planning?

A

1) What is the situation now?
2) Where do we want to go?
3) How can we get there from here?

24
Q

what is strategic planning?

A

process of outlining how company will meet its objectives & goals

25
Q

what does strategic planning set foundations for?

A

policies, procedures & strategies for obtaining & using resources to achieve those goals

26
Q

what is tactical planning?

A

process of developing detailed, short-term statements - what is to be done, by whom & how

27
Q

what is operational planning?

A

process of setting work standards & schedules needed to implement company’s objectives.

28
Q

what does operational planning define?

A

specific responsibilities of supervisors, department managers & individual employees

29
Q

what is contingency planning?

A

process of preparing alternative courses of action

30
Q

in contingency planning, if primary plan is not met because if economic and competitive envrironments changing what does contingency planing do?

A

fall on alternative planning

31
Q

what is crisis planning?

A

involves reacting to sudden changes in the environment.

32
Q

why is crisis planning hard for medium sized and smaller companies?

A

due to fewer resources.

33
Q

In decision making, what are some alternatives?

A
  1. Define the situation
  2. Describe & collect needed information
  3. Develop alternatives
  4. Decide which alternative is best
34
Q

what is problem solving?

A

process of solving everyday problems that occur.

35
Q

how does problem solving differ from Dm?

A

less formal and quicker action

36
Q

what are some problem solving techniques?

A

brainstorming and PMI

37
Q

what is brainstorming?

A

enerate many solutions, no censoring of

ideas

38
Q

what is PMI?

A

pluses for a solution in one column

• minuses in another, and the • interesting in a third column.

39
Q

How does the organizing pyramid work?

A

top management (pres, vise), middle management (branch managers) supervisory management, nonsupervisory (employees)

40
Q

what skills do top managers need?

A

technical skills, human relations skills (second most) conceptual skills (the most)

41
Q

what skills do middle managers need?

A

technical skills human relations skills, conceptual skills are equal

42
Q

what skills do first line managers need?

A

technical (the most), human relations (second most), conceptual

43
Q

what do stakeholders include?

A

customers, employees, suppliers, dealers, environmental groups & surrounding communities.

44
Q

are smaller organizations more responsive than larger organizations?

A

yes that is why large firms are being restructured into smaller more customer focused units

45
Q

can a person be a good manager but not a good leader or vise versa?

A

yes

46
Q

leaders are motivated by which values?

A

intrinsic values needs, desires, motive & will power,

47
Q

what are extrinsic values (leading)?

A

rewards and recognition

48
Q

what does being a successful leader mean?

A
  • Vision
  • Communicate
  • Corporate Values & Ethics
  • Don’t Fear Change
49
Q

what is autocratic leadership?

A

Close supervision
– effective style in emergencies & when absolute “followership” is
needed—fighting fires

50
Q

what is participative leadership?

A

Democratic

– Employee participation in decisions may not always increase effectiveness, but it usually increases job satisfaction.

51
Q

what is free rein leadership?

A

issez-faire
– In organizations where managers deal with doctors, engineers, or other
professionals, often this is most successful leadership style

52
Q

what is knowledge management?

A

Finding the right information, keeping information in a readily accessible place & making information known to everyone in firm.

53
Q

what are the first two steps of controlling?

A
  1. Establishing clear performance standards (specific, attainable, measurable).
  2. Monitoring & recording actual performance (customer feedback from internal & external sources)
54
Q

what are the last 3 steps of controlling?

A
  1. Comparing results against plans & standards.
  2. Communicating results & deviations to employees involved.
  3. Taking corrective action when needed & providing positive feedback.

intro to business test 2 (4 decks)

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