Chapter 9 Flashcards
Management
The process of guiding the development, maintenance, and allocation of resources to attain organizational goals
Efficiency
Using the least amount of resources to accomplish the organization’s goals (doing things right)
Effectiveness
The ability to produce the desired results or goods (doing the right thing)
Leadership
The relationship between a leader and the followers who want real changes, resulting in outcomes that reflect their shared purposes (leading people)
Planning
The process of deciding what needs to be done to achieve organizational objectives, identifying when and how it will be done, and determining by whom it should be done
Strategic planning
The process of creating long-range (one to five years) broad goals for the organization and determining what resources will be needed to accomplish those goals
Mission
An organization’s purpose and reason for existing; its long-term goals
Mission statement
A clear, concise articulation of how the company intends to achieve its vision - how it is different from its competition and the keys to its success
Tactical planning
The process of beginning to implement a strategic plan by addressing issues of coordination and allocation of resources to different parts of the organization; has a shorter time frame (less than one year) and more specific objectives than strategic planning
Operational planning
The process of creating specific standards, methods, policies, and procedures that are used in specific functional areas of the organization; helps guide and control the implementation of tactical plans
Contingency plans
Plans that identify alternative courses of action for very unusual or crisis situations; typically stipulate the chain of command, standard operating procedures, and communication channels the organization will use during an emergency
Organizing
The process of coordination and allocating a company’s resources to carry out its plans
Top management
The highest level of managers, including CEOs, presidents, and vice-presidents; they develop strategic plans and address long-range issues
Middle management
Managers who design and carry out tactical plans in specific areas of the company
Supervisory management (operational management)
Managers who design and carry out operational plans for the ongoing daily activities of the company
Leading
The process of guiding and motivating others toward the achievement of organizational goals