Cp5 Flashcards
On time “Do things in a right”manner working hard and can produce the result
Efficient
Are responsible for business performance and effectiveness
Managers
“Doing the right things”completing task and achieving goals but cannot produce the result
Effectiveness
Mowing a the lawn in 30 minutes us to take 45
Efficient
Mowed the RIGHT lawn
Effective
Are accountable to all key stakeholders
Managers
Focuses on the BIG picture and is long term
Changes/effects whole organization
Strategic Plans
Medium term taking image and changing each department
Effects ONE area of company
Tactical Plan
Develops Strategic and Tactical plans
Analyses their competitive environments
Managers
SWOT stands for what?
Strengths Weakness Opportunities Threats
What is the inside environments involving a business?
Strengths
Weaknesses
What are the outside environments involving a business?
Opportunities
Threats
What does PLOC stand for?
Planning
Leading
Organizing
Controlling
What are the four functions in management?
Planning
Leading
Organizing
Controlling
Setting goals
Planning
Guiding and motivating employees
Leading
Structuring (putting people in categories)
Organizing
Ensuring that company is meeting its goals
Controlling
The process of planning organizing leading and controlling financial physical human resources to achieve goals
Management
What is SMART planning?
Specific Measurable Action-oriented Relevant Time-sensitive
Asking What way are you losing the weight? is example of being what in SMART planning?
Specific
Asking how much weight you plan on losing is example of
Measurable
Asking how are you gonna loose the weight? Is example of
Action-oriented
Asking Why do you wanna loose the weight? Is example of
Relevant
Asking why time you want to loose the weight is example of
Time-sensitive
Setting smart goals
Planning
Planning involves
Goal setting
Determining what the organization needs to do and how best to get it done
Determining how best to arrange resources and activities in a coherent structure
Organizing
When managers manage the PEOPLE
Organizing
How do leaders motivate?
Coaching, giving rewards
What do managers want from their employees?
They want productivity(able to bring forth goods and services) from their employees
Monitoring a firms performance to make sure that it is meeting it’s goals
Measuring your performance
Control
When a teacher tells you your either failing or passing the course
Control
Measuring performance against a quantifiable (certain amount) standard
Control
Responsible for the overall performance of the firm
Top Managers
Presidents, Vice Presidents and CEO’s are examples of
Top Managers
Does strategic plans
Top Mangers
(Puts decisions or plans in effect) implements strategies and work toward the goals set by Top Managers
Middle Managers
Supervises the work of employees
First Line Managers
Hires and train employees, evaluate performance, and determine comprehensive.
Human Resources Managers
Responsible for getting products from producers to consumers
Deals with Development, pricing, promotions, distribution of goods and services
Marketing Managers
Deals with the taxes revenues and bills
Financial Managers
Decides on How things get done/made
Operations Manager
Makes hardware(computer) and software (programs)
Information Mangers
Design, Merchandise public relations are all
Other mangers
Most important skill if your a first line manager
Technical Skills
Coming up with strategies that you never had to come up with before
Having the ability to think in the abstract or analyze different situations and see beyond present situation
Conceptual Skills
Productive use of managers time
Time Management Skills
Leading causes of wasted times
Phone call interruptions every 5 min
Email
Meetings
Getting along with others and making them feel excited about their work
Human Relations Skills
Providing direction
Decision making skills
Process of helping and organization maintain and effective alignment with its environment
And
Setting goals
Strategic Management
STARTING POINT in effective strategic management
Objectives that business hopes and plans to achieve
Goals
What a company does good at
Strengths
What a company does poorly at
Weaknesses
What a company can create
Opportunity
Something that hurts a company (competition)
Threat
What you are going to do to achieve the goal
Strategy
Strategy formulation (to create on how to achieve the goal)
Setting strategic goals
Analyzing(to study closely) the organization and environment
Matching organization and environment
Formulate strategy
Long term goals are
Five years or more
Strategic plans
Intermediate goals are
One entire department
Tactical plans
Short term goals
(Only one decision) exp is selecting one model
Operational plans
Performance target that organization uses to measure success
Goals
What the business seeks to be the BEST at
How a business will achieve its fundamental purpose
Mission Statement
Means internal personality
Corporate Culture
Business are either laid back or competitive these are?
Internal personality
Shared experiences stories beliefs and norms that exist in a organization
Corporate Culture
Mangers must understand
The culture
Changing everything about a company from being laid back to strict
Communicating the culture
The change of Corporation
Managers support the culture of a company by
Rewarding and promoting who understand it and work toward maintaining it
Managers must transmit
The culture to others in the organization
Planning is the management process of
Determining what a organization needs to do and how best to get it done
