FBP C7 - Management and Leadership Flashcards
What does management look like today?
Typically, managers are known to tell people what to do, watching over the, reprimanding them yet today managers are more progressive. Today they emphasize team building and open communication work areas. They tend to support, guide, train them instead of telling them what to do.
What reasons can you give to account for changes in management?
Leaders today are younger, more females and fewer educated at elite universities. They know that many of their employees known more about technology therefore they put more emphasis on teamwork and motivation.
Management
process used to accomplish organizational goals through planning, organizing, leading and controlling people and other organizational resources
What are the functions of management?
- Planning
- Organizing
- Leading
- Controlling
Planning
anticipating trend, determining the best strategies / tactics to achieve goals and objectives
Organizing
designing the structure of the organization, creating systems where everyone and everything works together to achieve goals and objectives
Leading
creating a vision for the organization and communicating, guiding, training, coaching other to achieve goals and objectives
Controlling
measuring whether what actually occurs meets the organizations goals.
Vision
An encompassing explanation of why the organization exists and where it is trying to go
Goals
are broad, long term achievements that organizations aim to accomplish
Objectives
are specific, short term plans made to help reach the goals
What is a SWOT Analysis?
- Strengths
- Weaknesses
- Opportunities
- Threats
Strategic planning
is broad, long range planning that outlines the goals of the organization
Tactical planning
specific, short term planning that lists organizational objectives
Operational planning
is part of tactical planning and sets specific timetables and standards
Contingency planning
is developing an alternative set of plans in case the first set doesn’t work out
The steps involved in decision making:
1) Define the situation
2) Describe and collect needed information
3) Develop alternatives
4) Decide which alternative is best
5) Do what is indicated (being implementation)
6) Determine whether the decision was a good one and follow up
Decision making
Choosing among two or more alternatives.
What are the 3 levels of management in the corporate hierarchy?
- Top management
(Highest level consisting of the president and other key company executives who develop strategic plans - Middle management
General managers, division managers, and plant managers whoa re responsible for tactical planning and controlling - Supervisory Management
First line managers / supervisors who evaluate workers daily performance
- Top management
(Highest level consisting of the president and other key company executives who develop strategic plans
- Middle management
General managers, division managers, and plant managers whoa re responsible for tactical planning and controlling
- Supervisory Management
First line managers / supervisors who evaluate workers daily performance
What skills do managers need?
Managers must have three categories of skills:
- Technical skills - (ability to perform specific tasks such as selling products or developing software)
- Human relations skills – ability to communicate and motivate
- Conceptual skills – ability to see organizations as a whole and how all the parts fit together
Technical skills
(ability to perform specific tasks such as selling products or developing software)
Human relations skills
ability to communicate and motivate
Conceptual skills
ability to see organizations as a whole and how all the parts fit together
Are these skills equally important at all management levels?
Managers at different levels need different skills. Top managers reley on human relations and conceptual skills and rarely use technical skills. First line supervisors need strong technical and human relation skills but use conceptual skills less often. Middle managers need to have a balance of all three skills
Staffing
is recruiting, hiring, motivating and retaining the best people available to accomplish the companies’ objectives
Manager
they plan, organize, and control functions within a organization.
Leader
has a vision and inspires others to grasp that vision, establishes cooperate values, emphasizes cooperate ethics and doesn’t fear change.
Explain the differences between leaders and managers and describe the various leadership styles:
Autocratic
Participative / democratic
Free rein
Autocratic
Leadership tyle that involves making managerial decisions without consulting others
Participative / democratic
leadership style in which members of the group take more participative role in decision making
Free rein
leadership style that involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives
Which leadership style is the best?
The most effective leadership style depends on the people being led and the situation. The challenge of the future will be to empower self-managed teams.
Empowerment
giving employees the authority and responsibility to respond quickly to customer requests,
Enabling
giving workers the education and tools they need to assume their new decision-making powers
Knowledge management
finding the right information, keeping the information in a readily accessible place, and making the information known to everyone in the firm.
What are the 5 steps of the control function?
1) Setting clear standards
2) Monitoring and recording performance
3) Comparing performance with plans and standards
4) Communicating results and deviations to employees
5) Providing positive feedback for a job well done and taking corrective action if necessary
What qualities must standards possess to measure performance results?
- Specific
- Attainable
- Measurable
Brainstorming
Coming up with as many solutions to a problem as possible in a short period of time with no censoring of ideas.
Conceptual skills
- Skills that involve the ability to picture the organization as a whole and the relationships among its various parts.
Contingency planning
The process of preparing alternative courses of action that may be used if the primary plans don’t achieve the organization’s objectives.
Controlling
A management function that involves establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not.
Decision making
Choosing among two or more alternatives.
External customers
Dealers, who buy products to sell to others, and ultimate customers (or end users), who buy products for their own personal use.
Internal customers
Individuals and units within the firm that receive services from other individuals or units.
Mission statement
An outline of the fundamental purposes of an organization.
Vision
An encompassing explanation of why the organization exists and where it is trying to go
Transparency
The presentation of a company’s facts and figures in a way that is clear and apparent to all stakeholders.
The process used to acomplish organizational goals through planning, organizationg, leading and controlling organizational resources is ____
management
the part of the management function of organizing that ncludes hiring, motivating and retaining the best people is
Staffing
The differance between leaders and mnagers is that ___ establish a vision and coperate values, while __ carry out the vision
leaders
managers
The ___ function measures preformance relative to the planned objectives and standards, rewards people for the work well done and takes corrective acton
contol
The tasks of knowledge mangers include
- making information known to employees in the organization
- Keeping information in a readily accessable place
- Finding the right information
giving workers explicit instructions to meet the goals and objectives of the organization is ___
directing
