Functional Management Skills Flashcards
____ are essential for guiding teams, optimizing resources, and ensuring that departmental objectives align with the organization’s overall goals, enhancing operational efficiency.
functional management skills
4 key components of functional management skill
- leadership
- communication
- decision-making
- problem-solving skills
______ of functional management skills include leadership, communication, decision-making, and problem-solving abilities, which are critical for fostering effective collaboration and achieving targeted outcomes.
key components
2 importance of planning in management
- strategic planning
- operational planning
_____ involves setting long-term goals and determining the actions necessary to achieve them, helping organizations to allocate resources effectively while responding to changing market conditions.
strategic planning
_____ translates strategic objectives into actionable steps, focusing on the short-term activities and resource allocating needed to achieve the day-to-day operational goals of the organization.
operational planning
7 stages of the planning process
- setting objectives
- situation analysis
- developing premises
- identifying alternatives
- selecting an alternative
- implementing the plan
7.evaluating results
____ Clear and concise goals provide direction and serve as benchmarks for measuring progress, ensuring that all stakeholders understand the intended outcomes.
defining goals - setting objectives
SMART criteria
specific
measurable
achievable
relevant
time-bound
3 types of situation analysis
- SWOT analysis
- market research
- resource assessment
- offers a wide range of construction services
- skilled labor force and experienced management team
- established relationships with suppliers
- known for delivering projects on time and within budget
strengths
- adopting new technologies
- expanding into new geographic areas or market segments
- securing public sector contracts
- forming alliances with architects and real estate developers
opportunities
- significant expenses
- navigating complex building codes and safety regulations
- relies heavily on local economic conditions
weaknesses
- faces intense competition
- fluctuation in the prices of key materials
- difficulty in finding skilled labor
- changes in environment, safety, or labor regulations
threats
_____ this strategic tool identifies the Strengths, Weaknesses, Opportunities, and Threats related to an organization, providing a comprehensive view of its current position in the market.
SWOT analysis
_____ gathering date on consumer needs, preferences, and market trends allows organization to make informed decisions and align their strategies to meet market demands effectively.
market research
____ evaluating available resources, including human, financial, and physical resources, is critical for understanding organizational capabilities and identifying gaps in resources needed for successful planning.
resource assessment
____ identifying underlying assumptions helps planners recognize potential biases and factors that could influence the planning process, ensuring more robust decisions.
assumptions - developing premises
_____ evaluating potential risks and uncertainties enables organizations to prepare for challenges, minimizing the impact of unforeseen events on the planning and execution phases.
risk analysis
4 ways in identifying alternatives
- brainstorming
- feasibility study
- cost-benefit analysis
- prioritization
_____ a collaborative method for generating diverse ideas and solutions that encourage creativity and innovation, enabling teams to explore various approaches for achieving objectives.
brainstorming
____ this assessment evaluates the practicality and viability of proposed alternatives, taking into account resources, constraints, and potential outcomes to determine the best option.
feasibility study
____ this financial assessment compares the costs and benefits associated with each alternative, helping decision-makers understand which option provides the greatest return on investment.
cost-benefit analysis
____ establishing a hierarchy among alternatives based on criteria such as feasibility, impact, and alignment with goals helps streamline the decision-making process and focus resources effectively.
prioritization
2 ways in selecting an alternative
- decision-making models
- stakeholder input
____ various frameworks and models guide the selection process, incorporating quantitative and qualitative factors to arrive at the most informed choice align with organizational strategy.
decision-making models
____ engaging stakeholders in the decision-making process promotes buy-in, ensures that diverse perspectives are considered, and ultimately enhances the likelihood of successful implementation.
stakeholder input
3 parts of implementing the plan
- resource allocation
- task delegation
- monitoring progress
____ effectively distributing resources, including budget, personnel, and tools, is essential to ensure that all necessary elements are in place to execute the plan successfully.
resource allocation
____ assigning specific roles and responsibilities to team members clarifies expectations and improves accountability, facilitating smoother project execution and enhancing team synergy.
task delegation
_____ regular tracking of progress against set objectives and timelines helps identify issues early, enabling timely adjustments and ensuring the project remans on course.
monitoring progress
2 parts of evaluating results
- performance metrics
- feedback mechanisms
____ establishing clear metrics to assess performance provides quantitative data for evaluating success, helping organizations understand the effectiveness of their planning and execution.
performance metrics
_____ creating systems for gathering feedback from stakeholders and team members facilitates continuous improvement, allowing for insights that can enhance future planning processes.
feedback mechanisms
2 internal challenges in the planning process
- resource constraints
- resistance to change
____ often hinder the planning process, limiting access to necessary funds, personnel, or materials, which can delay or derail project objectives.
resource constraints
____ can manifest in reluctance from team members or leadership, causing friction that slows down implementation of new strategies or processes.
resistance to change
3 external challenges
- market volatility
- regulatory changes
- technological advancements
____ presents a significant challenge, impacting consumer demand and making it difficult to forecast future trends, thus complicating long-term planning efforts.
market volatility
_____ Frequent regulatory changes require organizations to stay flexible and adjust their plans, leading to increased complexity and potentially causing operational disruptions.
regulatory changes
___ Rapid technological advancements can make existing plans obsolete, necessitating continuous updates and adaptations to ensure relevance and competitiveness in the market.
technological advancements
3 parts of overcoming challenges
- agile planning
- continuous improvement
- effective communication
____ enables teams to adopt quickly to changing circumstances, promoting iterative development and allowing for real-time feedback to enhance project outcomes.
agile planning
____ implementing a culture of continuous improvement encourages ongoing evaluation and refinement of processes, helping organizations to be more resilient to both internal and external challenges.
continuous improvement
____ fosters transparency and collaboration among team members, ensuring that all stakeholders are aligned, reducing misunderstandings and improving execution.
effective communication
____ is essential for achieving desired outcomes, as it sets clear objectives and strategies, aligning resources and efforts to navigate complexities effectively.
planning
2 part of future outlook
- evolving trends
- continuous skill development
____ As industries transform, staying aware of emerging trends allows organizations to adapt swiftly, ensuring resilience and competitiveness in a dynamic environment.
evolving trends
____ Investing in continual skill development fosters innovation and adaptability within teams, ensuring they remain equipped to tacked future challenges and leverage new opportunities.
continuous skill development
