IBP1 Flashcards
Using resources wisely andin a cost-effective way
EFFICIENTLY
- A group of people working together in a structured and coordinated fashion to achieve a set of goals.
- It is a social entity that is goal directed.
Organization
Basic management functions.
Planning & Decision Making, Organizing, Leading, Controlling
Organization’s resources
Human, Financial, Physical, and Informational
Making the right decisions and successfully implementing them
EFFECTIVELY
- Someone whose primary responsibility is to carry out the management process.
- Someone who plans and makes decisions organizes, leads, and controls human, financial, physical, and information resources.
Manager
The relatively small group of executives who manage the organization’s overall goals, strategy, and operating policies.
Top Managers
Largest group of managers in organizations
-Implement top management’s policies and plans.
- Supervise and coordinate lower-level managers’ activities.
Middle Managers
Managers who supervise and coordinate the activities of operating employees.
First-Line Managers
Work in areas related to getting consumers and clients to buy the organization’s products or services.
Marketing Managers
Deal primarily with an organization’s financial resources.
Financial Managers
Concerned with creating and managing the systems that create organization’s products and services.
Operations Managers
Planning, recruiting and selection, training and development, designing compensation and benefit systems, formulating performance appraisal systems.
Human Resource Managers
Serve as generalists in functional areas and are not associated with any particular management specialty.
Administrative Managers
Assigned as specialists in positions directly related to the needs of the organization.
Other Kinds of Managers
Setting an organization’s goals and selecting a course of action from a set of alternatives to achieve them.
Planning and Decision Making
Determining how activities and resources are grouped.
Organizing
Getting organizational members to work together to advance the interests of the organization.
Leading
Monitoring organizational progress towards goals.
Controlling
Skills necessary to accomplish or understand the specific kind of work being done in an organization.
Technical
The ability to communicate with, understand, and motivate both individuals and groups.
Interpersonal
The manager’s ability to visualize the most appropriate response to a situation.
Diagnostic
The manager’s ability to think in the abstract.
Conceptual
The manager’s abilities both to convey ideas and information effectively to others and to receive ideas and information effectively from others.
Communication
The manager’s ability to recognize and define problems and opportunities correctly and then to select an appropriate course of action to solve the problems and capitalize on opportunities.
Decision-Making
The manager’s ability to prioritize work, to work efficiently, and to delegate appropriately.
Time-Management
- Assumes that problems can be approached using rational, logical, objective, and systematic ways.
- Requires technical, diagnostic, and decision-making skills and techniques to solve problems.
The Science of Management
- Decisions are made and problems solved using a blend of intuition, experience, instinct, and personal insights.
- Requires conceptual, communication, interpersonal, and time-management skills to accomplish the tasks associated with managerial activities.
The Art of Management
