Lesson 6 - Functions Of Management

Question 1

Why are organizations an open system?

Answer 1

1. composed of interrelated parts that function together to achieve a common purpose
2. interact with outside environment
3. transform resource input into goods and service
4. environmental feedback to see if customers needs are met

Question 2

What are organizational performance?

Answer 2

value is created when the original cost of product increases

Question 3

What happens when value is created?

Answer 3

1. more profit
2. nonprofit organizations add wealth to society

Question 4

What changes provide a context for studying management?

Answer 4

1. Belief in human capital
2. Do not use command and 3. control techniques
3. Emphasis on teamwork
4. Preeminence of tech
5. Embrace of networking
6. New workforce expectations
7. Concern for work-life balance
8. Focus on speed

Question 5

What does HR and managers try not to allow?

Answer 5

• Toxic workplace treat employees as costs
• High performing organizations treat people as valuable strategic assets → meaning only hiring someone because of their parents work at the company
• Managers ensure people are treated as strategic assets → they deserve the job

Question 6

What are the levels of management?

Answer 6

1. Top managers - responsible for performance of an organization as a whole (CEO)
2. Middle managers - in charge of large departments (division mgr, plant mgr)
3. Project managers - coordinate complex projects with deadline (HR, sales, marketing)
4. Team leaders/supervisors - in charge of small work group of non-managerial workers

Question 7

What do high performing managers do?

Answer 7

1. build working relationships
2. help others develop skills and support them
3. foster teamwork
4. create a work environment that is performance-driven and gives satisfaction to workers

Question 8

What is the difference between leadership and management?

Answer 8

• leadership = process of directing + influencing people to make effort to goal and energizes people to overcome problems to reach goal
• management = act of getting people together to accomplish goals using available resources efficiently and effectively _ execute the plan and monitor results

Question 9

What are the characteristics of a managerial work?

Answer 9

• work long hours
• work at intense pace
• work at fragmented and varied tasks
• work with many communication media
• work largely through interpersonal relationships