Management and Its Functions Flashcards
Define Management
The process of working with people and resources to meet the goals of an organization
The Four Functions of Management
- Planning
- Organizing
- Leading
- Controlling
Planning
Determining the goal that should be achieved and determining which actions to take to meet those goals
Organizing
Assembling and coordinating the human, financial, physical, informational, and other resources required to achieve goals
Leading
Stimulating people to be high performers
Controlling
Monitoring the performance of all the resources mentioned in organizing and adjusting those as necessary to ensure that goals are met
Top-Level Managers
Responsible for defining the mission of an organization, setting goals, and deciding on what it takes to attain those goals. i.e. CEO, CIO, COO
Middle-Level Managers
Responsible for doing what it takes to further the goals set by the senior management. These managers lead departments i.e. sales, HR or production
Frontline Managers (Operational Managers)
They work closest with employees who don’t hold management positions. i.e. Supervisors, crew leaders, and store managers
Team Leaders
Employees who are responsible for facilitating successful team performance.
Interpersonal Role
They act as a leader to staff, train, and motivate others to achieve the goals. They act as a liaison to maintain a network of contacts. They act as a figurehead and perform symbolic duties that represent the company.
Informational Role
They act as a monitor and seek information. They disseminate information. They act as a spokesperson.
Decisional Role
They may be an entrepreneur making all the decisions for a business. They may handle disturbances in the business. They may allocate resources. They may negotiate on behalf of the business.
Technical Skills
The ability to perform a specialized task that involves a particular procedure or method.
Conceptual and Decision Skills
The Ability to identify and solve problems to benefit the organization and everyone who works for it.
