Management and leadership Flashcards

1
Q

What are the four functions of management?

A

Planning, Organizing, Leading, Controlling

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2
Q

What does planning involve?

A

Setting visions, goals and objectives

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3
Q

What is the purpose of organizing in management?

A

Allocating resources, assigning tasks, establishing procedures, and preparing an organizational structure.

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4
Q

How does leading differ from the other management functions?

A

Leading involves guiding and motivating employees to achieve organizational goals.

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5
Q

What is the controlling function of management?

A

Measuring results, monitoring performance, rewarding achievements, and taking corrective action.

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6
Q

What is a vision statement?

A

An encompassing explanation of why an organization exists and where it’s trying to go.

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7
Q

What is a mission statement?

A

An outline of the organization’s fundamental purposes, including self-concept, philosophy, customer needs, and social responsibility.

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8
Q

What are the four types of planning?

A

Strategic, Tactical, Operational, and Contingency planning.

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9
Q

What does the SWOT analysis evaluate?

A

An organization’s Strengths, Weaknesses, Opportunities, and Threats.

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10
Q

What are the three management levels?

A

Top management, Middle management, and Supervisory management.

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11
Q

What are the three essential skills for managers?

A

Technical skills, Human relation skills, and Conceptual skills.

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12
Q

Define empowerment in a management context.

A

Giving employees the authority to make decisions independently.

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13
Q

What is knowledge management?

A

Finding, keeping, and sharing important information within a firm.

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14
Q

How is success traditionally measured in organizations?

A

Through financial metrics, while also considering customer and employee satisfaction.

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15
Q

What is the importance of customer satisfaction in controlling?

A

It’s a key criterion for measuring success beyond just financial metrics.

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16
Q

What is strategic planning?

A

determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals

17
Q

What is tactical planning?

A

developing detailed, short-term statements about what is to be done, who is to do it, and how is it to be done

18
Q

What is operational planning?

A

setting work standards and schedules necessary to implement the company’s tactical objectives

19
Q

What is contingency planning?

A

preparing alternative courses of action that may be used if the primary plans don’t achieve the organizations objectives