Management and Leadership - Chapter 8 Flashcards
Resources
General term that incorporates Human Resources, natural resources, and financial resources
Management
Process used to accomplish organizational goals through planning, organizing, leading and controlling ppl and other organizational resources.
Planning
Anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives.
Ex. Pleasing customers
Organizing
Designing the structure of the organization and creating conditions and systems in which every1 and everything work together to achieve the organization’s goals and objectives.
Leading
Creating a vision for the organization and communicating, guiding, training, coaching and motivating others to work effectively to achieve the organization’s goals and objectives.
Vision
More than a goal; it’s a broad explanation of why the organization exists and where it is trying to head
Values
Set of fundamental beliefs that guide a business in the decisions it makes.
Mission statement
An outline of the organization’s fundamental purposes
What does a mission statement
- organization’s self concept
- philosophy and goals
- long term survival needs
- customer needs
- social responsibility
- nature of the organization’s product/service
Goals
The broad, long-term accomplishments an organization wishes to attain. Goals need to be mutually agreed on by workers and management. Thus, goal setting is often a team process.
Objectives
Specific, short term statements detailing how to achieve the organizations goals
Strategic planning
Outlines how the company will meet its objectives and goals. Provides the foundation for the policies procedures, and strategies for obtaining and using resources to achieve those goals.
Tactical planning
Process of developing detailed, short term statements act what is to be done, who is to do it, and how it is to be done.
Operational planning
Process of setting work standards and schedules necessary to implement the company’s tactical objectives.
Contingency planning
Process of preparing alt courses of action that may be used if the primary plans don’t achieve the organization’s objectives.
Decision making
Choosing among 2 or more alternatives. It sounds easier on paper than it is in practice. Decision making is the heart of all management functions.
Organization chart
A visual device that shows relationships among ppl and divides the organization’s work; it shows who is accountable for the completion of specific work and who reports to whom.
Middle management
General managers, division managers, and branch and plant managers who are responsible for tactical planning and controlling.
Supervisory management
Those who are directly responsible for supervising workers and evaluating their daily performance; they are often known as first line managers bc they are the first level above workers.
What are the 3 skills a manager must have?
- Technical skills
- Human Relations skills
- Conceptual skills
Technical skills
ability to perform tasks in a specific discipline or department
Human relations skills
communication and motivation
Conceptual skills
Ability to picture the organization as a whole and the relationships among its various parts
Autocratic leadership
Making managerial decisions without consulting others. Such a style is effective in emergencies and when absolute “followership” is needed.
Participative (democratic) leadership
Managers and employees working together to make decisions
Free-rein leadership
Involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives
Transformational leadership
Occurs when visionary leaders can influence others to follow them in working to achieve a desired outcome or goals
Transactional leadership
Associated w employees who are motivated by a system of reward
Empowerment
Giving employees the authority to make a decision without consulting the manager and the response
5 Steps of Controlling
- Establish clear performance standards. This ties the planning function to the control function. Without clear standards, control is impossible.
- Monitor and record actual performance
- Compare results against plans and standards
- Communicate results and deviations to the employees involved
- Take corrective action when needed and provide positive feedback for work well done
External customers
Dealers, who buy products to sell to others, and ultimate customers who buy products for their personal use
