Management Roles, Functions, and Skills

Question 1

Management

Answer 1

The process of planning, organizing, leading, and controlling to meet organizational goals

Question 2

Managerial Roles

Answer 2

Behavioral patterns and activities involved in carrying out the functions of management; includes interpersonal, informational, and decision making roles

Managers need to be both efficient and effective in order to achieve organizational goals

Question 3

Efficiency

Answer 3

Doing things right

Question 4

Effectiveness

Answer 4

Doing the right things

Question 5

Planning

Answer 5

Establishing objectives and goals for an organization and determining the best ways to accomplish them

Question 6

Strategic Plans

Answer 6

Plans that establish the actions and the resource allocation required to accomplish strategic goals

Usually defined for periods of two to five years and developed by top managers

Question 7

mission statement

Answer 7

A brief statement of why an organization exists; in other words, what the organization aims to accomplish for customers, investors, and other stakeholders

Question 8

Vision Statement

Answer 8

A brief and inspirational expression of what a company aspires to be

Question 9

Values Statement

Answer 9

A brief articulation of the principles that guide a company’s decisions and behaviors

Question 10

What does SWOT stand for and what do they all mean?

Answer 10

Strengths: positive internal factors that contribute to a company’s success

Weaknesses: negative internal factors that inhibit the company’s success

Opportunities: positive situations that represent the possibility of generating new revenue

Threats: negative forces that could inhibit a firm’s ability to achieve its objectives

Question 11

Quantitative Forecasts

Answer 11

typically based on historical data or tests and often involve complex statistical computations

Question 12

Qualitative Forecasts

Answer 12

based on intuitive judgements

Question 13

Goal

Answer 13

A broad, long-range target or aim

Question 14

Objective

Answer 14

A specific, short-range target or aim

Question 15

Organizing

Answer 15

The process of arranging resources to carry out the organization’s plans

Question 16

Management Pyramid

Answer 16

An organizational structure divided into top, middle, and first-line management

Question 17

Top Managers (CEOs, CTOs, President, ect.)

Answer 17

Those at the highest level of the organization’s management hierarchy
Responsible for setting strategic goals, and they have the most power and responsibility in the organization

Question 18

Middle Managers (Controller, manager, director, ect.)

Answer 18

Those in the middle of the management hierarchy

they develop plans to implement the goals of top managers and coordinate the work of first-line managers

Question 19

First-line Managers (Supervisors, managers, department head, ect.)

Answer 19

Those at the lowest level of the management hierarchy

They supervise the operating employees and implement the plans set at the higher management levels

Question 20

Leading

Answer 20

The process of guiding and motivating people to work toward organizational goals

Question 21

Cognitive Intelligence

Answer 21

involves reasoning, problem solving, memorization, and other rational skills

Question 22

Emotional Intelligence

Answer 22

measure of a person’s awareness of and ability to manage his or her own emotions

Question 23

Social intelligence

Answer 23

involves looking outward to understand the dynamics of social situations and the emotions of other people, in addition to your own

Question 24

Autocratic Leadership

Answer 24

Manager makes the decisions and issues directives down the chain of command; subordinates have little or no freedom to make decisions, deviate from plans, or provide contrary input

Question 25

Democratic Leadership

Answer 25

Manager Shares decision-making authority, seeking input and inviting subordinates to participate in a coordinated planning process; group can encourage a change of course if needed

Question 26

Laissez-Faire Leadership

Answer 26

Manager acts as advisor and supporter, offering input when asked but generally letting subordinates chart and adjust their own course towards meeting agreed-upon goal and objectives

Question 27

Organizational Culture

Answer 27

A set of shared values and norms that support the management system and that guide management and employee behavior

Question 28

Controlling

Answer 28

The process of measuring progress against goals and objectives and correcting deviations if results are not as expected

Question 29

Standards

Answer 29

Criteria against which performance is measured

Question 30

Benchmarking

Answer 30

Collecting and comparing process and performance data from other companies