MGT 301 Flashcards
Building a firm’s reputation and image is critical but difficult because…?
these are very subjective things driven by personal opinion.
The management paradox is?
trying to balance between competing priorities and conflicting demands, between the short-term and the long-term.
The Iron-Clad Law of Leadership
Before I can even expect to lead others, I must first learn to manage myself.
The Founding Principle of Leadership Development
When I become the kind of human being I ought to be on the inside, then I may become the kind of leader I want to be on the outside.
Am I becoming the kind of person who others want to follow? This is known as?
The Fundamental Question.
The Science of Management Includes What?
Planning, Organizing, and Controlling
What is Leadership
Intentionally influencing followers towards change through shared purpose and personal responsibility.
The two great forces of management that determine performance are?
Efficiency and Effectiveness
What is efficiency? The formula?
Maximum Output/Minimum Input
What is effectiveness?
Attaining appropriate goals.
What is a paradox?
The co-existence of seeming opposites.
What are the three levels of bosses?
Supervisors, Managers, and Executives.
What is the role of a Supervisor?
to work on short-term tasks, within a particular function of a business.
What is the role of a Manager?
to pass information upward, and to translate downward long-term strategies into short-term actions.
What is the role of Executives?
to work on long-term strategies for the entire organization.
What are the decision making roles of managers?
Entrepreneur, Disturbance Handler, Resource Allocater, and Negotiator.
What are the Information processing roles of managers?
Monitor, Dissemination, and Spokesperson.
What are the interpersonal roles of managers?
Figure-head, Liaison, and Leader.
What are the four principles of efficiency Adam Smith observed?
Division of Labor, Specialization, Expertise, Efficiency.
Who is known as the “father of scientific management?”
Frederick Taylor
What was Frederick Taylor’s motto?
One Best Way
What sort of studies did Frederick Taylor conduct?
Time and Motion studies of tasks.
What are Fredrick Taylor’s four principles of labor efficiency?
- Study the task. 2. Standardize the task. 3. Labor is a cog in the machine. 4. Piece-rate pay.
What company still heavily uses Frederick Taylor’s principles of labor efficiency?
UPS
What were some ideas Max Weber came up with to improve management?
Eliminate Nepotism, Positions based on Merit, Job Descriptions for Everyone organized into charts, Clear Policies and Procedures.
Mary Parker Follett believed what about people in relation to work?
Humans are not machines.
What are Mary Follett’s tips for managers?
Workers know the most, a manager should be a coach and facilitator,create cross functional teams, authority should be based on knowledge and skill.
Douglas McGregor believed what about managers?
That they will have either 2 theories. X or Y
What are theory X & Y?
Theory X: You will believe that people do not like to work. Theory Y: You will believe that people do like to work.
What do theory X & Y lead to?
Theory X leads to stricter rules whereas, Theory Y will be easier on employees.
What does McGregor say managers must be aware of?
Their own personal assumptions.
What are the big five personality traits of successful leaders?
High amount of extra-version, High amount of Negative-Effect, cuvilinear relationship to agreeableness, very high amount of consciousness, high interest and broad interest.
CP -> C&A -> M/E/F
Correct Principles determine your choices and actions which then determine your moods, emotions, and feelings.
Leaders who do not address their character flaws will fall into one of the five A’s. What are they?
Arrogance, Aloneness, Adventure-seeking, Adultery, Addiction.
Why is it important to understand who one’s stakeholders are?
Sometimes choices must be made that benefit one party and cut out another. This forces ethical decision making.
The Four Cornerstones for ethical decision making are?
Fundamental Rights, Equality, Social, Utility.
