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Intro To Management Midterm > Midterm > Flashcards

Midterm Flashcards

1
Q

Four functions of management

A

Planning
Organizing
Controlling
Leading

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2
Q

What is planning

A

Defining goals: usually pushed from the top and on down

Goals deliver strategic value

Goals drive plans you put into place

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3
Q

What is organizing

A

How the organization will be structured

Who is responsible for what

Who has authority

Allocating resources

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4
Q

Controlling

A

Most things are accomplished by people

People must be motivated and supportive of plan

Resolving conflicts

Leadership

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5
Q

What is leading

A

How do we get back on track (correction)

Where are we (measurement)

Where do we plan to be? (Evaluate)

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6
Q

Definition of management (people)

A

The people with authority to decide what the goals of the organization should be and how those goals will be achieved

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7
Q

Definition of management (process)

A

The process of planning, organization, leading, and controlling people in the organization. To effectively and efficiently use resources to meet organizational goals

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8
Q

Four Types of plans

A

Strategic plans
Tactical plans
Operational plans
Contingency plans

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9
Q

Vertical management

A

Top down management

Hierarchical relationship

Most companies use this management style

Vertical thinking

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10
Q

Types of roles (mintzberg)

Three broad categories

A

Interpersonal
Informational
Decisions

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11
Q

Interpersonal roles (mintzberg)

A

Figurehead
Leader
Liaison

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12
Q

Informational roles

A

Monitor
Disseminator
Spokesperson

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13
Q

Decisions roles

A

Entrepreneur
Disturbance handler
Resource allocator
Negotiator

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14
Q

Figurehead

A

Externally represent organization

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15
Q

Leader

A

Lead and guide people to organization goals

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16
Q

Liaison

A

Connects people

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17
Q

Monitor

A

Seek information to understand organization and if environment

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18
Q

Disseminator

A

Sharing information between people

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19
Q

Spokesperson

A

Communicate on behalf of organization.

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20
Q

Disturbance handler

A

Taking corrective action during crisis or conflicts

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21
Q

Resource allocator

A

Provides resources to people and units

22
Q

Negotiator

A

Engages in negotiations with stakeholders inside and outside the organization

23
Q

Four levels of management

A

Top management
Middle managers
First line managers
Team leaders

24
Q

What is a top manager

A

Responsible for long term success of company

Mostly setting goals and paying attention to external environment of company

25
Q

Middle manager

A

Received broad strategic plans

Implements tactical and operational plans

Encourages, supports, and fosters employees

Mainly organizing and leading

26
Q

First line manager

A

Focused on internal issues

Must communicate and be affective leaders
Entry level

27
Q

Team leader

A

Make sure team is operating efficiently

Develops timelines for people

Distribute work assignments

Train their teams

Communicate instructions

28
Q

Classical viewpoints

Pros and cons

A

Pros
Clear structure for management

Increased productivity and efficiency

Increased wages for workers

Lead to better working conditions

Cons
Tends to view humans as cogs within a machine

One idea is the best way

Simple organization structure

No creativity

29
Q

Definition of humanistic approach

A

The emphasis is on the importance of understanding human behavior and motivating and encouraging employees

30
Q

Describe hawthorn studies

A

Workers feelings and attitudes affect their work

Financial incentives not most important

Group norms and behavior play a critical role

31
Q

Definition of scientific management

A

Scientific methods can be applied to analyzing work and completion Of tasks to maximize efficiency

32
Q

Four principles of scientific management

A

Study
Hire
Monitor
Divide

33
Q

Operations management

A

Concerned with physical processes

34
Q

Management science

A

Use mathematical models and statistical methods to improve decision making

35
Q

Quality control

A

The strategy for minimizing errors by managing each stage of production

36
Q

Quality assurance

A

Focuses on the performance of workers

37
Q

Total quality management

A

Continuous improvement
Training
customer satisfaction

38
Q

Max Weber’s components of bureaucracy

A 
Hierarchical management 
Division of labor 
Formal selection process 
Career orientation and ownership 
Formal rules and regulations
39
Q

Goldberg motion studies

A

Identified 17 basic motions and applied them to work process

40
Q

Macro environment

A 
Laws and regulations 
Economy
Technology 
Demographics 
Social values
41
Q

Competitive environment

A 
Rivers 
New competitors 
Customers 
Substitutes 
Suppliers
42
Q

Internal environment

A

Culture

Values

43
Q

PESTEL

A

External analysis

Political 
Economic 
Social
Technological 
Legal
44
Q

SWOT

A

Internal analysis

Internal strengths
Internal weaknesses
External opportunities
External threats

45
Q

Porters 5 forces

A 
Profits (higher vs lower)
Entrance (difficult vs easy)
Rivalry (high vs low)
Buyers (weak vs strong) 
Suppliers (weak bs strong) 
Substitutes (easy vs hard to switch)
46
Q

VRIO

A

Value
Rarity
inimitable
Organization

47
Q

Mission

A

Organizations reason for being

48
Q

Vision

A

Future orientated

aspirations

49
Q

Stakeholder analysis

A

To understand the groups and individuals who have an interest in the organization and have some influence on the companies strategy and performance

50
Q

Basis of planning

A

Mission and vision
Strategy
Goals and objectives

51
Q

Corporate strategy

A

High level
Businesses, markets, industries,
Concentration

52
Q

Business strategy

A

More specific
Major actions that strengthen companies competitive advantage
Low cost strategy vs differentiation

Intro To Management Midterm (1 decks)

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