Nature Of Management Flashcards
What is management
Management is a process designed to achieve an organisation objectives by using its resources effectively and efficiently
Meaning of effectively
Having the intended result
Meaning of efficiently
Accomplishing objectives with minimal resources
What is a manager
managers make decisions on how the organization uses its resources as well as planning and controlling the activities to reach its objectives
what is downsizing
this is the elimination of significant number of staff from a firm
what is acquiring suppliers as a manager
is making sure that products are delivered to customers while maximizing efficiencies and providing creative solutions to help reduce expenses
what are the functions of management
planning organizing directing and controlling
what is planning
it is to determine the companies objectives and deciding how to accomplish them this can be the mission goals and objectives
what is a mission
this answer what business are we in as a company
what are goals
are aspirations of a company that are consistent and comprehensive
what are objectives
general sytas that are measurable that a company may achieve
name the 4 types of plans
strategic plan
tactical plan
operational plan
crisis management (contingency plan)
what is a strategic plan
long range objectives and overall strategy or course of action which a firm fulfills its mission generally longer than 1 year
wat is a tactical plan
short term and designed to implement the activities and objectives specified in the strategic plan generally in less than a year
what is an operational plan
short term and specifies what action employees or departments are meant to do in order to achieve the tactical plan and ultimately the strategic plan, these maybe weekly or daily plans
what is crisis management
deals with potential disaster such as product tempering or natural disaster even pandemics or illegal conducts by employees
what is organization by a manager
managers must review plans and determine what activities are necessary to implement them while creating synergy and establishing a line od authority
what is directing by a manager
this is motivating and leading employees to achieve the objectives of a firm
what is controlling by a manager
its is the process of evaluating and controlling activities to keep the firm in course
what are the 5 steps of controlling
1 measuring performance
2 comparing present to standard performance
3 identify differences from standard performance
4 investigating the difference from standard performance 5
5 taking corrective action
what are the levels of management
high level management
middle level management
front line management
what is high level management
these are top level management that make the firms strategic decision that focus on overall scheme or key ides to take advantage of the opportunities like the CEO CFO
what is middle level management
these are responsible for tactical and operational planning with guide lines established by high level management such a s plant managers or division mangers
what is front line management
these are supervisors for both workers and daily operations and spend most of their time directing and controlling
like foreman and office mangers
name other managers and what they do
financial manager - focuses on obtaining money for successful operations
Production / operations manger - develops and maintains the activities in transforming resources into goods and services
Human recourses manger - handles all staffing issues in a formalized manner
Marketing manager -responsible for planning pricing and promoting the products and making them available to customers
IT manager -
implement, maintains and controls technological applications such as computer networks
Administrative manager -manage a segment of a business and does not specialize in a particular function
what 4 skills are needed by a manger and explain them
technical expertise - knowledge and training to perform the job
Conceptual skills - to think abstract and see how parts fit together to form a whole
Analytical skills ability to identify relevant issues and recognize their importance
Hunan relation skills - ability to deal with people both on and of the job
what is leadership
the ability to influence employees to work towards a common goal
what are the 4 types of leadership and explain them
Autocratic - make all decision and tell employees what to do
Democratic - involves employees in the decision making
Free rein - lets employees work with out interference
Authentic - passionate about showcasing the goals and values of the firm
what is employee empowerment
when employees are given the ability to take responsibility and make decisions about their jobs
what are the 6 steps in decision making
1 recognize and define the satiation
2 Develop options to resolve the situation
3 Analyze the options
4 selecting the best option
5 implementing the decision
6 monitoring the consequences of the decision
