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Introduction to Business > Topic 5 - Management and Leadership in Today’s Organizations > Flashcards

Topic 5 - Management and Leadership in Today’s Organizations Flashcards

1
Q

Define

Management

A

The process of guiding the development, maintenance, and allocation of resources to attain organizational goals.

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2
Q

State

The four key functional areas of the organization.

A
  • Planning
  • Organizing
  • Leading
  • Controlling
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2
Q

Describe the 4 stages of

The Managerial Process

A
  1. Anticipating potential problems or opportunities and designing plans to deal with them.
  2. Coordinating and allocating the resources needed to implement plans.
  3. Guiding personnel through the implementation process.
  4. Reviewing results and making any necessary changes.
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2
Q

State

Four basic types of planning

A
  1. Strategic Planning
  2. Tactical
  3. Operational
  4. Contingency
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3
Q

Describe

Strategic Planning

A
  • 1-5 Years
  • Job of top management
  • External environment and the entire organization
  • Establish mission and long-term goals
  • Broad and general content
  • High degree of uncertainty
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4
Q

Define

Mission Statement

A

A formal document that states an organization’s purpose and reason for existing and describes its basic philosophy

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5
Q

Describe

Tactical Planning

A
  • Less than one year
  • Responsibility of middle management
  • Establish mid-range goals for implementation
  • More specific content
  • Moderate degree of uncertainty
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6
Q

Describe

Operational Planning

A
  • Current, narrow and resource focused
  • To help guide and control the implementation of tactical plans
  • Supervisory management
  • Geographical and functional divisions
  • Implement and activate specific objectives
  • Specific and concrete content
  • Reasonable degree of certainty
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7
Q

Contingency Planning

A
  • When an event occurs or situation demands
  • Top and middle management
  • External environment and the entire organization
  • Meet unforeseen challenges and opportunities
  • Both broad and detailed content
  • Reasonable degree of certainty
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8
Q

State

Organizing

A
  • Division of labour
  • Departmentalization
  • Delegation

  • Division of labour - Dividing up tasks
  • Departmentalization - Grouping jobs and employees
  • Delegation - Assigning authority and responsibilities
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9
Q

Levels of Managerial Hierachy

A
  1. Top management
  2. Middle management
  3. Supervisory management

  1. Top management -
    * CEO, CFO, COO, CIO
    * President
    * Governor
    * General director
  2. Middle management -
    * Regional manager
    * Division head
    * Director
    * Plant Manager
    * Sales Manager
  3. Supervisory management -
    * Supervisor
    * Team leader
    * Foreman
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10
Q

Define

Leadership

A

The process of guiding and motivating others toward the achievement of organizational goals.

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11
Q
A
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12
Q

State

Primary Sources of Power

5

A
  • Legitimate power
  • Reward power
  • Coercive power
  • Expert power
  • Referent power
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13
Q

Legitimate power

Primary Sources of Power

A

Derived from an individual’s position in an organization.

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14
Q

Reward power

Primary Sources of Power

A

Derived from an individual’s control over rewards.

15
Q

Coercive power

Primary Sources of Power

A

Derived from an individual’s ability to threaten negative outcomes.

16
Q

Expert power

Primary Sources of Power

A

Derived from an individual’s extensive knowledge.

17
Q

Legitimate power

Primary Sources of Power

A

Derived from an individual’s personal charisma and the respect and/or admiration the individual inspires.

18
Q

Define

Empowerment

A

The process of giving employees increased autonomy and discretion to make decisions, as well as control over the resources needed to implement those decisions.

19
Q

Define

Corporate Culture

A

The set of attitudes, values, and standards that distinguishes one organization from another.

20
Q

Define

Controlling

A

The process of assessing the organization’s progress toward accomplishing its goals.

21
Q

State

The Control Process

A
  1. Set performance standards and goals
  2. Measure performance
  3. Compare actual performance to established performance standards
  4. Take corrective action
  5. Use information from the process to set up future performance standards

Back to step 1

22
Q

State

Managerial Roles

3

A
  1. Informational Roles
  2. Interpersonal Roles
  3. Decisional Roles
23
Q

Informational Roles

3

A
  • Monitor – Gathers information relevant to organization
  • Disseminator – Provides information where it is needed
  • Spokesperson – Transmits information to people outside the organization
24
Q

Interpersonal Roles

3

A
  • Figurehead – Represents the company in a symbolic way
  • Leader – Guides and motivates employees to achieve goals
  • Liaison – Acts as a go-between among individuals, inside and outside
25
Q

Decisional Roles

4

A
  • Entrepreneur – Searches out new opportunities and initiates change
  • Disturbance Handler – Handles unexpected events and crises
  • Resource Allocator – Designates use of organizational resources
  • Negotiator – Represents the company at negotiating processes
26
Q

State

The decision making process

5 (DISPF)

A
  1. Define the problem
  2. Identify possible solutions
  3. Select one or more alternatives
  4. Put the plan into action
  5. Follow up to see if the problem has been solved
27
Q

State

Managerial Skills

A
  • Technical skills
  • Human relations skills
  • Conceptual skills
28
Q

Managerial Skills

Technical skills

A

A manager’s specialized areas of knowledge and expertise, and the ability to apply that knowledge.

29
Q

Managerial Skills

Human relations skills

A

A manager’s interpersonal skills used to accomplish goals through the use of human resources.

30
Q

Managerial Skills

Conceptual skills

A

A manager’s ability to view the organization as a whole, understand the interdependencies, and its relation to the external environment

Introduction to Business (6 decks)

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