UNIT 1: Introduction to the Principles of Management

Question 1

Triple bottom line

Answer 1

People, Planet, Profit

Question 2

P-O-L-C

Answer 2

Planning- Organizing - Leading - Controlling

Question 3

Empowerment

Answer 3

The process of enabling or authorizing an individual to think, behave, take action, and control work & decision making in autonomous

Question 4

General management roles

Answer 4

Responsible for mng a clearly identifiable revenue-producing unite {store, business unite, product line}

Question 5

General management Process

Answer 5

Take direction form top excutives –> understands executives’s overall plan –> set specific goals

Question 6

Managers’ responsibility

Answer 6

Getting actions completed efficiently with/ through other people and setting & achieving firm’s goals through the execution of POLC functions by utilizing: human, financial and material resources.

Question 7

Managers’ areas

Answer 7

Interpersonal - Informational - Decisional

Question 8

Managers’ roles (Inter)

Answer 8

Interpersonal {figurehead - leader - liaison}

Question 9

Managers’ roles (Info)

Answer 9

Informational {monitor - disseminator - spokesperson}

Question 10

Managers’ roles (Deci)

Answer 10

Decisional {entrepreneur - disturbance handler - resource allocation - negotiation}

Question 11

Leadership

Answer 11

social/ informal sources of influence use to inspire action taken by others

Question 12

Competition among employers and countries for?

Answer 12

best and brightest to increase mobility (war for talent) and hyper-competition to puts pressure on firms to invest in the present and future leadership capabilities.

Question 13

Entrepreneurship

Answer 13

recognition of opportunities (needs, wants, problems, challenges) & the use or creation of resources to implement innovative ideas for new, thoughtfully planned ventures

Question 14

Entrepreneur

Answer 14

a person who engages in the process of entrepreneurship

Question 15

Strategy

Answer 15

provide a clear set of guidelines for daily action

Question 16

Strategic management

Answer 16

what an org does to achieve its mission and vision {use knowledge}

Question 17

functions of POLC

Answer 17

have been tremendous changes in the environment faced by managers and the tools used by managers to perform their roles, managers still perform these essential functions

Question 18

Environmental scanning

Answer 18

planners must be aware of the critical contingencies facing their organization in terms of economic conditions, competitors, & customers

Question 19

strategic planning (top mngr)

Answer 19

ivl analyzing competitive opportunities and threats, & the strengths and weaknesses of the orgn, and then determining how to position the orgn to compete efficiently in its environment

Question 20

tactical planning

Answer 20

intermediate-range (1-3yrs) planning that is designed to develop relatively concrete & specific means to implement the strategic plan

Question 21

structure of orgn

Answer 21

usually represented in the chain of command within an org

Question 22

orgl design decisions

Answer 22

make abt the structure of an orgn

Question 23

teamwork

Answer 23

cooperative effort by the member of a grp or tm to achieve a cmm goal

Question 24

effective controlling

Answer 24

requires the existence of plans, since planning provides the necessary perf stds or objs