Unit 12 Flashcards
What is management?
Management is defined as the pursuit of organizational goals efficiently and effectively by integrating the work of people through planning, organizing, leading and controlling the organisation’s resources.
Good managers have an influence on the organization far beyond the results that can be achieved by one person acting alone.
What is the art of management?
• Being an exceptional manager is an art that can be learned.
• Management is the art of getting things done through people.
• Managers are task-oriented, achievement- oriented, and people-oriented.
• Good managers are concerned with trying to achieve both efficiency and effectiveness.
What is the multiplier effect?
Good managers create value.
As a manager you have a multiplier effect: Your influence on the organization is multiplied far beyond the results that can be achieved by just one person acting alone.
What are efficiency and effectiveness?
Efficiency: using resources such as people, money, raw material, etc. wisely and cost-effectively, to achieve the mission and the vision of the company.
Effectiveness: regards the organizations ends and goals. Being effective means achieving results, making the right decisions, and carrying them out successfully (to achieve the mission and the vision of the company).
What are the rewards of studying management?
The rewards of studying management include:
• Having an insider’s understanding of how to deal with organizations from the outside.
• Learning how to relate with supervisor.
• Having better interactions with co-workers.
• Being able to manage oneself and one’s career.
• Possibly making more money during one’s career.
What are the rewards of practicing management?
The rewards of practicing management include:
• You and your employees can experience a sense of accomplishment.
• You can stretch your abilities and magnify your range.
• You can build a catalog of successful products or services.
What do managers do? What are the four principal functions?
Planning: setting goals and deciding how to achieve them. Your college was established for the purpose of educating students and its present managers or administrators, must now decide the best way to accomplish this.
Organizing: arranging tasks, people, and other resources to accomplish the work.
Leading: motivating, directing, and otherwise influencing people to work hard to achieve the organization’s goals.
Controlling:monitoring performance, comparing it with goals, and taking corrective actions as needed.
What are the four levels of management?
• Top managers make long-term decisions.
• Middle managers implement the policies and plans of the top managers above them.
• First-line managers make short-term operating decisions.
• Team leaders are responsible for facilitating team activities.
• Non-managerial employees either work alone on tasks or with others on a variety of teams.
What are functional managers and general managers?
Functional managers are responsible for just one organizational activity
If your title is Vice President of Production, Director of Finance, you are a functional manager
General managers are responsible for several organizational activities.
If you are working for a small organization of, say, 100 people and your title is Executive Vice President, you are probably a general manager over several departments, such as production and finance and human resources.
Managers for three typers of organizations? What are them?
For-profit organizations
Making money (profits) by offering products or services.
Non-profit organizations
Offering services to stakeholders, not to make a profit (for example social-welfare
agencies, associations etc…)
Public sector organizations
Offering services to the public, not to make a profit (for example, hospitals, universities and local governments , etc.)
Different organizations, different management?
Generally you would be performing the four management functions of planning, organizing, leading, and controlling, regardless of the type of organization.
The measure of success is the single biggest difference.
In a for-profit organization, the measure of success is how much profit (or loss) it generate.
In the other two types of organizations although income and expenditures are very important concerns, the measure of success is usually the effectiveness of the services delivered.
The Manager’s Roles
Three Types of Managerial Roles:
• Interpersonal
• Informational
• Decisional
How Do Managers Spend Their Time?
• Managers are always working, and they are in constant demand.
• Managers spend virtually all of their work time communicating with others.
• Managers must be purposeful and proactive about managing their time.
Three types of managerial roles
■Interpersonal roles (Interacting with people inside and outside their work units)
❖ Figurehead, Leader, and Liaison
■Informational roles (Receiving and communicating
information):
❖ Monitor, Disseminator, and Spokesperson
■Decisional roles (Using information to make decisions to solve problems or take advantage of opportunities):
❖ Entrepreneur, Disturbance Handler, Resource Allocator, and Negotiator
The skills exceptional managers need
■Technical Skills:
The ability to perform a specific job
■Conceptual Skills:
The ability to think analytically, to visualize an organization as a whole and to understand how it works together
■Human Skills:
“Soft Skills,” the ability to interact well with people and teams
And additional valued traits in managers.
