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Management

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the process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources.

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Planning

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includes anticipation trends and determining the best strategies and tactics to achieve organizational goals and objectives. This is a key management function because accomplishing the other functions depends heavily on having a good plan.

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Organization

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designing the structure of the organization and creating conditions and systems in which everyone and everything work together to achieve the organization's goals and objectives

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Leading

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creating a vision for the organization and communicating, guiding, training, coaching, and motivating others to achieve goals and objectives in a timely manner. The trend it to empower employees, giving them as much freedom as possible to become self-directed and self-motivated. This function was once known as directing; that is, telling employees exactly what to do.

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Controlling

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establishes clear standards to determine whether an organization is progressing towards its goal and objectives, rewarding people for doing a good job, and taking corrective action if they are not. Measuring whether what actually occurs meets the organization's goals.

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Mission statement

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outlines the organizations fundamental purposes.

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vision

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an encompassing explanation of why the organization exists and where it's trying to go.

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Goals

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the broad long-term accomplishments an organization whishes to attain

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Objectives

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specific, short-term statements detailing how to achieve the organizations goals.

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SWOT analysis

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a planning tool used to analyze an organizations strengths, weaknesses, opportunities, and threats.

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Strategic planning

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is the process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goal. The setting of broad long-range goals by top managers.

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Tactical planning

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the process of developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done. The identification of specific, short-range objectives by lower-level managers.

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Operational planning

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the process of setting work standards and schedules necessary to implement the company's tactical objectives.

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Contingency planning

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the process of preparing alternative courses of action that may be used if the primary plans don't achieve the organization's objectives.

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Decision making

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choosing among two or more alternatives, which sounds easier than it is, which is why decision making is the heart of all the management functions.

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Problem solving

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the process of solving the everyday problems that occur. Less formal than decision making and usually calls for quicker action to resolve everyday issues.

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Brainstorming

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a problem solving technique that is coming up with as many solutions as possible in a short period of time with no censoring of ideas.

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PMI

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a listing of all the Pluses for a solution in one column, all the Minuses in another, and all the Implications for a solution in a third.

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Top management

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the highest level of management, consists of the president and other key company executives who develop strategic plans.

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Middle management

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general managers, division managers, and branch and plant managers who are responsible for tactical planning and controlling.

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Supervisory management

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those directly responsible for supervising workers and evaluating their daily performance; they're often known as first-line managers (or supervisors) because they're the first level above workers.

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Technical skills

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the ability to perform tasks in a specific discipline (such as selling a product or developing software) or department (such as marketing or information systems)

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Human relations skills

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communication and motivation; they enable managers to work through and with people.

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Conceptual skills

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let managers picture the organization as a whole and see the relationships among its various parts. They are needed in planning, organizing, controlling, system development and problem solving.

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Staffing

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recruiting, hiring, motivating, and retaining the best people available to accomplish the company's objectives

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Transparency

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the presentation of a company's facts and figures in a way that is clear and apparent to all stakeholders.

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Autocratic leadership

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making managerial decisions without consulting others. This style of leadership is effective in emergencies and when absolute fellowship is needed.

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Participative (democratic) leadership

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involves managers and employees working together to make decisions. Research has found that employees participation in decisions may not always increase effectiveness but usually will increase job satisfaction

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Free-rein leadership

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when managers set objectives and employees are free to do whatever is appropriate to accomplish those objectives.

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Empowerment

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giving employees the authority to make a decision without consulting the manager and the responsibility to respond quickly to customer requests.

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Knowledge management

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the process of finding the right information, keeping it in a readily accessible place, and making it known to everyone

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External customers

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include dealers, who buy products to sell to others

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Internal customers

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individuals and units within the firm that receive services from other individuals or units.

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Select the statement that best substantiates why we say, "The role of management is changing." a. Future managers must have their ear and eye toward domestic issues because the goal is to bring jobs back to the U.S. by eliminating outsourcing. b. Managers will evolve toward measuring and evaluating individual employee performance and eliminate employees who prefer not to work independently. c. Contemporary managers will focus on global issues and green issues, and continue to emphasize the team approach to work d. Contemporary managers will emphasize structure and less creative thinking, particularly during recessionary times.

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Contemporary managers will focus on global issues and green issues, and continue to emphasize the team approach to work

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Contemporary managers ___________.

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emphasize teamwork and cooperation, and act as coaches, rather than bosses.

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Cara started a small business a little less than 10 years ago. The business employed several social workers and nurses that visited and cared for persons who had left hospital care, but were not quite ready to be on their own at home. As the CEO of the firm, Cara decided it was time to hire a business operations manager and a marketing manager to handle the details of the business. Which of the following functions of management was Cara primarily performing?

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Organizing

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"We believe in creating loyal customers by providing a superior experience at a great value. We are committed to direct relationships, providing the best products and services based on standards-based technology, and outperforming the competition with value and a superior customer experience." This statement is a part of Dell's:

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mission statement.

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Most businesses follow a logical process when performing the planning function. It is important to understand ______________________, before embarking upon creating future long-term goals, objectives, and strategies.

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the current situation

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A traditional tool that serves as a way of evaluating a company's current business situation is called the SWOT Analysis. This is an acronym for ___________.

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Strengths, Weaknesses, Opportunities, Threats

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All managers do planning. Allison is a general manager for a large toy store. Each day she plans the number of employees she will have in each department, including the number of cashiers. She plans the break schedules and the freight delivery schedules. In the business world, we refer to this type of planning as ___________.

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operational planning

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Ben oversaw the work of six pharmaceutical sales managers in the southeast region of the U.S. Each sales manager managed a team of 8-10 pharmaceutical sales representatives that developed relationships with doctors, clinics, hospital pharmacies and local drug stores. Ben met regularly with four others in his company whose jobs were similar to his position. How would you describe the level of management Ben has achieved?

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Middle management

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Technical skills that apply to the business at hand are most often necessary at __________.

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lower levels of management

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Which of the following leadership styles focuses on making decisions without consulting others?

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Autocratic

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