Essentials of Contemporary Management 6th edition Chapter 1 – Flashcards
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The planning, organizing, leading, and controlling body of the Human and Other resources.
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Management
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To achieve organizational goals efficiently and effectively
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Goals of Management
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A measure of how effectively and efficiently a manager uses resources to satisfy customers and achieve goals
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Organizational Performance
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A measure of how well or how productively resources are used to achieve a goal. Focus on minimizing costs and time
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Efficiency
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A measure of the appropriateness of the goals an organization is pursuing and the degree to which the organization achieves those goals.
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Effectiveness
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When they choose appropriate goals and achieve them
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When are organizations effective
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What goals will the organization pursue? What strategies will be adopted to attain those goals? How to allocate the organizations resources to pursue the strategies to attain these goals.
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Name the 3 steps in planning
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Identifying and selecting appropriate goals.
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Define planning
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Planning, Organizing, Leading, and Controlling
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Name the 4 Principle Tasks of Management
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To articulate a clear vision. To energize and enable an organizations members so they understand the part they play in achieving an orgs. goals.
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Define Leading
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To evaluate how well an org. is (1) achieving its' goals and taking actions and (2) taking action to maintain or improve perfomance
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Define Controlling
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Structuring working relationships so org. members (1) interact and (2) cooperate, to achieve orgs. goals.
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Define organizing
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An outcome of organizing
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Organizational Structure
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A formal system of task and reporting relationships that (1) coordinates and (2) motivates organizational members so they work together to achieve orgs. goals
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Define Organizational structure
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Identifying the best way to use resources to make goods and services
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What are the benefits of organizational structure
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A cluster of decisions about (1) what goals to pursue, (2) what actions to take and (3) how to use resources to achieve goals
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Define strategy
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Planning
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What is strategy and outcome of
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Base of the pyramid, often called supervisors
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First Line Managers
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The daily supervision of the non-managerial employees. Can work all depts/functions of the org. (ie) run the register, stock shelves, settle accts.
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Responsibilities of First Line Managers
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Find the best way to organize human and other resources to achieve orgs. goals (includes training) (1) evaluate goals, (2) make suggestions to top mgrs. and (3) develop and fine-tune skills and know how that allow org. to efficient and effective
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Responsibilities of Middle Managers
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Responsible for the performance of all departments! (1) establishes orgs. goals, (2) Decides how depts. should interact, (3) monitors performance of middle managers. Have cross-department responsibilities
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Responsibilities of Top Managers
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Top Managers, (ie) Mike Dell and Tim Cook
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Who is ultimately responsible for an orgs. success or failure
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A collection of people who: (1) work together and (2) coordinate their actions to achieve a wide variety of goals or desired future outcomes
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Define organization
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The job-specific skills (knowledge & techniques) required to perform a certain job within an organization.
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Technical Skills
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The ability to (1) analyze and (2) diagnose a situation AND distinguish between cause and effect
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Conceptual skills
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Needed to do an orgs. planning and organizing
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What do top managers need exceptional conceptual skills
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The ability to (1) understand, (2) alter, (3) lead and (4) control the behavior of other individuals and groups
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Human skills
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Through education, training, and experience
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How can human skills be learned
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(1) Ceo, (2) Top Managers, (3) Middle Managers and (4) 1st Line Managers
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What are the 4 levels of managers and the order they are in from top to bottom
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The specific set of (1) department skills, (2) knowledge and (3) experience which allow an org. to outperform the competition
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Core Competency
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A competitive Advantage (ie.) Dells ability to manage materials costs which lead to Low Cost PC option
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What does success equal in core competency
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(1) conceptual, (2) human and (3) technical skills
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Effective managers need these skills
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In order to be more efficient and effective
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Why do managers need a certain set of skills to be effective
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The expansion of employees (1) knowledge, (2) tasks and (3) decision making responsibilities
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Empowerment
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Gives employees more authority and responsibility over how they perform their job. (ie) John Deere "sales people" example
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What is a key benefit of empowerment
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A group of employees who assume responsibility for (1) organizing, (2) controlling and (3) supervising their own activities and monitor the quality of goods and services
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Self Managed Team
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Can often do tasks quicker and more efficiently
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The benefits of a self-managed team
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The ability of one org. to outperform others because (1) it produces desired goods and services (Apple), (2) more efficiently and (3) more effectively
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Competitive Advantage
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(1) Efficiency, (2) quality, (3) Innovation and (4) responsiveness to customers needs
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What are the core building blocks of competitive advantage
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The process of creating New and Improved goods and services or developing better ways to produce and provide them
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Innovation
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To create an organization that inspires employees thru (1) small groups or teams, (2) decentralized control and (3) incentive for risk taking
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What is essential to inspire innovation
