Management Chapter One – Flashcards
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planning, organizing, leading, controlling
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four functions of management
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management
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the process of working with people and resources to accomplish organizational goals
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effective
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To be _____ is to achieve organizational goals.
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efficient
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To be _____ is to achieve goals with minimal waste of resources--that is, to make the best possible use of money, time, materials, and people.
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planning
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specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals
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planning
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systematically making decisions about the goals and activities that an individual, a group, a work unit, or the overall organization will pursue
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delivering strategic value
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In today's highly competitive business environment, the planning function can also be described as _____.
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organizing
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assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals
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build a dynamic organization
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The organizing function's goal is to _____.
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leading
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stimulating people to be high performers
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innovation, quality, service, speed, cost competitiveness
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five sources of competitive advantage
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trade-offs, ignored
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_____ may occur among the competitive advantages, but one should not be _____ to achieve the other.
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planning
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analyzing current situations, anticipating the future, determining objectives, and deciding in what types of activities the company will engage
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organizing
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attracting people to the organization, specifying job responsibilities, grouping jobs into work units, and marshaling and allocating resources
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leading
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motivating and communicating to help people achieve organizational goals
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interpersonal, informational, decisional
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three major categories of roles
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variety, three, overlap, blurry
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In working through the four managerial functions, managers take on a _____ of roles. Roles can be grouped into _____ major categories, but roles often _____ and distinctions can be _____.
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figurehead, leader, liaison
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three interpersonal roles
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figurehead
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performs social and legal duties, acts as a symbolic leader
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figurehead
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greets visitors, signs legal documents, attends ribbon-cutting ceremonies, hosts receptions, etc.
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leader
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directs and motivates subordinates, selects and trains employees, includes almost all interactions with subordinates
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liaison
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establishes and maintains contacts within and outside the organization
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liaison
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maintains business correspondence, participates in meetings with representatives of other divisions or organizations
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monitor, disseminator, spokesperson
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three informative roles
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monitor
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seeks and acquires work-related information
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monitor
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scans/reads trade press, periodicals, and reports; attends seminars and training; and maintains personal contacts
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disseminator
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communicates to others within the organization
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disseminator
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sends memos and reports, informs staffers and subordinates of decisions
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spokesperson
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communicates/transmits information to outsiders
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spokesperson
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passes on memos, reports, and informational materials; participates in conferences/meetings and reports progress
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entrepreneur, disturbance handler, resource allocator, negotiator
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four decisional roles
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entrepreneur
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identifies new ideas and initiates improvement projects
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entrepreneur
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implements innovations, plans for the future
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disturbance handler
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deals with disputes or problems and takes corrective action
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disturbance handler
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settles conflicts between subordinates, chooses strategic alternatives, overcomes crisis situations
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resource allocator
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decides where to apply resources
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resource allocator
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drafts and approves of plans, schedules, and budgets; sets priorities
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negotiator
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defends business interests
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negotiator
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participates in and negotiates within team, department, and organization
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four, three, busy, fragmented, all areas
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A typical day for a manager is not neatly divided into the _____ functions or the _____ roles. Days are _____ and _____, and spent dealing with interruptions, meetings, and firefighting. A good manager must strive to perform well in _____.
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functions, management roles, skills
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For management to get to a competitive advantage, there are four primary _____, which are accomplished through a variety of _____, which utilize a number of different _____.
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technical, conceptual and decisional, interpersonal and communication
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three broad skills needed by managers
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technical skills
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the ability to perform a specialized task involving a particular method or process
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conceptual and decision skills
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the ability to identify and resolve problems for the benefit of the organization and its members
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interpersonal and communication skills
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people skills--the ability to lead, motivate, and communicate effectively with others
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top-level, middle-level, frontline, team leader/supervisor
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four different levels of managers
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top-level managers
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senior executives (often called (C-level), responsible for the overall management and effectiveness of the organization
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middle-level managers
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managers located in the middle layers of the organizational hierarchy, reporting to top-level executives and directing lower levels
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frontline managers
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lower-level managers who execute the operations of the organization
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team leader or supervisor
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employees who are responsible for facilitating successful team performance
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high, medium, high
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A team leader/supervisor should have _____ technical skills, _____ conceptual/decisional skills, and _____ interpersonal/communication skills.
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high, medium, high
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A frontline manager should have _____ technical skills, _____ conceptual/decisional skills, and _____ interpersonal/communication skills.
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medium, high, high
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A middle-level manager should have _____ technical skills, _____ conceptual/decisional skills, and _____ interpersonal/communication skills.
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low, high, high
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A top-level manager should have _____ technical skills, _____ conceptual/decisional skills, and _____ interpersonal/communication skills.
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change, stressful, people
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Managerial roles _____ quickly, can be _____, and almost always involve dealing with other _____.
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emotional intelligence, interpersonal and communication
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Best managers tend to have high _____, which corresponds with good _____ skills.
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emotional intelligence
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the skills of understanding yourself, managing yourself, and dealing effectively with others
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social effectiveness, social relations
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Generally speaking, emotional intelligence improves an individual's _____. The higher the emotional intelligence, the better the _____.
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globalization, technological change, importance of knowledge and ideas, collaboration across organizational boundaries, more diverse labor force
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five major challenges facing managers today
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controlling
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monitoring performance and making needed changes
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controlling
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ensuring that efforts are resulting in the desired goals
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all four
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Good management requires _____ functions.
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tactical managers
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another term for middle-level managers
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leader
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staffing, training, and motivating people to achieve organizational goals
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liaison
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maintaining a network of outside contacts and alliances that provide information and favors
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figurehead
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performing symbolic duties on behalf of the organization, like greeting important visitors and attending social events
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monitor
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seeking information to develop a thorough understanding of the organization and its environment
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disseminator
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sharing information between different people like employees and managers; sometimes interpreting and integrating diverse perspectives
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spokesperson
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communicating on behalf of the organization about plans, policies, actions, and results
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entrepreneur
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searching for new business opportunities and initiating new projects to create change
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disturbance handler
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taking corrective action during crises or other conflicts
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resource allocator
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providing funding and other resources to units or people includes making major organizational decisions
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negotiator
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engaging in negotiations with parties inside and outside the organization
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understanding yourself, managing yourself, working effectively with others
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three skill sets known collectively as emotional intelligence (or EQ)
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social capital
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goodwill stemming from your social relations
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knowledge workers
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workers whose primary contributions are ideas and problem-solving expertise
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knowledge management
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practices aimed at discovering and harnessing an organization's intellectual resources
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knowledge management
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about finding, unlocking, sharing, and capitalizing on the most precious resources of an organization: people's expertise, skills, wisdom, and relationships
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knowledge management
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typically relies on software that lets employees contribute what they know and share that knowledge readily with one another (could be responsibility of IT)
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collaboration
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boosts performance
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T-shaped managers
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break out of the traditional hierarchy to share knowledge freely across the organization while remaining fiercely committed to the performance of their individual business units
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inside company, other companies, customers
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three groups where collaboration should be emphasized
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innovation
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the introduction of new goods and services
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quality
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the excellence of your products (goods or services)
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service
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the speed and dependability with which an organization delivers what customers want
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total quality
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includes preventing defects before they occur, achieving zero defects in manufacturing, and designing products for quality
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preventing, zero defects, designing
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Total quality includes _____ defects before they occur, achieving _____ in manufacturing, and _____ products for quality.
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service
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means giving customers what they want or need, when and where they want it
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speed
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fast and timely execution, response, and delivery of results
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cost competitiveness
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keeping costs low to achieve profits and be able to offer prices that are attractive to consumers
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operational implementer, facilitator of team effectiveness
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Transformation of Management Roles and Activities: team leaders have changed from _____ to _____.
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administrative controllers, supportive controllers
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Transformation of Management Roles and Activities: middle-level managers have changed from _____ to _____.
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operational implementers, aggressive entrepreneurs
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Transformation of Management Roles and Activities: frontline managers have changed from _____ to _____.
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resource allocators, institutional leaders
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Transformation of Management Roles and Activities: top-level managers have changed from _____ to _____.