Chapter 1 : The Exceptional Manager – Flashcards
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Efficient
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To be efficient means to use resources like people, money, and raw materials wisely and cost effectively.
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Effectiveness
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Is the organizations ends. (THE GOAL)
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Effective
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To achieve results, to make the right decisions & to successfully carry them out so they achieve the organization's goals.
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What are the 4 levels of management?
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Top Managers, Middle Managers, Fist-Line Managers, & Team leaders.
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Top Manager
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Make long-term decisions about the overall direction of the organization and establish the objective, policies, & strategies for it. ex. CEO, COO, President & Senior VP.
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Middle Manager
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Implement the policies & plans from top manager and supervise and coordinate the activities of the first manager.
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Team Leader
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A manager who is responsible for facilitating team activities toward achiving key results.
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First- Line Manager
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Directing daily tasks. Make short-term decisions.
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What are the 4 Management Functions?
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Planning, Organizing, Leading, & Controling
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Planning
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You set goals & how to achieve them
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Organizing
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You set task, people, and other resources to accomplish the work.
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Controlling
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Monitor performance compares it with goals and takes corrective action as needed.
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Leading
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Motivate, direct, and otherwise influence people to work hard to achieve the organization's goal.
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General Manager
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Responsible for several actives
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Functional Manager
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Responsible for 1 activity
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Managers 3 Types of Organizations
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For-Profit, Non- Profit, Mutal Benefit
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For-Profit Organization
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For Money Makers
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Non- Profit Organization
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For offering services
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Mutual- Benefit Organization
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For Aiding members. ex: Voluntary Collections
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What are the 7 Management Challenges?
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1) Competitive advantage 2) Diversity 3) Globalization 4) Information Technology 5) Ethical Standards 6) Sustainability (Green Company) 7) Happiness & Meaningfulness
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Conceptual Skills
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The ability to think analytically
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Human Skills
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The ability to interact well with people "Soft Skill"
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Technical Skills
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The ability to perfer a specific job
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Informational Roles
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Managers receive and communicate information ex: monitor , spokesperson.
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Interpersonal Roles
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Managers interact with people inside and outside their work units. Ex: Figurehead, Leader
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Decisional Roles
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Managers use information to make decisions to solve problems or take advantage of opportunities.
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A national sales organization has implemented a set of training courses on its intranet, with a link that allows employees to find and share answers to questions that arise with customers. A system that allows the sharing of knowledge and information throughout an organization is known as ___. a) knowledge implementation b) knowledge management c) a strategy database d) Big Data e) a wisdom system
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b) knowledge management
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ABC Manufacturing employs some of the top professionals in its field, and because of their skills and experience, ABC is highly efficient and outperforms its competitors. ABC Manufacturing has a(n) ____ over its competition. a) synergistic advantage b) collaborative advantage c) effectiveness advantage d) quality mark e) competitive advantage
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e) competitive advantage Competitive advantage is the ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them.
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Tom, a restaurant general manager, carefully watches his restaurant costs by reusing some items that in the past were immediately thrown away. Tom is an example of a(n) _____ manager. a) mentoring b) effective c) diverse d) visionary e) efficient
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e) efficient Efficiency is the means of attaining the organization's goals. To be efficient means to use resources like people, money, and raw materials wisely and cost effectively.
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To help maintain a competitive advantage, the emphasis for most companies is on _____. a) employee training b) production efficiency c) employee happiness d) company synergy e) employee longevity
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b) production efficiency A generation ago, organizations rewarded employees for their length of service. Today, however, the emphasis is on efficiency: Companies strive to produce goods or services as quickly as possible using as few employees (and raw materials) as possible.
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Don works diligently to accomplish the company goals in an efficient and effective manner, utilizing his employees through planning, organizing, leading, and controlling company resources. Don is ___. a) vision planning b) entrepreneuring c) managing d) developing synergy e) delegating
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c) managing 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 organization's resources.
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At ABC Manufacturing, employees work together to achieve the company goals and purposes. This describes ___. a) an organization b) stretch goals c) visionaries d) a force e) ad hoc teams
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a) an organization An organization is a group of people who work together to achieve some specific purpose.
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Greg, a supervisor, is known by his managers to be sharp in his decisions and has a good track record of meeting his goals. Greg is a(n) ____ manager. a) effective b) efficient c) visionary d) diverse e) mentoring
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a) effective Effectiveness is the organization's ends, the goals. To be effective means to achieve results, to make the right decisions, and to successfully carry them out so they achieve the organization's goals.
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The owners of a local restaurant routinely try to develop new menu items and seek better ways of helping their customers; this is an example of ___. a) MBO b) synergy c) efficiency d) innovation e) the production objective
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d) innovation Finding ways to deliver new or better goods or services is called innovation. No organization, for-profit or nonprofit, can allow itself to become complacent, especially when rivals are coming up with creative ideas. "Innovate or die" is an important adage for any manager.
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When building a new residential development or mall, a national real estate organization typically does not remove many trees, basing its decision on the belief that natural resources are limited, and we need to not compromise the ability of future generations to meet their own needs. This management philosophy is known as ___. a) sustainability b) green values c) enviro ethic d) natural ethics e) social capital
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a) sustainability Sustainability is defined as economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs.
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Intrapreneur
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Someone who works inside an existing organization who sees opportunity or services and tries to realize it. Ex: 3M Post-it
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Entrepreneur
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Someone who sees a new opportunity & takes it
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Entrepreneurship
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The process of taking risks to try to create a new enterprise
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