Principles of Management 371 Chapter 1 – Flashcards
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Why does innovative Management matter?
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â¢Innovations in products, services, management systems, productions, processes, corporate balies and other aspects of the organization are what keeps companies: -Growing -Changing -Thriving â¢Innovation is the new imperative, and critical in todays turbulent world â¢Organizations cannot survive long-term without innovation â¢Companies like Facebook are always investing in new ideas â¢Facebook's success can be attributed to the effectiveness of its innovative managers *INNOVATION SHOULD BE A PART OF PRODUCTS, PROCESSES, PEOPLE, AND VALUES*
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Management
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â¢Is the attainment of organizational goals in an effective and efficient manner through: -Planning -Organizing -Leading -Controlling (Part 1) and The attainment of organizational foals in effective and efficient manner (Part 2) â¢Managers get things done by coordinating and motivating other peoples â¢Managers get things done through the organization â¢Create right systems and environments â¢Organizations need good managers
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*Figure 1.1* pg 6 What do Managers do?
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*1. Set Objectives* â¢Establish goals for the group and decided what must be done to achieve them *2. Organize* ⢠Divide work into manageable activities and select people to accomplish tasks *3. Motivate and Communicate* â¢Create teamwork via, decisions on pay, promotions, etc, and through communication *4. Measure* â¢Set targets and standards; appraise performance *5. Develop People* ⢠Recognize the value of employees and develop this critical organizational asset
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*Figure 1.2* pg 7
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The Process of Management
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The 4 Management Functions
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â¢Managers perform a wide variety of activities that fall within 4 primary management functions: 1.Planning 2.Organizing 3.Leading 4. Controlling **Need to be able to define, place in order and identify each function
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The 4 Management Functions: Planning
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â¢Identifying/defining goals for future organizational performance and and deciding on the tasks and use of resources needed to attain them. â¢In other words, Managerial Planning defines where the organization wants to be in the future, and how to get there. â¢Set goals, and ways to attain them â¢Until you *PLAN* how your are going to do something- it's useless â¢FIRST STEP
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The 4 Management Functions: Organizing
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â¢Involves assigning tasks, grouping tasks into departments, delegating authority, and allocating resources across the organization / department â¢Assign responsibility for task accomplishment
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The 4 Management Functions: Leading
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â¢The use of influence to motivate employees to achieve organizational goals. â¢Leading means creating a shared cultural and values, communicating goals to people throughout the organization and infusing employees with the desire to perform at Top Level
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The 4 Management Functions: Controlling
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â¢Monitoring employees activities activities, determining whether the organization is on target towards its goals, and making corrections as necessary. â¢Managers must ensure that the organization is moving towards its goal â¢One trend is recent years id for companies to place less emphasis on top-down control and more emphasis on training employees to monitor and correct themselves. -regardless ultimately it is the managers responsibility
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Organization:
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â¢Is a society entity that is goal directed and deliberately structured â¢Social Entity- bring made up of two or more people â¢Goal Directed- designed to achieve some outcome, such as make a profit, win pay increases for members, meet spiritual needs, or provide social satisfaction. â¢Deliberately Structured- the tasks are divided and responsibility for their performance is assigned to organizational members. **This Definition applies to all organizations**
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Organizational *Effectiveness*
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â¢The degree to which the organization achieves a stated goal, or succeeds in accomplishing what it tries to do â¢following a plan to detail *Degree to which you accomplish a Task*
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Organizational *Efficiency*
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â¢Refers to the amount of resources used to achieve an organizational goal â¢It is based on how much raw material, money, and people are necessary for producing a given volume of output. â¢Can be calculated as the amount of resources used to produce a product or service. *The amount of resources you use to accomplish a task*
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Effectiveness VS Efficiency
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*I can't be efficient, until I am effective* â¢Effective- Following a plan to detail â¢Efficient- multitasking- not paying full attention to detail....but... got the job done **Can never be efficient first**
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Question: Degree to which you accomplish a task?
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⢠Effective
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Question: Which is more important, effectiveness or efficiency?
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â¢Effectiveness
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3 Types of Management Skills:
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â¢The degree of the skills may vary, but all managers must possess these skills 1. Conceptual Skills 2. Human Skills 3. Technical Skills â¢The application of management skills chance as managers move up the hierarchy
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*Figure 1.3* Pg 11
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Relationship of Skills to Management level **Study *Should be able to define and understand the relationship between management level and the amount of these skills a manager needs
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Types of Management Skills: Conceptual Skills
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⢠The cognitive ability to see the organization as a whole and the relationship among its parts, and how it fits into the industry, community, broader business and social environment â¢Understanding how everything needs to come together to complete a task Iron Standing â¢The ability to *Think Strategically* and identify, evaluate and solve complex problems. â¢Important trait for all managers particularly top level managers. **HIGH PAY*
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Types of Management Skills: Human Skills
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â¢The managers ability to work with and through other people and to work effectively as a group member â¢Demonstrated in the way a manger relates to other people, including the ability to motivate, facilitate, coordinate, lead, communicate, and resolve conflicts â¢Where how/to manage people and do a task â¢Organizations usually loose good people due to front-line bosses who fail to show respect and concern for employees â¢Increasingly important for managers of all levels â¢Mid-level skills
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Types of Management Skills: Technical Skills
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â¢The understanding of and proficiency in the performance of specific tasks â¢Includes mastery of the methods, techniques, and equipment involved in specific functions like engineering, manufacturing, finance. â¢Specialized knowledge, analytically ability and the competent use of tools and techniques to solve problems in that specific discipline â¢Particularly important at lower organizational levels â¢Many ppl get promoted to their first management job due to excellent technical skills â¢Hands on skills â¢Unique/Rare = more money $$ â¢Common skills = a lower pay â¢Technical skills are becoming more rare ex- working on cars
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Scale Ability
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â¢How quickly one can scale up in a company â¢Company doing well= More scale-ability
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*Figure 1.4* Pg 12
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Why Managers Fail
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Why Managers Fail
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1. Ineffective Communication Skills and Practices 81% 2. Poor Relationships/ Interpersonal skills 78% Interview EX. â¢Evaluate how/who will/wont fit in â¢how good one gets along with others EX. Shopping -Exclude sizes, styles, colors- just evaluate the person 1st-2nd interviews should focus on Evaluating that the interviewer has â¢good personal skills â¢gets along with other - 1-1 1/2 yrs with a company- employers are looking for people playing nice together
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*Figure 1.5* pg 14
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Management Levels in the Organizational Hierarchy **Study
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Management types: Verticle
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â¢Top Managers â¢Middle Managers â¢First-line Managers
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Vertical Management Type: Top Managers
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â¢Are the top of the hierarchy, and are responsible for the entire organization â¢Titles such as- President, chairperson, EXC. director, CEO, Vice president
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Vertical Management Type: Middle Managers
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â¢Work at middle levels of the organization, and are responsible for business units, and major departments â¢Titles such as, department head, division head, manager of quality control, director or research lab â¢responsible for implementing the overall strategies and policies defined by top managers â¢generally concerned with near future, rather than long-range planning EX. Project Managers
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Vertical Management Type: Project Manager
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â¢Responsible for a temporary work project that invilves the participation of people from various functions and levels of the organization-sometimes even outside
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Vertical Management Type: First-line Managers
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â¢Are directly responsible for the production of goods and services â¢They are the first or second level management â¢Titles such as- Supervisor, line manager, section chief, and office manager â¢primary concern is the application of rules and procedures to achieve efficient production provide technical assistance, and motivate subordinates â¢*Technical*
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Management Types: Horizontal
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â¢Functional Managers â¢General Managers
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Horizontal Management Type: Functional Managers
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â¢Responsible for departments that preform single function tasks / specific tasks - and have employees with similar training and skills â¢Departments include: Advertising, sales, finance, HR manufacturing and accounting -Line Managers- responsible for the manufacturing and marketing departments that make or sell the product of service -Staff Managers- in charge of departments such as finance, and human resources that support line departments
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Horizontal Management Type: General Managers
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â¢Are responsible for several departments that perform different functions â¢Widerange
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Making the Leap: Becoming a New Manager
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â¢Organizations often promote star performers to management ⢠Becoming a manager is a transitions -Move from being a DOER to a COORDINATOR â¢Many new managers expect more freedom to make changes' â¢Successful managers build teams and networks â¢Many make the transition "Trial by Fire"
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*Figure 1.6* pg a8
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Making the Leap from Ind. Performer to Manger
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Manager Category and roles (3): Informational
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â¢Describe the activities used to maintain and develop an information network. â¢These roles revolve around communication and the distribution of information both verbal and written *3 Roles:* ⢠*Monitor* - Seek and receive information, scan periodicals, and reports, maintain personal contacts. ⢠*Disseminator* - Forward information to other organization members; send memos and reports, make phone calls â¢*Spokesperson* - Transmit information to outsiders through speeches, reports, memos.
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Manger Categories (3)
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â¢Informational â¢Interpersonal â¢Decisional **A good manager must know they have the support and acceptance from the crew
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Manager Category and roles (3): Interpersonal
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â¢Pertain to relationships with others and are related to the human skills. These roles revolve around leading, acting as a liaison, and handling ceremonial and symbolic activities. *3 Roles* â¢*Figurehead*- Perform ceremonial and symbolic duties such as greeting visitors, singing legal documents â¢*Leader*- Direct and motivate subordinates; train, counsel, and communicate with subordinates â¢*Liaison*- Maintain information links both inside and outside organization; use email, phone calls, meetings
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Manager Category and roles (4): Decisional
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â¢Pertain to those events about which the manager must make a choice and take actions. â¢These roles require conceptual and human skills, and revolve around the decisions a manager must make. *4 Roles* â¢*Entrepreneur*- Indicate improvement projects; identify new ideas, delegate idea responsibility to others â¢*Disturbance Handler*- Take corrective action during disputes or crises; resolve conflicts among subordinates; adapt to environmental crises â¢*Resource Allocator*- Decide who gets resources; schedule budget, set priorities â¢*Negotiator*- Represents department during negotiation of union contracts, sales, purchases, budgets; represents departmental interests