Ch. 7 Management & Leadership
Commerce 1800 with Kemp at University of Virginia
About this deck
By: Alexandra Rodriguez
Textbook:
Understanding Business
Created: 2010-10-24
Size: 34 flashcards
Views: 39
Textbook:
Understanding BusinessCreated: 2010-10-24
Size: 34 flashcards
Views: 39
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Management
is the process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources.
Planning
a management function that includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives.
Organizing
a management function that includes designing the structure of the organization and creating conditions and systems in which everyone and everything works together to achieve the organization's goals & objectives.
Leading
creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organization's goals and objectives.
Controlling
establishes clear standards to determine whether an organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not.
Vision
an encompassing explanation of why the organization exists and where it's trying to head.
Mission statement
an outline of the fundamental purposes of an organization.
Goals
the broad, long-term accomplishments an organization wishes to attain.
Objectives
specific, short-term statements detailing how to achieve the organization's goals.
SWOT analysis
a planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats.
Strategic planning
is done by top management and determines the major goals of the organization and the policies, procedures, strategies, and resources it will need to achieve them.
Tactical planning
the process of developing detailed, short-term statements about what is to be done, who is to do it, and how.
Operational planning
the process of setting work standards and schedules necessary to implement the company's tactical objectives.
Contingency planning
the process of preparing alternative courses of action the firm can use if its primary plans don't work out.
Decision making
choosing among two or more alternatives.
Problem solving
the process of solving everyday problems that occur. Problem solving is less formal than decision making and usually calls for quicker action.
Brainstorming
coming up with as many solutions to a problem as possible in a short period of time with no censoring of ideas.
PMI
listing all the pluses for a solution in one column, all the minuses in another, and the implications in a third column.
Organization chart
a visual device that shows relationships among people and divides the organization's work; it shows who reports to whom.
Top management
the highest level, consists of the president and other key company executives who develop strategic plans.
Middle management
includes general managers, division managers, and branch and plant managers (in colleges, deans and department heads) who are responsible for tactical planning and controlling.
Supervisory management
managers who are directly responsible for supervising workers and evaluating their daily performance.
Technical skills
skills that involve the ability to perform tasks in a specific discipline or department.
Human relation skills
skills that involve communication and motivation; they enable managers to work through and with people.
Conceptual skills
skills that involve the ability to picture the organization as a whole and the relationship among its various parts.
Staffing
a management function that includes hiring, motivating, and retaining the best people available to accomplish the company's objectives.
Transparency
the presentation of a company's facts and figures in a way that is clear and apparent to all stakeholders.
Autocratic leadership
leadership style that involves making managerial decisions without consulting others.
Participative (democratic) leadership
leadership style that consists of managers and employees working together to make decisions.
Free-rein leadership
involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives.
Enabling
giving workers the education and tools they need to make decisions.
Knowledge management
finding the right information, keeping the information in a readily accessible place, and making the information known to everyone in the firm.
External customers
dealers, who buy products to sell to others, and ultimate customers (or end users), who buy products for their own personal use.
Internal customers
individuals and units within the firm that receive services from other individuals or units.
About this deck
By: Alexandra Rodriguez
Textbook: Understanding Business
Created: 2010-10-24
Size: 34 flashcards
Views: 39
Textbook:
Understanding BusinessCreated: 2010-10-24
Size: 34 flashcards
Views: 39
About StudyBlue
STUDYBLUE makes things that make you better at school.
Things like online flashcards with photos and audio.
Things like personalized quizzes and friendly reminders about when (and what) to study next.
Think of it as a digital backpack™: access to all of your study materials online and on your phone.
STUDYBLUE exists to make studying efficient and effective for every student, for free. Join us.
“I have used this website for three exams, and I see a huge difference in my test results.”
Naj
Naj