The process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources.
A management function that includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives.
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 and objectives.
Creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organization's goals and objectives.
A management function that involves establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not.
An encompassing explanation of why the organization exists and where it's trying to head.
An outline of the fundamental purposes of an organization.
The broad, long-term accomplishments an organization wishes to attain.
Specific, short-term statements detailing how to achieve the organization's goals.
A planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats.
The process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve these goals.
Broad guidelines for action.
Determine the best way to use resources.
The process of developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done.
The process of setting work standards and schedules necessary to implement the company's tactical objectives.
The process of preparing alternative courses of action that may be used if the primary plans don't achieve the organization's objectives.
A part of contingency planning that anticipates sudden changes in the environment.
The heart of all management functions that involves choosing among two or more alternatives.
Rational Decision-Making Model
1. Define the situation.
2. Describe and collect needed information.
3. Develop alternatives.
4. Develop agreement among those involved.
5. Decide which alternative is best.
6. Do what is indicated (begin implementation).
7. Determine whether the decision was a good one, and follow up.
The process of solving the everyday problems that occur. Problem solving is less formal than decision making and usually calls for quicker action.
Two or more workers assigned to solve a specific problem.
Coming up with as many solutions to a problem as possible in a short period of time with no censoring of ideas.
Listing all the pluses for a solution in one column, all the minuses in another, and the implications in a third column.
A visual device that shows relationships among people and divides the organization's work; it shows who reports to whom.
Highest level of management, consisting of the president and other key company executives who develop strategic plans.
Chief Executive Officer (CEO)
Responsible for introducing change into an organization.
Chief Operating Officer (COO)
Responsible for putting the changes introduced by the CEO into effect. Tasks include structuring work, controlling operations, and rewarding people to ensure that everyone strives to carry out the leader's vision.
Chief Financial Officer (CFO)
Responsible for obtaining funds, planning budgets, collecting funds, and so on.
Chief Information Officer/Chief Knowledge Officer (CIO/CKO)
Responsible for getting the right information to other managers so they can make the correct decisions.
The level of management that includes general managers, division managers, and branch and plant managers who are responsible for tactical planning and controlling.
Managers who are directly responsible for supervising workers and evaluating their daily performance. Also known as first-line managers/supervisors.
Skills that involve the ability to perform tasks in a specific discipline or department.
Human Relations Skills
Skills that involve communication and motivation; they enable managers to work through and with people.
Skills that involve the ability to picture the organization as a whole and the relationship among its various parts.
First-Line Managers vs. Top Managers
First Line Managers - spend most of their time on technical skills and human relations tasks
Top Managers - spend most of their time on human relations and conceptual tasks
A management function that includes hiring, motivating, and retaining the best people available to accomplish the company's objectives.
Communicating a vision and rallying others around that vision, establishing corporate values, promote corporate ethics, embrace change, stress accountability and responsibility.
The presentation of a company's facts and figures in a way that is clear and apparent to all stakeholders.
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.
Leadership style that involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives; most successful form of leadership.
Telling employees what to do to meet the goals and objectives of the organization. Involves giving assignments, explaining routines, clarifying policies, and providing feedback on performance.
Giving employees the authority to make a decision without consulting a manager, and the responsibility to respond quickly to customer requests.
Giving workers the education and tools they need to make decisions.
Finding the right information, keeping the information in a readily accessible place, and making the information known to everyone in the firm.
Steps of Controlling
1. Establishing clear performance standards.
2. Monitoring and recording actual performance or results.
3. Comparing results against plans and standards.
4. Communicating results and deviations to the appropriate employees.
5. Taking corrective action when needed and providing positive feedback for work well done.
Dealers, who buy products to sell to others and ultimate customers (or end users), who buy products for their own personal use.
Individuals and units within the firm that receive services from other individuals or units.
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