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29 Cards in this Set
- Front
- Back
Organizations |
Collections of people who work together and coordinate their actions to achieve a wide variety of goals or desired future outcomes. |
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Managment |
The planning, organizing, leading and controlling of human and other resources to achieve organizational goals efficiently and effectively. |
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Organizational Performance |
A measure of how efficiently and effectively a manager uses resources to satisfy customers and achieve organizational goals
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efficiency |
A measure of how well or how productively resources are used to achieve a goal. |
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effectiveness |
A measure of the appropriateness of the goals an organization is pursuing and of the degree to which the organization achieves those goals. |
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4 essential managerial tasks: |
1) planning 2) organizing 3) leading 4) controlling |
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Planning |
Identifying and selecting appropriate goals; one of the four principal tasks of management.
3 steps involved in planning: 1)decide which goals the organization will pursue 2) decide what strategies to adopt to attain those goals 3) decide how to allocate organizational resources to pursue the strategies that attain those goals.
Outcome of planning: A strategy. |
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strategy |
The outcome of planning. A cluster of decisions about what goals to pursue, what actions to take, and how to use resources to achieve goals. |
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Organizing |
structuring working relationships in a way that allows organizational members to work together to achieve organizational goals; one of the four principal tasks of management.
The outcome is the creation of an Organizational Structure. |
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Organizational Structure |
A formal system of task and reporting relationships that coordinates and motivates organizational members so that they work together to achieve organisational goals. |
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Leading |
Articulating a clear vision and energizing and enabling organizational members so that they understand the part they play in achieving organizational goals; one of the four principal tasks of management.
Outcome: Highly motivated and committed workforce |
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Controlling |
Evaluating how well an organization is achieving its goals and taking action to maintain or improve performance; one of the four principal tasks of management.
Outcome: Ability to measure performance accurately and regulate organizational efficiency and effectiveness. |
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5 major challenges for managers in today's world: |
1) building a competitive advantage 2) maintaining ethical standards 3) managing a diverse workforce 4) utilizing new information systems and technologies 5) practicing global crisis management. |
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3 levels of managers: |
1) first-line managers 2) middle managers 2) top managers |
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first-line manager |
* A manager who is responsible for the daily supervision of non managerial employees. * at the base of the management hierarchy * often called supervisors * work in all departments or functions. |
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middle manager |
A manager who supervises first-line managers and is responsible for finding the best way to use resources to achieve organizational goals. |
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top manager |
* responsible for performance of all departments * have cross-departmental responsibility * establish goals, decide how departments should interact, monitor performance of middle managers. |
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Education and experience help managers develop 3 types of skills: |
1) Conceptual 2) Human 3) Technical (job specific) |
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Conceptual skills |
The ability to analyze and diagnose a situation and to distinguish between cause and effect. |
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Human Skills |
The ability to understand, alter, lead and control the behavior of other individuals or groups. |
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Technical Skills |
The job-specific knowledge and techniques required to perform an organizational role. |
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Core Competency |
The specific set of departmental skills, knowledge, and experience that allows one organization to outperform another.
Departmental skills that create a core competency give an organization a competitive advantage. |
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Restructuring |
Simplifying, shrinking or downsizing and organization's operations to lower operating costs. |
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Outsourcing |
Contracting with another company to have it perform a work activity that the organization previously performed itself. |
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Empowerment |
A management technique that involves giving employees more authority and responsibility over the way the perform their work activities. |
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Self-managed Team |
A group of employees who assume responsibility for organizing, controlling, and supervising their own activities and monitoring the quality of the goods and services they provide. |
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Competitive Advantage |
The ability of one organization to outperform other organizations because it produces desired goods or services more efficiently and effectively then its competitors. |
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4 building blocks of competitive advantage: |
superior * quality * efficiency * speed, flexibility & innovation * responsiveness to customers |
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3 types of managerial roles: |
1) Decisional 2) Interpersonal 3) Informational |