1 1 Management Today

Question 0

What is management?

Answer 0

The planning, organizing, leading and controlling of human and other resources to achieve organizational goals efficiently and effectively

Question 1

What is an organization?

Answer 1

Collections of people who work together and coordinate their actions to achieve a wide variety of goals and desired future outcomes

Question 2

What is organizational performance?

Answer 2

It’s a measure of how efficiently and effectively managers use available resources to satisfy customers and achieve organizational goals

Question 3

Efficiency

Answer 3

A measure of how productively resources are used to achieve goals

Question 4

Effectiveness

Answer 4

A measure of the appropriateness of the goals an organization is pursuing and of the degree to which the organization achieves those goals

Question 5

Effective manager

Answer 5

Chooses the right organizational goals and have the skills to utilize resources efficiently

Question 6

Why study management?

Answer 6

1 Is of central importance to understanding how society creates wealth and affluence for its citizens
2 Understand mgr and coworkers, solve confluct, achieve goals and increase perfirmance
3 Well paid, interesting and satisfying career

Question 7

Essential mgr tasks

Answer 7

Planning
Organizing
Leading
Controlling

Question 8

planning

Answer 8

Choise appropiate goals and courses of action to achieve them

Question 9

Organizing

Answer 9

establish tasks and authority relationships that allow people to work together to achieve org goals

Question 10

Leading

Answer 10

Motivate, coordinate and energize individuals and groups to work together and achieve org goals

Question 11

Controlling

Answer 11

establish accurate measuring and monitoring systems to evaluate how well the company has achieved those goals

Question 12

Henri Fayol book

Answer 12

General and Industrial managment

Question 13

3 steps in planning

Answer 13

1 Choose goals
2 Decide strategy to pursue those goals
3 Decide how to allocate resources to pursue strategies

Question 14

Strategy

Answer 14

Cluster of decisions about what goals to purse, which actions to take and how to use resources to achieve goals

Question 15

Organizing

Answer 15

Structuring working relationships so org members work together to achieve org goals. Ex department job specidic tasks

Question 16

Organizational structure

Answer 16

formal system of task and reporting relationships that coordinates and motivates members to work together to achieve goals

Question 17

Leading

Answer 17

Articulate clear vision and energizing and enabling org members so they understand their part in org goals.

Question 18

leadership

Answer 18

mgrs using power, personality, influence, persuasion and communication skills to coordinate groups so efforts are in harmony

Question 19

controlling

Answer 19

evaluating how well an org is achieving its goals and taking action to maintain or improve performance

Question 20

department

Answer 20

Group of people who work together and possess similar skills, knowledge, tooks or techniques to perfirm their jobs

Question 21

3 levels of managers

Answer 21

First line
middle
top

Question 22

first line managers

Answer 22

responsible of daily supervision of noanagerial employeed

Question 23

middle managers

Answer 23

Supervises first line managers and responsible for finding the best way to use resources to achieve organizational roles. Major part of their role develope, fine tune skills and know how

Question 24

top manager

Answer 24

establishes org goals, decides how departments should interact, and monitors perfirmance of middle managers. responsible fir sucess and failure of an org.

Question 25

3 kinds of managerial skills

Answer 25

conceptual
human
technical
job specific

Question 26

Conceptual skills

Answer 26

ability to analyze and diagnose a situation and to distinguish between cause and effect

Question 27

Human skills

Answer 27

The ability to understand alter, lead, and control the behavior of other individuals and groups

Question 28

Technical skills

Answer 28

The job specific knowledge and techniques required to perform an organizational role

Question 29

Core competency

Answer 29

The specific set of departmentsl skills, knowledge, and experience that allows one organization to outperform another. It gives a competitive advantage.

Question 30

Recent changes in management

Answer 30

Two mayor factors are global competition and advanced in new information technology

Question 31

Restructuring

Answer 31

Downsizing an organization by eliminating jobs

Question 32

Outsourcing

Answer 32

Contracting with another company to have it perform an activity the org performed itself

Question 33

Empowerment

Answer 33

The expansion of employee’s knowledge tasks, and decision making responsibilities.

Question 34

Self managed teams

Answer 34

Group of employees who assume responsibility for organizinf, controlling, and supervising their owb activities and monitoring the quality of the goods and services they provide

Question 35

5 major challenges for mgrs in today’s world

Answer 35

Building a competitive advantage
Maintaining ethical standards
managing a dicerse workforce
Utilizing new IT & technologies
Practicong global crisis management

Question 36

Competitive advantage

Answer 36

Ability of one org to outperform other org because it produces desired goods or services more efficiently and effectively than they do

Question 37

4 building blocks of competitive advantage

Answer 37

efficiency
quality
speed, flexibility and innovation
responsivrness to customers

Question 38

agile competitor

Answer 38

Companies that have speed and flexibility. Their managers have superior planning and organizing speeds

Question 39

Innovation

Answer 39

Process of creating new or improved goods and services or developing better wats to produce or provide them

Question 40

One of the most difficult managerial tasks

Answer 40

Manage innovation and work setting that encourages risk taking

Question 41

Turnaround management

Answer 41

The creation of a new vision for a struggling company based on a new approach to planning and organizing to make better use of a company’s resources to allow it to survive and prosper

Question 42

Maintaining ethical and social responsible standards

Answer 42

Biz pressure may push mgrs to cross the line putting the company at risk

Question 43

Diverse workforce

Answer 43

Helps promote performance in the long run. Gets diversity of ideas and improves decision making

Question 44

IT & eCommerce

Answer 44

Provides employees and self managed teams access to information and allows virtual interaction globally. Global coordination improves quality and increases pace of innovation

Question 45

3 causes of global crisis

Answer 45

Natural causes
Man made
Geopolitical conflicts and terrorism

Question 46

Man made global crises

Answer 46

Global warming, pollution, natural habitat destruction

Question 47

4 important mgr actions during crises

Answer 47

1 create teams for rapid decision making and communications
2 estanlish chain of command and reporting relatoons for fast response
3 Right recruting for these type of teams
4 negotiation strategies when conflucting interests arise