1ST QUARTER FLASHCARDS

Question 1

It is the process of planning, organizing, leading, and controlling the activities of the organization effectively and efficiently to achieve organizational goals.

Answer 1

Management

Question 2

Why is management a science?

Answer 2

Because it contains a body of knowledge that becomes the organizational framework of many companies.

Question 3

Why is management an art?

Answer 3

Because of the creativity applied in management strategies, the innovations used and the reliance on intuition.

Question 4

Type of manager that focuses on providing solutions to every problem. This manager also concentrates on achieving the company’s goal.

Answer 4

Problem Solving Manager

Question 5

Type of manager that threatens employees to work toward a goal (uses iron hand).

Answer 5

Pitchfork Manager

Question 6

Type of manager that thinks only of himself or herself (not a team player).

Answer 6

Presumptuous Manager

Question 7

Type of manager that is open to change and personal growth. However, he/she can be very mechanical and may lack interpersonal skills.

Answer 7

Perfect Manager

Question 8

Type of manager that wants to please everyone and makes the team members happy.

Answer 8

Passive Manager

Question 9

The downside of being a crowd-pleaser of a passive manager

Answer 9

Being a crowd-pleaser becomes a hindrance because of his/her lack of drive and assertiveness to manage the team (avoid confrontation).

Question 10

Type of manager that possesses the good qualities of the other types of managers.

Answer 10

Proactive Manager

Question 11

Every manager should strive to become a _______ manager who embodies the true traits of an outstanding manager.

Answer 11

proactive

Question 12

The facility to identify and resolve problems for the benefit of an organization and its members.

Answer 12

Conceptual/Decision Skills

Question 12

The aptitude to perform specialized tasks involving particular methods or processes. (Management Skill)

Answer 12

Technical Skills

Question 13

The talent to lead, motivate, and communicate effectively with others is often identified with top-level managers or candidates for executive positions.

Answer 13

Human/Interpersonal or People Skills

Question 14

Top-Level Management Function, Roles, and Skills

Answer 14

Function: Planning
Roles: Interpersonal
Skills: Conceptual

Question 14

Middle-Level Management Function, Roles, and Skills

Answer 14

Function: Organizing
Roles: Informational
Skills: Human

Question 15

Frontline Management Function, Roles, and Skills

Answer 15

Function: Controlling
Roles: Decisional
Skills: Technical

Question 16

It is one of the most structured and used planning methods to evaluate a business venture.

Answer 16

SWOT Analysis

Question 17

Other term for SWOT Analysis

Answer 17

SWOT Matrix

Question 18

Presence or absence of internal resources give rise to ______ & _______.

Answer 18

Strengths & Weaknesses

Question 19

_________ (suppliers, rivalry, and buyers) & _______ (new entrants, rivalry, and substitutes) is the external and competitive environment.

Answer 19

Opportunities & Threats

Question 20

These are things that your organization does particularly well, or in a way that distinguishes you from your competitors.

Answer 20

Strengths

Question 21

Give one example of Strengths

Answer 21

motivation of your staff, access to certain materials, or a strong set of manufacturing processes.

Question 22

These are inherent features of your organization that can be improved or practices that can be avoided

Answer 22

Weaknesses

Question 23

Give one example of Weaknesses

Answer 23

lack of people, resources, systems, and unclear procedures.

Question 24

These are openings or chances for something positive to happen.

Answer 24

Opportunities

Question 25

Give one example of Opportunities

Answer 25

developed market, few competitors, demand for the product/service, and media coverage

Question 26

These include anything that can negatively affect your business from the outside.

Answer 26

Threats

Question 27

Give one example of Threats

Answer 27

supply-chain problems, shifts in market requirements, a shortage of recruits, and emerging competitors

Question 28

A process that involves the setting of the organization’s goals, establishing strategies for accomplishing those goals and developing plans of action or means that managers intend to use to achieve organizational goals.

Answer 28

Planning

Question 29

3 importance of planning

Answer 29

It involves the identification of the company's mission and objective, bridges the gap from where we are to where we want to go, and determines the resources that can be utilized.

Question 30

These are communication device that represents an extreme simplification of complex programs and projects.

Answer 30

Action Plan

Question 31

5 Action Plan components

Answer 31

Objectives, Tasks, Time Frame, Success Indicators, and Resources

Question 32

The specific, measurable list of goals that companies hope to maintain or attain.; should follow the SMART criteria

Answer 32

Objectives (List of Goals)

Question 33

Specific actions to do in order to achieve the goals; should also follow the SMART criteria.

Answer 33

Tasks (What to do to achieve goals)

Question 34

Criteria/s on how the objective will be indicated as successful.

Answer 34

Success Indicators (How will you identify the business)

Question 35

Duration of the tasks ; by when the tasks should be completed.

Answer 35

Time Frame

Question 36

Components to use/ implement to complete the tasks.

Answer 36

Resources (What or who can help complete the tasks)