Chapter 8: Management And Leadership Flashcards
Resources
General term that incorporates Human Resources, natural resources, and financial resources
Managers need to be
Skilled communicators, team player, organizer, cordinstor, leader
Management
Process used to accomplish organized 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 system in which everyone and everything work together to achieve the organizations goal and objectives
Leading
Creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organizations goals and objectives
Controlling
A management function that involves establishing clear standards to determine whether or not an organization is progressing towards its goals and objectives. Rewarding people for doing a good job, and taking corrective action if they are not
Vision
Explanation of why the company exists and where it’s trying to get to
Values
Set of fundamental beliefs that guide a business in the decisions it makes
Mission statement
Outline of the fundemental purposes of an organization
Goals
Broad, long term accomplishments an organization wishes to attain
Objectives
Specific, measurable, short term statements detailing how to achieve the goal
SWOT analysis
Strengths
Weaknesses
Opportunities
Threats
Strategic planning
Process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals
Tactical planning
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
