Chapter 1: Introduction to Management

Question 1

Why learn about management?

Answer 1

• Develops conceptual skills
• Helps you understand your managers
• Improves your understanding of the world
• Helps enhance organizational performance
• Fosters self-understanding

Question 2

Expertise in a particular area like marketing, accounting, finance, or human resources

Answer 2

Technical skills

Question 3

Abilities in getting along with people, leadership, helping others be motivated, communication, and conflict resolution

Answer 3

Social skills

Question 4

Ability to think about complex and broad organization issues

Answer 4

Conceptual skills

Question 5

Who manages the work of organizational members that are involved in the actual production or creation of an organization’s products or services?

Answer 5

First-line supervisors

Question 6

Who manages the work of first-line managers and others

Answer 6

Middle managers

Question 7

Who have organization-wide managerial responsibilities, like CEOs, VPs, and Board Chairs

Answer 7

Top managers

Question 8

What a manager does may depend on what?

Answer 8

Size of the organzation, kind of technology it uses, its location, culture

Question 9

Offering goods and services that are valued by society

Answer 9

Value creation

Question 10

Acquiring part of the financial benefits associated with the value being created

Answer 10

Value capture

Question 11

Who said management “deals with people, their values, and their personal development… management is deeply involved in moral concerns”

Answer 11

Peter Drucker

Question 12

Process of planning, organizing, leading and controlling human and other organizational resources

Answer 12

Management

Question 13

Effective achievement of organizational goals

Answer 13

Management

Question 14

Four generic functions of management

Answer 14

Planning, organizing, leading, and controlling

Question 15

Three types of “effective” management

Answer 15

FBL, TBL, and SET

Question 16

Who researched and made the four functions of management?

Answer 16

Henri Fayol

Question 17

Goal-directed, deliberately-structured group of people working together to provide specific goods and services

Answer 17

Organization

Question 18

Involves deciding what goods and services an organization will provide

Answer 18

Planning

Question 19

Arranging necessary resources

Answer 19

Organizing

Question 20

Helping people enable this to happen

Answer 20

Leading

Question 21

Overseeing the whole process

Answer 21

Controlling

Question 22

What is the framework of Fayol’s four functions of management?

Answer 22

Conceptual framework

Question 23

Who made the ten roles of management?

Answer 23

Henry Mintzberg

Question 24

What are the three categories of management? (Midzberg)

Answer 24

Interpersonal roles, decisional roles, informational roles

Question 25

Deciding on an organization's goals and strategies, and identifying the appropriate organizational resources that are required to achieve them

Answer 25

Planning

Question 26

Ensuring tasks have been assigned and a structure of organizational relationships created that facilitates meeting organizational goals

Answer 26

Organizing

Question 27

Relating with other members in the organizational unit so that their work efforts contribute to the achievement of goals

Answer 27

Leading

Question 28

Ensuring that actions of organizational members are consistent with its values and standards

Answer 28

Controlling

Question 29

Proactively and voluntarily initiating, designing, or encouraging change and innovation

Answer 29

Entrepreneur role

Question 30

Making incremental changes related to plans and resources

Answer 30

Negotiator role

Question 31

Transmitting to members of one's organizational unit information that has been gathered from internal or external sources

Answer 31

Disseminator role

Question 32

Distributing all types of resources (time, funds, equipment, human resources, and so on)

Answer 32

Resource allocator

Question 33

Building and maintaining a good structure of information contacts beyond the boundaries of a manager's specific work unit

Answer 33

Liaison

Question 34

Communicating with subordinates, including motivation and coaching

Answer 34

Leader

Question 35

Transmitting decisions and other information up, down, and across an organization's hierarchy, and/or to the general public

Answer 35

Spokesperson role

Question 36

Representing an organizational unit in a symbolic or ceremonial capacity

Answer 36

Figurehead role

Question 37

Acquiring internal and external information about issues that can affect the organization

Answer 37

Monitor role

Question 38

Taking corrective action when things aren't going as planned

Answer 38

Crisis hnadler role

Question 39

Describes the reporting relationships and authority structure of the organization

Answer 39

Organization chart

Question 40

Parties that have an interest in what an organization does because they contribute resources to the organization and/or are affected by its operations

Answer 40

Stakeholders

Question 41

Refers to doing things right

Answer 41

Efficiency

Question 42

Doing the right things

Answer 42

Effectiveness

Question 43

Characterized by its emphasis on maximizing an organization's financial well-being, which is typically achieved by appealing to individual self-interests

Answer 43

FBL

Question 44

The good of the community is assured when every individual is permitted to pursue their own self-interested goals

Answer 44

Invisible hand

Question 45

Focuses on optimizing an action's rightness (and limiting its wrongness) as measured by its effect on net overall happiness outcome for everyone included

Answer 45

Consequential utilitarianism

Question 46

Positive or negative effects that organizations have on society but which are not reflected in their financial statements

Answer 46

Externalities

Question 47

Characterized by its emphasis on enhancing the organization's financial well-being while simultaneously reducing its negative socio-ecological externalities

Answer 47

TBL

Question 48

Meeting the needs of the present generation without compromising the ability of future generations to meet their needs

Answer 48

Sustainability

Question 49

Justification, often documented, that shows how a proposed new organizational initiative will enhance an organization's financial bottom-line

Answer 49

Business case

Question 50

Moral point-of-view which suggests that ethical management seeks to improve an organization's financial well-being, especially via reducing negative social and ecological externalities

Answer 50

Enlightened consequential utilitarian

Question 51

Characterized by its emphasis on enhancing social and ecological well-being while maintaining financial viability

Answer 51

SET

Question 52

Focuses on happiness is achieved by practicing virtues in community

Answer 52

Virtue theory

Question 53

Evident when managers make decisions that are deliberately aware of, and informed by, their larger socio-ecological setting

Answer 53

Wisdom

Question 54

Evident when managers ensure that all stakeholders associated with a product or service receive their due and are treated fairly

Answer 54

Justice

Question 55

Evident when managers temper their own narrow self interests

Answer 55

Self control

Question 56

Evident when managers are willing to address shortcoming of dominant socio-economic structures and systems

Answer 56

Courage

Question 57

Refers to a specified constellation of concepts and theory that collectively identifies what effective management means and how it is practiced

Answer 57

Ideal-type of management

Question 58

Learning what managers do

Answer 58

Training

Question 59

Understanding why managers do what they do so that students can adapt appropriately for the conditions they will face in the future

Answer 59

Education

Question 60

Someone who conceives new or improved goods or services that exhibit the initiative to develop that idea by making plans and mobilizing the necessary resources to convert the idea into reality

Answer 60

Entrepreneur

Question 61

Why people become entrepreneurs

Answer 61

- desire for better work/autonomy - to make the world a better place - to make money

Question 62

Entrepreneurial organizations created intentionally and specifically to pursue a social or environmental well-being mission

Answer 62

Social enterprises

Question 63

3 characteristics helpful for distinguishing entrepreneurs

Answer 63

Scope of ambition Propensity Desire to work within existing organizations

Question 64

Distinguished by strong and clear intention to grow a new organization into a large and influential force in their industry

Answer 64

Growth-oriented entrepreneurs

Question 65

Develop successful and viable organizations, but not large ones

Answer 65

Micropreneurs

Question 66

Involves a franchisor selling a franchisee a complete package to set up an organization

Answer 66

Franchising

Question 67

Propensity to start multiple organizations

Answer 67

Multiplicity

Question 68

Start viable organization in order to manage it for the rest of their career

Answer 68

Monopreneurs

Question 69

Start many organizations

Answer 69

Serial entrepreneurs

Question 70

Create new organization or stay within existing

Answer 70

Launch point

Question 71

Starts an entirely new organization to pursue a new product or service or idea

Answer 71

Classic entrepreneur

Question 72

Exhibit extrapreneurship within existing organization

Answer 72

Intrapreneurs

Question 73

Identifies an entrepreneurial opportunity and describes a detail management plan for acting on that opportunity

Answer 73

Entrepreneurial Start-Up Plan (ESUP_