Chapter 5/6

Question 0

Planning

Answer 0

Management process of determining what an org. Needs and how to get it done.

Question 1

4 management functions:

Answer 1

Planning

Organizing

Leading

Controlling

Question 2

Organizing:

Answer 2

Management process of determining how to best arrange an organizations resources and activities into a coherent structure.

Question 3

Leading:

Answer 3

Guiding/motivating employees to meet an organizations objectives

Question 4

Controlling:

Answer 4

Monitoring an organizations performance to ensure that it is meeting its goals

Question 5

Top manager:

Answer 5

Responsible for firms overall performance and effectiveness

Question 6

Middle manager

Answer 6

Responsible for implementing the strategies and working toward goals set by top managers

Question 7

First-line manager:

Answer 7

Responsible for supervising work of employees

Question 8

Areas of management

Answer 8

Human resources

Operations

Marketing

Information

Financial

Other?

Question 9

Human Resource management:

Answer 9

Hire/train employees, evaluate performance, determine compensation, etc.

Question 10

Operations management:

Answer 10

Responsible for production, inventory and quality control.

Question 11

Marketing managers:

Answer 11

Responsible for getting products from producers to consumers. Encompasses pricing, promotion, distribution etc

Question 12

Information management:

Answer 12

Design and implement systems to gather, organize and distribute information

Question 13

Financial managers:

Answer 13

Plan/oversee accounting functions and financial resources.

Question 14

Roles in management

Answer 14

Interpersonal

Informational

Decisional

Question 15

Decisional role of management

Answer 15

Category of managerial roles including entrepreneur, disturbance handler, resource allocator, and negotiator

Question 16

Informational role of management

Answer 16

Category of management including monitor, disseminator, and spokesperson

Question 17

Interpersonal role of management

Answer 17

Category of managerial roles that includes figurehead, leader, and liaison

Question 18

Management skills

Answer 18

Technical

Human resource

Conceptual

Decision-making

Time management

Question 19

Technical skills:

Answer 19

Needed to perform specialized tasks

Question 20

Human resource skills

Answer 20

Understanding and getting along with people

Question 21

Conceptual skills

Answer 21

Ability to think in the abstract, diagnose and analyze different situations and be able to see beyond the present situation

Question 22

Decision making skills

Answer 22

Defining problems and selecting best course of action.

Question 23

Time management skills

Answer 23

Skills associated with the productive use of time

Question 24

Mission statement:

Answer 24

Organization's statement of how it will achieve its purpose in the environment in which it conducts business.

Question 25

Long term goal

Answer 25

Goal that is typically 5+ years in the future.

Question 26

Intermediate goal

Answer 26

Goal set for 1-5 years in the future.

Question 27

Short term goal

Answer 27

Goal set for less than a year. The near future.

Question 28

Corporate strategy

Answer 28

Strategy for determining the firms overall attitude toward growth and the way it will manage its businesses or product lines.

Question 29

Business (competitive) strategy:

Answer 29

Strategy, at the business-unit or product line level, focusing on improving a firms competitive position.

Question 30

Functional strategy

Answer 30

Strategy by which managers in specific areas decide how best to achieve corporate goals through productivity.

Question 31

SWOT analysis

Answer 31

Identification and analysis of an organza toons strengths and weaknesses and environmental opportunities and threats as part of strategy formulation.

Question 32

Specialization:

Answer 32

Process of identifying the specific jobs that need to be done and designating people to perform them.

Question 33

Departmentalization

Answer 33

Process of grouping jobs into logical units.

Question 34

Profit center:

Answer 34

Separate company unit responsible for its own costs and profits

Question 35

Functional Departmentalization

Answer 35

Deciding an organization to groups functions of activities.

Question 36

Product departmentalization

Answer 36

Dividing an organization according to specific products or services being created.

Question 37

Process Departmentalization

Answer 37

Dividing an organization according to production processes used to create a good or service.

Question 38

Customer Departmentalization

Answer 38

Dividing an organization to offer products and meet needs for identifiable customer groups

Question 39

Geographic Departmentalization

Answer 39

Dividing an organization according to the areas of the country it the world served by a business

Question 40

Centralized organization:

Answer 40

Organization in which most decision masking authority is held by upper level management.

Question 41

Decentralized organization

Answer 41

Organization in which a great deal of decision making authority is delegated to levels of management at points below the top.

Question 42

Flat organizational structure:

Answer 42

Characteristic of decentralized companies with relatively few layers of management.

Question 43

Tall organizational structure:

Answer 43

Characteristic of centralized companies with multiple layers of management.

Question 44

Span of control

Answer 44

Number of people supervised by one manager

Question 45

Delegation process and definition.

Answer 45

Def: process through which a manager allocates work to subordinates 1. Assign responsibility 2. grant authority to make decisions to complete task 3. Create accountability, obligation for successful completion of task

Question 46

Responsibilty

Answer 46

Duty to perform an assigned task.

Question 47

Authority

Answer 47

Power to make the decisions necessary to complete a task

Question 48

Accountability

Answer 48

Obligation employees have to their manager for the successful completion of an assigned task

Question 49

Line authority:

Answer 49

Organizational structure in which authority flows in a direct chain of command from the top of the company to the bottom

Question 50

Line department:

Answer 50

Department directly linked to the production and sales of a specific product. (Solid line)

Question 51

Staff authority:

Answer 51

Authority based on expertise that usually involves counseling and advising line mangers. (Dotted line)

Question 52

Functional structure:

Answer 52

Organizational structure in which authority is determined by the relationships between group functions and activities.

Question 53

Divisional Structure

Answer 53

Organizational structure in which corporate divisions operate as autonomous businesses under the larger corporate umbrella.

Question 54

Division

Answer 54

Department that resembles a separate business in that it produces and markets its own products.

Question 55

Matrix Structure:

Answer 55

Organizational structure created by superimposing one form of structure onto another. (Combing)

Question 56

Team organization:

Answer 56

Relies almost exclusively on project-type teams with little to no underlying hierarchy.

Question 57

Virtual organization

Answer 57

Little to no formal structure. Handful of permanent staff. Brings in temporary workers, lease facilities and outsource services due to changing situations

Question 58

Learning organization

Answer 58

Integrate continuous improvement with continuous employee learning and development. Constant upgrading

Question 59

Informal organization

Answer 59

Network, unrelated to the firms formal authority structure, of everyday social interactions among company employees.

Question 60

Grapevine

Answer 60

Informal communication network that runs through an organization

Question 61

Intrapreneuring

Answer 61

Process of creating and maintaining the innovation and flexibility within the confines of a large organization