chapter 7

Question 1

four functions of management

Answer 1

1.planning
2.organizing
3.leading
4.controlling

Question 2

what is planning

Answer 2

1.setting goals
2.develop strategies
3.determine resources
4.setting standards

Question 3

what is organizing

Answer 3

1.allocating resources
2. Prepare an organizational chart
3. recruiting

Question 4

what is leading

Answer 4

1. guiding and motivating
2. give assignments
3. provide feedback

Question 5

what is controlling

Answer 5

1.measuring results
2.monitor performance
3.reward outstanding performance

Question 6

role of managers

Answer 6

collaborative
guide and motivate
skilled comunicator
globally prepared

Question 7

define management

Answer 7

process used to accomplish organizational goals through planning, organizing, leading, and control

Question 8

example of a true leader

Answer 8

Bob Chapman, CEO of Barry Wehmiller

Question 9

important
define empowerment

Answer 9

giving frontline workers the authority and training to make a decision without consulting the manager and the responsibility to respond quickly to customers

Question 10

important
example of empowerment

Answer 10

Ritz Carlton’s COO

Question 11

the control process

Answer 11

1. Establish clear standards
2. monitor and record performance
3. Compare results against standards
4. communicate results
5. if needed, take corrective actions

Question 12

what is a vision statement

Answer 12

1. what do we want to become?
2. short, one statement
3. explanation of why the organization exists

Question 13

importance of vision statement

Answer 13

1. alignment
2. motivation
3. Decision-making
4. differentiation

Question 14

what is a mission statement?

Answer 14

outlines the fundamental purpose of an organization

Question 15

9 components of a mission statement

Answer 15

1.customer
2.market
3.product/service
4.technology
5. Concern for survival, growth, and profitability
6. Concern for public image
7. self concept
8. philosophy
9. concern for employee

Question 16

vision vs mission

Answer 16

vision focuses on future, mission focuses on present

Question 17

goals vs objectives

Answer 17

goals are long term, objectives are short term

Question 18

important
swot analysis

Answer 18

strength
weakness
opportunity
threats

Question 19

forms of planning

Answer 19

1.strategic
2.tactical
3.operational
4.contingency

Question 20

what is strategic planning

Answer 20

defining an organization’s long-term objectives and determining the best course of action (senior management)
example: apple

Question 21

what is tactical planning

Answer 21

breaking down a long-term strategic plan into smaller, short-term plans (middle management)
example: nike

Question 22

what is operational planning?

Answer 22

focus on day-to-day activities to achieve tactical objectives
example: walmart

Question 23

what is contingency planning?

Answer 23

anticipating and preparing for unexpected events
example: amazon

Question 24

define decision making

Answer 24

choosing among two or more alternatives

Question 25

types of management skills

Answer 25

1. technical 2. human 3. conceptual

Question 26

what are technical skills

Answer 26

ability to apply specialized knowledge

Question 27

what are human skills

Answer 27

ability to work with and understand others

Question 28

what are conceptual skills

Answer 28

ability to analyze complex situations

Question 29

important manager vs leader

Answer 29

1. A manager has subordinates, leader has followers 2. manager holds authority, leader is motivational 3. manager tells you what, leader shows you how

Question 30

leadership styles

Answer 30

1.autocratic 2.democratic 3.laissez faire 4.transformational 5.transactional 6.situational

Question 31

what is autocratic leadership

Answer 31

make decisions independently, with little or no input from employees

Question 32

advantages of autocratic leadership

Answer 32

1. quick decision-making process

Question 33

disadvantages of autocratic leadership

Answer 33

1. Employees are less motivated 2. ignore creative ideas from employees

Question 34

what is democratic leadership?

Answer 34

employees are involved in the decision making process

Question 35

advantages of democratic leadership

Answer 35

1. improved employee morale 2. high productivity 3. more ideas

Question 36

disadvantages of democratic leadership

Answer 36

1. poor decision making by unskilled workers

Question 37

what is laissez faire

Answer 37

Leaders offer little or no guidance to group members and leave the decision-making up to them.

Question 38

advantages of laissez faire

Answer 38

1. encourages personal growth 2.encourages innovation/creativity

Question 39

disadvantages of laissez faire

Answer 39

1. Lack of role clarity 2. Poor involvement with the group

Question 40

what is transactional leadership?

Answer 40

focuses on the follower completing required tasks in exchange for monetary compensation

Question 40

what is transformational leadership?

Answer 40

identified as the single most effective style, the leader focuses on each person individually and is passionate about making each person fulfill their potential

Question 41

advantage of transactional leadership

Answer 41

1. clearly defined roles. People know what they are required to do and what they will be receiving in exchange

Question 42

disadvantages of transactional leadership

Answer 42

stops creativity and out-of-the-box thinking.

Question 43

what is situational leadership

Answer 43

when a leader uses different behavioral styles depending on the situation.