FBP C7 - Management and Leadership

Question 1

What does management look like today?

Answer 1

Typically, managers are known to tell people what to do, watching over the, reprimanding them yet today managers are more progressive. Today they emphasize team building and open communication work areas. They tend to support, guide, train them instead of telling them what to do.

Question 2

What reasons can you give to account for changes in management?

Answer 2

Leaders today are younger, more females and fewer educated at elite universities. They know that many of their employees known more about technology therefore they put more emphasis on teamwork and motivation.

Question 3

Management

Answer 3

process used to accomplish organizational goals through planning, organizing, leading and controlling people and other organizational resources

Question 4

What are the functions of management?

Answer 4

1. Planning
2. Organizing
3. Leading
4. Controlling

Question 5

Planning

Answer 5

anticipating trend, determining the best strategies / tactics to achieve goals and objectives

Question 6

Organizing

Answer 6

designing the structure of the organization, creating systems where everyone and everything works together to achieve goals and objectives

Question 7

Leading

Answer 7

creating a vision for the organization and communicating, guiding, training, coaching other to achieve goals and objectives

Question 8

Controlling

Answer 8

measuring whether what actually occurs meets the organizations goals.

Question 9

Vision

Answer 9

An encompassing explanation of why the organization exists and where it is trying to go

Question 10

Goals

Answer 10

are broad, long term achievements that organizations aim to accomplish

Question 11

Objectives

Answer 11

are specific, short term plans made to help reach the goals

Question 12

What is a SWOT Analysis?

Answer 12

• Strengths
• Weaknesses
• Opportunities
• Threats

Question 13

Strategic planning

Answer 13

is broad, long range planning that outlines the goals of the organization

Question 14

Tactical planning

Answer 14

specific, short term planning that lists organizational objectives

Question 15

Operational planning

Answer 15

is part of tactical planning and sets specific timetables and standards

Question 16

Contingency planning

Answer 16

is developing an alternative set of plans in case the first set doesn’t work out

Question 17

The steps involved in decision making:

Answer 17

1) Define the situation
2) Describe and collect needed information
3) Develop alternatives
4) Decide which alternative is best
5) Do what is indicated (being implementation)
6) Determine whether the decision was a good one and follow up

Question 18

Decision making

Answer 18

Choosing among two or more alternatives.

Question 19

What are the 3 levels of management in the corporate hierarchy?

Answer 19

1. Top management
   (Highest level consisting of the president and other key company executives who develop strategic plans
2. Middle management
   General managers, division managers, and plant managers whoa re responsible for tactical planning and controlling
3. Supervisory Management
   First line managers / supervisors who evaluate workers daily performance

Question 20

1. Top management

Answer 20

(Highest level consisting of the president and other key company executives who develop strategic plans

Question 21

2. Middle management

Answer 21

General managers, division managers, and plant managers whoa re responsible for tactical planning and controlling

Question 22

3. Supervisory Management

Answer 22

First line managers / supervisors who evaluate workers daily performance

Question 23

What skills do managers need?

Managers must have three categories of skills:

Answer 23

1. Technical skills - (ability to perform specific tasks such as selling products or developing software)
2. Human relations skills – ability to communicate and motivate
3. Conceptual skills – ability to see organizations as a whole and how all the parts fit together

Question 24

Technical skills

Answer 24

(ability to perform specific tasks such as selling products or developing software)

Question 25

Human relations skills

Answer 25

ability to communicate and motivate

Question 26

Conceptual skills

Answer 26

ability to see organizations as a whole and how all the parts fit together

Question 27

Are these skills equally important at all management levels?

Answer 27

Managers at different levels need different skills. Top managers reley on human relations and conceptual skills and rarely use technical skills. First line supervisors need strong technical and human relation skills but use conceptual skills less often. Middle managers need to have a balance of all three skills

Question 28

Staffing

Answer 28

is recruiting, hiring, motivating and retaining the best people available to accomplish the companies’ objectives

Question 29

Manager

Answer 29

they plan, organize, and control functions within a organization.

Question 30

Leader

Answer 30

has a vision and inspires others to grasp that vision, establishes cooperate values, emphasizes cooperate ethics and doesn’t fear change.

Question 31

Explain the differences between leaders and managers and describe the various leadership styles:

Answer 31

Autocratic Participative / democratic Free rein

Question 32

Autocratic

Answer 32

Leadership tyle that involves making managerial decisions without consulting others

Question 33

Participative / democratic

Answer 33

leadership style in which members of the group take more participative role in decision making

Question 34

Free rein

Answer 34

leadership style that involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives

Question 35

Which leadership style is the best?

Answer 35

The most effective leadership style depends on the people being led and the situation. The challenge of the future will be to empower self-managed teams.

Question 36

Empowerment

Answer 36

giving employees the authority and responsibility to respond quickly to customer requests,

Question 37

Enabling

Answer 37

giving workers the education and tools they need to assume their new decision-making powers

Question 38

Knowledge management

Answer 38

finding the right information, keeping the information in a readily accessible place, and making the information known to everyone in the firm.

Question 39

What are the 5 steps of the control function?

Answer 39

1) Setting clear standards 2) Monitoring and recording performance 3) Comparing performance with plans and standards 4) Communicating results and deviations to employees 5) Providing positive feedback for a job well done and taking corrective action if necessary

Question 40

What qualities must standards possess to measure performance results?

Answer 40

- Specific - Attainable - Measurable

Question 41

Brainstorming

Answer 41

Coming up with as many solutions to a problem as possible in a short period of time with no censoring of ideas.

Question 42

Conceptual skills

Answer 42

- Skills that involve the ability to picture the organization as a whole and the relationships among its various parts.

Question 43

Contingency planning

Answer 43

The process of preparing alternative courses of action that may be used if the primary plans don’t achieve the organization’s objectives.

Question 44

Controlling

Answer 44

A management function that involves establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not.

Question 45

Decision making

Answer 45

Choosing among two or more alternatives.

Question 46

External customers

Answer 46

Dealers, who buy products to sell to others, and ultimate customers (or end users), who buy products for their own personal use.

Question 47

Internal customers

Answer 47

Individuals and units within the firm that receive services from other individuals or units.

Question 48

Mission statement

Answer 48

An outline of the fundamental purposes of an organization.

Question 49

Vision

Answer 49

An encompassing explanation of why the organization exists and where it is trying to go

Question 50

Transparency

Answer 50

The presentation of a company’s facts and figures in a way that is clear and apparent to all stakeholders.

Question 51

The process used to acomplish organizational goals through planning, organizationg, leading and controlling organizational resources is ____

Answer 51

management

Question 52

the part of the management function of organizing that ncludes hiring, motivating and retaining the best people is

Answer 52

Staffing

Question 53

The differance between leaders and mnagers is that ___ establish a vision and coperate values, while __ carry out the vision

Answer 53

leaders | managers

Question 54

The ___ function measures preformance relative to the planned objectives and standards, rewards people for the work well done and takes corrective acton

Answer 54

contol

Question 55

The tasks of knowledge mangers include

Answer 55

- making information known to employees in the organization - Keeping information in a readily accessable place - Finding the right information

Question 56

giving workers explicit instructions to meet the goals and objectives of the organization is ___

Answer 56

directing