Management and Leadership - Chapter 8

Question 1

Resources

Answer 1

General term that incorporates Human Resources, natural resources, and financial resources

Question 2

Management

Answer 2

Process used to accomplish organizational goals through planning, organizing, leading and controlling ppl and other organizational resources.

Question 3

Planning

Answer 3

Anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives.
Ex. Pleasing customers

Question 4

Organizing

Answer 4

Designing the structure of the organization and creating conditions and systems in which every1 and everything work together to achieve the organization’s goals and objectives.

Question 5

Leading

Answer 5

Creating a vision for the organization and communicating, guiding, training, coaching and motivating others to work effectively to achieve the organization’s goals and objectives.

Question 6

Vision

Answer 6

More than a goal; it’s a broad explanation of why the organization exists and where it is trying to head

Question 7

Values

Answer 7

Set of fundamental beliefs that guide a business in the decisions it makes.

Question 8

Mission statement

Answer 8

An outline of the organization’s fundamental purposes

Question 9

What does a mission statement

Answer 9

• organization’s self concept
• philosophy and goals
• long term survival needs
• customer needs
• social responsibility
• nature of the organization’s product/service

Question 10

Goals

Answer 10

The broad, long-term accomplishments an organization wishes to attain. Goals need to be mutually agreed on by workers and management. Thus, goal setting is often a team process.

Question 11

Objectives

Answer 11

Specific, short term statements detailing how to achieve the organizations goals

Question 12

Strategic planning

Answer 12

Outlines how the company will meet its objectives and goals. Provides the foundation for the policies procedures, and strategies for obtaining and using resources to achieve those goals.

Question 13

Tactical planning

Answer 13

Process of developing detailed, short term statements act what is to be done, who is to do it, and how it is to be done.

Question 14

Operational planning

Answer 14

Process of setting work standards and schedules necessary to implement the company’s tactical objectives.

Question 15

Contingency planning

Answer 15

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

Question 16

Decision making

Answer 16

Choosing among 2 or more alternatives. It sounds easier on paper than it is in practice. Decision making is the heart of all management functions.

Question 17

Organization chart

Answer 17

A visual device that shows relationships among ppl and divides the organization’s work; it shows who is accountable for the completion of specific work and who reports to whom.

Question 18

Middle management

Answer 18

General managers, division managers, and branch and plant managers who are responsible for tactical planning and controlling.

Question 19

Supervisory management

Answer 19

Those who are directly responsible for supervising workers and evaluating their daily performance; they are often known as first line managers bc they are the first level above workers.

Question 20

What are the 3 skills a manager must have?

Answer 20

1. Technical skills
2. Human Relations skills
3. Conceptual skills

Question 21

Technical skills

Answer 21

ability to perform tasks in a specific discipline or department

Question 22

Human relations skills

Answer 22

communication and motivation

Question 23

Conceptual skills

Answer 23

Ability to picture the organization as a whole and the relationships among its various parts

Question 24

Autocratic leadership

Answer 24

Making managerial decisions without consulting others. Such a style is effective in emergencies and when absolute “followership” is needed.

Question 25

Participative (democratic) leadership

Answer 25

Managers and employees working together to make decisions

Question 26

Free-rein leadership

Answer 26

Involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives

Question 27

Transformational leadership

Answer 27

Occurs when visionary leaders can influence others to follow them in working to achieve a desired outcome or goals

Question 28

Transactional leadership

Answer 28

Associated w employees who are motivated by a system of reward

Question 29

Empowerment

Answer 29

Giving employees the authority to make a decision without consulting the manager and the response

Question 30

5 Steps of Controlling

Answer 30

1. Establish clear performance standards. This ties the planning function to the control function. Without clear standards, control is impossible.
2. Monitor and record actual performance
3. Compare results against plans and standards
4. Communicate results and deviations to the employees involved
5. Take corrective action when needed and provide positive feedback for work well done

Question 31

External customers

Answer 31

Dealers, who buy products to sell to others, and ultimate customers who buy products for their personal use