Management Quiz Flashcards
An effective manager will do more with less.
false - efficient
Outsourcing is the assignment of labor or production to an internal organization usually with the intent to save money.
false
In order for a company to be successful, who should it create value for?
customers
What is the major driver in expanding the span of management of managers today?
technology
If Ralph taught 40 students in his class last year and this year he teaches 75 students in the same class, what can be said about Ralph’s teaching?
Ralph is more efficient this year than last year
Why are organizational skills important for a manager?
The fragmented and wide variety of tasks that are required of a manager daily
According to Henry Mintzberg, what managerial role includes being a monitor, disseminator, and spokesperson?
Informational role
If a good manager is deemed to be “lucky” then luck is defined as:
The confluence of preparation and opportunity
In regards to value creation if you stop and think about what McDonald’s is really selling you will see they are selling:
Fast cheap food
Management
the way things get done within an organization.
Effectiveness
how well the stated objectives and goals of a firm are met.
Efficiency
the prudent use of a company’s resources.
4 Main Management Functions
Planning
Organizing
Leading
Controlling
Planning
the process of determining organizational direction to achieve a desired performance.
Goal
the desired future state of the organization.
Plan
a “roadmap” for how to meet the goal.
Organizing aka Structuring
involves the deployment of resources, the assignment and grouping of tasks, the delegation of responsibility, and the implementation of hierarchical and reporting channels.
Two Resources: Capital and People
Cap must provide return
Human: skill, knowledge, networks
Synergy
Back
the sum of the whole being greater than the sum of the parts.
Leading
involves the use of power and persuasion to motivate and unite people in the attainment of organizational goals.
coordinate dept efforts
lead out
est. culture
Controlling
the process of monitoring progress and correcting the deficiencies of an organization as it moves towards the fulfillment of its goals. check employee performance watch for new tech best practice higher efficiency
Core Competitive Strategy
Differentiation
Cost Leadership- high volume
Niche/focus- restaurant
Three Manager Skill Categories
Conceptual - see org as a whole
Human
Tech
Other needed Skills
ethical
listen
Three types of managerial roles
Interpersonal
Informational
decisional
