Orgma Skuma Flashcards
(215 cards)
1
Q
“Management is a multi-purpose organ
that manages business and manages
managers and manages workers and
work.”
A
- Peter Drucker
2
Q
Father of Management
A
- Peter Drucker
3
Q
“Is a multi-purpose organ
that manages business and manages
managers and manages workers and
work.” Who said this?
A
Peter Drucker
4
Q
“Management is to forecast, to plan, to
organize, to command, to coordinate
and control activitites of others.”
Who said this?
A
- Henri Fayol
5
Q
Father of principle of management
A
- Henri Fayol
6
Q
Father of Modern Management
A
- Henri Fayol
7
Q
“___________ is to forecast, to plan, to
organize, to command, to coordinate
and control activitites of others.”
A
Management
8
Q
“Management is to?.”
A
1) Forecast
2) To plan
3) To Organize
4) To command
5) To coordinate
6) Control activitites of others
9
Q
“Management is the art of knowing what
you want to do and then seeing that thet
do it in the best and cheaper manner.”
Who said this?
A
Frederick W. Taylor
10
Q
Father of Scientific Management
A
Frederick W. Taylor
11
Q
Management is the art of knowing what?
A
what
you want to do and then seeing that the best to
do it, is in the best and cheaper manner
12
Q
is the art of knowing what
you want to do and then seeing that thet
do it in the best and cheaper manner.”
A
Management
13
Q
“Management is the art of getting
things done through people.”
Who said this?
A
- Mary Parker Follett
14
Q
“______________ is the art of getting
things done through people.”
A
Management
15
Q
“Management is the art of getting
things done through ____________.”
A
people
16
Q
is the attainment of organizational goals
effectively and efficiently through
planning, organizing, staffing, directing and
controlling organizational resources.
A
Management
17
Q
What is the concept of management?
A
Management is the attainment of organizational goals
in an effective and efficient manner through
planning, organizing, staffing, directing and
controlling organizational resources.
18
Q
Characteristics and Nature of Management?
A
1) Goal Oriented
2) Universal
3) Continuous Process
19
Q
It is a means to
achieve certain
goals.
A
goal
oriented
20
Q
An essential element
of every organized
activity
A
universal
21
Q
Ongoing and
never-ending
process
A
continuous
process
22
Q
Is a group of people bonded together
with common goals and objectives.
A
Organization
23
Q
Organization is a group of people bonded together
with?
A
common goals and objectives.
24
Q
An organization is a group of people bonded together
with common goals and objectives. Typically, it
is formed due to the reason of?
A
human
satisfaction and security.
25
Characteristics of Organization?
1) Coordination
2) Common Goal
3) Division of Labor
4) Command Level
26
All people in the group
should be harmonized
Coordination
27
Every member as a
common ground
Common Goal
28
Every member has a
role and responsibility
Division of Labor
29
Has hierarchy of people
that leads the members
Command Level
30
The period of 1700 to 1800 emphasizes the industrial revolution and
the factory system highlights the industrial revolution and the
importance of direction as a managerial purpose.
Pre-scientific Management
Period (before 1880)
31
Pre- Scientific Management Period:
The period of ________________ emphasizes the ___________________
1700 to 1800, industrial revolution,
32
Pre-scientific Management
Period (before _____________)
1880
33
Highlights the industrial revolution and the
importance of direction as a managerial purpose.
The factory system
34
the factory system highlights what?
the industrial revolution and the
importance of direction as a managerial purpose.
35
Important contributors of the Pre-scientific Management Period?
● Charles Babbage
● James Montgomery
● James Watt
● Charles Dupin
36
is the earliest thought of
management
Classical Theory
37
Was associated with the ways to manage work and organizations more efficiently.
The classical approach
38
It is known as scientific management.
The classical approach
39
the founders of scientific
management and administrative management.
F.W. Taylor and Henry Fayol
40
The Classical approach falls under?
Classical Theory
41
It uses scientific methods to analyze the most efficient production process in order to increase productivity.
scientific management
42
attempts to find a rational way to design an organization as a whole.
administrative management.
43
It was closely associated with the industrial revolution
and the rise of large- scale enterprise.
Classical Period
44
It attempts to find methods that increase output of
workers.
Classical Period
45
It stresses on formal structure of jobs and work
schedules to satisfy individual and organizational needs.
Classical Period
46
Three main theories in the Classical Period:
1) Scientific Management Theory
2) Fayol’s Classical Organisation Theory
3) Weber’s Bureaucracy Theory
47
Scientific Management Theory
- who founded it?
Frederick W. Taylor
48
It was developed because of the need to increase
productivity and increase worker’s efficiency.
Scientific Management Theory
49
A differential wage rate system was introduced
Scientific Management Theory
50
Fayol’s Classical Organisation Theory
- Who founded it?
(Henri Fayol)
51
It was focused on managing the organization as a whole
Fayol’s Classical Organisation Theory
52
Five functions of management was introduced:
(Planning, Organizing, Staffing, Directing, Controlling)
53
(Planning, Organizing, Staffing, Directing, Controlling) was introduced in what theory?
Fayol’s Classical Organisation Theory
54
1. The aim is to increase production at the (Taylor or Fayol?
shop level
Taylor (Father of Scientific Management)
55
2. The focus is on improving output (Taylor or Fayol?)
through work simplification and
standardisation.
Taylor (Father of Scientific Management)
56
3. The theory studies management from (Taylor or Fayol?)
bottom to top.
Taylor (Father of Scientific Management)
57
4. It is based on scientific observation and (Taylor or Fayol?)
measurement.
Taylor (Father of Scientific Management)
58
5. It covers narrow perspective of management (Taylor or Fayol?)
theory
Taylor (Father of Scientific Management)
59
The aim is to increase overall production of the
organisation.
Fayol (Father of Principles of Management)
60
The focus is on developing principles that can be
applied to coordinate internal activities of the
organization-
Fayol (Father of Principles of Management)
61
Management is viewed from top to bottom.
Fayol (Father of Principles of Management)
62
It is based on personal experience later translated
into universal truth.
Fayol (Father of Principles of Management)
63
It has wider perspective and. therefore, wider
applicability.
Fayol (Father of Principles of Management)
64
Weber’s Bureaucracy Theory
Who made it? Even tho it's very obvious...
Max Weber
65
The rational-legal authority system/model was introduced
characterized by:
-Division of work
-Rules and Regulations
-Hierarchy of authority
-Record keeping
-Impersonal relations
66
is built on the base of classical theory.
Neoclassical Theory
67
concentrated on job content and
management of physical resources
Classical theory
68
gave greater emphasis to individual and group
relationship in the workplace.
neoclassical
theory
69
Pointed out the role of psychology
and sociology.
neo-classical theory
70
neo-classical theory Pointed out the role of____________
psychology
and sociology.
71
Modern Theory is also known as?
(System Approach)
72
considers an organization as an adaptive
system which has to adjust to changes in its environment.
Modern theory
73
It was developed as a synthesis of quantitative theory,
systems theory, contingency theory and operational theory
of management.
Modern theory
74
Modern Theory was developed for?
quantitative theory,
systems theory, contingency theory and operational theory
of management.
75
is responsible for the entire
organization particularly in
realizing its goals and the
attainment of its vision and
mission.
The
Manager
76
Levels of management?
Top Management
Middle Management
Lower Management
77
The manager is responsible for what?
entire
organization particularly in
realizing its goals and the
attainment of its vision and
mission.
78
Three Levels of Managers
1) Top Level Managers
2) Middle Level Managers
3) Lower Level Managers
79
What managers are this?
(BODs, CEO, President)
Top Level
Managers
80
What managers are this?
(general, branch and
department)
Middle Level Managers
81
What type of managers are these
(supervisory and
operative)
Lower Level
Managers
82
Control and oversee the organization
Top Level Managers
83
Develop goals, strategic plans, policies and make decisions
Top Level Managers
84
Perform executory functions
Middle Level Managers
85
Manage the day-to-day activity of the business, monitors performance
Middle Level Managers
86
Referred to as line managers
Lower Level Managers
87
oversee and direct the employees
Lower Level Managers
88
Five Functions of a Manager?
1) Planning
2) Organizing
3) Staffing
4) Directing
5) Controlling
89
This involves identifying the goals of the organization, and the best way(s) to accomplish these goals.
Planning
90
This involves assigning responsibilities to employees who have the competence and ability to complete the task.
Organizing
91
It involves hiring the right employee for the job. The main purpose of staffing is to put the right person on right job.
Staffing
92
It involves coordinating the entire organization so it
performs efficiently to achieve its goals.
Directing
93
Elements of Directing
1) Supervision
2) Leadership
3) Motivation
4) Communications
94
overseeing the work
Supervision
95
guides and influences
Leadership
96
inspiring, stimulating or encouraging
Motivation
97
passing information, experience, opinion
Communications
98
It involves with monitoring or checking the performance of
employees, comparing it with organizational goals, and taking corrective
actions when necessary.
Controlling
99
10 Roles of a Manager (Categories)
Interpersonal, Informational, Decisional
100
10 Roles of a Manager (with category)
1) Figurehead Interpersonal
2) Leader Interpersonal
3) Liaison Interpersonal
4) Monitor Informational
5) Disseminator Informational
6) Spokesman Informational
7) Entrepreneur Decisional
8) Disturbance Handler Decisional
9) Resource Allocator Decisional
10) Negotiator Decisional
101
Performs ceremonial duties
Handing out awards
Cutting ribbons of business openings
Figurehead
102
Building a team
Coaching & motivating members
Leader
103
Develops and maintain a network
Intermediary for business partnerships
Liaison
104
It involves building harmonious relationship among members of the organization.
Interpersonal Roles
105
It involves developing contacts and linkages to further the reach and influence of the business.
Informational Roles
106
Seeks out and gathers information relevant to the organization
Monitor
107
Provides information where it is needed in the organization
Disseminator
108
Transmits information to people outside the organization
Spokesperson
109
Involves developing new business plans, strategies, or a new project.
Decisional Roles
110
Searches out new opportunities and initiates change
Entrepreneur
111
Handles unexpected events and crises
Disturbance handler
112
Designates the use of financial, human, and other organizational resources
Resource allocator
113
Leads the contracts and agreements behalf of the organization.
Negotiator
114
3 Skills of an Effective Manager
1) Technical Skills
2) Human Skills
3) Conceptual Skills
115
These are skills that will be required to increase sales, design different types of products and services, market the products and services, etc
Technical Skills
116
The knowledge or ability of a manager for more abstract thinking. He can easily see the whole through analysis and diagnosis of different states
Conceptual Skills
117
The knowledge and ability of a manager to work with people.
Human Skills
118
It refers to those aspects of the surroundings of
business enterprise, which affect or influence
its operations and determine its effectiveness.
Business Environment
119
It is the process of gathering information about events and their relationships within an organization's internal and external environments.
Environmental Scanning
120
Purposes of Environmental Scanning:
1) To help management determine the future direction of the organization.
2) It is also helpful in making good and effective company policies.
121
Classifications of Business Environment:
1) Business Environment
2) Internal Environment
3) External Environment
122
Factors or events existing within a firm
INTERNAL ENVIRONMENT
123
Factors or events outside the firm
EXTERNAL ENVIRONMENT
124
Controllable factors
INTERNAL ENVIRONMENT
125
Uncontrollable factors
EXTERNAL ENVIRONMENT
126
Strengths and weaknesses
INTERNAL ENVIRONMENT
127
Opportunities and threats
EXTERNAL ENVIRONMENT
128
Company only
INTERNAL ENVIRONMENT
129
All companies operating in the industry
EXTERNAL ENVIRONMENT
130
Business Strategy, functions and decisions
INTERNAL ENVIRONMENT
131
Business survival, growth, reputation, expansion, etc.
EXTERNAL ENVIRONMENT
132
Factors of Internal Environment:
1) Plans & Policies
2) Financial Resources
3) Corporate Image
4) Culture
5) Human Resources
133
The plans and policies of the firm should be properly framed taking into consideration the objectives and resources of the firm.
Plans & Policies
134
The survival and success of the firm largely depends n the quality of human resources.
Human Resources
135
A firm needs adequate funds to meet its working capital and fixed capital requirements.
Financial Resources
136
A firm should develop, maintain, and enhance a good corporate image in the minds of employees, investors and customers.
Corporate Image
137
A good management relationship helps in increasing the morale of the employees and motivates them to exert effort in the business.
Culture
138
Factors of External Environment (with label)
Shareholders - Microenvironment
Employees - Employees
Customers - Customers
Competitors - Competitors
Suppliers - Suppliers
Economic Factors - Macro environment
Political & Legal - Political & Legal
Technological - Political & Legal
Socio-Cultural - Political & Legal
139
are the actual owners of the company, as they invest their money in the company
Shareholders
140
It is very important for the firm, to employ the right people, retain and keep them motivated so as to get the best out of them.
Employees
141
are given the most important place in every business, because, the products are created and promoted for customers only.
Customers
142
are the business rivals, which operate in the same industry, offering the same product and services, and cater to the same audience.
Competitors
143
To carry out the production process, the raw material is required which is provided by the suppliers.
Suppliers
144
has a direct impact on a company’s business operations.
behavior of the supplier
145
Macro Environmental Factors:
Economic
Environment
Technological
Environment
Business
Environment
Social
Environment
Legal
Environment
Political
Environment
146
The political and legal environment consists of the laws, rules, regulations and policies which the company needs to adhere.
1. Political-Legal Environment
147
Tax Policies
Labor Policies
Environmental Policies
1. Political-Legal Environment
148
The economic conditions of the region and the country as a whole has a significant bearing on the company’s profitability.
Economic Factors
149
Inflation Rates
Interest Rates
Current Economic Climate
Economic Factors
150
The attitude of the society to a business also depends on whether the firms have been responsive to the needs and wants of the society.
Socio-Cultural Factors
151
Age Demographics
Lifestyle
Traditions
Beliefs
Socio-Cultural Factors
152
This comprises the innovations and improvements in methods, machines and materials.
4. Technological Factors
153
Research and development
Threats from competing technologies
4. Technological Factors
154
It involves looking at the strengths and weaknesses of your business capabilities, and any opportunities and threats to your business.
SWOT Analysis
155
Once you identify these, you can assess how to:
capitalize on your strengths
minimize the effects of your weaknesses
make the most of any opportunities
reduce the impact of any threats
156
(things your company does well)
STRENGTHS
157
Competitors in your area, emerging
needs of your product)
WEAKNESSES
158
(things your company lacks)
OPPORTUNITIES
159
(Emerging competitors, changing
customer’s attitude, and regulations)
THREATS
160
It is sometimes called global sourcing, means engaging in the international division of labor so that manufacturing can be done in countries with the cheapest sources of labor and supplies.
Outsourcing
161
is the making of a product or service in the firm’s domestic marketplace and selling it in another country
Exporting
162
On the other hand is bringing a good, service, or capital into the home country from abroad.
Importing
163
provides some technology to a foreign firm (licensee) by granting that firm the right to use the licensor's manufacturing process, brand name, patents, or sales knowledge in return for some payment.
A firm
164
is a partnership between a domestic firm and a foreign firm. Both partners invest money and share ownership and control of partnership.
Joint venture
165
is a partnership between a domestic firm and a foreign firm. Both partners invest money and share ownership and control of partnership.
Joint venture
166
are investments in tangible assets or companies with the aim of financing their development in the medium or long term.
Direct Investment
167
are investments in tangible assets or companies with the aim of financing their development in the medium or long term.
Direct Investment
168
Involves two or more firms jointly cooperate for mutual gain
Strategic Alliances
169
It involves partnership between an organization ad a foreign company in which both share resources and knowledge in developing new products or building production activities.
Strategic Alliances
170
is the first stage of the management cycle.
Planning
171
It involves the establishment of the goals and objectives for the
company or organization.
Planning
172
Are narrow in scope and usually for short-term (within 1 year)
Objectives
173
Are narrow in scope and usually for short-term (within 1 year)
Objectives
174
Are broad in nature and for longer term (3-5 years)
Goals
175
Planning starts with setting a _________
company’s mission and vision.
176
It is a picture of what the organization wants and is committed to achieve in the future.
Vision Statement
177
It answers the question,
“What do we want to become?”
Vision Statement
178
Vision Statement
should be?
SHOULD BE SHORT
PREFERABLY ONE SENTENCE
MUST BE AGREED BY MANAGEMENT AND EXECUTIVES
179
company’s remark; a value creation premise that people can actually picture as existing
FOCUSED CONCEPT
180
something people can realistically believe to be possible and, if not perfectly attainable, at least reasonable to strive for
PLAUSIBLE CHANCE OF SUCESS
181
something that is really worth doing; something that can create value, make a contribution, make the world a better place in some way, and win people's commitment
NOBLE PURPOSE
182
It is an enduring statement of purpose of an organization’s existence that distinguishes itself from others.
Mission Statement
183
It answers the question,
“What is our business?”
Mission Statement
184
Who are the firm’s customers?
Customers
185
What are the firm’s major products or services?
Products or services
186
Components of a Vision Statement
FOCUSED CONCEPT
PLAUSIBLE CHANCE OF SUCESS
NOBLE PURPOSE
187
Geographically, where does the firm compete?
Markets
188
Is the firm technologically current?
Technology
189
Is the firm committed to growth and financial soundness?
Concern for survival, growth, and profitability
190
What are the basic beliefs, values, aspirations, and ethical priorities of the firm?
Philosophy
191
What is the firm’s distinctive competence or major competitive advantage?
Self-concept
192
Is the firm responsive to social, community, and environmental concerns?
Concern for public image
193
Are employees a valuable asset of the firm?
Concern for employees
194
Steps in Planning
Define your goals/objectives
Know your strengths and weaknesses
Develop premises regarding future conditions
Analyze and choose among action alternatives
Implement the plan and evaluate results
195
is used in light of achieving big goals in the long term. It is more of a high-level planning done by the top-level managers in the organization.
Strategic planning
196
is used in light of achieving big goals in the long term. It is more of a high-level planning done by the top-level managers in the organization.
Strategic planning
197
refers to task prioritization for achieving short term goals. Such planning helps achieve those goals as prescribed in a strategic plan.
Tactical planning
198
It is the kind of planning required for day-to-day activities. It can be of two types – either single-use plans or ongoing plans.
Operational Plan
199
operational plan can be 2 types
single-use plans or ongoing plans.
200
These plans can be used only until the objective is achieved, after which they are of no purpose.
Single Use Plans
201
These are repetitive in nature and can be modified for evolving purposes in the future. They are also characterized by short-term plans.
Ongoing Plans
202
Also known as ‘special planning’, it is used for situations when changes cannot be foreseen.
Contingency Plan
203
is a common statistical task in business, where it helps to inform decisions about the scheduling of production, transportation and personnel, and provides a guide to long-term strategic planning.
Forecast
204
Forecast used e Forecast used either be ___________
quantitative or qualitative
205
numerical information about the past is available;
it is reasonable to assume that some aspects of the past patterns will continue into the future
mathematical calculations, statistical analyses of surveys or researches are used
Quantitative forecasting
206
This method is used if there are no data available, or if the data available are not relevant to the forecasts
Qualitative Forecasting
207
It is identifying a specific set of uncertainties, different “realities” of what might happen in the future of your business. It is a long-term version of contingency plan.
Scenario Planning
208
- It generally involves external comparison of a company’s practices and technologies with those of other companies.
Benchmarking
209
It aims to encourage all their employees working in their different work of units to learn and improve by sharing one another’s best practices.
Internal benchmarking
210
A common benchmarking technique is to search for best practices used
by other organizations that enable them to achieve superior
performance.
External benchmarking
211
It is a process which begins with a problem identification and
ends with the evaluation of implemented solution. The types of decision-making are:
Decision–making
212
-a decision that is repetitive and can be handled using a routine approach.
Structured or programmed decision
213
applied to the resolution of the problem that are new or usual, or which information is incomplete
Unstructured or non-programmed decision
214
These are ideal conditions in deciding problems; these are situation in which a manager can make precise decisions because the results of all alternatives are known.
Certainty conditions
215
Uncertainty means that implies a situation where future events are not known and can not be measured. It means outcome of the decision is unknown and uncontrollable.
Risk or uncertainty
conditions
