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30 Cards in this Set
- Front
- Back
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What is the definition of management?
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The process of deciding how best to use a business's resources to produce goods and or provide services
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What are a business's resources?
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Employees, money, equipment
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What are the three levels of management ?
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Senior Managers
Middle managers supervisory managers |
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What is the job of the supervisory managers?
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-Run day to day operations
-Responsible for overseeing workers |
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What is an example of a supervisory manager?
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Forepersons, crew leaders, and store managers
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What is the job of middle managers?
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-Set goals for specific areas of the business
-Create a plan for employees to sucessfully achieve their goals -monitor activities of suboridinates -Generate reports for sr managers |
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What is the job of senior managers?
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-Establish goals and objections for the company
-decide what actions are needed to meet the goals -Decide how to use your resources -Setting the direction that the company will follow -Rely on middle and supervisory managers to execute the plan |
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what are management tasks?
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planning
organizing controlling staffing leading |
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What is planning?
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goals are set
actions to reach the goals are determined |
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What is organizing?
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grouping related activities together and designing duties to employees
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what is staffing?
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determining how many people are needed to accomplisg set goals
managers must recruit select and train the right individuals |
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what is leading?
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Good managers are great leaders, managers must provide guidance
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What is controlling?
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Evaluating raccoubnting records to ensure financial goals are being met
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What is the definition of role?
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a set of behaviors associated with a particular job
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What are the manager roles?
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-Interpersonal
-Information-related -Decision-making |
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Explain the interpersonal role
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-Managers relationship with people
-Played by providing leadership to employees and also by interacting with others outside of the organization |
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Explain the information related role
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-managers providing news knowledge and advice to employees
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Exlpain the decision making role
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-The role a manager plays when changing policy, resolving conflicts or deciding how to best use resources
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What are conceptual skills?
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Helps manager understand how different parts of a business work together
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What are human relations skills?
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-Similar to interpersonal skiils
-managers need these skills to communicate and work well with emplyees |
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What are technical skills?
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Specific abilities that people use to perform their job
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What is a principle?
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a basic truth or law
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What are the principles of management?
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-Management principles are guides to action not rigid laws
-Good managers recognize when a principle should be followed and when it should not |
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What are entrprenuers?
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-People who launch and run their own business
-Initially they are respnsible for most duties within the company |
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What is the risk associated wuith entrprenuership?
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_They can go out of business and lose money that was invested in the company
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What are the rewards of entrpreneurship?
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-Successful entreprenuers can create prosperous businessess providing high incomes and a geeling of personal accomplishment
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Whats the difference between managers and entrepreneurs?
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_Entrepreneurs tend to be more independant
-Business managers tend to have more formal education -Some entrepreneurs jump from job to job before starting their own business -entrepreneurs invest personal funds in their business |
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What is a sole proprietorship?
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People who run their business single handedly
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What is a partnership?
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more than one person owns the business
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What is a corporation
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entrepreneuership within a large or medium sized company
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