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64 Cards in this Set
- Front
- Back
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What is complacency?
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Uncritical satisfaction with oneself or one's achievements.
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Our world is constantly _____.
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changing
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New technologies are _____ beings created and discovered.
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constantly
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Environmental concerns are more ____ than ever.
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prevalent
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THe work place has become more diverse. More ____, ____, and ____ have entered the workforce.
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women, minorities, and immigrants
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Definition of Management
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The prcess 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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Levels of Management
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-Senior Manager
-Middle Manager -Supervisory Manager |
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Run day to day operations of the business
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Supervisory Managers
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Set goals for specific areas of the business
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Middle Managers
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Responsible for overseeing workers who provide the company's products and services:
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Supervisory Managers
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Creat a plan for employees to successfully achieve goals:
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Middle Managers
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Establish goals and objections for the company:
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Senior Managers
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Forepersons, crew leaders, and store managers are examples of:
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Supervisory Managers
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Monitor activities of subordinates:
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Middle Managers
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Generate reports for senior managers with updates on progress etc.
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Middle Managers
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Decide how to use a company's employees, equipment and money (resources) to achieve goals.
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Senior Managers
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Concentrate on setting the direction that the company will follow
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Senior Managers
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Rely on middle and supervisory managers to execute the plan:
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Managers
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The three levels of management for a ____. A group ranked in order of importance
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Hierarchy
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the Five Management Tasks
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-Planning
-Organizing -Staffing -Leading -Controlling |
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-Goals are set
-Actions to reach the goals are determined |
Planning
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Grouping related activites together and designating duties to employees.
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Organizing
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Determine how many people are needed to accomplish set goals
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Staffing
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Managers must recruit, select, and train the "right individuals
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Staffing
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Involves regular commmunication with employees.
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Leading
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Managers are constantly evaluating accounting records to ensure that financial goals are being met
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Controlling
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Who spends more time controlling?
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Supervisory Managers
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Who spends the least amount of time staffing?
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Supervisory Managers
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Role
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A set of behaviors associated with a particular job
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Management Roles
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-Interpersonal
-Information-Related -Decision-Making |
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-Manager's relationships with people
-Played by providing leadership to employees and also by interacting with others outside of the organization |
Interpersonal
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Managers provide news, knowledge, and advice to employees
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Information Related
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Roles a manager plays when changing policy, resolving conflicts, or deciding how to best use resources
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Decision - Making
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Role:
Manager distributes information outside of the organization |
Information - Related
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Role:
Manager decides to negotiate contracts |
Decision - Making
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Role:
Manager guides and motivates staff |
Interpersonal
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Management Skills
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-Conceptual Skills
-Human Relations Skills -Technical Skills |
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Skill:
Help managers understand how different parts of a business work together |
Conceptual Skills
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-Similar to interpersonal skills
-Managers need these skills to communicate and work well with employees |
Human Relations Skills
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Skill:
Specific abilities that people use to perform their job |
Technical Skills
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When are human relations skills most important?
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All levels of management
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When are technical skills least important?
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Top Management
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Principle
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A basic truth or law
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Do all businesses apply the same management principles?
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No, management principles are guides to action (suggestions) not rigid laws.
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The invisible barrier that prevents minorities and women from moving up the corporate ladder.
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The Glass Ceiling
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-Employees of the business and do not have ownership in them.
-Paid to perform the management functions within a company |
Professional Managers
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Skill:
Specific abilities that people use to perform their job |
Technical Skills
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When are human relations skills most important?
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All levels of management
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When are technical skills least important?
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Top Management
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Principle
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A basic truth or law
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Do all businesses apply the same management principles?
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No, management principles are guides to action (suggestions) not rigid laws.
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The invisible barrier that prevents minorities and women from moving up the corporate ladder.
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The Glass Ceiling
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-Employees of the business and do not have ownership in them.
-Paid to perform the management functions within a company |
Professional Managers
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-People who launch and run their own businesses
-Initially they are responsible for most of the duties within the company -As the company grows, they may hire professional managers -They often work much longer than the standard 8 hour work day |
Entrepreneurs
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What risks are associated with entrepreneurship?
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Without adequate skills, entrepreneurs can go out of business and lose the money that was invested in the company
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Diffrerence in Entrepreneurs and Managers:
_____tend to have more formal education |
Business managers
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Diffrerence in Entrepreneurs and Managers:
______tend to be more important |
Entrepreneurs
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Some _______jump from job to job before starting thier own business
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Entrepreneurs
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__________invest personal funds in their business
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Entrepreneurs
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People who run their own businesses single handedly
-maintain total control of decision making |
Sole proprietorship
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More than one person owns the business
-attractive option when a large sum of money is needed |
partnership
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By incorporating, business owners avoid being held personally liable for financial losses
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Corporation
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Entrepreneurship within a large or medium sized company
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Intrapreneurship
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