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55 Cards in this Set
- Front
- Back
Organization
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A group of people who work together to achieve some specific purpose
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Management
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1) The pursuit of organizational goals efficiently and effectively by 2)integrating the work of people through 3) planning, organizing, leading, and controlling the organization's resources.
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Efficiency
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Th means of attaining the organizations goals. To be efficient means to use resources-people, money, raw materials, and the like-wisely and cost effectively.
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Effectiveness
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Effectiveness is the organizations ends, the goals. To be effective means to achieve results, to make the right decisions and to successfully carry them out so that they achieve the organizations goals.
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Multiplier effect
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Managers have this effect --> Means that the influence on the organization is multiplied far beyond the results that can be achieved by just one person acting alone
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Competitive advantage
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The ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them
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To stay ahead with competitive advantage what four areas does an organization need to stay ahead then?
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1) being responsive to customers
2)innovation 3) quality 4) efficiency |
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Innovation
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Finding ways to deliver new or better goods or services.
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Challenges managers face
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1) Managing for Competitive Advantage-Staying ahead of Rivals
2)Managing for Diversity 3) Managing for Globalization 4) Managing for Information Technology 5)Managing for ethical Standards 6) Managing for your own happiness and life goals |
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e-commerce
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electronic commerce-the buying and selling of goods or services over computer networks
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e-business
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using the internet to facilitate every aspect of running a business
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project management software
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programs for planning and scheduling the people, costs, and resources to complete a project on time.
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databases
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computerized collections of interrelated files
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Collaborative computing
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using state of the art computer software and hardware will help people work better together
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knowledge management
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implementing of systems and practices to increase the sharing of knowledge and information throughout an organization.
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Management Process also called the four management functions
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1. Planning
2. Organizing 3. leading 4. Controlling |
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Planning
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Setting goals and deciding how to achieve them
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Organizing
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arranging tasks, people and other resources to accomplish the work
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Leading
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motivating, directing and otherwise influencing people to work hard to achieve the organizations goals.
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Controlling
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monitoring performance, comparing it with goals, and taking corrective action as needed
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Three levels of management
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1. Top
2. Middle 3. First-line |
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Top Managers
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make long term decisions about the overall direction of the organization and establish the objectives policies and strategies for it. EX: CEO
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Middle Managers
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implement the policies and plans of the top managers above them and supervise and coordinate the activities of the first line managers below them Ex: plant manager
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First Line Managers
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Make short-term operating decisions, directing the daily tasks of non managerial personnel (do not oversee the work of others)
ex: Supervisor |
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Within the names of the departments the organization is run by what two types of managers?
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1. Functional
2. General |
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Functional Manager
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responsible for just one organizational activity
Ex: VP of production |
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General Manager
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responsible for several organizational activities
EX. executive VP |
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What are the three types of organizations
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1. non profit
2. for profit 3. mutual benefit (ex: labor unions) |
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Commonweal organization
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unlike nonprofit service organizations which offer services to some clients, commonweal organizations offer services to all clients within their jurisdictions
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Henry Mintzberg
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In the late 1960s followed 5 chief executives around for a week and recorded their working lives.
His findings were 1. A manager relies more on verbal communication than on written 2. A manager works long hours at an intense pace 3. A managers work is characterized by fragmentation, brevity and variety |
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What are the three types of managerial Roles?
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1. Interpersonal
2. Informational 3. Decisional |
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Interpersonal roles
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managers interact with people inside and outside their work units
ex. Figurehead, leader, and Liaison |
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Informational Roles
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Mintzberg believed it was the most important. They act as monitors, disseminators, and spokesperson, managers receive and communicate information with other people
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Decisonal Roles
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Ex. Entrepreneaur, Resource allocation and Negotiator. In this role managers use info to make decision to solve problems or take advantage of opportunites
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The four decisional making roles are what
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1. Entrepreneur
2. Distrubance handler 3. Resource allocator 3. Negotiator |
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Small Business create what percentage of new jobs
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75% and represent 99.7% of all employers.
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Entrepreneurship
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The process of taking risks to try to create a new enterprise
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What are the two types of entrepreneurships
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1. Entrepreneur is somenes who sees a new opportunity for a product or service and launches a business to try to realize it.
2. Intrepreneur is someone who works inside an existing organization who sees an opportunity for a product or service and mobilizes the organizations resource to try to realize it ex. researcher, manager or scientist |
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What is the difference between being a manager and entrepreneur
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Being an entrepreneru is what it takes to start a business, and being a manager is what it takes to grow or maintain a business
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Characteristics of entrepren. and mangers
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1. High need for achievement
2. belief in personal control of destiny. ...Internal locus of control the believe that you control your own destiny 3. High energy level and action orientation 4. High tolerance for ambiguity 5. More for entrp. but self confidence and tolerance for risk |
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Three levels of management
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1. Top
2. Middle 3. First-line |
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Top Managers
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make long term decisions about the overall direction of the organization and establish the objectives policies and strategies for it. EX: CEO
|
|
Middle Managers
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implement the policies and plans of the top managers above them and supervise and coordinate the activities of the first line managers below them Ex: plant manager
|
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First Line Managers
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Make short-term operating decisions, directing the daily tasks of non managerial personnel (do not oversee the work of others)
ex: Supervisor |
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Within the names of the departments the organization is run by what two types of managers?
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1. Functional
2. General |
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Functional Manager
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responsible for just one organizational activity
Ex: VP of production |
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General Manager
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responsible for several organizational activities
EX. executive VP |
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What are the three types of organizations
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1. non profit
2. for profit 3. mutual benefit (ex: labor unions) |
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Commonweal organization
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unlike nonprofit service organizations which offer services to some clients, commonweal organizations offer services to all clients within their jurisdictions
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Henry Mintzberg
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In the late 1960s followed 5 chief executives around for a week and recorded their working lives.
His findings were 1. A manager relies more on verbal communication than on written 2. A manager works long hours at an intense pace 3. A managers work is characterized by fragmentation, brevity and variety |
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Opportunity entrepreneurs
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89% of entrepreneurs who do not create a business out of necessity but rather out of a burning desire
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Robert Katz
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Mid 1970's found that through education and experience managers acquire three principal skills
1. technical 2. Conceptual 3. Human |
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Technical skils
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Consist of the job-specific knowledge needed to perform well in a specialized field.
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Conceptual skills
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Consist of the ability to think analytical to visualize an organization as a while and understand how the parts work together.
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Human skills
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One of the most difficult set of skills to mater. These consist of the ability to work well in cooperation with other people to get things done. Often these are though of as "soft skills"
ex. inspire and motivate |