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2011-09-21 18:11:14
Business management exam

Business Management Study cards for Exam I, Ch. 1
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  1. What is management?
    Getting Work Done through others
  2. What does efficiency entail?
    Getting work done with the minimum of effort, expense, or waste.
  3. What is effectiveness?
    Accomplishing a task that might fulfill organizational objectives.
  4. Planning
    Determining organizational goals and a means for achieving them.
  5. The Four Functions of Management
    Planning, Organizing, Leading, Controlling
  6. Organizing
    Deciding where decitions will be made, who will do what jobs and tasks, and who will work for whom.
  7. Leading
    Inspiring and motivating workers to work hard to achieve organizational goals
  8. Controlling
    Monitoring progress toward goal achievement and taking corrective action when needed.
  9. Who is Alan Mulally?
    CEO of Ford motor company, distributed set of cards with Ford's mission statement, leadership brought Ford back from poss. extinction, secured billion(s) dollar loan prior to recession, keeping ford sufficiently capitalized as world econ slowed.
  10. Top Managers
    • executives responsible for the overall direction of the organization. (CEO, CFO, CIO, COO)
    • - create context for change, develop employee commitment and ownership of companies' performance, positive organ. culture, monitor business envir.
  11. Middle Managers
    • Managers responsible for setting objectives consistent with top management's goals and for planning and implementing subunit strategies for achieving those directives. (Gen., Plant, Regional, Divisional Manager)
    • - setting objectives consistent with top management goals, planning/implementing subunit strategies for achieving those objectives, allocate resources to meet objectives, link groups, depts, divisions within a company. monitor and manage performance of subunits and individual managers who report them; implementing managerial strategies of top managers.
    • -
  12. First-Line Managers
    • Managers who train and supervise the performaces of nonmanagerial employees who are directly responsible for producing the company's products/services.
    • - nonmanagerial worker supervision (office, shift supervisor, department manager)
    • - teaching and training
    • -scheduling (based on mid man) and facilitation
    • -reward performance of workers.
  13. Team Leaders
    • Managers responsible for facilitating team activities toward accomplishing a goal.
    • not responsible for performance
    • help team members to plan and schedule work, learn to solve problems, and work effectively with one another.
    • manage external relationships (liaison/bridge)
  14. Who is Harry Mintzberg?
    • Professor, followed 5 american CEOs, shadowing each for a week and analyzing their mail/convos/actions
    • concluded the 3 major roles managers fulfill while performing their jobs
  15. Mintzberg's Managerial Roles
    • Interpersonal Roles: Figurehead, Leader, Liaison
    • Informational Roles: Monitor, Disseminator, Spokesperson
    • Decisional Roles: Entrepreneur, Disturbance Handler, Resource Allocator, Negotiator
  16. Figurehead Role (Interpersonal)
    Role managers play when they perform ceremonial duties. (greeting company visitors, speaking at the opening of new facility, representing company)
  17. Leader Role (Interpersonal)
    Managers motivate and encourage workers to accomplish organizational objectives (sometimes through bonus)
  18. Liaison Role (Interpersonal)
    • Managers deal with people outside their units
    • interact with professionals in other fields like firefighters, storm chasers, oil tycoons
  19. Monitor Role (Informational)
    • Managers scan their envir. for information
    • contact others for information, actively contact others for information
    • receive a great deal of unsolicited information from the sources
  20. Disseminator Role (Informational)
    • Managers share information with others in their depts or companies
    • Sharing info with subordinates and others in the company
  21. Spokesperson Role (Informational)
    • Managers share information with people outside their departments and companies.
    • Annual meetings w/company shareholders or board of directors
    • Example: Steve Jobs
  22. Entrepreneur Role (Decisional)
    • Managers adapt themselves, their subordinates, and their units to change.
    • new interactive training methods and new techniques for "kinectic learning"
  23. Disturbance Handler Role (Decisional)
    Managers role where they respond to severe problems and take immediate action. Usually role of top managers.
  24. Resource Allocator Role (Decisional)
    Managers decide who gets what resources and in what amounts. (Like deciding how much will be spent in research and development, or what to cut during recession)
  25. Negotiator Role (Decisional)
    • Managers negotiate schedules, projects, goals, outcomes, resources, and employee raises.
    • Can also work with outsiders, as in negotiating lawsuits, or negotiatinv contract terms in business deals.
  26. Technical Skills
    • Specialized procedures, techniques, and knowledge required to get the job done.
    • Most important for team leaders and lower-level managers: to supervise workers who produce or serve customers.
    • Troubleshoot prob. not as imp thru ranks
  27. Human Skills
    • The ability to work well with others.
    • Managers can work affectively with groups, encourage others to express thoughts/feelings
    • Sensitive to others views, good listener, good communicator
  28. Conceptual Skills
    Ability to see the org. as a whole, understand how the different parts affect each other, and recognize how the company fits into or is affected by its environment.
  29. Motivation to Manage
    Assessment of how motivated employees are to interact with superiors, participate in competitive situations, behave assertively toward others, tell others what to do, reward good behavior and punish poor behavior, perform actions that are highly visible to others, and handle and organize administrative tasks.
  30. Top managers are given an average of ___ minutes to perform each task before switching to another
    9 (NINE)
  31. First-Line manager spends about __ minutes on each task.
    2 (TWO)
  32. Dilemmas Associated with (NEW) Management
    • Not used to doing the job through others ("Doer")
    • Inflexible, too many how-tos
    • Too Bossy; intimidating and insensitive
    • Overmanaging: unable to delegate/build a team.
  33. Managers Affect..
    Customer Satisfaction: when the manager satisfies the employees, the employees provide much better service to customers.