The process of planning, organizing, leading, and controlling to meet organizational goals.
What are managerial roles?
Behavioral patterns and activities involved in carrying out the functions of management; includes interpersonal, informational, and decisional roles.
What is planning?
Establishing objectives and goals for an organization and determining the best ways to accomplish them.
What are strategic plans?
Plans that establish the actions and the resource allocation required to accomplish strategic goals; they're usually defined for periods of two to five years and developed by top managers.
What is a mission statement?
A brief statement of why an organization exists; in other words, what the organization aims to accomplish for customers, investors, and other stakeholders.
What is vision statement?
A brief and inspirational expression of what a company aspires to be.
What is a values statement?
A brief articulation of the principles that guide a company's decisions and behaviors.
What is a goal?
A broad, long-range target or aim.
What is an objective?
A specific, short-range target or aim.
What is organizing?
The process of arranging resources to carry out the organization's plans.
What is a management pyramid?
An organizational structure divided into top, middle, and first-line management.
What are top managers?
Those at the highest level of the organization's management hierarchy; they are responsible for setting strategic goals, and they have the most power and responsibility in the organization.
What are middle managers?
Those in the middle of the management hierarchy; they develop plans to implement the goalss of top managers and coordinate the work of first-line managers.
What are first-line managers?
Those at the lowest level of management hierarchy; they supervise the operating employees and implement the plans set at the higher management levels.
What is leading?
The process of guiding and motivating people to work toward organizational goals.
What are autocratic leaders?
Leaders who do not involve others in decision making.
What are democratic leaders?
Leaders who delegate authority and involve employees in decision making.
What are participative management?
A philosophy of allowing employees to take part in planning and decision making.
What are laissez-faire leaders?
Leaders who leave most decisions up to employees, particularly those concerning day-to-day matters.
What is employee empowerment?
Granting decision-making and problem-solving authorities to employees so they can act without getting approval from management.
What is coaching?
Helping employees reach their highest potential by meeting with them, discussing problems that hinder their ability to work effectively, and offering suggestions and encouragement to over these problems.
What is mentoring?
A process in which experienced managers guide less-experienced colleagues in nuances of office politics, serving as a role model for appropriate business behavior, and helping to negotiate the corporate structure.
What is an organizational culture?
A set of shared values and norms that support the management system and that guide management and employee behavior.
What is controlling?
The process of measuring progress against goals and objectives and correcting deviations if results are not as expected.
What are standards?
Criteria against which performance is measured.
What is benchmarking?
Collecting and comparing process and performance data from other companies.
What is quality?
A measure of how closely a product conforms to predetermined standards and customer expectations.
What is a balanced scorecard?
A method of monitoring performance from four perspectives: finances, operations, customer relationships, and the growth and development of employees and intellectual property.
What is crisis management?
Procedures and systems for minimizing the harm that might result from some unusually threatening situations.
What are interpersonal skills?
Skills required to understand other people and to interact effectively with them.
What are technical skills?
The ability and knowledge to perform the mechanics of a particular job.
What are administrative skills?
Technical skills in information gathering, data analysis, planning, organizing, and other aspects of managerial work.
What are conceptual skills?
The ability to understand the relationship of parts to the whole.
What are decision-making skills?
The ability to identify a decision situation, analyze the problem, weigh the alternatives, choose an alternative, implement it, and evaluate the results.