how well the stated objectives and goals of a firm are met
the prudent use of a company's resources
the process of determining organizational direction to achieve a desired performance
the desired future state of the organization
roadmap for how to meet the goal
involves the deployment of resources, the assignment and grouping of tasks, the delegation of responsibility, and the implementation of hierarchical and reporting channels
skills, knowledge, and networks that an organization's people posses
the sum of the whole being greater than the sum of the parts
everyone has a boss
involves the use of power and persuasion to motivate and unite people in the attainment of organizational goals
the process of monitoring progress and correcting the deficiencies of an organization as it moves toward the fulfillment of goals
what are the four main management functions
planning, organizing, leading, controlling
a strategy where a firm focuses on subset of a larger industry of a particular customer base of a larger industry.
a strategy in which an organization sets it's products or services apart by offering something new or different.
a strategy usually taken by companies with high volume. Wal-Mart
the ability of a manager to see the organization as a whole and how each of the functions of the organization works together to achieve organizational goals.
the skills that allow us to relate to other people.
the skills required to perform a specific task, such as those that are responsible for equipment on an assembly line, manufacturing processes, accounting, engineering, etc.
one of Henry Mintzberg's three main types of managerial roles. here managers must interact with individuals both inside and outside of the organization. Within the interpersonal role are figurehead, leader, and liaison sub-roles.
a manager is the official representative of the organization or department- giving awards, hosting parties, signing documents
communicating, training, motivating, and redirecting constituents.
maintaining communication channels primarily with people outside the organization.
one of Henry Mintzberg's three main types of managerial roles. Most important as accurate information is essential for good decision making. Includes being a monitor, disseminator and spokesperson.
monitor sub role
gathering of information from a variety of sources about anything that affects the company including competition, technology, changes, market changes, and new products and services
disseminator sub role
a manager must be able to forward pertinent information to others, primarily within the organization, including subordinates.
spokesperson sub role
a manager is responsible for transmitting information to people outside the organization.
one of Henry Mintzberg's three main types of managerial roles. A manager must be an entrepreneur, disturbance handler, resource allocator, and negotiator.
entrepreneur sub role
a manager must be an agent for change and innovation.
disturbance handle sub role
the manager must fix problems between individuals or departments.
resource allocator sub role
manager must determine who gets what
negotiator sub role
where a manager is the formal representative of the organization with primarily those outside the organization such as a vendor.
ability to multitask, to shift focus from one task to another to another in rapid succession, to prioritize those tasks and follow up on the most important first.
span of management
number of subordinates that report to a supervisor
the process of engaging in international division of labor
the availability of capital and labor of a region or country
Frederick Winslow Taylor, pioneered time and motion studies in the steel mills around Philadelphia. Work completed increased as employees were offered pay incentives for meeting production quotas
Max Weber promoted ideas of promoting the best person for the job instead of friends increased company's productivity
breaks down the organization into a series of interrelated sub-systems
a viewpoint that says there is no one best way to manage: that management style should depend on the situation at hand
focuses on delivering the best quality goods and services to the customer
hyper focuses on inventory control and value chain mapping. Inventory is seen as waste
companies that share knowledge with intent of continually transforming themselves to better meet the demands of the customers