Management 5-6

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  1. Project Management Process parts (4) + concept:
    process of planning, organizing, leading, and controlling an organization's resources to achieve its goals.
  2. Define planning, organizing, leading, controlling:
    • Planning- management process of determining what an org needs to do and how best to get it done. (goals-> strategy-> tactical and operational plans to implement the strategy)
    • Organizing- management process of determining how best to arrange an org.'s resources and activities into a coherent structure.
    • Leading- management process of guiding and motivating employees to meet an org's objectives. give orders and demand results 
    • Controlling- management process of monitoring an org's performance to ensure that it is meeting its goals.
  3. Types of managers (3):
    • Top managers: responsible for firm's overall performance and effectiveness. Set general policies, formulate strategies, approve decisions. Represent the firm. 
    • Middle managers: responsible for implementing the strategies and working toward the goals set by the top managers.
    • First-line manager: responsible for supervising the work of employees. Ensure the employees are trained and understand their tasks. Supervisor, project manager, group leaders
  4. Areas of management (6):
    1. Human Resource Managers: hire and train employees, evaluate performance.

    2. Operation Managers: production, quality control. 

    3. Marketing Managers: getting products from producers to consumers.

    4. Information Managers: design and implements systems to gather, organize and distribute information.

    5. Financial Managers: to plan and oversee accounting functions and financial resources.

    6. Other Managers
  5. Basic management skills (6):
    1. Technical skills: needed to perform specialized tasks. 

    • 2. Human Relations Skills: skills in understanding and getting along with people
    • 3. conceptual skills: abilities to think abstractly, diagnose and analyze different situations, and see beyond the present situation
    • 4. Time Management Skills: skills associated with the productive use of time. paperwork, telephone calls, meetings, e-mail

    5. Decision making skills: finding problems and solutions
  6. What is strategic management?
    • process of helping an org maintain an effective alignment with its environment.
    • 1. Set goals: objectives that a business hopes and plans to achieve

    2. Strategy: broad set of organizational plans for implementing the decisions made for achieving organizational goals
  7. Purpose of goals:
    • 1. direction and guidance
    • 2. helps firms to allocate resources (what has priority?)
    • 3. define corporate culture (the shared experiences, stories, beliefs, and norms that characterize an organization)
    • 4. to assess performance
  8. Kinds of goals:
    Long-term goal: goal set for an extended time, typically 5 years or more into the future

    Intermediate goal: goal set for a period of 1 to 5 years into the future

    Short-term goal: goal set for the very near future
  9. What is mission statement?
    Organization's statement of how it will achieve its purpose in the environment in which it conducts its business
  10. Types of strategy (3):
    Corporate strategy: for determining the firm's overall attitude toward growth and the way it will manage its business or product lines. (which business or businesses a company will own and operate)

    Business (or Competitive) strategy: strategy, at the business-unit or product-line, focusing on improving a firm's competitive position

    Functional strategy: strategy by which managers in specific areas decide how best to achieve corporate goals through productivity
  11. Strategy Formulation:
    Creation of a broad program for defining and meeting an organization's goals.

    • Step 1 - Strategic goals
    • goal derived directly from firm's mission statement

    • Step 2 - SWOT, environmental and organizational analysis
    • - Identification and analysis of organizational strengths and weaknesses (S+W) and environmental opportunities and threats (O+T)as part of strategy formulation

    - Process of scanning the business environment for threats and opportunities

    - Process of analyzing a firm's strengths and weaknesses

    Step 3 - matching the organization and its environment 

    => formulate strategy
  12. Hierarchy of plans:
    Strategic plans: plans reflecting decisions about resource allocations, company priorities, and steps needed to meet strategic goals. Yahoo: top internet search engines 

    Tactical plans: generally short-term plan concerned with implementing specific aspects of a company's strategic plans. need for partnerships 

    Operational plans: plan setting short-term targets for daily, weekly, or monthly performance. partnership agreements 
  13. Contingency planning (varuplaan):
    Identifying aspects of a business or its environment that might entail changes in strategy
  14. Crisis management:
    Organization's methods for dealing with emergencies
  15. What is organizational structure?
    Specification of the jobs to be done within an organization and the and the ways in which they relate to each other.
  16. What is Organization chart?
    Diagram depicting a company's structure and showing employees where they fit into its operations.
  17. What is chain of command?
    reporting relation within a company. who reports to whom
  18. how to build organizational structure (3):
    1. Job specialization:the process of identifying the specific jobs that need to be done and designing the people who will perform them

    2. Departmentalization: process of grouping job into logical units. 

    3. Establishment of a decision-making hierarchy: who'll be empowered to make which decisions and have authority over others
  19. Which are the lines of departmentalization (5):
    1. Product dep. : dividing an org. according to specific products or services being created

    2. Process dep. : dividing an org. according to production process used to create a good or service. 

    3. Functional dep.: dividing an org. according to groups' functions or activities.

    4. Customer dep.: dividing an org. to offer products and meet needs for identifiable customer groups. 

    5. Geographic dep.: dividing an org. according to the areas of the country or the whole world served by a business.
  20. Profit center:
    separate company unit responsible for its own costs and profits.
  21. Decision- making hierarchy:
    • 1. Centralized organizations: org. in which most decision-making authority is held by upper level management. 
    • => tall organizational structure with multiple layers of management 

    • 2. Decentralized organization: org. in which a great deal of decision-making authority is delegated to levels of management at points below the top. 
    • => Flat organizational structure with relatively few layers of management.
  22. Span of control:
    number of people supervised by one manager. At lower levels, where tasks are similar and simpler, span control widens.
  23. Delegation process:
    Delegation: process through which a manager allocates work to subordinates (alamatele)

    • 1. Responsibility: duty to perform an assigned task 
    • 2. Authority: power to make the decisions necessary to complete a task
    • 3. Accountability: obligation employees have to their manager for the successful completion of an assigned task
  24. Three forms of Authority:
    • 1. Line authority: organizational structure in which authority flows in a direct chain of command from the top of the company to the bottom. 
    • => Line departments: department directly linked to the production and sales of a specific product

    • 2. Staff authority: based on expertise that usually involves counseling and advising line managers. 
    • => Staff managers: advisers and counselors who help line departments in making decisions but who do not have the authority to make final decisions. 

    • 3. Committee and Team Authority: authority granted to committees or teams involved a firm's daily operations
    • => work team: groups of operating employees who are empowered to plan and organize their own work and to perform that work with a min supervision.
  25. Basic forms of Organizational structure (4):
    1. Functional structure: org. structure in which authority is determined by the relationships between group functions and activities. 

    • 2. Divisional structure: org. structure in which corporate divisions operate as autonomous business under the larger corporate umbrella. 
    • => Division: department that resembles (sarnanema) a separate business in that it produces and markets its own products. 

    3. Matrix structure: org. structure created by superimposing one form of structure onto another. mix

    4. International: approaches to organizational structure developed in response to the need to manufacture, purchase, and sell in global markets.
  26. Informal organization:
    Network, unrelated to the firm's formal authority structure, of everyday social interactions among company employees
  27. grapevine (kuuldus, suust suhu kandev):
    informal communication network that runs through an organization
  28. Intrapreneuring:
    process of creating and maintaining the innovation and flexibility of a small- business environment within the confines (piirid) of a large organization.
Card Set:
Management 5-6
2014-03-24 15:37:19

Flashcards for the Management of Organisations in Europe exam Chapter 5 & 6
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