Management

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Mitzi
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276903
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Management
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2014-06-17 13:29:30
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PartA
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  1. work with and through others to accomplish organizations goals
    Managers
  2. Three levels of management: Lower-level managers; Middle-level managers; and
    Top-level managers
    Types of Managers
  3. •Lower-level managers
    - managers at lowest level in the organization that manage the work of non-managerial employees

    •Middle-level managers
    - manager between first-line level and top level who manage the work of first-line managers

    •Top-level
    managers
    - responsible for making organization wide decisions and establishing plans and
    goals
    Lower, Middle, Top
  4. Management Functions
    (exhibit 1-2)
    • Management Functions
    • -Planning
    • -Organizing
    • -Leading
    • -Contolling
    • ....leads to "Achieving the Org.'s stated purpose"
  5. Management Functions:
    • Planning:defining goals, establishing strategies to achieve goals, and developing plans to integrate and coordinate activities.
    • Organizing:
    • determining tasks to be done, who should do them, how tasks should be grouped,
    • who reports to whom, and where decisions are to be made.
    • Leading: motivating subordinates, directing workers/teams, selecting best comm channels, and resolving employee behaviour issues
    • Controlling: monitoring actual performance, comparing actual performance to a standard, and taking corrective action when necessary
  6. Management -
    coordinating work activities to accomplish them efficiently and effectively
    with and through other people
    • •Efficiency -getting the most output from least amount of inputs;  doing
    • things right

    • •Effectively -completing activities so that organizational goals are accomplished; doing
    • the right things
  7. Planning:
    • •defining goals, establishing
    • strategies to achieve goals, and developing plans to integrate and coordinate
    • activities.
  8. Organizing:
  9. •determining tasks to be done, who
    • should do them, how tasks should be grouped, who reports to whom, and where
    • decisions are to be made.
  10. Controlling:
    • monitoring actual performance,
    • comparing actual performance to a standard, and taking corrective action when
    • necessary
  11. Management Roles:
    • Interpersonal
    • Informational
    • Decisional
  12. Management Roles-
    Interpersonal
    • •involve working with people,
    • ceremonial duties and symbolic roles
  13. Management Roles-
    Informational
    • • involves receiving, collecting
    • and disseminating information
  14. Management Roles-
    Decisional
    • making significant choices that
    • affect the organization
  15. Management Skills:
    • •Technical
    • skills - knowledge and expertise in a specialized field.
    • •Human
    • skills - ability to work with people both individually and in groups.
    • •Conceptual
    • skills - mental ability to analyze and generate ideas about abstract and
    • complex situations.

  16. The External Environment (exhibit 2-2)
    • The External Environment:
    • 1. Global
    • 2. General
    • Political, Legal, socio-cultural, technological, Environmental, Economic, Environment
    • 3. Specific
    • Employees, Customers, Social & Political action groups, Competitors, Trade & Industry Associations, Governments, Media, Suppliers, Communities, Shareholders, Unions
    • (ORGANIZATIONS : includes sole proprietorships and corporations)
  17. Cross Cultural Considerations:
    Hofstede’s Approach to Understanding Differences Between National Cultures
    • •Individualism v. Collectivism
    • •Power Distance
    • •Uncertainty Avoidance
    • •Achievement v. Nurturing
    • •Long-term v. Short-term Orientation
  18. Cross Cultural Awareness:
    • •1.   Fully Accept Diversity
    • •2.   Recruit Broadly
    • •3.   Select Fairly
    • •4.   Provide Orientation and Training for
    • Minorities
    • •5.   Sensitize Non-minorities
    • •6.   Strive to be Flexible
    • •7.   Seek to Motivate Individually
    • •8.   Reinforce Employee Differences
  19. The Strategic Management Process
    • 1. Identify the Org's Current Mission, Goals & Strategies
    • 2. SWOT analysis
    •  A- Internal Analysis (strengths, weaknesses)
    •  B- External Analysis (Opportunities, threats)
    • 3. Formulate Strategies
    • 4. Implement Strategies
    • 5. Evaluate Results
  20. STEPS IN GOAL SETTING:
    • 1.Review org.’s vision and mission
    • 2.Evaluate available resources (internal and external*)
    • 3.Determine goals (traditionally or MBO)
    • 4.Record and communicate goals to all
    • who need to know
    • 5.Review results
  21. Characteristics of Well-Designed Goals
    (exhibit 3-2)
    • •Written in terms of outcomes rather
    • than actions
    • •Quantifiable and measurable
    • •Clear time frame
    • •Challenging but attainable
    • •Participation and feedback from all necessary org. members
  22. Types of Plans
    • •Vision and Mission
    • - purpose of org.
    • •Strategic Plans
    • - apply to entire org. and seek to position in terms of its environment
    • •Operational Plan
    • - specify details of how overall goals are to be achieved
    • •Long-term Plans -
    •  - plans more than 3 years
    • •Short-term Plans
    • - plans of 1 year or less
    • •Specific Plans -
    • clearly defined with no room for nterpretation
    • •Directional Plans -
    • flexible plans setting out general guidelines
    • •Single-Use Plans
    • - one time plan designed to meet needs of a specific situation
    • •Standing Plans
    • - provide guidance for activities performed repeatedly
  23. SWOT Analysis
    • •STRENGTHS -
    • activities the org. does well or any unique resources it has.
    • •WEAKNESSES -
    • activities the org. does not do well or any resources it needs but does not have.
    • •OPPORTUNITIES -
    • positive trends in external factors.
    • •THREATS -
    • negative trends in the external environment.
  24. Types of Strategies
    • •CORPORATE STRATEGIES
    • - evaluate what business a venture is in, should be in, or wants to be in
    • •BUSINESS STRATEGIES
    • - corporate strategy must then be turned into a business strategy that gives the venture a competitive advantage (what sets an org. apart; an org.’s distinct edge)
    • •FUNCTIONAL STRATEGIES
    • - used by org.’s various departments to support the business strategy
  25. CORPORATE STRATEGIES
    • •GROWTH STRATEGIES -
    • when an org. wants to grow and does so by adding products or markets served.
    • •STABILITY STRATEGY
    • - maintaining the status quo.
    • •RENEWAL STRATEGIES -
    • addresses org.’s weaknesses that are leading to performance decline.
  26. GROWTH STRATEGIES
    • •Concentration-
    • achieved when org. concentrates on primary business increasing products offered or markets served.
    • •Vertical Integration
    • - org. attempts to gain control of inputs (backward integration), or outputs (forward integration), or both.
    • • Horizontal Integration -
    • growth by combining with other org.s in the same industry
  27. DIVERSIFICATION STRATEGIES
    • •Related Diversification - when an org. grows by combining with firms in different but related industries
    • •Unrelated Diversification - when an org. grows by combining with firms in different and unrelated industries (called Conglomerates)
  28. STABILITY STRATEGY
    Why?

    • •Resources, capabilities and core
    • competencies may be stretched to their limits
    • •Industry may be experiencing slow
    • or no growth
    • •Owners may choose not to suffer the
    • hassles associated with expansion
  29. RENEWAL STRATEGY
    • •RETRENCHMENT STRATEGY
    • - reduces org.’s activities or operation by cost reductions, layoffs, store closures, canceling product lines or services
    • •TURNAROUND STRATEGY -
    • for use in times when org.’s performance problems are more critical, ie. not slow growth but losses
  30. BUSINESS STRATEGIES
     COMPETITIVE STRATEGIES
    •In any industry six competitive forces dictate the rules of competition:

    • 1.Threat of new entrants
    • 2.Threat of substitutes
    • 3.Bargaining power of buyers
    • 4.Bargaining power of suppliers
    • 5.Current-competitive rivalry
    • 6.Power of complementors
  31. COMPETITIVE STRATEGIES
    • •COST LEADERSHIP
    • -org. sets out to be the lowest-cost producer in its industry.
    • •DIFFERENTIATION
    • -org. seeks to offer unique products that are widely valued by customers.
    • •FOCUS STRATEGY
    • - org. pursues a cost or differentiation advantage in a narrow industry segment.
    • •Stuck in the Middle
    • occurs when a business is unable to develop a competitive advantage through either cost or differentiation.
  32. CORPORATE SOCIAL RESPONSIBILITY
    • •CORP. SOCIAL RESPONSIBILITY
    • - business’s obligation beyond that required by law and economics to do the right things and act in a way that is good for society
    • •ETHICS
    • -rules and principles that define right and wrong
    • •CODE OF ETHICS
    • - formal statement of an org.’s primary values and ethical rules it expects its employees to follow
    • •CLASSICAL VIEW
    • - management’s only responsibility is to maximize profits
    •  Case of Sutton’s Hospital (1612)
    • Sir Edward Coke in hie reasons for judgement discussed the nature of
    • corporations and stated, “...they have no souls,...”*
    • •SOCIO-ECONOMIC VIEW
    • - management’s social responsibility goes beyond profits to include protecting and improving society’s welfare
  33. DEVELOPING PROBLEM SOLVING SKILLS
    • 1. Think of yourself as creative.
    • 2. Pay attention to your intuition.
    • 3.Move away from your comfort zone.
    • 4.Determine what you want to do.
    • 5.Look for ways to tackle the problem.
    • 6.Look for ways to do things better.
    • 7.Find several right answers.
    • 8.Believe in finding a workable solution.
    • 9.Brainstorm with others
    • 10. Turn creative ideas into action.
  34. ORGANIZATIONAL STRUCTURE

       how job tasks are divided, grouped, and coordinated within an org.
    • 1.Work Specialization
    • 2.Departmentalization
    • 3.Chain of Command
    • •-Line and Staff Authority
    • 4.Span of Control
    • 5.Centralization and Decentralization
    • 6.Formalization

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