BUS-101 Test Ch. 7: Management and Leadership

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Five Steps of Controlling: "Buzz Words"

1) standards 2) measurement 3) communication 4) feedback

Technical Skills

Ability to perform tasks in a specific discipline or department

Goals

Broad, long-term accomplishments an organization wishes to attain

Chief Executive Officer (CEO)

Introduces change into an organization

Human Relations Skills

Involve communication and motivation; enable managers to work through and with people

Conceptual Skills

Involve the ability to picture the organization as a whole and the relationship among its various parts

Autocratic Leadership

Making managerial decisions without consulting others Example: Military

Participative or Democratic Leadership

Managers and employees work together to make decisions Example: Engineering firms

Free-Rein Leadership

Managers set objectives and employees are free to do whatever is appropriate to accomplish those objectives Example: Google, Apple, etc.

Chief Financial Officer (CFO)

Obtains funds, plans budgets, collects funds, etc.

Mission Statement

Outlines the organization's fundamental purposes

4 Stages of Management

Planning: developing strategies to reach goals Organizing: preparing a structure (organization chart) showing lines of authority and responsibility Leading: guiding and motivating employees to work effectively to accomplish organizational goals and objectives. Controlling: Monitoring performance; taking corrective action when necessary.

Objectives

Specific, short-term statements detailing how to achieve the organization's goals

Forms of Planning

Strategic Planning: broad, long-range goals by top managers Tactile Planning: specific, short-range objectives by lower-level management Operational Planning: setting of work standards and schedules Contingency Planning: backup plans in case primary plan fails

SWOT Analysis

Strengths, Weaknesses, Opportunities, and Threats

Management

Used to accomplish organizational goals through planning, organizing, leading and controlling people


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