Bus. Study Questions Chapter 6
In what areas can managers specialize? From what area do top managers typically come?
Area of management include finance, production of operations, human resources, marketing, and administration. Top managers typically come from administrative areas.
What are three styles of leadership? Describe situations in which each style would be appropriate.
Autocratic Leaders- best if manager has all the steps to complete a specific activity and wants the employees to follow this or her exact directions Democratic Leaders- if the manager is constantly in need of employee input, but also want to have a say in decisions Free-rein Leaders- this type would be beneficial if manager needs a new product developed and trusts his or her employees to work in the best interest of the company
Why is management so important, and what is its purpose?
Management is important because it guides and assists businesses in achieving their goals. It's purpose is the help organizations achieve their objectives by effectively using resources and adjusting to changing environments.
What skills do managers need? Give examples of how managers use these skills to do their jobs.
Managers use technical skills to train employees and provide guidance, conceptual skill to evaluate where the company will be in the future, analytical skills to think about issues in the company and weigh options to solve them, and human relation skills to communicate with other managers and employees.
Name the five functions of management, and briefly describe each function.
Planning- Determining the business objectives and figuring out how to accomplish said objectives Organizing- The structuring of resources and activities. Includes the process of dividing employees into teams to accomplish objectives Staffing- Hiring workers to carry out objectives Directing- Motivating and leading employees to work towards objectives Controlling- Evaluating and adjusting activities to keep company on course to accomplish objectives
Explain why the American Heart Association would need management, even though its goal is not profit related.
The AHA would need management because management is universal and any business requiring coordination of their resources needs managment.
Why must a company have financial resources before it can use human and physical resources?
The company needs financial resources to pay and/or purchase the human and physical resources they need.
Explain the steps in the decision-making process.
The decision making process has 6 steps 1.Recognize and define decision situation 2.Develop options to resolve situation 3. Analyse options 4.Select the best option 5.Implement the decision 6. Monitor the consequences of the decision
What is the mathematical formula for perfect management? What do managers spend most of their time doing?
There is no formula for management, but managers spend most of their time figuring out what to do when faced with obstacles and getting things done despite having little direct control.
Identify the three levels of management. What is the focus of managers at each level?
Three levels of management are top management, middle management and line management. Top managers main focus is planning, middle managers main focus is organizing and line managers main focus is controlling