Intro to Business CH.7

Autocratic leadership

Leadership style that involves making managerial decisions without consulting others

PMI

Listing all the pluses for a solution in one column, all the minuses in another, and the implications in a third column .

Are the skills managers need equally important to all management levels?

Manager at different levels need different skills. Top managers rely heavily on human relations and conceptual skills an rarely use technical skills, while first-line supervisors need strong technical and human relations skills but use conceptual skills less often. Middle managers need to have a balance of all three skills

Human Relation Skills

Skills that involve communication and motivation; they enable managers to work through and with people

Objectives

Specific, short-term statements detailing how to achieve the organizations goals

What qualities use standards possess to ensure performance results?

Standards must be specific, attainable, and measurable

Goals

The broad, long-term accomplishments an organization wishes to attain

The definition of ___ ___ skills states: skills that involve communication and motivation; they enable managers to work through and with people

himan relations

Free-rein leadership

Leadership style that involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives

What are the primary functions of management?

1. Planning 2. organizing 3. leading 4. controlling

Planning

A management function that includes anticipating trends and determining the best strategies and tactics to achieve organizational goal and objectives

Organizing

A management function that includes designing the structure of the organization and creating conditions and systems in which everyone and everything work together to achieve the organizations goals and objectives

Staffing

A management function that includes hiring, motivating, and retaining the best people available to accomplish the company's objectives

Whats the difference between a manager and a leader?

A manager plans, organizes, and controls function within an organization. A leader has vision and inspires other to grasp that vision, establishes corporate values, emphasizes corporate ethics, and doesn't fear change

SWOT analysis

A planning tool used to analyze an orgnakzaitons strengths, weaknesses, opportunities, and threats

What does management look like today?

At one time, managers were called bosses, and their job consisted of telling people what to do, watching over them to be sure they did it, and reprimanding those who didn't. Many, if not most, managers still behave that way. Today, however, some managers tend to be more progressive. For example, they emphasize teams and team building; they create drop-in centers, team spaces, and open work areas. They tend to guide, train, support, motivate, and coach employees rather than tell them what to do.

Decision making

Choosing among two or more alternatives

Brainstorming

Coming up with as many solutions to a problem as possible in a short period of time with no censoring of ideas

What are the five steps of the control function?

Controlling incorporates 1. setting clear standards 2. monitoring and recording performance 3. comparing performance with plans and standards 4. communicating results and deviations to employees, 5. providing positive feedback for a job well done and taking corrective action if necessary

Leading

Creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organizations goals and objectives

External Customers

Dealers, who buy products to sell to others, and ultimate customers (or end users), who buy products for their own personal use.

Knowledge managment

Finding the right information, keeping the information in readily accessible place, and making the information known to everyone in the firm

Enabling

Giving workers the education and tools they need to make decisions

Internal Customers

Individuals and units within the firm that receive services from other individuals or units

Tactical Planning

The process of developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done. Setting annual budgets and deciding on activities to meet strategic objectives.

Contingency planning

The process of preparing alternative courses action that may be used if the primary plans don't achieve the organizations objectives. It is wise to have ____ plans because economic and competitive environments change rapidly. It is important to anticipate such changes.

Controlling

a management function that involves establishing clear standards to determine whether or not an organization is progressing towards its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not.

Vision

an encompassing explanation of why the organization exists and where its trying to head. ____ is a broad explanation of why the organization exists and where it is trying to go.

The customer who purchases the product from Zappos would be called:

an external customer

Mission Statement

an outline of the fundamental purposes of an organization

Zappos was created and made possible by a changing business-environment factor. This factor is:

technology

Problem solving

the process of solving the everyday problems that occur

Participative (democratic) leadership

Leadership style that consists of managers and employees working together to make decisions

What does empowerment mean?

Empowerment means giving employees the authority and responsibility to respond quickly to customer requests. Enabling is giving workers the education and tools they need to assume their new decision-making powers

What's the difference between goals and objectives?

Goals are broad, long-term achievements that organizations aim to accomplish, whereas objectives are specific, short-term plans made to help reach the goals

Eduardo arranged for his employees to acquire the education and tools they need to make decisions on their own. He is now confident that his employees will be able to handle more tasks independently, without extensive managerial assistance. What can be said about Eduardo?

He enabled them and encouraged empowerment

What reasons can you give to account for changes in management?

Leaders of Fortune 100 companies today tend to be younger, more of them are female, and fewer of them were educated at elite universities. They know that many of their employees know more about technology and other practices than they do. Therefore, they tend to put more emphasis on motivation, teamwork, and cooperation. Managers in the future are likely to be assuming completely new roles in the firm. For one thing, they will be taking a leadership role in adapting to climate change. Further, they'll be doing more expansions overseas.

Supervisory Management

Managers who are directly responsible for supervising workers and evaluating their daily performance

Technical Skills

Skills that involve the ability to perform tasks in a specific discipline or department

Conceptual Skills

Skills that involve the ability to picture the organization as a whole and the relationships among its various parts

What are the four types of planning , and how are they related to the organization goals and objectives?

Strategic planning- is broad, long-range planning that outlines the goals of the organization. Tactical planning- is specific, short-term planning that lists organizational objectives. Operational planning- is part of tactical planning and sets specific timetables and standards. Contingency planning- developing an alternative set of plans in case the first set doesn't work out.

Top management

The highest level of management, consisting of the president and other key company executives who develop strategic plans

Middle Management

The level of management that includes general managers, division managers, and branch and plant managers who are responsible for tactical planning and controlling

Which leadership style is best?

The most effective leadership style depends on the people being led and the situation. The challenge of the future will be to empower self-managed teams

Transparency

The presentation of a company facts and figures in a way that is clear and apparent to all stakeholders

Strategic planning

The process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals Top management preforms strategic planning.

Operational Planning

The process of setting work standards and schedules necessary to implement the company's tactical objectives

Problem Solving

The process of solving the everyday problems that occur. Problem solving is less formal than decision making and usually calls for quicker action

Management

The process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources .

What are the steps involved in decision making?

The six Ds of decision making are 1. define the situation 2. describe and collect needed information 3. develop alternatives 4. decide which alternative is best 5. do what is indicated (begin implementation) 6. determine whether the decision was a good one, and follow up

Which of the following regarding progressive managers are true?

They emphasize teamwork and team building They motivate They coach

Levels of Management

Top: President and Vice President Middle: Plant managers, division heads, branch managers. Supervisory Management: Supervisors, Foremen Department heads, Section leaders Nonsupervisory: Employees

Companies often us ____ to create long-term strategic plans for the organization.

a SWOT analysis

The style of leadership at Zappos is most closely aligned with

free-rein leadership

Allowing a desk clerk to decide whether to remove an incorrect fee from a customers bill at check

empowerment

Zappos trains, educates, and gives its employees the knowledge to make decisions in the workplace. This philosophy is referred to a:

enabling