Intro to Management test 1

The five components of industry environment are:

1. Customers 2. Competitors 3. Suppliers 4. Regulations 5. Advocacy Groups

Planning

Defining performance goals for the organization and determining what actions and resources are needed to achieve the goals

Studying time and motion studies

Frank and Lillian Gilberth most noted for

Organizing

Function involves deciding how the organization will be structured

A(n) operational plan

Is a detailed plan used to provide a clear picture of how a team, section or department will contribute to the achievement of the organization's strategic goals.

middle managers.

Managers encourage, support, and foster talented employees. The managers who focus in this area are

regulation.

Many companies forbid smoking at work. This is an example of a

Controlling

May be the most important management function. The control process is also described as Feedback loops

Bureaucracy has taken on negative connotations in popular paperwork, apathy and unresponsiveness, slowness in responding to problems, and inflexibility. But most culture. It is associated with excessive organizations use most or all of the principles, because the principles promote

decisions for efficiency and effectiveness instead of favortism and incompetence

Companies strive to provide a product or service that is distinct, or _________________ in some way from their competitors.

differentiated

fixed budget

does not change or flex when sales or some other activity increases or decreases.

The alternative to viewing management as a process is

focus on people.

Strategic Management decides how best to attain a company's mission and vision through the coordinated efforts to achieve specific

goals and objectives.

incompetence Mayo predicted that a group with negative behaviors and fewsocial bonds

have very little chance of succeeding at the task.

Strategic management's first function is deciding

how to compete.

industry analysis

is a method for a company to assess its market position relative to its competitors.

Management as a process means:

planning, organizing, leading, and controlling resources and people to meet organizational goals.

Planning is:

process of continual adjustment

Benchmarking

refers to the technique of comparing performance to similar efforts. The comparison may be to other companies in the same industry, to other industries, or to other time periods.

Strategic management's second function is to make sure

that the people in the organization support the strategy

policies

usually approves broad guidelines for HR activities, like hiring and firing, performance appraisals, Companies need consistency in their HR practices to avoid charges of discrimination. Senior management promotions, and discipline.

Taylor's Four Principles of Scientific Management included what?

1. Scientifically determine the one best way to perform job 2. Hire right worker for each job 3. Monitor Worker performance, provide instruction and training when needed 4. Divide work betweeen workers/management

vertical management.

military organization is very structured. Ranks are very clear, defining who can give and who must take orders. This is an example of

The advantage of a ________ is that it can be very specific in how it addresses the needs of a particular situation.

Single- use plan

top-level managers.

Some managers set long-term goals and define strategies to achieve them.

What does vision mean?

Statement of an organization's over arching aspiration of what it hopes to acheive or to become

SWOT analysis stands for

Stregneths, Weaknesses, Opportunities, and Threats

Controlling

The process of monitering activities, measuring performance, comparing results to objectives, and making modifications and corrections when needed.

What is organizational structure?

Upper Management Middle management - Lower managiment

Leading

Use knowledge, characters, and charisma to generate enthusiasm and inspire effort to acheive goals.

Principles from the bureaucratic school of management

Were orginally designed to prevent favortism and incompetence

The Gnatt chart is a tool that provides a visual (graphic) reprensentation of

What occurs over the course of a project.

The systems approach to management is

akin to the Circle of Life in Disney's movie The Lion King.

a goal and to plan.

Over a period of time, a company can make many transitions. Before each transition, management scanned the environment to choose

Resources are always scarece in organizations, and managers need to make sure the resources they have are used effectively. ________ helps managers determine where resources are most needed so they can be allocated where they will provide the most benefit.

Planning

What does death by planning mean?

Planning can delay or prevent action.

Management activities are often grouped into four categories. These are:

Planning, Organizing, Leading, Controlling

entrepreneur, resource allocator, and negotiator, disturbance handlers

According to Mintzberg, there are four primary types of management decision roles. These include the following:

Michael Porter's Five Forces analysis looks at the forces driving an industry's profitability.

An analyst might use it to compare the relative merits of two different industries.

What is the first step in the planning process?

Define Objecives: determine what it is to be accomplished during the planning period

Which is a limitation of scientific management?

Knowledge-based work can't be observed and broken down for efficiencies like manual labor.