Management Test 1
Difference between entrepreneurs and managers
entrepreneur is what it takes to start a business and being a manager is what it takes to grow or maintain a business
team leader
facilitate team activities toward achieving a goal
innovation
finding ways to deliver new or better goods or services
middle manager role
implement those decisions (disrtrict manager, or regional)
Three roles of managers
interpersonal, informational, and decisional
keys to management
1. Being responsive to customers 2. innovation 3. quality 4.efficiency
Seven challenges of managers
1. Need to manage for competitive advantage 2. need to manage for diversity inlace, ethnicity, gender and ect. 3. Manage for the effect of globalization and of information technology 4. manage to maintain ethical standards 5. manage for sustainability 6. manage for your own happiness and life goals 7. manage for information technology
Define organization in reference to management
A group of people who work together to achieve some specific purpose
to have a competitive advantage you must be ahead in what areas
Being responsive to customers, innovate, quality, and efficiency
Efficiency defined
Efficiency is the means of attaining the organization's goals.
Conceptual skills and types of management
Important to top managers who need to deal with ambiguous and far-reached consequences
Intrapreneur
Is a type of entrepreneurship where someone who works inside an existing organization who sees an opportunity for a product or service and mobilizes the organization's resources to try to realize it
Competitive advantage
Is the ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them
multiplier effect
Is your influence on the organization is multiplied far beyond the results that can be achieved by just one person acting alone
General Managers
Responsible for several departments. Usually in small companies
Good manager principal skills
Technical (perform specific job), conceptual (ability to think), and human (interaction with others)
The art of Management defined
The art of getting things done through people
Effectiveness defined
The organization's end goal, to be effective means to achieve results, to make the right decisions and to successfully carry them out so that they achieve the organizations goals
Formal definition of management
The pursuit of organizational goals efficiently and effectively by integrating the work of people through planning, organizing, leading, and controlling the organization's resources.
Two kinds of innovators expressed in entrepreneurship
The two kinds are entrepreneur and intrapreneur
What makes a good manager
They are task oriented, achievement oriented, and people oriented and they operate within an organization
Application of Efficiency
To be efficient means to use resources people, money, raw materials, and the like wisely and cost effectively
Four levels of Managers
Top, middle, first-line manager, and team leaders
Organizing
You arrange tasks, people, and other resources to accomplish the work
Controlling
You monitor performance, compare it with goals, and take corrective action as needed
leading
You motivate, direct, and otherwise influence people to work hard to achieve the organizations goals
Entrepreneur
a type of entrepreneurship where someone who sees an new opportunity for a product or service and launches an business to try to realize it
Human skills and soft skills and types of management
it is important for all types of managers and deals with the ability to work well in cooperation with other people to get things done
first-line manager
make short-term decisions (supervisor or department head)
Top manager role
makes long term decisions (CEO)
Interpersonal roles
managers interact with people inside and outside their work units (figurehead, leader, and liaison)
Technical skills and type of management
most important in lower levels of management that are among employees
Functional Managers
responsible for one organizational activity. It usually has a specific title in front of the job like Fitness Manager, or Vice President of Production.
Planning in the management functions
setting goals and decide how to achieve them
Decisional role
(entrepreneur, disturbance handler, resource allocator, and negotiator) use information to make decisions to solve problems or take advantage of opportunities.
informational role
(monitor, disseminator, and spokesperson) managers receive and communicate information with other people inside and outside organization
Management process defined and functions
aka the four management functions: planning, organizing, leading, and controlling
Expatriate
an american manager working in a foreign country
Helps create global village
convenient air travel and electronic media
chief skills companies seek in top managers
the ability to motivate and engage, ability to communicate, work experience outside the U.S, high energy levels
soft skills
the ability to motivate, to inspire trust, to communicate with others
Management definition
the pursuit of organizational goals efficiently and effectively