BD ch 7

Objectives

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

lag indicators

financial measures that summarive the results of past actions

Knowledge Management

finding the right information, keeping the information in a readily accessibly place, and making the information known to everyone is a firm

CIO

gets information to right people

Enabling

giving workers the education and tools they need to make decesions

Top Managment

highest level of management, consistig of president and other key company executives who develop strategic plans

Financial Measures

how does the company look to stockholds?

Internal Customers

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

PMI

listing all the pluses for a solution in one column, the minuses in another, and the impications in the third

Mission Statement

longer than vision, outlines organizations fundamental purposes

Autocratic Leadership

making managerial decesions without consulting others. Efffective in emergencies or with unskilled workes

Planning

managementg function that includes anticipating trends and determining best strategies and tactics to achieve organizational goals and objectives

Partcipiative Leadership

managers and employees working togehter. Increases job satisfaction

Free-Rein Leadership

managers set objectives and employees are free to do what it takes to achieve objectives

Supervisory Management

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

leading indicators

non-financial measures for future financial performance

CFO

obtain funds and budgets

Leading

persuing the vision: guiding, training, coaching, and motivating. Empowering Employees

SWOT Analysis

planning tool used to analyze strengths, weaknesses, opportunities, and threats. Could be in matric form. What is current with both external and internal things

Contingency Planning

preparing alternative courses of action that mayb e used if the primary plans dont achieve goals

Strategic Planning

process of determining the major goals of the organization and the policies and strategies for obtaining and using resources. Plannig for the long range

COO

responsible for putting change into effect

Operational Planning

setting work standard and schedules necessar to implement the company's tactical objectives. Short run

Techincal Skill

skills that involve ability to perform tasks in a specific discipline or department.

Human Relation Skill

skills that involve communication that motivation, they enable managers to work through and with people. Important everywhere

Conceptual Skill

skills that involve the ability to picture the organiztion as a whole an the relationship among its various parts

Four parts of balanced score card

Finanical Measures, Customer Measures, Internal Processes, Innovation and Improvement

The Four Parts of Management

Planning, Organizing, Leading, Controlling

Staffing

a management function that includes hiring, motivating, and retaining the best people available to accomplish goals. Hire slow fire fast

Balanced Score Card

attemps to show in one report the various aspects of performance that are critical to the short and long-term sucess of the organization

Vision

broad explination of why the organization exsists and where its trying to go

Goals

broad, long-term accomplishments an organization wishes to attain

Leaders Must

communicate a vision, establish values, ethics, embrace change, and stress responsibility

Controlling

creating clear standards to determine whetehr or not an organization is progressing toward its goals and objectives

External Customers

dealers, who buy products to sell to others, and uultimate customers (end users) who buy products for their own use

Organizing

designing the structure of organization and creating conditions and systems in which everyone and everything work together to achieve goals and objectives.

Tactical Planning

developing detailing,short-term statements about wha tis to be done, who is to do it, and how. Planning for about a year

Middle Management

the level of management that includes general managers, division managers, and branch and plan managers. Responsbible for controlling and tactical planning

Transparency

the presentation of the company's facts and figures in a way that is clear that apparent to all stake holders

Management

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

CEO

top inducting change

Organization Chart

visual device that shows relationship among people and divides the organziations work, it shows who reports to who

Internal Processes

what areas of the firm must excel in order to succeed, use information systems to monitor business processes

Customer Measures

what measures of performance are critical for satisfying the firm's customers (time, quality, service)

Innovation and Improvement

whether the firm is continuing to improve and add to value