Intro to Business: Chapter 6 & 7

What does delegation of authority do?

Frees a manager to concentrate on larger issues such as planning or dealing with problems and opportunities

What is Authentic Leadership?

Passionate about goals and mission of company, display corporate values in the workplace, form long-term relationships with stakeholders

What are the functions of management?

Planning, Organizing, Staffing, Directing, Controlling

If you are ever lost at sea, what is the most important thing you should have with you?

Shaving Mirror

What are the differences between teams and groups?

Teams 1. Has shared leadership roles 2. Has individual and group accountability 3. Has a specific purpose that the team itself delivers 4. Creates collective work products 5. Encourages open-ended discussion and active problem-solving meetings 6. Measures performance directly by assessing collective work products 7. Discusses, decides, and does real work together Groups 1. Has strong, clearly focused leader 2. Has individual accountability 3. Has the same purpose as the broader organizational mission 4. Creates individual work products 5. Runs efficient meetings 6. Measures effectiveness indirectly by its effects on others 7. Discusses, decides, and delegates

What is Organizational Structure?

The arrangement or relationship of positions within an organization

What are the definitions of accountability?

- Being responsible for something - Being answerable for your actions

What are some informal examples of organizational culture?

- Dress code & work habits - Discussions with co-workers - Extracurricular activities and stories - Location

Describe the difference between the types of Departmentalization

- Functional Departmentalization 1. The grouping of jobs that perform similar functional activities, such as finance, manufacturing, marketing, and human resources - Product Departmentalization 1. The organization of jobs in relation to the products of the firm - Geographical Departmentalization 1. The grouping of jobs according to geographic location, such as state, region, country, or continent - Customer Departmentalization The arrangement of jobs around the needs of various types of customers

What is nonverbal communication?

- Indirect forms of communication that can be more informative than the direct message being transmitted

Name the elements of Organizational Chart's visual display

- The organizational structure - Lines of authority (chain of command) - Staff relationships - Permanent committee arrangements - Lines of communication

1. What are the levels of the Management Pyramid (from top to bottom)?

- Top Management (president, CEO, executive vice president) - Middle Management (plant managers, division managers, dept managers) - First-Line Management (foreman, supervisors, office managers)

1. What are the resources that organizations utilize to effectively pursue objectives and coordinate use to turn out final goods and services?

- employees - acquiring supplies - financial resources

What is organizational culture?

A firms shared values, beliefs, traditions, philosophies, rules, and role models for behavior

What does CEO stand for?

Chief Executive Officer

What does CFO stand for?

Chief Financial Officer

What does COO stand for?

Chief Operations Officer

What is grouping of jobs into working units usually called departments, units, groups, or divisions called?

Departmentalization

What is Democratic Leadership?

Involves employees in decisions

What is Free-rein Leadership?

Let employees work without much interference; setting performance standards and letting employees find their own way to meet them

What is Autocratic Leadership?

Making all the decisions then telling employees what must be done and how to do it

What is the process designed to achieve an organization's objectives by using its resources effectively and efficiently in a changing environment called?

Management

Who are the individuals in organizations who make decisions about the use of resources and who are concerned with planning, organizing, staffing, directing and controlling the organization's activities to reach its objectives?

Managers

1. What are some formal examples of organizational culture?

• Mission statement • Code of ethics • Methods & manuals • Ceremonies