TEST 3: Chapter 7, Management & Leadership TEXT

can think of leadership as a ___ along which ____ varies

continuum... employee participation

knowledge management

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

leadership styles

1) autocratic, (2) participative / democratic, (3) free-rein

internal customers

individuals and units within the firm that receive services from other individuals or units; example: the field salespeople are the internal customers of the marketing research people who prepare market reports for them

problem solving techniques

(1) brainstorming, (2) PMI

conceptual skills

skills that involve the ability to picture the organization as a whole and the relationship among its various parts

objectives

specific, short-term statements detailing how to achieve the organization's goals

roles of leaders

(1) communicate a vision and rally others around that vision, (2) establish corporate values, (3) promote corporate ethics, (4) embrace change, (5) stress accountability and responsibility

The 7 D's of decision-making

(1) define the situation, (2) describe and collect needed information, (3) develop alternatives, (4) develop agreement among those involved, (5) decide which alternative is best, (6) do what is indicated - begin implementation, (7) determine whether the decision was a good one, and follow up

5 steps of controlling

(1) establish clear performance standards - part of the planning function!, (2) monitor and record performance, (3) compare results against standards, (4) communicate results, (5) if needed, take corrective action

forms of planning

(1) strategic planning, (2) tactical planning, (3) operational planning, (4) contingency planning

3 categories of skills that a manager must have

(1) technical skills, (2) human relations skills, (3) conceptual skills

levels of management (top to bottom)

(1) top management - president, vp's, (2) middle management - plant managers, division heads, branch managers, (3) supervisory (first-line) management - supervisors, foremen, department heads, section leaders, (4) nonsupervisory - employees

problem solving teams

2 or more workers assigned to solve a specific problem

management

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

planning

a management function that includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives; a continuous process; answers the questions (1) what is the situation now?, and (2) how can we get to our goal from here?

organizing

a management function that includes designing the structure of the organization and creating conditions and systems in which everyone and everything works together to achieve the organization's goals and objectives

staffing

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

controlling

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

SWOT analysis

a planning tool used to analyze an organization's internal strengths, internal weaknesses, external opportunities, and external threats

rational decision-making model

a series of steps managers often follow to make logical, intelligent, and well-founded decisions

organization chart

a visual device that shows relationships among people and divides the organization's work; it shows who reports to whom

vision

an encompassing explanation of why the organization exists and where it's trying to head

mission statement

an outline of the fundamental purposes of an organization; it should address (1) the organization's self-concept, (2) its philosophy, (3) long-term survival needs, (4) customer needs, (5) social responsibility, (6) nature of the product or service

policies

broad guidelines for action

management

carrying out the leader's vision

CEO

chief executive officer; often also the president of the firm and is responsible for all top-level decisions; responsible for introducing change into an organization

CFO

chief financial officer; responsible for obtaining funds, planning budgets, collecting funds, etc.

CIO, CKO

chief information officer, sometimes known as the "CKO" (chief knowledge officer); responsible for getting the right information to other managers so they can make correct decisions

COO

chief operating officer; responsible for putting changes into effect

decision-making

choosing among two or more alternatives; at the heart of all management functions

brainstorming

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

top managers need primarily .... skills

conceptual

leadership

creating a vision for others to follow, establishing corporate values and ethics, and transforming the way the organization does business in order to improve its effectiveness and efficiency

leading

creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organization's 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

decisions on the spot

decisions made even though little information is available

strategies

determine the best way to use resources

leaders

embrace and manage change

#2 trait that others look for in a leaders ___

forward-looking

empowerment

giving employees the authority to make a decision without consulting the manager, and the responsibility to respond quickly to customer requests

directing

giving explicit instructions to workers, telling them what to do to meet the goals and objectives of the organization

enabling

giving workers the education and tools they need to make decisions; key to the success of empowerment

top management

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

#1 trait that others look for in a leader is ____

honesty

participative (democratic) leadership

leadership style that consists of managers and employees working together to make decisions; employee participation may not always increase effectiveness, but it usually does increase job satisfaction

autocratic leadership

leadership style that involves making managerial decisions without consulting others; effective in emergencies and when absolute followership is needed; also effective sometimes with new, relatively unskilled workers who need clear direction and guidance

free-rein leadership

leadership style that involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives; most successful leadership style for organizations in which managers supervise professionals (doctors, professors, engineers, etc.)

PMI

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

supervisory management

managers who are directly responsible for supervising workers and evaluating their daily performance; also known as "first-line managers" or "supervisors"

control function

measures performance relative to the planned objectives and standards, rewards people for work well done, and takes corrective action when necessary

control process

provides the feedback that lets managers and workers adjust to deviations from plans and to changes in the environment that have affected performance

human relations skills

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

technical skills

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

managers

strive to produce order and stability

1st-line managers need primarily ... skills

technical

directing

telling employees exactly what to do

goals

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

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; recently, firms have been eliminating these managers

transparency

the presentation of a company's 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; looks at the organization as a whole; in today's rapidly changing environment, this is becoming more difficult; the goal is to be flexible and responsive to the market

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

contingency planning

the process of preparing alternative courses of action that may be used if the primary plans don't achieve the organization's objectives

operational planning

the process of setting work standards and schedules necessary to implement the company's tactical objectives; focuses on specific supervisors, department managers, and individual employees

problem solving

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

which leadership style is best depends on:

what the goals and values of the firm are, who's being led, and in what situations