Ch 7 - Management and Leadership

The process of preparing alternative courses of action that may be used if the primary plans do not achieve the organization's objectives

contingency planning

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

control

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

control

Leadership style that consists of managers and employees working together to make decisions; usually does increase job satisfaction

participative (democratic) leadership

2 fundamental questions asked when planning:

1. What is the situation now? 2. How can we get to our goal from here?

Weaknesses and strengths are more often _____ and therefore more within reach of being measured and fixed

internal

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

internal customers

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

knowledge management

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

staffing

_____ are responsible for introducing change into an organization. The _____ is responsible for putting those changes into effect.

CEOs; COO

The _____ is responsible for obtaining funds, planning budgets, collecting funds, and so on

CFO

The _____ or _____ is responsible for getting the right information to other managers so they can make correct decisions

CIO; CKO

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

PMI

A planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats

SWOT analysis

_____ and _____ are often the foundations for control systems because they provide the numbers management needs to evaluate progress

accounting; finance

Skills that involve the ability to picture the organization as a whole and the relationships among its various parts

conceptual skills

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

autocratic leadership

3 of the most commonly recognized leadership styles:

autocratic leadership, participative (democratic) leadership; free-rein leadership

The amount of data gathered has grown so much that the term _____ has become a popular term to describe the vast collection of available information

big data

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

brainstorming

CEO

chief executive officer

CFO

chief financial officer

CIO

chief information officer

CKO

chief knowledge officer

COO

chief operating officer

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

controlling

_____ planning is a part of contingency planning that anticipates sudden changes in the environment

crisis

Choosing among two or more alternatives

decision making

Six D's of decision making: 1. _____ the situation 2. _____ and collect needed information 3. _____ alternatives 4. _____ which alternative is best 5. _____ what is indicated (begin implementation) 6. _____ whether the decision was a good one, and follow up

define; describe; develop; decide; do; determine

The trend today is to empower employees, this function was once known as _____ - telling employees exactly what to do

directing

_____ includes giving assignments, explaining routines, clarifying policies, and providing feedback on performance

directing

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

empowerment

Giving workers the education and tools they need to make decisions. It is the key to success of empowerment.

enabling

Opportunities and threats are often _____ to the firm and cannot always be anticipated

external

Dealers, who buy products to sell to others, and ultimate customers (or end users), who buy products for their own personal use

external customers

Leadership style that involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives. Often the most successful leadership style in certain organizations, such as those in which managers supervise doctors, professors, engineers, or other professionals.

free-rein leadership

The broad, long-term accomplishments an organization wishes to attain. Setting of these is often a team process.

goals

The mission statement becomes the foundation for setting specific _____ and _____

goals; objectives

The number one trait that other look for in a leader is _____. The second requirement is that the leader be _____.

honesty; forward looking

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

human relations skills

Staffing is becoming part of each manager's assignment, and all managers need to cooperate with _____ to win and keep good workers

human resource management

The first step to developing a knowledge management system is determining what knowledge is most _____

important

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

leading

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

management

_____ strive to produce order and stability, whereas _____ embrace and manage change

managers; leaders

The level of management that includes general managers, division managers, and branch and plant managers who are responsible for tactical planning and controlling

middle management

An outline of the fundamental purposes of an organization

mission statement

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

objectives

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

operational planning

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

organizing

Controlling consists of 5 steps: 1. establishing clear _____ standards 2. monitoring or recording actual _____ or _____ 3. comparing results against _____ and _____ 4. communicating results and deviations to the appropriate _____ 5. taking corrective _____ when needed and providing positive _____ for work well done

performance; performance; results; plans; standards; employees; action; feedback

A management function that includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives

planning

Executives find _____ to be their most valuable tool

planning

What are the four functions of management?

planning, leading, organizing, controlling

The process of solving the everyday problems that occur. Less formal than decision making and usually calls for quicker action.

problem solving

_____ teams are two or more workers assigned to solve a specific problem

problem-solving

Traditional measures of success are usually financial - they define success in terms of _____ or _____

profits; return on investment

_____ leaders empower employees to make decisions of their own

progressive

_____ decision-making model is a series of steps managers often follow to make logical, intelligent, and well-founded decisions

rational

A mission statement should address: 1. the organization's _____ 2. its _____ 3. long-term _____ needs 4. _____ needs 5. _____ responsibility 6. nature of the _____ or _____

self-concept; philosophy; survival; customer; social; product; service

A truly successful leader has the ability to adopt the leadership style most appropriate to the _____ and the employees

situation

The process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals. This form of planning is nearly becoming obsolete today.

strategic planning

Four forms of planning:

strategic, tactical, operational, contingency

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

supervisory management

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. Managers or teams of managers at lower levels of the organization normally make these plans.

tactical planning

The trend today is to have planning _____ to help monitor the environment, find business opportunities, and watch for challenges

teams

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

technical skills

3 categories of skills that a manager must have:

technical skills, human relations skills, conceptual skills

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

top management

The presentation of a company's facts and figures in a way that is clear and apparent to all stakeholders

transparency

An encompassing explanation of why the organization exists and where it's trying to head. It gives the organization a sense of purpose and a set of values that unite workers in a common destiny

vision

Leaders must: 1. Communicate a _____ and rally others around that _____ 2. Establish corporate _____ 3. Promote corporate _____ 4. Embrace _____ 5. Stress _____ and _____

vision; vision; values; ethics; change; accountability; responsibility

People entering management today are different from those who entered in the past. Leaders of Fortune 100 companies tend to be _____, more of them are _____, and fewer of them were educated at _____ universities

younger; female; elite