Chapter 6
Kendra is considering opening a new business. While writing the business plan, she is answering the following questions: What external success factors affect the industry? How does her business measure up to competition? What can my bakery do to survive and prosper during a recession? What was Kendra performing?
SWOT analysis
a planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats.
SWOT analysis
The management function that anticipates trends, then determines strategies and tactics to achieve them is
Planning
is a key management function because accomplishing the other functions depends heavily on it.
Planning
The definition of ______ ______ states: the process of developing detailed, short-term statements about what is to be done, who is to do it, and how.
tactical planning
A mission statement should address an organization's...
Self-concept. Philosophy. Long-term survival needs. Customer needs. Social responsibility. Nature of its product(s) or service(s).
Why is planning a key management function?
Accomplishing the other functions depends heavily on having a good plan.
______ leadership is a leadership style that involves making managerial decisions without consulting others.
Autocratic
Those managers considered as top management in an organization would include the Multiple select question. Chief Financial Officer Chief Operating Officer Chief Executive Officer The Plant Manager
Chief Financial Officer Chief Operating Officer Chief Executive Officer
Choosing between buying more inventory for her bike shop or hiring another employee requires Gail to make a(n) _________
Decision
The definition of ______ ______ states: choosing among two or more alternatives.
Decision making
the tasks that are associated with the planning function of management
Developing strategies to reach those goals Setting organizational goals Determining resources needed
is creating a vision for others to follow, establishing corporate values and ethics, and transforming the way an organization does business in order to improve its effectiveness and efficiency.
Leadership
________ is the process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources
Management
Who performs tactical planning in an organization? !!
Managers or teams of managers at lower levels
What task is associated with the leading function of management?
Motivating employees to accomplish organization goals
short-term statements detailing how to achieve the organization's goals.
Objectives
The definition of ______ ______ states: the process of setting work standards and schedules necessary to implement the company's tactical objectives.
Operational planning
Which of the following are part of a situation analysis (SWOT)? Multiple select question. Weaknesses Relationships Opportunities Strengths
Opportunities Strengths Weaknesses
The ______ function of management designs the structures and systems in which everyone works together to achieve the organization's goals and objectives.
Organizing
Sara gave her employees the education and tools they need to make decisions on their own. She is now confident that her employees will be able to handle more tasks independently, without extensive managerial assistance. What can be said about Sara? Multiple choice question. She is a lazy manager. She understands that enabling leads to empowerment. She does not trust her employees. She has an old-fashioned management style.
She understands that enabling leads to empowerment.
The definition of ______ states: a management function that includes hiring, motivating, and retaining the best people available to accomplish the company's objectives.
Staffing
The definition of ______ ______ states: the process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals.
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 is called...
Strategic planning
The type of planning done mostly by top management is
Strategic planning
the process of developing detailed, short-term statements about what is to be done, who is to do it, and how.
Tactical planning
Currently, the leadership trend is to empower employees. When a leader empowers employees, that leader is giving them:
as much freedom as possible to become self-directed and self-motivated
External customers include Multiple select question. dealers end users other employees in the firm employees in the accounting department
dealers end users
When you give employees as much freedom as possible to become self-directed and self-motivated you ______ them
empower
David's manager told him the company wants to achieve a 50 percent market share within 5 years. David's manager was relaying a company:
goal
the broad, long-term accomplishments an organization wishes to attain
goals
Tactical plans that are detailed and short term state
how it will be done who is to do it what is to be done
The definition of ______ ______ skills states: skills that involve communication and motivation; they enable managers to work through and with people.
human relations
______ ______ is finding the right information, keeping information in a readily accessible place, and making the information known to everyone in the firm.
knowledge management.
The difference between leaders and managers is that ______ establish a vision and corporate values, while _______ carry out that vision.
leaders and managers
_________ is 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
an outline of the fundamental purpose and basic philosophy of an organization.
mission statement
The daily and weekly plans used by department managers are:
operational plans
Allocating resources, preparing a structure, recruiting, selecting, and placing employees where they will be most effective are tasks associated with the __________ function of management.
organization
Technical skills are the ability to... train, develop, and support workers perform tasks such as filing tax forms or assembling a keyboard visualize the organization as a whole and how departments interrelate communicate and motivate other people
perform tasks such as filing tax forms or assembling a keyboard
A SWOT Analysis is a(n) ______ tool used to analyze an organization's strengths, weaknesses, opportunities, and threats.
planning
Tactical planning deals with:
setting annual budgets and deciding on activities to meet strategic objectives
The definition of ______ _________ states: highest level of management, consisting of the president and other key company executives who develop strategic plans.
top management
______ is a broad explanation of why the organization exists and where it is trying to go
vision
a task you do for a specified period in a specific place or something you do anywhere, anytime
work