Chapter 7 Lecture Notes

rational

The _____ DECISION-MAKING MODEL is a series of steps managers often follow to make logical, intelligent, and well-founded decisions.

OBJECTIVES

_______ are specific, short-term statements detailing how to achieve the organizational goals.

STRATEGIES

determine the best way to use resources.

planning

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

ENABLING

is giving workers the education and tools they need to make decisions.

TRANSPARENCY

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

MANAGEMENT

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

AUTOCRATIC

----- LEADERSHIP is a leadership style that involves making managerial decisions without consulting others; it is effective in emergencies and when dealing with unskilled workers.

CONCEPTUAL

----- SKILLS involve the ability to picture the organization as a whole and the relationships among its various parts.

VISION

A _____ is an encompassing explanation of why the organization exists and where it is headed; it is more than a goal.

MISSION STATEMENT

A ______ ______ is an outline of the fundamental purposes of the organization.

tactical

An example of _____ planning is setting annual budgets.

PMI

Another technique is ____, listing all the Pluses for a solution in one column, all the Minuses in another, and the Implications in a third column.

delighting

Firms now try to go beyond simply satisfying customers by _______ them with unexpectedly good products and services.

recruiting

In today's high-tech world, _____ GOOD EMPLOYEES is a critical important part of organizational success

teams

Most future managers will WORK IN _____

EXTERNAL

OPPORTUNITIES and THREATS are often _____ to the firm and cannot always be anticipated.

POLICIES

are broad guidelines for action.

CIO

he ___ or CKO is responsible for getting the right information to managers so they can make good decisions. these are more important than ever.

LEADING

means creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organization's goals and objectives in a timely manner.

Managers

must GUIDE, TRAIN, SUPPORT, MOTIVATE, and COACH EMPLOYEES rather than TELLING them what to do.

key

Planning is called the _____ MANAGEMENT FUNCTION because the other functions depend on having a good plan.

INTERNAL

STRENGTHS and WEAKNESSES are _______ to the firm.

CONTROL

The ___ FUNCTION is critical to the management system because it provides the feedback that lets managers adjust to any deviations from plans.

CEO

The ____ is responsible for all top-level decisions in the firm.

CFO

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

COO

The _____ is responsible for putting those changes into effect.

PLANNING TEAMS

The trend today is to have ___ ____ monitor the environment.

Top

___ MANAGERS need fewer technical skills and more human relations and conceptual skills.

HUMAN RELATIONS

____ _____ SKILLS involve communication and motivation; they enable managers to work through and with people.

GOALS

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

SWOT

_____ ANALYSIS is a planning tool used to analyze an organization's Strengths, Weaknesses, Opportunities, and Threats.

EXTERNAL

_____ CUSTOMERS include dealers, who buy products to sell to others, and ultimate customers (or end users), who buy products for their own personal use.

SUPERVISORY

_____ MANAGEMENT includes managers who are directly responsible for supervising workers and evaluating their daily performance; they are also known as first-line managers.

KNOWLEDGE

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

MIDDLE

_____ MANAGEMENTis the level of management that includes general managers, division managers, and branch and plant managers who are responsible for tactical planning and controlling.

TACTICAL

_____ PLANNING is 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.

CRISIS

_____ PLANNING, a part of contingency planning, involves reacting to sudden changes in the environment.

Techincal

_____ SKILLS involve the ability to perform tasks in a specific discipline (such as selling a product) or department (such as marketing).

PARTICIPATIVE

______ (DEMOCRATIC) LEADERSHIP is a leadership style that consists of managers and employees working together to make decisions.

INTERNAL

______ CUSTOMERS are individuals and units within the firm that receive services from other individuals and units.

FREE-REIN

______ LEADERSHIP is a leadership style that involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives It is often successful when dealing with engineers or other professionals.

FIRST-LINE

______ MANAGERS need fewer conceptual skills and more technical and human relations skills.

STRATEGIC

______ PLANNING is the process of determining the major goals of the organization and the policies and strategies needed for obtaining and using resources to achieve those goals.

CONTINGENCY

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

PLANNING

______ involves setting the organizational vision, goals, and objectives.

OPERATIONAL

_______ PLANNING is the process of setting of work standards and schedules necessary to implement the company's tactical objectives.

ORGANIZING

is 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.

STAFFING

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

CONTROLLING

is 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.