Final Exam Business 201

Types of goals that one should have: Operational Goals (Ch. 7 & 9)

They are precise and measurable.

What are the Management types? (Ch. 1)

Top Managers, Middle Managers, First-Line Managers, Non-managerial Employees.

Top Managers? (Ch. 1)

Top of the hierarchy and are responsible across the entire organization. Responsible for setting goals, defining strategies and monitoring. Look for long-term future and concern themselves with general environmental trends.

What is the Leading function about? (Ch. 1)

Use of influence to motivate employees to achieve organizational goals. Directing the work activities of others.

Middle Managers? (Ch. 1)

Work at middle levels of the organization and are responsible for business units and major departments. Responsible for implementing the overall strategies and policies defined by top managers. Concerned with near future rather than long-range planning.

Standing plans? (Ch. 7 & 9)

Are ongoing plans that provide guidance for tasks or situations that occur repeatedly within the organization.

Task Environments: Competitors (Ch. 3 & 4)

Are organizations within the same industry or type of business that vie for the same set of customers.

Types of goals that one should have: Tactical Goals (Ch. 7 & 9)

Are the results that major divisions and departments within the organization intend to achieve.

What is the Organizing function about? (Ch. 1)

Arranging and structuring work. Assigning tasks to be able to accomplish the task.

What is Conceptual Skills? (Ch. 1)

Cognitive ability to see the organization as a whole system. The ability to analyze complex situations.

What are the skills required for managerial effectiveness? (Ch. 1)

Conceptual Skills, Human Skills and Technical Skills.

What if Efficiency? (Ch. 1)

Costs, outputs to inputs. Refers to the amount of resources used to achieve an organizational goal.

Types of plans that one should have: Strategic Plans (Ch. 7 & 9)

Define the action steps by which the company intends to attain strategic goals.

Examples of names of Middle Managers? (Ch. 1)

Department Head, Division head, manager of quality control, director of research lab.

Types of plans that one should have: Tactical Plans (Ch. 7 & 9)

Designed to help execute the major strategic plans and to accomplish a specific part of the company's strategy. Typically have shorter time horizon than than strategic plans.

Single-use plans (Ch. 7 & 9)

Developed to achieve set goals that are not likely to be repeated in the future.

First- Line Managers? (Ch. 1)

Directly responsible for the production of goods and services. They are the first or second level of management.

What is Effectiveness? (Ch. 1)

Doing the tasks that help the organization reach its goals. Goal Attainment.

Vertical differences between the manager types? (Ch. 1)

First-level managers main concern is facilitating individual performance; Middle managers are concerned less with individuals performance and more with linking groups of people such as allocating resources, etc. For top-level managers the primary focus is monitoring the external environment and determining the best strategy to be competitive.

What are programmed decisions? (Ch. 7 & 9)

Involve situations that have occurred often enough to enable decision rules to be developed and applied in the future.

Task Environments (Ch. 3 & 4)

Is closer to the organization and includes the sectors that conduct day-to-day operations and performances. 1. Customers 2. Competitors 3. Suppliers 4. Labor Market

Certainty (Ch. 7 & 9)

Means that all the information the decision maker needs is fully available. Possible failure.

Uncertainty (Ch. 7 & 9)

Means that managers know which goals they wish to achieve, but information about alternatives and future events is incomplete.

What is the Controlling function about? (Ch. 1)

Monitoring employees' activities, comparing and correcting work performance.

Task Environments: Customers (Ch. 3 & 4)

People and organizations in the environment that acquire goods or services from the organization.

What are the four managerial functions? (Ch. 1)

Planning, Organizing, Leading, and Controlling.

Examples of names of Top Managers?

President, chairperson, executive director, CEO.

Task Environments: Suppliers (Ch. 3 & 4)

Provide the raw materials the organization uses to produce its output.

General Environment: International (Ch. 3 & 4)

Represents events organizing in foreign countries as well as opportunities for U.S. companies in other countries. Provides new competitors, customers, and suppliers and shapes social, technological and economic trends ass well.

Task Environments: Labor Market (Ch. 3 & 4)

Represents people in the environment who can b hired to work for the organization.

General Environment: Socio-Cultural (Ch. 3 & 4)

Represents the demographics characteristics as well as the norms, customs, and values of the general population.

General Environment: Economics (Ch. 3 & 4)

Represents the general economic health of the country or region in which the organization operates.

Describe the types of goals an organization should have. (Ch. 7 & 9)

Should have... 1. Strategic Goals 2. Tactical Goals 3. Operational Goals

Types of goals that one should have: Strategic Goals (Ch. 7 & 9)

Sometimes called official goals. Broad statements describing where the organization wants to be in the future.

What is Technical Skills? (Ch. 1)

Specialized knowledge in a certain area required for work. Mastery of the methods, techniques, and equipment involved in engineering, manufacturing, or finance.

Examples of names of First-Line Managers? (Ch. 1)

Supervisor, line manager, section chief and office manager.

What is Human Skills? (Ch. 1)

The ability to communicate, motivate, mentor and delegate.

Classical Perspective (Ch. 2)

The classical perspective on management emerged during the 19th and early 20th centuries. Which took a rational scientific approach to management and sought to make organizations efficient operating machines. (the study of management) •Thus began to evolution of modern management with classical perspective which contains 3 sub-fields: (each different emphasis) -Scientific Management -Bureaucratic Organizations -Administrative Principles

What is the concept of organizational mission? (Ch. 7 & 9)

The organization's reason for existence. The mission describes the organization's values, aspirations, and reason for being.

Define goals (Ch. 7 & 9)

A desired future state that the organization attempts to realize. Important because organizations exist for a purpose. And it defines and states the purpose.

Types of plans that one should have: Operational Plans (Ch. 7 & 9)

Are developed at the lower levels of the organization to specify action steps toward achieving operational goals and to support tactical plans.

What are non-programmed decisions? (Ch. 7 & 9)

Are made n response to situations that are unique, are poorly defined and largely unstructured, and have important consequences for the organization.

Characteristics of effective goals? (Ch. 7 & 9)

1. Be specific and measurable. 2. Defined time period. 3. Cover key result areas. 4. Challenging but realistic. 5. Linked to rewards.

Major management perspectives over time? (Ch. 2)

1. Classical Perspective 2. Humanistic Perspective 3. Quantitative Perspective 4. Systems Thinking 5. Contingency View 6. Total Quality Management 7. The Technology Driven Workplace. 8. Open (Collaborative) Innovation.

Steps in the management by objectives (MBO) process? (Ch. 7 & 9)

1. Set goals. 2. Develop action plans. 3. Review progress. 4. Appraise overall performance.

Define plans (Ch. 7 & 9)

A blueprint for goal achievement and specifies the necessary resources allocations, schedule

Mission Statement? (Ch. 7 & 9)

A broadly stated definition of purpose that distinguishes the organization from others of a similar type.

Explain the relationship between plans and goals. (Ch. 7 & 9)

Goals specify future ends; plans specify today's means.

General Environments: Natural (Ch. 3 & 4)

Growing in importance. Includes all elements that occur naturally on earth, including plants, animals, rocks, and natural resources such as air, water, and climate.

What is the Planning function about? (Ch. 1)

Identifying goals for future organizational performance and ways to achieve it.

General Environment: Legal/Political (Ch. 3 & 4)

Includes government regulations at the local, state, and federal levels, as well as political activities designed to influence company behavior.

General Environments: Technology (Ch. 3 & 4)

Includes scientific and technological advancements in a specific industry as well as in society at large.

General Environments (Ch. 3 & 4)

Inflences the organization over time but often are not involved in day-to-day transactions with it. 1. Technology 2. Natural 3. Socio-cultural 4. Economics 5. Legal/Political 6. International

Scientific Method (Ch. 2)

•Frederick Winslow Taylor is known as the father of Scientific Management •Is a subfield of the classical perspective that emphasizes scientifically determined changes in management practices as the solution to improving labor productivity •Scientific Management is considered one of the most significant innovations influencing modern management Ex. - Some supermarket chains are using computerized systems based on scientific management principles to schedule employees for maximum effciency