MGG150 - Exam 2
What does the conversion process do?
converts ideas and resources into useful goods and services
What does the first line manager do?
coordinates and supervises the activities of operating employees
What is product design?
creating a set of specifications from which a product can be produced
What is job design?
dividing the work that is to be done by the entire organization into separate parts
What is the difference between goals and objectives?
objectives are the steps to achieve the long term goals
What is a tall organization?
organization w/ narrow span in which only two people report to the top guy (falling out of favor)
What is a flat organization?
organization w/ wide span in which everybody reports to one person (this is the trend now)
What is often called the first management function?
planning
What are the 4 parts of the management process?
planning, organizing, leading and motivating, controlling
What are the four impediments to problem-solving that we mentioned?
preconceptions about the problem; focusing on unimportant matters while overlooking significant issues; analyzing symptoms rather than causes; failing to look ahead
What is management?
process of coordinating people and other resources to achieve the goal of an organization
What's the role of an administrative (or general) manager?
provide overall administrative guidance and leadership; not associated w/ any specific functional area
How do we define motivating?
providing reasons for people to work hard in the best interest of an organization
What is the "blast! then refine" strategy of generating alternatives?
reevaluating objectives, modifying them if necessary, and devising a new solution to a recurring problem
What are the four steps managers take in planning for production?
research and development; design planning; facilities planning; operational planning
What's the role of a marketing manager?
responsible for facilitating the exchange of products between an organization and its customers or clients
What's the role of a financial manager?
responsible for organization's financial resources
What are the three steps of the control function?
setting standards, measuring actual performance, taking corrective action
What are technical skills?
skills needed to accomplish a specialized activity
What kind of organizations benefit most from organization charts and why?
small organizations benefit; it's difficult to accurately chart so many positions that are continually changing
What do solid and dotted lines represent on an organization chart?
solid lines represent chain of command; dotted lines represent an advisory position
Which of a firm's SWOTs are inside and are outside the company?
strengths and weaknesses are inside, opportunities and threats are outside
How do we define utility?
the ability of a good or service to satisfy a human need
How do we define leadership?
the ability to influence others
How do we define capacity?
the amount of products or services that an organization can produce in a given time
How do we define directing?
the combined processes of leading and motivating
What is the point of having three levels of management?
the coordinate effort of all three levels of managers is required to implement the goals of any company
What is design planning?
the development of a plan for converting an idea into an actual product or service
What are financial resources?
the funds an organization uses to meet its obligations to investors and creditors
How do we define organizing?
the grouping of resources and activities to accomplish some end result in an efficient and effective manner
What is a SWOT analysis?
the identification and evaluation of a firm's Strengths, Weaknesses, Opportunities, and Threats
What are information resources?
the information about external business environmental conditions that a firm uses to its competitive advantage
What does the "POLC" rule describe?
the management process
What is the span of management (span of control)?
the number of workers who report directly to one manager
What are human resources?
the people who staff an organization and use the other resources to achieve the goals of the organization
What is facilities planning?
the process of determining where products or services are to be produced, the factors used to determine an existing factory or construct a new one
What is strategic planning?
the process of establishing an organization's major goals and objectives and allocating the resources to achieve them
What is a product life cycle?
the rise and fall pattern of sales associated w/ the introduction and acceptance of a product in the marketplace
What is job specialization?
the separation of all organizational activities into distinct tasks, and the assignment of those distinct tasks to different people
What are material resources?
the tangible and physical resources an organization uses
Why do firms use more than one base for departmentalizaiton?
they use more than one basis for to improve efficiency and avoid overlapping positions
What is the purpose of manufacturing?
to provide utility to customers
What are the three levels of management?
top manager, middle manager, first line manager
What is form utility?
utility created by people converting raw materials, people, finances, and information into finished products (forms, things they want)
In relation to facilities planning, when is the process layout used?
when small batches of diff products are created or when working on different parts of a product (car in need of repairs; each repair has arrows to all the other repairs)
What are conceptual skills?
ability to think in abstract terms
What are interpersonal skills?
ability to deal effectively w/ other people
What are analytics skills?
ability to identify problems, generate alternative solutions, and select the best solution
What are communication skills?
ability to speak, listen, and write effectively
What are three things associated with manufacturing's conversion process and what are they?
FOCUS (the resource or resources that make up the major or most important input; financial resources, material, information, people); MAGNITUDE OF CHANGE (degree to which things are physically changed); NUMBER OF PRODUCTION PROCESSES (which varies)
What does the conversion process look like?
INPUTS → CONVERSION (develop specifications to convert an idea to a good or service -> planning for production -> actual production, evaluate quality) → OUTPUTS
What is one organization's mission statement?
Red Lobster, nourish and delight everyone we serve
What is an organization chart?
a diagram that represents the positions and relationships w/in an organization (reveals who reports to who)
What is a product line?
a group of similar products that differ only in relatively minor characteristics
What is an organization?
a group of two or more people working together to achieve a common set of goals
What is an operations manager?
a person who manages systems that convert resources into goods and services
What is the entrepreneurial style of leadership?
a personality based lifestyle; the manager seeks to inspire workers w/ a vision of what can be accomplished to benefit all stakeholders
What is the difference between a problem and an opportunity?
a problem is the discrepancy between an actual condition and a desired condition; an opportunity is a "positive" problem
What is the type of economy we have referred to as?
a service economy
What is our definition of an objective?
a specific statement detailing what an organization intends to accomplish over a shorter period of time
What is a mission statement?
a statement of the basic purpose that makes an organization different from others
What is the autocratic style of leadership?
a task oriented style; workers are told what to do and how to do it, they have no say in the decision making process
What is operations management?
all activities required to produce goods and services
What is the participative style of leadership?
all members of a team are involved in identifying essential goals and developing strategies to reach those goals
What is a service economy?
an economy in which more effort is devoted to the production of services than to the production of goods
What is our definition of a goal?
an end result that an organization is expected to achieve over a one- to ten- year period
What are core competencies?
approaches and processes that a company performs well and may give it an advantage over its competitors, a strength of a company
What are the three styles of leadership?
autocratic, participative, entrepreneurial
What are three ways of generating alternatives in decision making?
brainstorming; blast! then refine; trial and error
How do managers achieve the goals of the organization?
by coordinating the organization's resources (material, human, financial, informational)
What are the five common bases for departmentalization?
by function, by product, by location, by customer, combinations
What is satisficing?
choosing an alternative that is not the best possible solution, but one that adequately solves the problem
What are the 5 key management skills?
conceptual skills, analytic skills, interpersonal skills, technical skills, communication skills?
How do we define planning?
establishing organizational goals and deciding how to accomplish them
What is controlling?
evaluating and regulating ongoing activities to ensure that goals are achieved
What are the areas of management specialization?
finance, operations, marketing, human resources, administration, other (e.g. research and development)
What are the two different types of leadership?
formal leadership and informal leadership
What are SMART goals?
goals that are Specific, Measurable, Attainable, Relevant, and Time-based
What is the "combination of bases" base for departmentalization?
grouping all activities related to a particular good or service
What is departmentalization?
grouping jobs into manageable units
What does the top manager do?
guides and controls the overall fortunes of an organization
What is one way a mission statement guides members of a company?
higher ups know what goals and objectives to set for themselves
In planning for production, how do managers incorporate human resources?
human resources manager and operations manager must work together to identify appropriate skills, who has those skills, and develop a training program
What are the major steps in the managerial decision making process?
identifying the problem or opportunity → generating alternatives → selecting an alternative → implementing and evaluating the solution
What does the middle manager do?
implements the strategy and major policies developed by top management
What is product refinement?
improving a product's performance characteristics to increase its utility to consumers
What is product extension?
improving and adding additional performance features that extend the want-satisfying capability of the product and its life cycle in the market
How do we define leading?
influencing people to work toward a common goal
What three things does effective leadership depend on?
interaction among the employees, characteristics of the work situation, the manager's personality
What is important to note about the management process?
it is not a step-by-step procedure, but a process w/ a feedback loop (review and modify) that represent a flow
What are the three major considerations for organizing a business?
job design, departmentalization, and span of management
What are three alternatives to job specialization?
job rotation (systematically shifts employees from one job to another), job enlargement, job enrichment
What is the difference between labor-intensive technology and capital-intensive technology?
labor-intensive technology is a process in which people do most of the work; capital-intensive technology is a process in which machines and equipment do most of the work
What is the difference between leadership and management?
leadership is the ability to influence others, you don't have to be a manager to have leadership
What are the seven factors influencing the location decision for a production facility?
locations of major customers; availability of skilled and unskilled labor; quality of life for employees and management; cost of land and construction; taxes, environmental regulations, zoning laws; financial incentives from a local and state government; special requirements for resources
What's the role of a human resource manager?
manage an organization's human resources programs
What's the role of an operations manager?
manage the systems that convert resources into goods and services
Why are information resources important?
managers can't make a decision unless they know what's going on
What are the four main resources of management?
material resources, human resources, financial resources, informational resources
Which leadership style is best?
no one right answer; it depends on the leader, the employees, the situation