MGMT: CHAP 7

Leading

Creating vision for organization & guiding, training, coaching, and motivating others to work effectively to achieve goals/objectives

Enabling

Giving workers education and tools they need to make decisions

SWOT Analysis

Planning tool used to analyze organization strengths, weaknesses, opportunity, threasts

Transparency

Presentation of companys facts/figures in clear/apparent way to all stockholders

Objectives

Specific, short term statements detailing how to achieve organizations goals

Goals

Broad, long term accomplishments an organization wishes to attain

Decision Making

Choosing 2+ alternatives

External Customers

Dealers, who buy products to sell to others and ultimate customers who buy products for their own personal use

Vision

Encompassing explanation of why organization exists, and where its trying to lead

Knowledge Management

Finding right info, keeping info in accessible place, making info known to everyone in firm

Free Rein Leadership

Leadership style involves managers setting objectives, employees being relatively free to do whatever it takes to accomplish objectives

Planning

Mgmt function includes anticipating trends, determining best strategies and tactics to achieve organizational goals and objectives

Democratic Leadership

Leadership style consists of managers and employees working together to decide

Autocratic Leadership

Leadership style involves making managerial decisions without consulting others

Conceptual Skills

Skills involve ability to picture organization as a whole and relationship among various parts

Technical Skills

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

HR Skills

Skills that involve communication & motivation; enable managers to work through people

Brainstorming

Coming up with as many ideas as possible in a short period with no idea censoring

Top Management

Highest level of mgmt, consisting of pres and other key company execs who develop strategic plans

Internal Customers

Individuals and units within firm that receive services from other units

PMI

Listing all Pluses, Minuses, and Implications in separate columns

Supervisory Management

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

Organizing

Mgmt function includes designing structure of organization, creating conditions and systems in which everyone/everything work together to achieve organizations goals/objectives

Staffing

Mgmt function includes hiring, motivating, retaining best people available to accomplish company objectives

Controlling

Mgmt function that involves establishing clear standards to determine whether or not organization is progressing toward goals and objectives, rewarding people for doing a good job, and taking corrective action if they aren't

Middle Management

Mgmt level includes general managers, division managers, branch/plant managers responsible for tactical planning/controlling

Mission Statement

Outline of fundamental purposes of organization

Strategic Planning

Process of determining major goals of organization & policies & strategies for obtaining/using resources to achieve goals

Tactical Planning

Process of developing detailed, short term statements about whats to be done, who, how it will be done

Contingency Planning

Process of preparing alternative courses of action that may be used if primary plans don't achieve organizations objectives

Operational Planning

Process of setting work standards and schedules necessary to implement company tactical objectives

Problem Solving

Process of solving everyday problems that occur

Management

Process used to accomplish organizational goals through planning, organizing, leading, controlling people

Organization Chart

Visual device that shows relationships among people, dives organizations work, shows who reports to whom