BD ch 7
Objectives
Specific short term statements detailing how to achieve the organization's goals
lag indicators
financial measures that summarive the results of past actions
Knowledge Management
finding the right information, keeping the information in a readily accessibly place, and making the information known to everyone is a firm
CIO
gets information to right people
Enabling
giving workers the education and tools they need to make decesions
Top Managment
highest level of management, consistig of president and other key company executives who develop strategic plans
Financial Measures
how does the company look to stockholds?
Internal Customers
individuals and units within the firm that receive services from other individuals or unites
PMI
listing all the pluses for a solution in one column, the minuses in another, and the impications in the third
Mission Statement
longer than vision, outlines organizations fundamental purposes
Autocratic Leadership
making managerial decesions without consulting others. Efffective in emergencies or with unskilled workes
Planning
managementg function that includes anticipating trends and determining best strategies and tactics to achieve organizational goals and objectives
Partcipiative Leadership
managers and employees working togehter. Increases job satisfaction
Free-Rein Leadership
managers set objectives and employees are free to do what it takes to achieve objectives
Supervisory Management
managers who are directly responsible for supervising workers and evaluating their daily performance
leading indicators
non-financial measures for future financial performance
CFO
obtain funds and budgets
Leading
persuing the vision: guiding, training, coaching, and motivating. Empowering Employees
SWOT Analysis
planning tool used to analyze strengths, weaknesses, opportunities, and threats. Could be in matric form. What is current with both external and internal things
Contingency Planning
preparing alternative courses of action that mayb e used if the primary plans dont achieve goals
Strategic Planning
process of determining the major goals of the organization and the policies and strategies for obtaining and using resources. Plannig for the long range
COO
responsible for putting change into effect
Operational Planning
setting work standard and schedules necessar to implement the company's tactical objectives. Short run
Techincal Skill
skills that involve ability to perform tasks in a specific discipline or department.
Human Relation Skill
skills that involve communication that motivation, they enable managers to work through and with people. Important everywhere
Conceptual Skill
skills that involve the ability to picture the organiztion as a whole an the relationship among its various parts
Four parts of balanced score card
Finanical Measures, Customer Measures, Internal Processes, Innovation and Improvement
The Four Parts of Management
Planning, Organizing, Leading, Controlling
Staffing
a management function that includes hiring, motivating, and retaining the best people available to accomplish goals. Hire slow fire fast
Balanced Score Card
attemps to show in one report the various aspects of performance that are critical to the short and long-term sucess of the organization
Vision
broad explination of why the organization exsists and where its trying to go
Goals
broad, long-term accomplishments an organization wishes to attain
Leaders Must
communicate a vision, establish values, ethics, embrace change, and stress responsibility
Controlling
creating clear standards to determine whetehr or not an organization is progressing toward its goals and objectives
External Customers
dealers, who buy products to sell to others, and uultimate customers (end users) who buy products for their own use
Organizing
designing the structure of organization and creating conditions and systems in which everyone and everything work together to achieve goals and objectives.
Tactical Planning
developing detailing,short-term statements about wha tis to be done, who is to do it, and how. Planning for about a year
Middle Management
the level of management that includes general managers, division managers, and branch and plan managers. Responsbible for controlling and tactical planning
Transparency
the presentation of the company's facts and figures in a way that is clear that apparent to all stake holders
Management
the process used to accomplish organizational goals through planning, organizing, leading and controlling people and other organizational resources
CEO
top inducting change
Organization Chart
visual device that shows relationship among people and divides the organziations work, it shows who reports to who
Internal Processes
what areas of the firm must excel in order to succeed, use information systems to monitor business processes
Customer Measures
what measures of performance are critical for satisfying the firm's customers (time, quality, service)
Innovation and Improvement
whether the firm is continuing to improve and add to value