BUS-101 Test Ch. 7: Management and Leadership
Five Steps of Controlling: "Buzz Words"
1) standards 2) measurement 3) communication 4) feedback
Technical Skills
Ability to perform tasks in a specific discipline or department
Goals
Broad, long-term accomplishments an organization wishes to attain
Chief Executive Officer (CEO)
Introduces change into an organization
Human Relations Skills
Involve communication and motivation; enable managers to work through and with people
Conceptual Skills
Involve the ability to picture the organization as a whole and the relationship among its various parts
Autocratic Leadership
Making managerial decisions without consulting others Example: Military
Participative or Democratic Leadership
Managers and employees work together to make decisions Example: Engineering firms
Free-Rein Leadership
Managers set objectives and employees are free to do whatever is appropriate to accomplish those objectives Example: Google, Apple, etc.
Chief Financial Officer (CFO)
Obtains funds, plans budgets, collects funds, etc.
Mission Statement
Outlines the organization's fundamental purposes
4 Stages of Management
Planning: developing strategies to reach goals Organizing: preparing a structure (organization chart) showing lines of authority and responsibility Leading: guiding and motivating employees to work effectively to accomplish organizational goals and objectives. Controlling: Monitoring performance; taking corrective action when necessary.
Objectives
Specific, short-term statements detailing how to achieve the organization's goals
Forms of Planning
Strategic Planning: broad, long-range goals by top managers Tactile Planning: specific, short-range objectives by lower-level management Operational Planning: setting of work standards and schedules Contingency Planning: backup plans in case primary plan fails
SWOT Analysis
Strengths, Weaknesses, Opportunities, and Threats
Management
Used to accomplish organizational goals through planning, organizing, leading and controlling people