Intro to Management test 1
The five components of industry environment are:
1. Customers 2. Competitors 3. Suppliers 4. Regulations 5. Advocacy Groups
Planning
Defining performance goals for the organization and determining what actions and resources are needed to achieve the goals
Studying time and motion studies
Frank and Lillian Gilberth most noted for
Organizing
Function involves deciding how the organization will be structured
A(n) operational plan
Is a detailed plan used to provide a clear picture of how a team, section or department will contribute to the achievement of the organization's strategic goals.
middle managers.
Managers encourage, support, and foster talented employees. The managers who focus in this area are
regulation.
Many companies forbid smoking at work. This is an example of a
Controlling
May be the most important management function. The control process is also described as Feedback loops
Bureaucracy has taken on negative connotations in popular paperwork, apathy and unresponsiveness, slowness in responding to problems, and inflexibility. But most culture. It is associated with excessive organizations use most or all of the principles, because the principles promote
decisions for efficiency and effectiveness instead of favortism and incompetence
Companies strive to provide a product or service that is distinct, or _________________ in some way from their competitors.
differentiated
fixed budget
does not change or flex when sales or some other activity increases or decreases.
The alternative to viewing management as a process is
focus on people.
Strategic Management decides how best to attain a company's mission and vision through the coordinated efforts to achieve specific
goals and objectives.
incompetence Mayo predicted that a group with negative behaviors and fewsocial bonds
have very little chance of succeeding at the task.
Strategic management's first function is deciding
how to compete.
industry analysis
is a method for a company to assess its market position relative to its competitors.
Management as a process means:
planning, organizing, leading, and controlling resources and people to meet organizational goals.
Planning is:
process of continual adjustment
Benchmarking
refers to the technique of comparing performance to similar efforts. The comparison may be to other companies in the same industry, to other industries, or to other time periods.
Strategic management's second function is to make sure
that the people in the organization support the strategy
policies
usually approves broad guidelines for HR activities, like hiring and firing, performance appraisals, Companies need consistency in their HR practices to avoid charges of discrimination. Senior management promotions, and discipline.
Taylor's Four Principles of Scientific Management included what?
1. Scientifically determine the one best way to perform job 2. Hire right worker for each job 3. Monitor Worker performance, provide instruction and training when needed 4. Divide work betweeen workers/management
vertical management.
military organization is very structured. Ranks are very clear, defining who can give and who must take orders. This is an example of
The advantage of a ________ is that it can be very specific in how it addresses the needs of a particular situation.
Single- use plan
top-level managers.
Some managers set long-term goals and define strategies to achieve them.
What does vision mean?
Statement of an organization's over arching aspiration of what it hopes to acheive or to become
SWOT analysis stands for
Stregneths, Weaknesses, Opportunities, and Threats
Controlling
The process of monitering activities, measuring performance, comparing results to objectives, and making modifications and corrections when needed.
What is organizational structure?
Upper Management Middle management - Lower managiment
Leading
Use knowledge, characters, and charisma to generate enthusiasm and inspire effort to acheive goals.
Principles from the bureaucratic school of management
Were orginally designed to prevent favortism and incompetence
The Gnatt chart is a tool that provides a visual (graphic) reprensentation of
What occurs over the course of a project.
The systems approach to management is
akin to the Circle of Life in Disney's movie The Lion King.
a goal and to plan.
Over a period of time, a company can make many transitions. Before each transition, management scanned the environment to choose
Resources are always scarece in organizations, and managers need to make sure the resources they have are used effectively. ________ helps managers determine where resources are most needed so they can be allocated where they will provide the most benefit.
Planning
What does death by planning mean?
Planning can delay or prevent action.
Management activities are often grouped into four categories. These are:
Planning, Organizing, Leading, Controlling
entrepreneur, resource allocator, and negotiator, disturbance handlers
According to Mintzberg, there are four primary types of management decision roles. These include the following:
Michael Porter's Five Forces analysis looks at the forces driving an industry's profitability.
An analyst might use it to compare the relative merits of two different industries.
What is the first step in the planning process?
Define Objecives: determine what it is to be accomplished during the planning period
Which is a limitation of scientific management?
Knowledge-based work can't be observed and broken down for efficiencies like manual labor.