Intro to Mgmt - Chapter 1 Part 1
What are the two ways that organizations group their managers in order to perform the four managerial tasks efficiently and effectively?
1. By level in hierarchy 2. By type of skill
What are the three steps involved in planning?
1. Deciding which goals the organization will pursue. 2. Deciding what strategies to adopt to attain those goals. 3. Deciding how to allocate organizational resources to pursue the strategies that attain those goals.
What are two qualities that effective managers have?
1. Effective managers are those who choose the right organizational goals to pursue 2. Effective managers have the skills to utilize resources efficiently.
What are the three levels of managers?
1. First-line managers 2. Middle managers 3. Top managers
What two parts make up the performance level of an organization?
1. How effective the organization is 2. How efficient the organization is
What do all managers have in common?
1. Managers all work in organizations. 2. Managers are the people responsible for supervising and making the most of an organization's human and other resources to achieve its goals.
What are the four essential manager tasks that managers do to achieve the goal of helping an organization make the best use of its resources?
1. Planning 2. Organizing 3. Leading 4. Controlling
Why is the study of management currently so popular?
1. Understanding what managers do and how they do it is of central importance to understanding how a society creates wealth and affluence for its citizens. 2. Studying management helps people deal with their bosses and their workers better and solve conflicts between them, achieve team goals, and increase performance. 3. Studying management and earning an MBA can give people a better paying job.
What is a department?
A department is a group of managers and employees who work together because they possess similar skills and experience or use the same kind of knowledge, tools, or techniques to perform their jobs.
What is a manger's responsibility?
A manager's responsibility is to ensure that an organization and its members perform as efficiently as possible all the work activities needed to provide goods and services to customers.
What 12 things do an organization's resources include?
An organization's resources include assets such as: 1. People 2. People's skills 3. People's know-how 4. People's experience 5. Machinery 6. Raw materials 7. Computers 8. Information technology 9. Patents 10. Financial capital 11. Loyal customers 12. Loyal employees
What is an organization's vision?
An organization's vision is a short, succinct, and inspiring statement of what the organization intends to become and the goals it is seeking to achieve.
What is the controlling task?
Controlling is evaluating how well an organization is achieving its goals and taking action to maintain or improve performance.
What is effectiveness?
Effectiveness is a measure of the appropriateness of the goals that managers have selected for the organization to pursue and the degree to which the organization achieves those goals.
What is efficiency?
Efficiency is a measure of how productively resources are used to achieve a goal.
What are first-line managers responsible for?
First-line managers are responsible for daily supervision of the non-managerial employees who perform the specific activities necessary to produce goods and services.
Who do first-line managers report to?
First-line managers report to middle managers
What are input resources?
Input resources are labor, raw materials, and component parts
What is the leading task?
Leading is articulating a clear vision and energizing and enabling organizational members so they understand the part they play in achieving organizational goals.
What is management?
Management is the planning, organizing, leading, and controlling of human and other resources to achieve organizational goals efficiently and effectively.
Who do middle managers report to?
Middle managers report to top managers
How does organizational performance increase?
Organizational performance increases directly in proportion to efficiency and effectiveness
What is organizational performance?
Organizational performance is a measure of how efficiently and effectively managers use available resources to satisfy customers and achieve organizational goals.
What is the organizational structure?
Organizational structure is a formal system of task and reporting relationships that coordinates and motivates organizational members so they work together to achieve organizational goals.
What is one of the most important goals that organizations and their members try to achieve and provide?
Organizations and their members try to provide some good or serve that customers value or desire.
What are organizations?
Organizations are collections of people who work together and coordinate their actions to achieve a wide variety of goals or desired future outcomes.
When are organizations effective?
Organizations are effective when managers choose appropriate goals and then achieve them.
What are two ways that organizations are efficient?
Organizations are efficient when: 1. Managers minimize the amount of input resources AND/OR 2. Managers minimize the amount of time needed to produce a given output of goods or services.
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What is strategy?
Strategy is a cluster of decisions about what goals to pursue, what actions to take, and how to use resources to achieve goals.
What is another name for first-line manager?
Supervisor
What is the job of management?
The job of management is to help an organization make the best use of its resources to achieve its goals.
What is the organizing task?
The organizing task is structuring working relationships so organizational members interact and cooperate to achieve organizational goals.
What is the outcome of organizing?
The outcome of organizing is the creation of an organizational structure.
What is the planning task?
The planning task involves managers identifying and selecting appropriate organizational goals and courses of action.