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
