Management Test 1

Difference between entrepreneurs and managers

entrepreneur is what it takes to start a business and being a manager is what it takes to grow or maintain a business

team leader

facilitate team activities toward achieving a goal

innovation

finding ways to deliver new or better goods or services

middle manager role

implement those decisions (disrtrict manager, or regional)

Three roles of managers

interpersonal, informational, and decisional

keys to management

1. Being responsive to customers 2. innovation 3. quality 4.efficiency

Seven challenges of managers

1. Need to manage for competitive advantage 2. need to manage for diversity inlace, ethnicity, gender and ect. 3. Manage for the effect of globalization and of information technology 4. manage to maintain ethical standards 5. manage for sustainability 6. manage for your own happiness and life goals 7. manage for information technology

Define organization in reference to management

A group of people who work together to achieve some specific purpose

to have a competitive advantage you must be ahead in what areas

Being responsive to customers, innovate, quality, and efficiency

Efficiency defined

Efficiency is the means of attaining the organization's goals.

Conceptual skills and types of management

Important to top managers who need to deal with ambiguous and far-reached consequences

Intrapreneur

Is a type of entrepreneurship where someone who works inside an existing organization who sees an opportunity for a product or service and mobilizes the organization's resources to try to realize it

Competitive advantage

Is the ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them

multiplier effect

Is your influence on the organization is multiplied far beyond the results that can be achieved by just one person acting alone

General Managers

Responsible for several departments. Usually in small companies

Good manager principal skills

Technical (perform specific job), conceptual (ability to think), and human (interaction with others)

The art of Management defined

The art of getting things done through people

Effectiveness defined

The organization's end goal, to be effective means to achieve results, to make the right decisions and to successfully carry them out so that they achieve the organizations goals

Formal definition of management

The pursuit of organizational goals efficiently and effectively by integrating the work of people through planning, organizing, leading, and controlling the organization's resources.

Two kinds of innovators expressed in entrepreneurship

The two kinds are entrepreneur and intrapreneur

What makes a good manager

They are task oriented, achievement oriented, and people oriented and they operate within an organization

Application of Efficiency

To be efficient means to use resources people, money, raw materials, and the like wisely and cost effectively

Four levels of Managers

Top, middle, first-line manager, and team leaders

Organizing

You arrange tasks, people, and other resources to accomplish the work

Controlling

You monitor performance, compare it with goals, and take corrective action as needed

leading

You motivate, direct, and otherwise influence people to work hard to achieve the organizations goals

Entrepreneur

a type of entrepreneurship where someone who sees an new opportunity for a product or service and launches an business to try to realize it

Human skills and soft skills and types of management

it is important for all types of managers and deals with the ability to work well in cooperation with other people to get things done

first-line manager

make short-term decisions (supervisor or department head)

Top manager role

makes long term decisions (CEO)

Interpersonal roles

managers interact with people inside and outside their work units (figurehead, leader, and liaison)

Technical skills and type of management

most important in lower levels of management that are among employees

Functional Managers

responsible for one organizational activity. It usually has a specific title in front of the job like Fitness Manager, or Vice President of Production.

Planning in the management functions

setting goals and decide how to achieve them

Decisional role

(entrepreneur, disturbance handler, resource allocator, and negotiator) use information to make decisions to solve problems or take advantage of opportunities.

informational role

(monitor, disseminator, and spokesperson) managers receive and communicate information with other people inside and outside organization

Management process defined and functions

aka the four management functions: planning, organizing, leading, and controlling

Expatriate

an american manager working in a foreign country

Helps create global village

convenient air travel and electronic media

chief skills companies seek in top managers

the ability to motivate and engage, ability to communicate, work experience outside the U.S, high energy levels

soft skills

the ability to motivate, to inspire trust, to communicate with others

Management definition

the pursuit of organizational goals efficiently and effectively