mgmt100- Chapter 8 Management & Leadership page302-329)

knowledge management*

finding the right information, keeping the information in a readily accessible place, and making the info known to everyone in the firm.

mission statement should address: (6)

1) the organization's self-concept 2) the organization's philosophy & goals 3)long-term survival 4)customer needs 5)social responsibility 6)the nature of the organization's product/service

6 Ds of decision making:

1)define the situation 2)describe & collect needed info 3)develop alternatives 4)decide which alternative is best 5)do what is indicated (begin implementation) 6)determine whether the decision was a good one & follow up

5 steps in control process?

1)establish clear performance standards. -this ties the planning function to the control function -w/o clear standards, control is impossible 2)monitor & record actual performance (results). 3)compare results against plans & standards. 4)communicate results & deviations to the employees involved 5)take corrective action when needed & provide positive feedback for work well done

four functions of management?

1)planning 2)organizing 3)leading 4)controlling

4 forms of planning?

1)strategic planning 2)tactical planning 3)operational planning 4)contingency planning -refer to diagram page309 >continuous connecting bw the 4 forms >it shows the relationship between them, nut also that panning is a continuous process

Planning answers two fundamental questions for businesses:

1)what is the situation now? (what is the gap be where an organization is now & where it wants to be?) -SWOT analysis 2)how can we get there from here? -four forms of planning

3 leadership styles? (refer to page 322 for diagram)

1. Autocratic leadership 2.Participate (democratic) leadership 3.Free-rein leadership

levels of management? (refer to page 315)

1. TOP MANAGEMENT -president, vice presidents 2. MIDDLE MANAGEMENT -plant managers, division heads, branch managers (general mana) 3. SUPERVISORY (FIRST-LINE) MANAGEMENT -supervisors, foremen, department heads, section leaders 4.NONSUPERVISORY -employees (note there are only 3 levels of management- the first3)

manager must have 3 categories of skills:

1. Technical skills 2. Human relation skills 3. Conceptual skills

when is each type of leadership effective?

1. autocratic leadership -effective in emergencies & when absolute "fellowship" is needed -ie fighting fires -effective sometimes with new, relatively unskilled workers who need clear direction & guidance 2.participant (democratic) leadership -employee participation in decision may not always increase effectiveness, but it usually increase job satifaction -Google, Apple, IBM 3.Free-rein leadership -effective in organizations where mana supervise doctors, profressors, engineers / other professionals -traits needed by managers in such leadership include: warmth, friendliness & understanding

controlling*

involves establishing clear standards to determine whether or not an organization is progressing towards its goals & objectives, rewarding people for doing a good job, & taking corrective action if they are not.

Crisis planning*

involves reacting to sudden changes in the environment. -is a part of contingency planning -ie develop plans to respond to terrorist attacks >this planning important for police,hospitals airlines, public transportation authorities

resources*

is a general term that incorporates human resources (employees) , natural resources (raw materials) & financial resources (money)

rational decision-making model

is a series of steps that managers often follow to make logical, intelligent, & well-founded decisions -aka 6 Ds of decision making

what is the first step in developing a knowledge management system?

is determining what knowledge is most important

vision*

is more than a goal, it is an encompassing explanation of why the organization exists & where it is trying to head -gives the organization a sense of purpose & set of values that unite workers in a common destiny

participate (democratic) leadership*

leadership style that consists of managers & employees working together make decisions

conceptual skills*

skills that involve the ability to picture organization as a whole & the relationships among its carious parts

leaders must therefore:

-communicate a vision & rally others around that vision -establish corporate values -promote corporate ethics -embrace transformational change -stress accountability & responsibility (transparency)

problem solving*

-is the process of solving the everyday problems that occur. -is less formal than decision making & usually calls for quicker action

other research has identified two other types of leadership could be included:

4. transformational leadership 5.transactional leadership

opportunities & threats include concepts referred to as:

PESTLE -political -economic -social -technological -legal -environmental

strength & weaknesses include elements that are referred to as:

PRIMO-F -people -resources -innovation & ideas -marketing -operations -finance

PMI*

a creative thinking strategy that lists all the Pluses, Minuses, & Interesting points for a solution in separate columns.

staffing*

a management function that includes hiring, motivating and retaining the best ppl avail to accomplish the company's objectives

SWOT analysis*

a planning tool used to analyze an organization's strengths, weaknesses, opportunities & threats

values*

a set of fundamental beliefs that guide a business in the decisions it makes -guide strategic planning through day-to-day decisions by being mindful of how all stakeholders will be treated

organization chart*

a visual device that shows relationships among ppl and divides the organization's work; it shows who is accountable for the completion of specific work and who reports to whom.

mission statement*

an outline of the fundamental purposes of an organization

objectives*

are specific, measurable, short-term statements detailing "how to achieve" the organization's goals -objectives must be measurable -ie u can measure progress in answering questions by determining what % u answer correctly

goals*

are the broad, long-term accomplishments an organization wishes to attain

problem-solving techniques used by companies include:

brainstorming & PMI

decision making*

choosing among two or more alternatives

what is the difference between internal customers & external customer*?

external customers -dealers, who buy products to sell to others, and ultimate customers (or end users), who buy products for their own personal use. internal customers -individuals and units within the firm that receive services from other individuals or units

brainstorming*

generating as many solutions to a problem as possible in a short period of time with no censoring of ideas

top management*

highest level of management, consisting of the president & other key company executives, who develop strategic plans CEO -(chief executive officer) -responsible for introducing change into organization COO -(chief operating officer) -putting changes into effect CFO -(chief financial officer) -obtaining & collecting funds, planning budgets CIO/CKO -(chief information officer/chief knowledge officer) -getting the right info to other manas so they can make correct decisions

planning*

includes anticipating trends and determining the best strategies and tactics to achieve organization goals GOPST:Goals, Objectives, Plans, Strategies and Tactics. -trend today: to have planning teams to help monitor the environ, find business opportunities & watch for challenges

organizing*

includes designing the structure of the organization & creating conditions & systems in which everyone and everything work together to achieve the organization's goals & objectives -many organizations today designed to please the customer & generate profit -organization must remain flexible & adaptable bc customers needs change

transparency*

is the presentation of a company's facts & figures in a way that is clear, accessible and apparent to all stakeholders

management*

is the process used to accomplish organizational goals thru planning, organizing, leading & controlling people and other organizational resources

autocratic leadership*

leadership style that involves making managerial decisions w/o consulting others

free-rein leadership*

leadership style that involves managers setting objectives & employees being relatively free to do whatever it takes to accomplish those objectives

transformational leadership*

leadership style that occurs when leaders can influence others to follow them in working to achieve a desired outcome or goal

transactional leadership*

leadership style where the leader is given the power to assign tasks & their successful completion leads to rewards and reinforcement (associated with employees being motivated by a system of reward)

difference between leaders & managers?

manager -strive to produce order & stability leaders -embrace & manage change (leaders create a vision, managers is carrying out the leader's vision)

supervisory management*

managers who are directly responsible for supervising workers and evaluating their daily performance. -often known as first-line managers (or supervisors)

leading*

means creating a vision for the organization & guiding, training, coaching, and motivating others to work effectively to achieve the organization's goals and objectives -this function was once known as "directing"-that is telling employees exactly what to do -in many smaller firms, that is still the role of managers (directing) -in large modern firms, mana no longer tell ppl what exactly to do bc knowledge workers & employees often know how to do their jobs better than the mana

top management usually sets the vision for the organization, & then works w others in organization to establish a

mission statement

what is the foundation used for setting specific goals & selecting & motivating employees?

mission statement

what is responsible for tactical planning?

normally the responsibility of managers/teams of managers at lower levels of the organization

in SWOT, what are 2 things in ur control, and 2 things that are outside ur control

outside -opportunities -threats inside -strengths -weaknesses

place the following in the PLOC 1)distribute resources 2)corrective actions 3)arranging employee 4)inspiring 5)creating organization goals 6)evalulating results 7)motivating 8)setting precise standards

planning -5,8 organizing -1, 3 leading 4,7 controling 2,6

what is the key management function?

planning bc the other management function depend heavily on a good plan

who is responsible for strategic planning?

responsibility of the top managers in the firm ( i.e. the president and vice presidents of the organization)

the first managerial function, "planning" involves:

setting the organizational -vision -values -goals -objectives

human relation skills*

skills that involve communication and motivation; they enable managers to work thru and w ppl

technical skills*

skills that involve the ability to perform task in a specific discipline/department

middle management*

the level of management that includes general managers, division managers, and branch & plant managers, who are responsible for tactical planning and controlling.

strategic planning*

the process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals (outlines how the company will meet its objectives & goals) -policies:broad guides to action -strategies: determine the best way to use resources

tactical planning*

the process of developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done.

contingency planning*

the process of preparing alternative courses of action that may be used if the primary plans do not achieve the organization's objectives. i.e.:if they don't meet sales goal, the contingency plan may call for more advertising or a cut in prices at that time

operational planning*

the process of setting work standards & schedules necessary to implement the company's tactical objectives -focuses on the specific responsibilities of supervisors, department managers & individual employees

another skilled needed but not mention is

time-management skills

amount of skills needed at various levels of management? refer to diagram page317

top managers middle managers first-line managers -all managers need same amount of human relations skills -at top, mana need strong conceptual skills & less technical skills -at bottom, first-line mana need strong technical skills and less on conceptual skills. -middle managers need to have a balance between technical & conceptual skills (HIGHLY RECOMMEND LOOK AT PAGE)

vision vs. mission

vision: what do you want to be mission: what do you do

when is transformation leadership most effective?

works best in situation where dramatic organizational change is required