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Management Chapter One

planning, organizing, leading, controlling
four functions of management
management
the process of working with people and resources to accomplish organizational goals
effective
To be _____ is to achieve organizational goals.
efficient
To be _____ is to achieve goals with minimal waste of resources–that is, to make the best possible use of money, time, materials, and people.
planning
specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals
planning
systematically making decisions about the goals and activities that an individual, a group, a work unit, or the overall organization will pursue
delivering strategic value
In today’s highly competitive business environment, the planning function can also be described as _____.
organizing
assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals
build a dynamic organization
The organizing function’s goal is to _____.
leading
stimulating people to be high performers
innovation, quality, service, speed, cost competitiveness
five sources of competitive advantage
trade-offs, ignored
_____ may occur among the competitive advantages, but one should not be _____ to achieve the other.
planning
analyzing current situations, anticipating the future, determining objectives, and deciding in what types of activities the company will engage
organizing
attracting people to the organization, specifying job responsibilities, grouping jobs into work units, and marshaling and allocating resources
leading
motivating and communicating to help people achieve organizational goals
interpersonal, informational, decisional
three major categories of roles
variety, three, overlap, blurry
In working through the four managerial functions, managers take on a _____ of roles. Roles can be grouped into _____ major categories, but roles often _____ and distinctions can be _____.
figurehead, leader, liaison
three interpersonal roles
figurehead
performs social and legal duties, acts as a symbolic leader
figurehead
greets visitors, signs legal documents, attends ribbon-cutting ceremonies, hosts receptions, etc.
leader
directs and motivates subordinates, selects and trains employees, includes almost all interactions with subordinates
liaison
establishes and maintains contacts within and outside the organization
liaison
maintains business correspondence, participates in meetings with representatives of other divisions or organizations
monitor, disseminator, spokesperson
three informative roles
monitor
seeks and acquires work-related information
monitor
scans/reads trade press, periodicals, and reports; attends seminars and training; and maintains personal contacts
disseminator
communicates to others within the organization
disseminator
sends memos and reports, informs staffers and subordinates of decisions
spokesperson
communicates/transmits information to outsiders
spokesperson
passes on memos, reports, and informational materials; participates in conferences/meetings and reports progress
entrepreneur, disturbance handler, resource allocator, negotiator
four decisional roles
entrepreneur
identifies new ideas and initiates improvement projects
entrepreneur
implements innovations, plans for the future
disturbance handler
deals with disputes or problems and takes corrective action
disturbance handler
settles conflicts between subordinates, chooses strategic alternatives, overcomes crisis situations
resource allocator
decides where to apply resources
resource allocator
drafts and approves of plans, schedules, and budgets; sets priorities
negotiator
defends business interests
negotiator
participates in and negotiates within team, department, and organization
four, three, busy, fragmented, all areas
A typical day for a manager is not neatly divided into the _____ functions or the _____ roles. Days are _____ and _____, and spent dealing with interruptions, meetings, and firefighting. A good manager must strive to perform well in _____.
functions, management roles, skills
For management to get to a competitive advantage, there are four primary _____, which are accomplished through a variety of _____, which utilize a number of different _____.
technical, conceptual and decisional, interpersonal and communication
three broad skills needed by managers
technical skills
the ability to perform a specialized task involving a particular method or process
conceptual and decision skills
the ability to identify and resolve problems for the benefit of the organization and its members
interpersonal and communication skills
people skills–the ability to lead, motivate, and communicate effectively with others
top-level, middle-level, frontline, team leader/supervisor
four different levels of managers
top-level managers
senior executives (often called (C-level), responsible for the overall management and effectiveness of the organization
middle-level managers
managers located in the middle layers of the organizational hierarchy, reporting to top-level executives and directing lower levels
frontline managers
lower-level managers who execute the operations of the organization
team leader or supervisor
employees who are responsible for facilitating successful team performance
high, medium, high
A team leader/supervisor should have _____ technical skills, _____ conceptual/decisional skills, and _____ interpersonal/communication skills.
high, medium, high
A frontline manager should have _____ technical skills, _____ conceptual/decisional skills, and _____ interpersonal/communication skills.
medium, high, high
A middle-level manager should have _____ technical skills, _____ conceptual/decisional skills, and _____ interpersonal/communication skills.
low, high, high
A top-level manager should have _____ technical skills, _____ conceptual/decisional skills, and _____ interpersonal/communication skills.
change, stressful, people
Managerial roles _____ quickly, can be _____, and almost always involve dealing with other _____.
emotional intelligence, interpersonal and communication
Best managers tend to have high _____, which corresponds with good _____ skills.
emotional intelligence
the skills of understanding yourself, managing yourself, and dealing effectively with others
social effectiveness, social relations
Generally speaking, emotional intelligence improves an individual’s _____. The higher the emotional intelligence, the better the _____.
globalization, technological change, importance of knowledge and ideas, collaboration across organizational boundaries, more diverse labor force
five major challenges facing managers today
controlling
monitoring performance and making needed changes
controlling
ensuring that efforts are resulting in the desired goals
all four
Good management requires _____ functions.
tactical managers
another term for middle-level managers
leader
staffing, training, and motivating people to achieve organizational goals
liaison
maintaining a network of outside contacts and alliances that provide information and favors
figurehead
performing symbolic duties on behalf of the organization, like greeting important visitors and attending social events
monitor
seeking information to develop a thorough understanding of the organization and its environment
disseminator
sharing information between different people like employees and managers; sometimes interpreting and integrating diverse perspectives
spokesperson
communicating on behalf of the organization about plans, policies, actions, and results
entrepreneur
searching for new business opportunities and initiating new projects to create change
disturbance handler
taking corrective action during crises or other conflicts
resource allocator
providing funding and other resources to units or people includes making major organizational decisions
negotiator
engaging in negotiations with parties inside and outside the organization
understanding yourself, managing yourself, working effectively with others
three skill sets known collectively as emotional intelligence (or EQ)
social capital
goodwill stemming from your social relations
knowledge workers
workers whose primary contributions are ideas and problem-solving expertise
knowledge management
practices aimed at discovering and harnessing an organization’s intellectual resources
knowledge management
about finding, unlocking, sharing, and capitalizing on the most precious resources of an organization: people’s expertise, skills, wisdom, and relationships
knowledge management
typically relies on software that lets employees contribute what they know and share that knowledge readily with one another (could be responsibility of IT)
collaboration
boosts performance
T-shaped managers
break out of the traditional hierarchy to share knowledge freely across the organization while remaining fiercely committed to the performance of their individual business units
inside company, other companies, customers
three groups where collaboration should be emphasized
innovation
the introduction of new goods and services
quality
the excellence of your products (goods or services)
service
the speed and dependability with which an organization delivers what customers want
total quality
includes preventing defects before they occur, achieving zero defects in manufacturing, and designing products for quality
preventing, zero defects, designing
Total quality includes _____ defects before they occur, achieving _____ in manufacturing, and _____ products for quality.
service
means giving customers what they want or need, when and where they want it
speed
fast and timely execution, response, and delivery of results
cost competitiveness
keeping costs low to achieve profits and be able to offer prices that are attractive to consumers
operational implementer, facilitator of team effectiveness
Transformation of Management Roles and Activities: team leaders have changed from _____ to _____.
administrative controllers, supportive controllers
Transformation of Management Roles and Activities: middle-level managers have changed from _____ to _____.
operational implementers, aggressive entrepreneurs
Transformation of Management Roles and Activities: frontline managers have changed from _____ to _____.
resource allocators, institutional leaders
Transformation of Management Roles and Activities: top-level managers have changed from _____ to _____.

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