Defining Management Flashcards

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Questions and Answers

What does management refer to?

Hiring staff only

The organization and coordination of work (correct)

Creating advertising campaigns

Setting financial goals

Who is a front-line supervisor?

A person who practices management by working with and through people to accomplish organizational goals.

How did Mary Parker Follet define management?

The art of getting things done through people.

According to research, what percentage of variance in a team's engagement can managers account for?

As much as 70% Signup and view all the answers

What does successful management impose?

A degree of order and discipline. Signup and view all the answers

What is management the act of?

Engaging with an organization's human talent and its resources to accomplish desired goals. Signup and view all the answers

What does management comprise?

Planning, organizing, staffing, leading/directing, and controlling. Signup and view all the answers

What is an organization chart?

A graphic display of reporting relationships. Signup and view all the answers

What is systems thinking?

The process of understanding how parts influence one another within a whole. Signup and view all the answers

In for-profit work, what is the primary function of management?

Meeting the needs of various stakeholders. Signup and view all the answers

Who is a shareholder?

The real owner of a publicly traded business that is run by management. Signup and view all the answers

What does 'theoretical' refer to?

Relating to the underlying principles or methods of a skill, as opposed to its practice. Signup and view all the answers

Who are stakeholders?

Persons or organizations with a legitimate interest in a given situation. Signup and view all the answers

What is one of the most important duties for a manager?

Effectively using an organization's resources. Signup and view all the answers

What does the duty of management involve?

Deploying and manipulating human resources and allocating various resources. Signup and view all the answers

How can management be defined when considering organizations as systems?

As human action that enables the system to produce useful outcomes. Signup and view all the answers

In what way can management be considered?

As a type of function that measures financial metrics and adjusts plans. Signup and view all the answers

What are the six functions of management according to Henri Fayol, 1841-1925?

Forecasting, planning, organizing, commanding, coordinating, and controlling. Signup and view all the answers

What is another perspective on management?

Equivalent to 'business administration' excluding non-commerce areas. Signup and view all the answers

What must every organization do to maximize effectiveness?

Manage its work, people, processes, technology, etc. Signup and view all the answers

What is the role of management in the for-profit environment?

Tasked primarily with meeting the needs of a range of stakeholders. Signup and view all the answers

What does creating valued products at a reasonable cost involve?

Making a profit for the shareholders. Signup and view all the answers

Study Notes

Management Overview

Management involves organizing and coordinating work to achieve desired results.
Engaging with an organization's human talent and resources is essential to meet goals and objectives.
Successful management balances order, discipline, and autonomy in the workplace.

Key Definitions

A front-line supervisor achieves organizational goals by managing through people.
Mary Parker Follett (1868-1933) characterized management as "the art of getting things done through people."
Management consists of planning, organizing, staffing, leading/directing, and controlling within an organization.

Functions of Management

Henri Fayol (1841-1925) identified six functions of management: forecasting, planning, organizing, commanding, coordinating, and controlling.
Effective management measures financial metrics, adapts strategic plans, and achieves organizational objectives.

Organizational Structure

An organization chart visually represents reporting relationships, position titles, and holders.
Systems thinking understands how individual parts influence the whole within organizational systems.

Stakeholders and Shareholders

Stakeholders encompass individuals or entities directly affected by an organization's actions, holding legitimate interests.
Shareholders are the true owners of publicly traded companies, owning stock and being influenced by management decisions.

Management in Different Contexts

In for-profit businesses, management primarily serves the needs of stakeholders like customers, creditors, and owners.
Management practices apply across various sectors, including non-profits and public administration, contrary to the restricted view that limits it to commerce.

Resource Management

One of the key responsibilities of managers is to effectively use human capital and allocate financial, technological, and natural resources.
Organizations must manage work, people, processes, and technology effectively to maximize productivity and achieve objectives.

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Description

This quiz consists of key flashcards that define important management concepts, including the role of a front-line supervisor and insights from Mary Parker Follett. Ideal for students or professionals looking to strengthen their understanding of management principles.