Introduction to Management Concepts

A planned group of people who work together to achieve specific goals.

A person who plans, organizes, leads, and controls resources to achieve organizational goals.

The process of achieving organizational goals by effectively using resources.

The abilities needed to achieve organizational goals, including conceptual, communication, interpersonal, and decision-making skills.

The factors outside an organization that affect its performance.

A framework for analyzing industry competition. It examines the threat of new entrants, bargaining power of suppliers and customers, and the threat of substitute products.

A series of steps managers follow to identify problems, analyze options, and make choices to achieve objectives.

Broad factors that affect all organizations in a given country or society, including economic, political, demographic, and technological aspects.

These factors play a significant role in decision-making. Commitment refers to our dedication to a particular course of action, while intuition relies on gut feelings and instincts.

Tactical planning focuses on specific actions and strategies to achieve short-term goals. It's like a road map with detailed instructions for getting from point A to point B.

Planning helps organizations anticipate challenges and capitalize on opportunities, which ultimately leads to a higher chance of achieving goals.

Planning doesn't guarantee success, but it significantly improves the chances of achieving desired results. It provides direction and structure, minimizing chaos and maximizing efficiency.

This type of goal aims to communicate information to external stakeholders such as investors, customers, or the community. It's used to build relationships and maintain a positive image.

Managers plan to create a framework for achieving organizational goals efficiently. Planning helps them set clear objectives, allocate resources, and anticipate potential problems.

Financial goals focus on profitability, revenue growth, and financial stability. They represent the organization's economic success.

Strategic management encompasses the decisions and actions that shape the long-term direction and performance of an organization. It's like a grand plan for navigating the entire journey.

A high-level plan that outlines how a company will compete in its chosen markets and achieve its overall goals. It guides the organization's direction and helps ensure that all efforts are aligned toward achieving a common vision.

Focuses on how a company will compete within a specific industry or market segment. It defines a company's competitive advantage and how it will create value for customers.

A strategy that focuses on how a company will position itself against competitors in order to win customers and achieve superior performance. It outlines the specific actions a company will take to gain a competitive advantage.

A strategy that focuses on providing excellent customer experiences to build loyalty and drive sales. It encompasses the processes, policies, and practices that ensure customer satisfaction.

A strategy that focuses on developing new products, services, or processes to stay ahead of the competition and meet evolving customer needs. It involves identifying opportunities, fostering creativity and implementing change.

The framework that defines how tasks are divided, grouped, and coordinated within an organization. It outlines lines of authority and communication among employees.

Organizing employees into departments based on their specific skills and expertise, such as marketing, finance, or operations.

Organizing employees to serve different customer segments, such as individual consumers, businesses, or government agencies.

These theories recognize that leadership effectiveness depends on the situation, considering factors like the leader's traits, the task, and the group.

This model suggests that leadership effectiveness is determined by the match between the leader's style (task-oriented or relationship-oriented) and the situation's favorableness.

This theory emphasizes adapting leadership style based on followers' readiness and maturity.

This theory focuses on how leaders motivate followers by clarifying paths to achieve goals and providing support.

The forces that energize, direct, and sustain behavior toward attaining a goal.

This theory proposes that humans have a hierarchy of needs, starting from physiological needs to self-actualization.

This theory simplifies Maslow's hierarchy into three categories: Existence, Relatedness, and Growth.

Content theories focus on what motivates (needs), while process theories explore how those needs are activated and satisfied.