Management Chapter 1 Flashcards

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What are organizations?

Groups of machines working to increase efficiency

Individuals working in isolation

Temporary gatherings of people

Collections of people who work together to achieve goals (correct)

What is management?

The planning, organizing, leading and controlling of resources to achieve goals.

What is organizational performance?

A measure of how efficiently and effectively a manager uses resources.

Define efficiency in the context of management.

A measure of how well or how productively resources are used. Signup and view all the answers

What does effectiveness refer to?

A measure of the appropriateness of the goals pursued. Signup and view all the answers

What is planning?

Identifying and selecting appropriate goals. Signup and view all the answers

What is strategy in management?

A cluster of decisions about goals and actions. Signup and view all the answers

What does organizing mean?

Structuring working relationships to achieve goals. Signup and view all the answers

Define organizational structure.

A formal system of task and reporting relationships. Signup and view all the answers

What is leading in terms of management?

Articulating a clear vision and energizing members. Signup and view all the answers

What does controlling entail?

Evaluating how well an organization is achieving its goals. Signup and view all the answers

What is a department in an organization?

A group of people with similar skills performing jobs. Signup and view all the answers

Who is a first-line manager?

A manager responsible for the daily supervision of employees. Signup and view all the answers

What is the role of a middle manager?

Supervises first-line managers and optimizes resource use. Signup and view all the answers

What does a top manager do?

Establishes goals and monitors middle managers. Signup and view all the answers

What is a top-management team?

A group composed of the CEO and important department heads. Signup and view all the answers

Define conceptual skills.

The ability to analyze and diagnose situations. Signup and view all the answers

What are human skills?

The ability to lead and control others' behavior. Signup and view all the answers

What are technical skills?

Job-specific knowledge and techniques. Signup and view all the answers

What is a core competency?

A specific set of skills that allows an organization to outperform others. Signup and view all the answers

What does restructuring involve?

Downsizing by eliminating jobs. Signup and view all the answers

What is outsourcing?

Contracting another company to perform an activity. Signup and view all the answers

What is a self-managed team?

A group of employees responsible for their own activities. Signup and view all the answers

Define empowerment.

The expansion of employees' knowledge and responsibilities. Signup and view all the answers

What are global organizations?

Organizations that operate in multiple countries. Signup and view all the answers

What is competitive advantage?

The ability to outperform other organizations. Signup and view all the answers

What does innovation refer to?

Creating new or improved goods and services. Signup and view all the answers

What is turnaround management?

Creating a new vision for a struggling company. Signup and view all the answers

Study Notes

Key Concepts in Management

Organizations: Groups of individuals collaborating to reach various objectives and desired outcomes.
Management: Involves planning, organizing, leading, and controlling resources to achieve organizational goals effectively.
Organizational Performance: Evaluates a manager's efficiency in using resources to meet customer needs and reach set goals.

Efficiency and Effectiveness

Efficiency: Assesses the productive use of resources to reach a specific goal.
Effectiveness: Measures the suitability of the goals pursued and the extent to which they are achieved.

Core Functions of Management

Planning: The process of identifying and selecting suitable goals; one of four core management tasks.
Organizing: Structuring work relationships to enable collaboration among members for goal achievement.
Leading: Communicating a clear vision and motivating team members to fulfill their roles in reaching goals.
Controlling: Monitoring organizational goal achievement and taking corrective actions to enhance performance.

Organizational Structure and Managerial Roles

Organizational Structure: Formal system that dictates tasks and reporting relationships to coordinate member efforts.
Departments: Groups of individuals with similar skills or knowledge working together.
First-Line Manager: Directly supervises nonmanagerial employees on a daily basis.
Middle Manager: Oversees first-line managers and optimizes resource utilization to attain goals.
Top Manager: Sets organizational goals and supervises middle managers.

Management Teams

Top-Management Team: Includes the CEO, COO, president, and heads of major departments, guiding the organization’s direction.

Skills Required in Management

Conceptual Skills: Ability to analyze situations and understand causation.
Human Skills: Competence in leading and managing interpersonal dynamics.
Technical Skills: Job-specific expertise necessary for performing organizational roles.

Organizational Dynamics

Core Competency: Unique set of skills enabling one organization to excel over others.
Restructuring: Reduction of workforce by eliminating numerous managerial and non-managerial positions.
Outsourcing: Contracting external companies to perform tasks previously managed in-house.
Self-Managed Team: Employees taking ownership of their activities and quality control.
Empowerment: Increasing employee responsibilities in decision-making and knowledge.

Broader Context

Global Organizations: Entities operating in multiple countries, facing unique competition and challenges.
Competitive Advantage: Occurs when an organization excels in efficiency and effectiveness over its rivals.
Innovation: The process of developing new or enhanced products and services, improving methods of delivery.
Turnaround Management: Creating new vision and strategy for struggling companies to optimize resource usage and ensure survival.

These key points encapsulate essential definitions and concepts in management, providing a comprehensive overview for further study.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Description

Explore key concepts in management with these flashcards from Chapter 1. Learn about organizations, management practices, and the metrics of organizational performance. This interactive quiz will help reinforce your understanding of foundational management terminology.