Management Chapter 1

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Questions and Answers

Which of these are challenges facing managers today and into the future?

  • Social Media (correct)
  • Technology (correct)
  • Political Uncertainty (correct)
  • Disruptive Innovation (correct)
  • The Customer (correct)
  • Ethics (correct)

Management is only necessary for large organizations.

False (B)

What is a strategic plan?

A long-term roadmap that defines an organization's goals, vision, and strategies to guide decisions and resource allocation.

What are the two career paths you will likely encounter when starting your career?

<p>Manage or be managed</p> Signup and view all the answers

Which of the following is NOT a characteristic of an organization?

<p>Profit Maximization (B)</p> Signup and view all the answers

The employee-manager relationship has a significant impact on employee productivity and loyalty.

<p>True (A)</p> Signup and view all the answers

One of the rewards of being a manager is creating ______ by building a productive work environment.

<p>impact</p> Signup and view all the answers

Match the following employability skills with their descriptions:

<p>Critical thinking = Analyzing information and forming judgments Communication = Effectively conveying ideas and information Collaboration = Working effectively with others Knowledge application and analysis = Applying knowledge to solve problems Social responsibility skills = Understanding and acting ethically, considering the broader societal impact</p> Signup and view all the answers

A ______ is a visual diagram that shows the structure of an organization, including roles, departments, and the relationships between them.

<p>organization chart</p> Signup and view all the answers

Match the following management terms with their definitions:

<p>Efficiency = Focuses on doing tasks the right way with minimal waste of time, effort, and resources. Effectiveness = Focuses on doing the right tasks to achieve organizational goals.</p> Signup and view all the answers

Give an example of a wide decision a top manager might make.

<p>Opening an international branch, entering a new market, merging with another company, launching a new product line, or changing the organizational structure.</p> Signup and view all the answers

Poor management leads to low employee turnover.

<p>False (B)</p> Signup and view all the answers

What is the key difference between a manager and management?

<p>A manager is an individual, while management is a process. (C)</p> Signup and view all the answers

What are the four functions of management?

<p>Planning, Organizing, Leading, Controlling (B)</p> Signup and view all the answers

A successful manager only needs to focus on efficiency, ensuring minimal resource waste.

<p>False (B)</p> Signup and view all the answers

What are the three types of managerial roles identified by Mintzberg?

<p>Interpersonal, Informational, Decisional</p> Signup and view all the answers

The ______ role involves collecting and analyzing information relevant to the organization.

<p>Monitor</p> Signup and view all the answers

Match the following management skills with their descriptions:

<p>Technical Skills = Knowledge and proficiency in a specific field related to your role Human Skills = Ability to work well with other people Conceptual Skills = Ability to think and understand complex situations related to the organization</p> Signup and view all the answers

Which of the following is NOT a Decisional Role according to Mintzberg's classification?

<p>Liaison (C)</p> Signup and view all the answers

A leader can always be a manager, but a manager cannot always be a leader.

<p>False (B)</p> Signup and view all the answers

Explain the difference between a manager and a leader.

<p>A manager focuses on planning, organizing, directing, and controlling tasks to achieve goals. A leader inspires and motivates people to work towards shared objectives.</p> Signup and view all the answers

Flashcards

Manager

A person who organizes and supervises others' work to achieve goals.

Strategic Plan

A long-term roadmap defining an organization’s goals, vision, and strategies.

Top Manager

Responsible for organization-wide long-term goals; critical and risky role.

Organization

A group of people working together to achieve specific goals.

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Organization Chart

A visual representation of an organization’s structure, roles, and relationships.

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Management

The process of organizing and supervising work activities efficiently and effectively.

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Efficiency

Focusing on doing tasks correctly with minimal waste of resources.

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Effectiveness

Focusing on doing the right tasks to achieve organizational goals.

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High Efficiency

Minimizing resource waste while accomplishing goals.

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High Effectiveness

Achieving organizational goals and objectives successfully.

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Four Functions of Management

Planning, Organizing, Leading, Controlling are essential for effective management.

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Planning

Setting goals and strategies to coordinate activities in an organization.

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Interpersonal Roles

Managerial roles focused on managing relationships and interaction with people.

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Informational Roles

Managerial roles that involve sharing and handling information.

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Decisional Roles

Managerial roles that involve making decisions and solving problems.

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Katz's Management Skills

Skills include Technical, Human, and Conceptual for effective management.

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Challenges Facing Managers

Key issues managers must address include technology, innovation, social media, ethics, political uncertainty, and customer focus.

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Universality of Management

Management principles apply universally across all types, sizes, and levels of organizations.

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Rewards of Being a Manager

Benefits include creating impact, personal growth, and financial incentives such as bonuses.

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Employability Skills Matrix (ESM)

Essential skills for managers include critical thinking, communication, collaboration, knowledge application, and social responsibility.

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Reality of Work

In a career, individuals either manage others or are managed, highlighting the dynamic of leadership.

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Study Notes

Management Chapter 1

  • Manager: A person who organizes and supervises the work of others to achieve organizational goals and plans. Strategic plans are long-term roadmaps defining goals, vision, and strategies for decision-making and resource allocation.

Levels of Managers

  • Top Managers: Deal with the Board of Directors and oversee CEOs, COOs, CFOs, Presidents, Vice Presidents, Chancellors, and other senior executives.

  • Middle Managers: Deal with top managers and first-line managers, reporting to the Board of Directors. They include Deans, HODs, assistant managers, and other executives.

  • First-line Managers: Deal with non-managerial employees and report to middle managers. They include non-managerial employees (teams).

  • Non-managerial Employees: Report to first-line managers.

Top Manager Responsibilities

  • Top managers are responsible for an organization's wide and long-term goals.
  • Their role is critical and risky because decisions can strengthen or harm the organization.
  • Examples of wide decisions include opening international branches or entering new markets.

Organizations

  • An organization is a group of people working together to achieve specific goals.
  • Characteristics of an organization include specific goals, people, and a deliberate structure (positions, duties, roles). Organization charts are visual diagrams illustrating organizational structure, roles, departments, and relationships.

Importance of Managers

  • Managers maintain the organization's strong market position.
  • The quality of the employee-manager relationship affects productivity and loyalty.
  • Poor management leads to high employee turnover.

Management Definition

  • Management is the process of organizing and supervising work activities to ensure efficient and effective completion.
  • Managers perform the tasks, while management is the process/method they use.

Efficiency and Effectiveness

  • Efficiency focuses on doing tasks correctly with minimal waste of time, effort, and resources.
  • Effectiveness focuses on doing the right tasks to achieve organizational goals, even with increased effort and time (high attainment).

Management Functions

  • Planning: Setting goals, developing strategies, creating plans to coordinate activities effectively.
  • Organizing: Structuring tasks, resources, and responsibilities to achieve objectives.
  • Leading: Motivating and working with people to achieve goals.
  • Controlling: Monitoring progress, comparing outcomes to plans, and making necessary adjustments.

Managerial Roles (Mintzberg)

  • Interpersonal: Figurehead, Leader, Liaison
  • Informational: Monitor, Disseminator, Spokesperson
  • Decisional: Entrepreneur, Disturbance Handler, Resource Allocator, Negotiator

Management Skills (Katz)

  • Technical skills: Knowledge and proficiency in a specific field.
  • Human skills: Ability to work well with others (communication).
  • Conceptual skills: Ability to think and understand complex situations related to the organization.

Challenges Facing Managers

  • Focus on technology, disruptive innovation, social media, ethics, political uncertainty, and the customer.

Universality of Management

  • Management is essential in all organizations, regardless of size, type, area, or organizational level.

Reality of Work

  • When starting a career, people either manage or are managed.

Employability Skills Matrix (ESM)

  • Critical thinking, communication, collaboration, knowledge application and analysis, and social responsibility skills.

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