Management Chapter 7 Flashcards

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Questions and Answers

What is management?

Management is the process of achieving organizational objectives through people and other resources.

What are the three levels of management?

Top management, middle management, and supervisory management.

What is the role of top management?

Top managers develop long-range plans, set the direction for their organization, and inspire employees.

What distinguishes middle management?

Middle managers focus on specific operations within the organization. Signup and view all the answers

What is supervisory management responsible for?

Supervisory management is responsible for implementing plans and motivating non-managerial employees. Signup and view all the answers

What skills are necessary for managerial success?

Technical, human, and conceptual skills. Signup and view all the answers

What are technical skills?

Technical skills are the ability to understand and use techniques and tools specific to a discipline. Signup and view all the answers

What do human skills encompass?

Human skills include the ability to communicate, collaborate, and motivate employees. Signup and view all the answers

What are conceptual skills?

Conceptual skills involve the ability to understand the organization as a whole and how its parts interact. Signup and view all the answers

What is planning in management?

Planning is the process of anticipating future events and determining action courses to achieve objectives. Signup and view all the answers

What does organizing involve?

Organizing involves blending human and material resources through a formal structure of tasks and authority. Signup and view all the answers

What is directing in management?

Directing is guiding and motivating employees to achieve organizational objectives. Signup and view all the answers

What is controlling in a management context?

Controlling evaluates an organization's performance against its objectives. Signup and view all the answers

What is a vision in the context of a company?

The ability to perceive marketplace needs Signup and view all the answers

Why is it important for top executives to set high ethical standards?

High ethical standards contribute to a stable workforce, job satisfaction, and customer loyalty. Signup and view all the answers

What is strategic planning?

Strategic planning is determining primary objectives and allocating resources to achieve them. Signup and view all the answers

What is a mission statement?

A mission statement explains an organization's business intentions and aims. Signup and view all the answers

What does SWOT analysis stand for?

Strengths, weaknesses, opportunities, and threats. Signup and view all the answers

What are objectives in a management context?

Objectives are guideposts defining desired performance in various areas. Signup and view all the answers

What is competitive differentiation?

Competitive differentiation is a unique combination of abilities, products, and approaches that set a company apart. Signup and view all the answers

Which characteristics does a SWOT analysis compare?

Strengths, weaknesses, opportunities, and threats Signup and view all the answers

How do managers use objectives?

Managers use objectives as guideposts for defining desired performance. Signup and view all the answers

What is an organization?

An organization is a structured group of people working together to achieve common goals. Signup and view all the answers

What is departmentalization?

Departmentalization is the process of dividing work activities into units within an organization. Signup and view all the answers

What are the forms of departmentalization?

Product, geographical, customer, functional, and process Signup and view all the answers

What is delegation in management?

Delegation is the managerial process of assigning work to employees. Signup and view all the answers

What is meant by span of management?

Span of management refers to the number of subordinates a manager can effectively supervise. Signup and view all the answers

What is decentralization?

Decentralization is decision-making based at lower levels of the organization. Signup and view all the answers

What is centralization?

Centralization is decision-making based at the top of the management hierarchy. Signup and view all the answers

What are the basic types of organizational structures?

Line, line-and-staff, committee, and matrix Signup and view all the answers

What is a line organization?

A line organization establishes a direct flow of authority from the chief executive to employees. Signup and view all the answers

What is a line-and-staff organization?

A line-and-staff organization combines direct authority with support departments. Signup and view all the answers

What characterizes a committee organization?

Committee organization places authority in the hands of a group rather than a single manager. Signup and view all the answers

What is a matrix structure?

A matrix structure links employees from different areas to work on specific projects. Signup and view all the answers

What are the five major forms of departmentalization?

Product, geographical, customer, functional, and process departmentalization. Signup and view all the answers

Study Notes

Management Overview

Management is a process aimed at achieving organizational objectives through effective use of people and resources.
Three levels of management: top, middle, and supervisory.

Types of Management

Top Management: Highest management level focusing on long-range organizational plans; includes CEO, CFO, and executive vice presidents.
Middle Management: Responsible for specific operations; develops plans and procedures to implement strategies set by top management. Positions include general managers and division managers.
Supervisory Management: First-line management that directly oversees non-managerial employees; responsible for motivating workers and achieving daily operational goals.

Managerial Skills

Technical Skills: Ability to understand and utilize tools and techniques specific to a department; crucial for first-line managers.
Human Skills: Essential for communication, collaboration, and motivation; includes emotional intelligence for managing personal and others' emotions.
Conceptual Skills: Ability to visualize the organization as a whole and understand interrelationships among parts; vital for top-level managers.

Key Functions of Management

Planning: Involves anticipating future events and determining actions required to achieve objectives. Needs to be flexible and involve all management levels.
Organizing: Blends human and material resources through a structured approach; involves task division and authority assignment.
Directing: Guides and motivates employees toward organizational goals; includes task delegation and progress monitoring.
Controlling: Evaluates performance against objectives; involves establishing standards, monitoring performance, and making necessary adjustments.

Strategic Planning

Strategic planning involves defining an organization’s mission, assessing competitive position, setting objectives, and evaluating results.
SWOT Analysis: Assesses strengths, weaknesses, opportunities, and threats to inform strategy development.

Organizational Structures

Organizations feature three elements: human interaction, goal-directed activities, and structure.
Departmentalization: Dividing work activities into units based on products, geography, customers, functions, or processes.

Types of Departmentalization

Product Departmentalization: Units based on different goods or services offered.
Geographical Departmentalization: Units organized by geographical regions.
Customer Departmentalization: Units structured according to customer types.
Functional Departmentalization: Units based on business activities like finance or marketing.
Process Departmentalization: Units based on production or service processes.

Authority Structures

Decentralization: Decision-making occurs at lower organizational levels.
Centralization: Decision-making is concentrated at the top management level.
Line Organization: Simplest structure with a direct flow of authority; clear chain of command.
Line-and-Staff Organization: Combines line authority with specialized staff support.
Committee Organization: Authority shared among a group rather than individual managers.
Matrix Structure: Links employees from various parts of the organization to work on specific projects.

Importance of Ethical Standards

High ethical standards lead to employee satisfaction, loyalty, and stability within the workforce.

Vision and Objectives

A company’s vision defines marketplace needs and guides organizational actions.
Objectives act as performance guideposts in various areas including product development, sales, and customer service.

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Description

Enhance your understanding of key management concepts with these flashcards based on Chapter 7. Learn about the different levels of management, including top management, and how they contribute to achieving organizational goals.