Download Management Fundamentals: Terms, Functions, and Techniques and more Quizzes Business Research Methods for Managers in PDF only on Docsity!
Management
The process used to accomplish organizational goals through planning, organizing, leading and controlling people and other organizational resources TERM 2
FOUR FUNCTIONS of MANAGEMENT
DEFINITION 2 Planning Organizing Leading Controlling TERM 3
Vision
DEFINITION 3 More than a goal, its a broad explanation of why the organization exists and where its trying to go. Provides a sense of purpose or a set of values TERM 4
Mission Statement
DEFINITION 4 Outlines the organizations fundamental purposes; it is the foundation for goals and objectives; includes: The organizations selfconcept, Its philosophy, Longterm survival needs, Customer needs, Social responsibility, Nature of the product or service TERM 5
Goals
DEFINITION 5 The broad, long-term accomplishments an organization wishes to attain
Objectives
Specific, short-term statements detailing how to achieve the organizations goals TERM 7
SWOT Analysis
DEFINITION 7 Analyzes the organizations Strengths, Weaknesses, Opportunities and Threats TERM 8
RATIONAL DECISION-MAKING MODEL
DEFINITION 8 1.Define the situation 2.Describe and collect needed information 3.Develop alternatives 4.Develop agreement among those involved 5.Decide which alternative is best 6.Do what is indicated 7.Determine whether the decision was a good one and follow up TERM 9
Problem Solving
DEFINITION 9 The process of solving the everyday problems that occur; less formal than decision making and needs quicker action TERM 10
Problem-solving techniques include
brainstorming and PMI
DEFINITION 10 Listing all the pluses for a solution in one column, all the minuses in another and the implications in a third
Technical Skills
The ability to perform tasks in a specific discipline or department TERM 17
Human Relations Skills
DEFINITION 17 Skills that involve communication and motivation; they enable managers to work through and with people TERM 18
Conceptual Skills
DEFINITION 18 Skills that involve the ability to picture the organization as a whole and the relationship among its various parts TERM 19
Staffing
DEFINITION 19 Recruiting, hiring, motivating and retaining the best people available to accomplish the companys objectives TERM 20
Leaders must
DEFINITION 20 Communicate a vision and rally others around that vision, Establish corporate values, Promote corporate ethics, Embrace change, Stress accountability and responsibility (e.g., through transparency)
Autocratic Leadership
Making managerial decisions without consulting others TERM 22
Participative or Democratic Leadership
DEFINITION 22 Managers and employees work together to make decisions TERM 23
Free-Rein Leadership (aka Laissez Faire)
DEFINITION 23 Managers set objectives and employees are free to do whatever is appropriate to accomplish those objectives TERM 24
Enabling
DEFINITION 24 Giving workers the education and tools they need to make decisions TERM 25
Knowledge Management
DEFINITION 25 Finding the right information, keeping the information in a readily accessible place and making the information known to everyone in the firm
