Chapter 6: Understanding the Management Process Flashcards Preview

Comm 101 > Chapter 6: Understanding the Management Process > Flashcards

Flashcards in Chapter 6: Understanding the Management Process Deck (38)
Loading flashcards...
1

4 key functions of Management

planning, organizing, leading and motivating and controlling

2

establishing organizational goals and deciding how to accomplish them

planning

3

a clear and concise outline of an organization's values and goals that it would like to achieve

vision statement

4

broad based and determines goals and plans of entire organization

strategic planning

5

each functional area determines its own goals and plans

Tactical planning

6

each unit within each functional area determines its goals and plans

operational planning

7

Contingency plans

the "what if" plan

8

a clear and concise articulation of how the company intends to achieve its vision. (beginning of planning process)

mission statement

9

establishing major goals, then allocating resources to achieve them

strategic planning process

10

grouping resources to accomplish end result in efficient way

organizing

11

Leading

guiding others toward the achievement of organizational goals

12

providing reasons for people who work in the best interests of the organization

motivating

13

combination of leading and motivating

directing

14

evaluating and regulating ongoing activities to ensure goals are achieved

controlling

15

tool used during strategic planning process to set goals/objectives

SWOT analysis

16

what gives the company an advantage over competitors. ex: cost advantages, proven management, efficient distribution

Strengths

17

internal limitations a company faces. ex: high turnover, labour grievances, lack of managerial depth

weakness

18

ex: increased demand for new products, potential strategic alliances

opportunities

19

external conditions that could prevent company from reaching objectives. ex: entry to lower-cost competitors, rising sales of substitutes, slowing market growth

threats

20

approaches that may give an advantage

core competencies

21

Classification of Managers

1. according to level within an organization
2. according to their area of management

22

upper-level executive who guides and controls
- responsible for developing organizations mission and business strategy
ex: CEO, COO, CMO

Top Management

23

- largest group of managers
- implements strategy and major policies
- develop tactical and operational plans
- coordinate and supervise
ex: division manager, department head

Middle management

24

- coordinates and supervises the activities of employees
- motivating employees, answering questions, solving day-to-day problems

Front-line management

25

Finance manager

responsible for organizations financial resources

26

manages the systems that convert resources into goods/services

operations manager

27

responsible for facilitating exchange of products between organization and customers

marketing manager

28

managing and organizing human resource programs

HR manager

29

not associated with any functional area but provides guidance and leadership

administration manager

30

3 skills managers need

conceptual skills, technical skills, interpersonal skills