309 exam 1 part 1
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49 terms
Terms | Definitions |
|---|---|
 management | involves coordinating and overseeing the work activities of others so that their activities are completed efficiently and effectively. |
| planning | Defining goals, establishing strategies to achieve goals, and developing plans to integrate and coordinate activities, primary mgmt. function because it is the basis for all other functions |
| organizing | Arranging and structuring work to accomplish organizational goals, determining what needs to be done, how it will be done, and who is to do it |
| leading | Working with and through people to accomplish goals. |
| controlling | monitoring activities to ensure that they are accomplished as planned, provides link between leading and planning |
| technical | Knowledge and proficiency in a specific field, tools and techniques to produce products |
| human skills | The ability to work well with other people, important for ALL mangers |
| conceptual skills | The ability to think and conceptualize about abstract and complex situations concerning the organization |
| innovation | Doing things differently, exploring new territory, and taking risks. Managers should encourage employees to be aware of and act on opportunities for this |
| planning | Defining the organization's goals Establishing an overall strategy for achieving those goals Developing plans for organizational work activities, provides directions, reduces uncertainty, est. goals/standards in controlling |
| formal planning | Specific goals covering a specific time period, Written and shared with organizational members, higher profits and return on assets, positive financial results |
| plans | Documents that outline how goals are to be accomplished Describe how resources are to be allocated and establish activity schedules |
| financial goals | related to the expected internal financial performance of the organization. ex. financial targets are 3-5% of avg. annual sales |
| strategic goals | related to the performance of the firm relative to factors in its external environment (e.g., competitors).ex. we want to be the world's most influential news org. |
| strategic plans | Establish the organization's overall goals, Seek to position the organization in terms of its environment, Cover extended periods of time |
| operational plans | Specify the details of how the overall goals are to be achieved, Cover a short time period, narrow |
| long term plans | time frames expanding beyond three years |
| short term plans | time frames of one year or less |
| specific plans | Plans that are clearly defined and leave no room for interpretation, ex. increase output by 8% over 12 months |
| single use plans | A one-time plan specifically designed to meet the need of a unique situation. ex. expand number of wal mart stores in china |
| standing plans | Ongoing plans that provide guidance for activities performed repeatedly, policies, rules, procedures, ex. sex harassment plan that provides guidance |
| means end chain | The integrated network of goals that results from establishing a clearly-defined hierarchy of organizational goals. Achievement of lower-level goals is the means by which to reach higher-level goals (ends). |
| management by objective | Specific performance goals are jointly determined by employees and managers, Progress toward accomplishing goals is periodically reviewed, Rewards are allocated on the basis of progress towards the goals. ex. sit down with manager and your team and set goals and review progress |
| elements of management by objective | goal specificity participative decision making an explicit performance/evaluation period feedback |
| commitment concept | Current plans affecting future commitments must be sufficiently long-term in order to meet those commitments. |
| controlling | the process of monitoring, comparing, and correcting work performance, To ensure that activities are completed in ways that lead to the accomplishment of organizational goals. |
| control process | Measuring actual performance Comparing actual performance against a standard Taking action to correct deviations or inadequate standards, provides key link back to planning |
| personal observations | get firstand knowledge, information isn't filtered, intensive coverage of work activities, however is time consuming, obtrusive, and subject to biases |
| statistical reports | easy to visualize, effective for showing relationships, however provide ltd. information, ignore subjective factors |
| oral reports | fast way to get info, allow for verbal and nonverbal feedback, however info is filtered and can't be documented |
| written reports | comprehensive, formal, easy to file and retrieve, however take more time to prepare |
| range of variation | the acceptable parameters of variance between actual performance and the standard. |
| immediate corrective action | corrective action that corrects problems at once in order to get performance back on track |
| basic corrective action | corrective action that looks at how and why performance deviated before correcting the source of deviation. |
| organizational performance | the accumulated results of all the organization's work activities. |
| productivity | the amount of goods or services produced divided by the inputs needed to generate that output. produce most goods using least amt . of inputs |
| organizational effectiveness | a measure of how appropriate organizational goals are and how well those goals are being met. |
| feed forward control | control that takes place before a work activity is done., ex. communicate security policies to emp. |
| concurrent control | control that takes place while a work activity is in progress, as they happen |
| management by walking around | a term used to describe when a manager is out in the work area interacting directly with employees. |
| feedback control | control that takes place after a work activity is done gives managers info on how effective planning efforts were |
| efficiency | refers to getting the most output from the least amt of inputs "doings things right", not wasting resources |
| effectiveness | doing work activities that will help the organization reach its goals "doing things right" end or attainment of organizations goals |
| customers | the reasons org. exist, consistent high quality customer service is essential for survival, employees must please these people |
| sustainability | the company's ability to achieve its business goals and increase long term shareholder value by integrating economic, environmental, and social opp. into business strategies |
| universality of management | needed for all organizations, for all sizes, of all types, of all areas, for all level |
| empowering employees | control system provide managers with info and feedback on emp. performance |
| comparing actual performance against standard | determining degree of variation between actual cs. standard |
| range of variation | the acceptable parameters of variance between actual performance and the standard |
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