Management Quiz 1

Organizations

collections of people who work together and coordinate their actions to achieve a wide variety of goals and desired future outcomes

Management-

the planning, organizing, leading and controlling of human and other resources to achieve organizational goals efficiently and effectively.

• Organizational Performance-

a measure of how efficiently and effectively managers use available resources to satisfy customers and achieve organizational goals.

• Efficiency-

a measure of how productively resources are used to achieve a goal.

• Effectiveness-

a measure of the appropriateness of the goals that managers have selected for the organization and of the degree to which the organization achieves those goals.

o Planning-

task managers identity and select appropriate organizational goals and courses of action

• Strategy-

a cluster of decisions about what goals to pursue what actions to take, and how to use resources to achieve goals

o Organizing-

structuring working relationships so organizational members interact and cooperate to achieve organizational goals.

• Organizational Structure

a formal system of task and reporting relationships that coordinates and motivates members so that they work together to achieve organizational goals

o Leading-

managers articulate a clear organizational vision for the organization’s members to accomplish, and they energize and enable employees so that everyone understands the part he or she plays in achieving organizational goals.

o Controlling-

the task of managers here is to evaluate how well an organization has achieved its goals and to take any corrective actions needed to maintain or improve performance.

o Department-

a group of people who work together and possess similar skills or use the same knowledge, tools, or techniques to perform their jobs

o First line managers-

often called supervisors- responsible for the daily supervision of the non-managerial employees- work in all departments or functions of an organization

o Middle Managers-

responsible for finding the best way to organize human and other resources to achieve organizational goals

o Top Managers-

responsible for the performance of all departments- they have cross-departmental responsibility- they establish organizational goals- decide how departments should interact

o Top Management team-

a group composed of the CEO, the COO, the president and the department heads most responsible for helping achieve organizational goals

• Conceptual Skills-

the ability to analyze and diagnose a situation and to distinguish between cause and effect

• Human Skills

The ability to understand, alter, lead and control the behavior of other individuals and groups. The ability to communicate, coordinate and to motivate people and to mold individuals into a cohesive team, distinguishes effective from ineffective managers

• Technical Skills

The job-specific skills/knowledge required to perform a particular type of work or occupation at a high level

• Core Competency-

the specific set of departmental skills, knowledge and experience that allows one organization to outperform its competitors. Competitive advantage

• Restructuring-

involves simplifying, shrinking or downsizing an organization’s operations to lower operating costs

• Outsourcing-

involves contracting with another company, usually in a low-cost country abroad, to have it perform an activity the organization previously performed itself.

• Empowerment-

a management technique that involves giving employees more authority and responsibility over the way they perform their work activities- this raises employees’ performance

• Self-managed Team-

a group of employees who assume responsibility for organizing, controlling, and supervising their own activities and monitoring the quality of the goods and services they provide

• Competitive advantage-

The ability of one organization to outperform other organizations because it produces desired goods or services more efficiently and effectively than they do.

o Innovation-

the process of creating new or improved goods and services that customers want or developing better ways to produce or provide goods and services