BA304 - CHAPTER 1 MANAGEMENT

What is a manager?

a manager is responsible for achieving organizational objectives through efficient and effective utilization of resources

what does it mean to be efficient?

doing things right to be able to maximize full utilization of resources

what does it mean to be effective

effective means doing the right thing in order to attain an objective

what are the manager’s resources

human, financial, physical and informational

what are human resources?

they are also referred to as human capital, they are the people/employees of the business that work with managers to accomplish organizational objectives

what are financial resources

this is the money/finances that managers use to have a budget stating the allocation of finances to operate their department/store for a set period of time

what are physical resources?

these are the equipment used in production, managers are responsible for making sure that the equipment is in working condition and ensuring that necessary products, materials and supplies are available when needed

what are informational resources

this is what is needed to set objectives, and make decisions on how to allocate and use scarce resources to attain your objectives

what is performance

the means of evaluating how effectively and effectively and efficiently managers utilize resources to achieve objectives

what is the level of organizational performance based on

how effectively and efficiently managers utilize resources to achieve objectives

what are the 3 important traits for successful managers

Integrity , Industriousness and the ability to get along with people

what are management skills

The skills needed to be an effective manager, including technical, interpersonal, and decision-making skills.

what are technical skills

these are hard skills that involve the ability to use methods and techniques to perform a task

what are interpersonal skills?

these are soft skills (human/people skills) that involve the ability to understand and communicate with and work well with individuals and groups through developing effective relationships

what are decision making skills

these are soft skills that are based on the ability to conceptualize situations and select alternatives to solve problems and take advantage of opportunities

what is critical thinking

the intellectually disciplined process of actively and skillfully conceptualizing, applying, analyzing, synthesizing, and/or evaluating information to solve problems and take advantage of opportunities through decision making.

what are the management functions

Planning, organizing, leading, and controlling. Managers perform the management functions by using organizational resources to achieve organizational objectives through others, often in teams.

What is planning?

the process of setting objectives and determining in advance exactly how the objectives will be met.

what is organizing

the process of delegating and coordinating tasks and allocating resources to achieve objectives.

what is staffing

the process of selecting, training, and evaluating employees.

what is leading?

the process of influencing employees to work toward achieving objectives.

what is controlling

the process of monitoring and measuring progress and taking corrective action when needed to ensure that objectives are achieved.

what is a role

a set of expectations of how one will behave in a given situation.

what are the management role categories

interpersonal, informational, decisional

what are the roles in the interpersonal management role

figurehead, leader, liason

what is a figurehead role

Managers do this role when they represent the organization or department in ceremonial and symbolic activities.

what is the leader role in the interpersonal role

Managers do this when they represent the organization or department in ceremonial and symbolic activities.

what is the liaison role in interpersonal role

Managers do this when they interact with people outside of their unit to gain information and favors.

what are the roles in the informational management role

Monitor, disseminator and spokesperson

what is the monitor role in informational role

Managers do this when they read and talk to others to receive information.

what is the disseminator role in informational role

Managers do this when they send information to others.

what is the spokesperson role

Managers do this when they provide information to people outside the organization.

what is the entrepreneur role

Managers do this when they innovate and initiate improvements.

what is the disturbance handler role

Managers do this when they take corrective action during disputes or crisis situations.

what is the resource allocator role

Managers do this when they schedule, request authorization, and perform budgeting and programming activities.

what is the negotiator role

Managers do this when they represent their department or organization during nonroutine transactions to gain agreement and commitment.

what are the roles in informational management tole

Monitor, disseminator, spokesperson

what are the roles in decisional management role

Entrepreneur, disturbance handler, resource allocator, negotiator