Managerial Functions Related to Governance

These flashcards cover key concepts from the lecture on managerial functions related to governance, offering definitions and clarifications for important terms and processes.

Four Functions of Management

Planning, Organizing, Leading, and Evaluating.

Planning

The process of formalizing objectives, determining time standards, and managing efficiency to achieve effective results.

Reasons for Resistance to Planning

Common reasons include comfort with existing methods, feelings of futility, and intimidation due to lack of planning skills.

Short-term Plans

Plans covering projects and events within 1-3 years.

Long-term Plans

Plans for projects and events extending 3 or more years into the future.

Standing Plans

Plans that are in place and consulted as certain events repeat.

Single-use Plans

Plans developed for one-time-only events.

Vision Statement

A future-based statement meant to inspire and guide company employees.

Mission Statement

Focuses on the organization’s purpose, philosophy, and values.

Goals

Broad qualitative statements that provide general direction and are achievable.

Objectives

Quantitative statements that are measurable and tied to achieving specific goals.

Tactics

Specific how-to steps used to achieve objectives.

Roles

Identification of organizational units and necessary behaviors to carry out tactics.

Evaluation of Planning Process

The assessment of the planning process to ensure consistency with objectives.

Organizing

The process of delegating tasks and coordinating resources to achieve objectives.

Impact of Organizing

Influences flow of information, collaboration, coordination, and allocation of power.

Decision Making

A two-part process involving gathering and analyzing information.

Routine Decisions

Straightforward decisions based on established policies.

Complex Decisions

Unique, non-programmed decisions requiring deeper analysis.

Rational Model of Decision Making

A structured approach to decision-making that includes identifying problems, gathering information, and evaluating options.

SLEEPE Principle of Decision Making

A holistic decision-making model considering social, legal, economic, ethical, political, and educational ramifications.

Role of Decision Making in Governance

Decisions shape organizational direction and are subject to public scrutiny.