Principles of Management - Module 1 Review

A complete set of vocabulary flashcards covering basic management definitions, functions, nature (art vs science), levels of authority, skills, and Mintzberg's managerial roles based on the provided lecture transcript.

Management (according to Henry Fayol)

To manage is to forecast and plan, to organise, to command, to coordinate, and to control.

Management (according to Frederick. W. Taylor)

Management is an art of knowing what is to be done and seeing that it is done in the best possible manner.

Management (according to Peter Drucker)

A multipurpose organ that manages a business and manages managers and manages workers and work.

Management (according to Koontz and Weihrich)

The purpose of designing and maintaining an environment in which individuals, working together in groups, effectively accomplish selected aims.

Management (according to Harold Koontz)

An art of getting things done through and with the people in formally organized groups; it is an art of creating an environment in which people can perform and individuals can co-operate towards attainment of group goals.

Management (according to Stephen Robbins)

Involves coordinating and overseeing the work activities of others so their activities are completed effectively and efficiently.

Productivity

The output-input ratio within a time period with due consideration for quality, expressed as $\text{PRODUCTIVITY} = \frac{\text{OUTPUT}}{\text{INPUT}}$.

Effectiveness

The achievement of objectives; doing the right things or doing those activities that will result in achieving goals.

Efficiency

The achievements of the ends with the least amount of resources.

Planning

Selecting missions and objectives, decision making, and choosing a future course of action from all alternatives.

Organizing

Establishing a structure of roles for people and creating an environment for human performance.

Staffing

Filling and keeping filled the positions by identifying work force requirements, recruiting, selecting, placing, appraising, and training.

Leading/Directing

Influencing people so that they will contribute to organizational and group goals by managing desires, attitudes, and behavior.

Controlling

Measuring and correcting individuals and organizational performance to ensure that events conform to plans.

Science of Management

A body of systematized knowledge that establishes a relationship between cause and effect, using rational, logical, and systematic ways to approach problems.

Art of Management

The technique of applying principles to actual practice using a blend of intuition, experience, instinct, and personal insights to achieve results.

Top Level Management

Managers such as Managing Director, Chairperson, and CEO who determine enterprise objectives and prepare policies and plans.

Middle Level Management

Managers such as Regional Managers and Project Leaders who execute plans, select personnel, and evaluate performance of junior managers.

Low Level or Supervisory Management

Managers such as Supervisors and Shift Managers who plan activities, issue orders, provide training, and solve workers' problems.

Technical Skill

A manager’s understanding and proficiency in activities involving specific methods, processes, and procedures.

Human/Interpersonal Skills

The ability to interact effectively with people at all levels and create an environment where people feel secure to express opinions.

Conceptual Skill

The ability to see the “bigger picture,” take a broad view of the organization, and understand relationships among different elements.

Design Skill

The ability to design a workable solution to a problem that is viable and feasible in light of realities.

Figurehead

An interpersonal role involving duties of a social and ceremonial nature, such as taking an important customer to lunch.

Leader

An interpersonal role where the manager motivates employees and reconciles individual needs with organizational goals.

Liaison

An interpersonal role involving cultivating contacts outside the vertical chain of command to collect relevant information.

Monitor

An informational role where the manager continually scans the environment for information through personal contacts or subordinates.

Disseminator

An informational role where the manager passes privileged information to subordinates who would otherwise lack access.

Spokesperson

An informational role where the manager provides relevant information to outside groups, shareholders, or government entities.

Entrepreneur

A decisional role where the manager looks for new ideas and tries to improve the unit by adapting to the external environment.

Disturbance Handler

A decisional role where the manager acts like a fire fighter to find solutions for unanticipated problems like strikes or bankruptcies.

Resource Allocator

A decisional role where the manager delegates authority and resources for optimal utilization.

Negotiator

A decisional role involving spending considerable time in negotiations with suppliers or workers over grievances.