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What is management?
directing resources to achieve organizational goals.
What kinds of key functions does management require?
planning
organizing
leading
controlling
What are the 3 roles a manager could have?
Informational
Interpersonal
Decisional
What’s informational?
gathering and sharing data
eg. acting as a companys spokesperson
What’s interpersonal?
interacting with teams and stakeholders
eg. leading or liaising
What’s decisional?
making choices such as allocating reasourc’s or resolving conflict
eg. responding to data breach
What are the skills for effective managers?
They must manage the organization, and understand that different parts to function together better
technical expertise
human relations
conceptual thinking
What are the trends in management?
Crisis management
technology integration
multicultural leadership
emotional intelligence
data-driven decision making
What’s crisis management?
adapting to unexpected challenges
What’s technology integration?
leveraging IT (information technology) to enhance operations
What’s multicultural leadership?
leading diverse teams affectively
What’s emotional intelligence?
Prioritizing empathy and transformative leadershop
What’s data-driven decision making?
Using insights to guide management decisions
Why is it important to plan in management?
planning helps anticipate future challenges and opportunities by setting goals and identifying necessary reasources
What are the four types of planning?
Strategic planning
tactical planning
operational planning
contingency planning
What’s strategic planning?
long-term planning (1-5), dev by top management, helps make sure they achieve their goals and adress external factors
What is operational planning?
Focuses on day-to-day activities, establishing specific procedures and policies
eg. how to boost profit
What’s contingency planning?
Prepares for emergencies or unusual situations by identifying alternative actions and clear communication protocols
What are the 3 management levels?
top management
middle management
supervisory management
What’s top management?
responsible for long-term strategy
eg. CEO, president
What’s Middle management?
design and executes tactical plans
eg. directors
What’s supervisory management?
implements operational plans for daily activities
eg. team leaders
What’s the controlling process in management?
monitoring performance and making adjustments to stay on track
setting standards
measuring performance
comparing against goals
taking corrective action
What are the types of power in management?
legitimate power
reward power
coercive power
expert power
referent power
What’s Legitimate power?
Based on position?
eg. CEO making company-wide decisions
What’s reward power?
Control over incentives like bonuses or promotions
What’s Coercive power?
Ability to enforce consequences, such as issuing warnings
What’s expert power?
based on specialized knowledge
eg. senior engineer
What’s referent power?
based on charisma and respect
eg. a respected team leader
What are the 3 leadership styles?
autocratic
participative
free-rein
What’s autocratic leader?
leader makes decisions independently?
eg. military command
What’s participative?
involves collaboration and team input
eg. marketing brainstorming
What’s free-rein
delegates decision making to the team, granting autonomy
eg. creative agency
