Chapter 1: Intro to Management

Vocabulary flashcards covering core management functions, resource types, management levels, managerial roles, and skill sets from Chapter 1.

management

the strategic process of planning, organizing, leading, and controlling resources to achieve organizational goals.

planning

the process of setting goals and objectives and figuring out the actions, resources, and strategies needed to make them happen, ensuring alignment between vision, resources, and actions.

organizing

The process of arranging and structuring work, authority, and resources among an organization's members to achieve its goals.

core-four resources

human resources, financial resources, physical resources, informational resources

human resources

the people who carry out organizational activities through defined roles, grouped tasks, and established reporting relationships.

financial resources

the funds available to support operations and objectives, which require budgeting, allocating, and monitoring for efficiency and control.

physical resources

tangible assets such as facilities, equipment, and materials arranged and maintained to optimize productivity and workflow.

informational resources

the data and knowledge used to make informed decisions by managing information flow so individuals have timely, accurate insights.

leading is about…

inspiring, motivating, and guiding people toward achieving goals through effective communication, emotional intelligence, and vision.

controlling

ensuring that performance meets plans by monitoring, comparing, and correcting outcomes using performance metrics and timely feedback.

top managers

managers who establish the organization's vision, define long-term goals, and formulate strategies that guide direction and performance.

middle managers

managers who translate top-level strategies into actionable plans while ensuring organizational goals are implemented at the operational level.

1st-line managers

managers who oversee day-to-day operations, ensuring that tasks are completed efficiently and align with organizational priorities.

interpersonal role

focused on relationships and leadership, serving as figureheads, leaders, and liaisons to represent the organization, motivate employees, and build networks.

informational role

centered on managing and distributing information, acting as monitors, disseminators, and spokespersons.

decisional role

managerial roles involving choices that shape direction, acting as entrepreneurs, disturbance handlers, resource allocators, and negotiators.

conceptual skills

involves big-picture thinking, spotting trends, and strategic problem-solving

human skills

people skills essential for management, including communication, empathy, and conflict resolution.

technical skills

practical, measurable abilities required for execution, such as software use, financial analysis, or equipment operation.