Principles of Management Lecture Review

A comprehensive set of 50 vocabulary flashcards covering management definitions, functions, levels, roles, and skills based on the provided lecture transcript.

Management

The attainment of organizational goals in an effective and efficient manner through planning, organizing, staffing, directing and controlling organizational resources.

Louis E Boone & David L Kurtz (Management Definition)

The use of people and other resources to accomplish objectives.

Mary Parker Follet (Management Definition)

The act of getting things done through people.

Frederick Taylor (Management Definition)

The art of knowing what you want to do in the best and cheapest way.

Efficiency

Getting the most output from the least amount of inputs; "doing things right."

Effectiveness

Doing those work activities that will help the organization reach its goals; "doing the right things."

Planning

The basic function of management dealing with chalking out a future course of action and deciding in advance the most appropriate course of actions for achievement of pre-determined goals.

KOONTZ (Planning Definition)

Deciding in advance - what to do, when to do & how to do, which bridges the gap from where we are & where we want to be.

Organizing

The process of bringing together physical, financial and human resources and developing productive relationship amongst them for achievement of organizational goals.

Henry Fayol (Organizing Definition)

To provide a business with everything useful for its functioning i.e. raw material, tools, capital and personnel’s.

Leading (Transcript definition)

Indicates filling in the different job positions in the organization’s structure and putting the right man/woman on the right job.

Staffing (Transcript definition)

Entails influencing or motivating subordinates to do their best so that they would be able to help the organization’s endeavor to attain their set goals.

Controlling

Involves evaluating and, if necessary, correcting the performance of the individuals or work groups to ensure they are all working toward the previously set goals and plans.

Scientific Management Theory

A theory by Frederick W. Taylor that uses scientific methods to analyze the most efficient production process in order to increase productivity.

Frederick W. Taylor

Known as the Father of Scientific Management.

General Administrative Theory

An approach by Henry Fayol emphasizing organizational structure and human behavior, following a top-down approach.

Total Quality Management (TQM)

A management framework based on the belief that long-term success comes from all members focusing on improving quality and delivering customer satisfaction.

Management Process

The coordinating and overseeing of the work performance of individuals working together in organizations to efficiently and effectively accomplish chosen goals.

Manager

Someone who coordinates and oversees the work of other people in order to accomplish organizational goals.

Managerial Employees

Individuals responsible for overseeing a group of employees to ensure their efficient functioning and responsible for their team's performance.

Non-managerial Employees

Individuals only responsible for their own work with no overseeing function.

Lower/First-line managers

Managers at the operative level who manage the work of non-managerial employees involved with producing products or servicing customers.

Middle Managers

Managers who perform executory functions, manage day-to-day activity, and facilitate changes dictated by top management.

Top Managers

Managers who perform administrative functions, make organization-wide decisions, and establish plans and goals affecting the entire organization.

Interpersonal Roles

Managerial roles that involve people (subordinates and persons outside the organization) and duties that are ceremonial and symbolic.

Informational Roles

Managerial roles involving collecting, receiving, and disseminating information as the center of communication.

Decisional Roles

Managerial roles that entail making decisions or choices.

Figurehead

An interpersonal role where the manager performs ceremonial duties as head of the organization, such as greeting VIPs or handing out awards.

Leader (Mintzberg Role)

An interpersonal role involving motivating and encouraging workers to accomplish organizational objectives.

Liaiason

An interpersonal role where the manager acts as the main contact from the organization to the rest of the world.

Monitor

An informational role where the manager scans the environment for information and continually updates news related to the business.

Disseminator

An informational role where the manager shares collected information with subordinates and others in the company.

Spokeperson

An informational role where the manager shares information with people outside their departments and companies.

Entrepreneur (Managerial Role)

A decisional role where the manager adapts themselves and their unit to change or innovation to expand and diversify the business.

Disturbance Handler

A decisional role where the manager responds to pressures and problems that demand immediate attention and action.

Resource Allocator

A decisional role where the manager acts as the central authority to allocate scarce resources to various departments.

Negotiator

A decisional role where the manager leads the organization in contracts and agreements made on behalf of the organization.

Technical Skills

The ability to apply specialized knowledge or expertise, such as understanding financial statements or production processes.

Human Skills

The ability to work with, understand, and motivate other people, both individually and in groups.

Conceptual Skills

The mental ability to analyze and diagnose complex situations and to plan or strategize for the future.

Down-top approach

The approach used in Scientific Management Theory focusing on worker efficiency leading to greater managerial efficiency.

Top-down approach

The approach used in General Administrative Theory where effective organizational management affects operational-level workers.

Operative level

The lowest level of management, often called supervisors or shift managers.

Administrative functions

The primary functions performed by top managers, focusing on organization-wide decisions.

Executory functions

The functions performed by middle managers as dictated by top management.

Henri Fayol

A French Industrialist who first proposed in the early 20th century that all managers perform five functions.

Standard Management Framework (Mid 1950s)

The framework using planning, organizing, staffing, directing, and controlling as the primary management functions.

Three types of managerial roles

The categorization of specific managerial behaviors into Interpersonal, Informational, and Decisional roles.

Figurehead examples

Greeting VIPs, handing out awards, cutting ribbons at openings, and leading organization projects.

Conceptual Skill examples

Idea generation and the analytical process of information given market constraints.