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Top or senior Management- Establishes the objectives of the organization, formulates the actions necessary for them to achieve them, and allocates the resources of the organization to achieve the objectives. Middle Management- Responsible for implementing and achieving organizational objectives; also responsible for departmental objectives and actions Supervisory Management Manages operative employees; generally considered the first level of management Role Set of behaviors associated with a particular job Planning Deciding what objectives to pursue during a future period and what to do to achieve those objectives Organizing Grouping activities, assigning activities, and providing the authority necessary to carry out the activities Staffing Determining human resource needs and recruiting, selecting, training, and developing human resources Leading Directing and channeling human behavior toward the accomplishment of objectives.
Controlling Measuring performance against objectives, determining the causes of deviations and taking corrective action where necessary Conceptual Skills Involve understanding the relationship part of a business to one another and to the business as a whole.
Decision making, planning, and organizing are specific managerial activities that require conceptual skills Human Relations Skills Involve understanding people and being able to work well with them Technical Skills Involve being able Sta-301 mid term papers perform the mechanics of a particular job.
Principle A basic truth or law. Glass ceiling Refers to a level within the managerial hierarchy beyond which very few women and minorities advance Diversity Including people of different genders, races, religions, nationalities, ethnic groups, Sta-301 mid term papers groups, and physical abilities.
Professional Manager An individual who performs the basic management functions for the ongoing organization Entrepreneur An individual who conceives the idea of what product or service to produce, starts the organization, and builds it to the point where additional people are needed.
Small business A company that is independently owned and operated and is not dominant in its field; generally has fewer than employees Intrapreneurship Entrepreneurship within a large or medium-sized companyCH. Scientific Management Philosophy of Fredrick W.
Taylor that sought to increase productivity and make work easier by scientifically studying work methods and establishing standards. Period of Solidification A period in the s and s in which management become recognized as a discipline.
Hawthorne Studies Series of experiments conducted in the at the Hawthorne plant of Wester Electric in Cicero, Illinois; production increased in relationship to physiological and social conditions rather than to the environment. McCormick multiple management Plan Developed by Charles McCormick, a plan that uses participation as a training and motivational tool b selecting promising young employees from various company departments to form a junior board of directors Bottom-up Management Philosophy popularized by William B.
Given that encouraged widespread delegation of authority to solicit the participation of all employees from the bottom to the top of the organization Scanlon Plan Incentive plan developed in by Joseph Scanlon to give workers a bonus for tangible savings in labor cost Process approach to Management Focuses on the management functions of planning, controlling, organizing, staffing, and leading.
Management Theory Jungle Term developed by Harold Koontze referring to the division of thought that resulted from the multiple approaches to studying the management process Systems approach to Management A way of thinking about the job of managing that provides a framework for visualizing internal and external environmental factors as an integrated wholeContingency approach to Management Theorizes that different situations and conditions require different management approaches.
Theory Z A theory developed by William Ouchi that attempts to integrate American and Japanese management practices by combing the American emphasis on individual responsibility with the Japanese emphasis on collective decision making, slow evaluation and promotion, and holistic concern for employees.
Peters and Robert H. Waterman Jr, that identifies 36 companies with an excellent year performance record. The authors identified eight characteristics of excellence after interviewing managers in each company.
Semantics The science or study of the meaning of words and symbols Perception The mental and sensory processes an individual uses in interpreting information received Active listening Absorbing what another person is saying and responding to the persons concerns Feedback The flow of information from the receiver to the sender Paralanguage A form of nonverbal communication that includes the pitch, tempo, loudness, and hesitation in the verbal communication Grapevine Informal channels of communication within an organization Internet A global collective of independently operating, but interconnected computers Intranet - A private, corporate computer network that uses internet products and technologies to provide multimedia applications within an organizationCH.
Intelligence is searching the environment for conditions requiring a decision Design is inventing, developing and analyzing possible courses of action. Choice is the actual selection of a course and action. Decision Making In its narrowest sense, the process of choosing from among various alternatives.
Problem Solving Process of determining the appropriate responses or actions necessary to alleviate a problem. Programmed decisions decisions that are reached by following an established or systematic procedure.
Non-programmed decisions Decision that have little or no precedent; they are relatively unstructured and generally require a creative approach by the decision maker. Intuitive approach approach used when managers make decisions based largely on hunches and intuition Optimizing approach Includes the following steps: Principle of bounded rationality Assumes people have the time and cognitive ability to process only a limited amount of information on which to base decisions.
Optimizing Selecting the best possible alternative. Satisficing Selecting the first alternative that meets the decision makers minimum standard or satisfaction Level of aspiration Level of performance that a person expects to attain; determined by the persons prior successes and failures Situation of Certainty Situation that occurs when a decision maker knows exactly what will happen and can often calculate the precise outcome for each alternative.
Situation of risk Situation that occurs when a decision maker is aware of the relative probabilities of occurrence associated with each alternative Situation of Uncertainty- When decision maker has very little or no reliable information in which to evaluate the different possible outcomes Maximax Approach Selecting the alternative whose best possible outcome is the best of all possible outcomes for all alternative; sometimes called the optimistic or gambling approach to decision making Maximin Approach Comparing the worst possible outcomes for each alternative and selecting the one that is least undesirable; sometimes called the pessimistic approach to decision making.
Risk-Averting Approach Choosing the alternative with the least variation among its possible outcomes Value A conception, explicit or implicit, that defines what an individual or a group regards as desirable, people are not born with values rather they acquire and develop them early in lifeEthics A set of moral principles or values that govern behavior Creativity Coming up with an idea that is new, original, useful, or satisfying to its creator or to someone else.
Innovation Process of applying a new and creative idea to a product, service, or method of operation.
Brainstorming Presenting a problem to a group and allowing group members to produce a large quantity of ideas for its solution; no criticism are allowed initially Gordon Technique Differs from brainstorming in that no one but the group leader knows the exact nature of the real problem under consideration.
A key word used to describe a problem area. Normal Group Technique NGT Highly structured technique for solving group tasks; minimizes personal interactions to encourage activity and reduce pressure towards conformity Brainwriting A technique in which a group is being presented with a problem situation and members anonymously write down ideas, then exchange papers with others, who build on the ideas and pass them on until all members have participated Synectics Creative problem solving technique that uses metaphorical thinking to make the familiar strange, and the strange familiar.
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Management Information System MIS An info sys used by managers to support the day-to-day operational and tactical decision making needs of managers. Data Processing Capture, processing, and storage of data Transaction-Processing System Substituting computer processing for manual recordkeeping procedures.
Social Audit A method used by management to evaluate the success or lack of success of programs designed to improve the social performance of the organization Regulations Rules that the government agencies issue to implement lawsSole Proprietorship A business owned by a single individual, or proprietor Partnership An association of two or more persons who jointly own a for profit business Limited liability partnership LLP A partnership where liability is limited to the amount of money invested in a business or any guarantee given Corporation A business formed under state or deferral statues that is authorized to act as a legal person Limited Liability Company LLC Similar to a corporation, owners have limited personal liability for the debts and actions of the LLC.
Income Tax A tax levied against a business s profits Property Tax Ta levied against property, buildings, and land owned by a business. Patent The document the federal government issues to inventors and companies that gives them the exclusive right to their inventions for 17 yeas Trademark A word, name, symbol, or slogan a business uses to identify its own goods Copyright The protection provided to a creative work Contract An agreement between two parties to carry out a transactionCH.
MBO works best when the objectives of each organizational unit are derived from the objectives of the next higher unit in the organization.The question papers are generated from a Question Bank that has been populated for this purpose by experienced instructors and is continuously refreshed with new questions added on a daily basis.
Dec 24, · Virtual University Desk. Virtual University Of Pakistan Network. Home. Planner was a tool within the Blackboard app that was discontinued in Q4 The Blackboard app continues to be available. Learn more about the Blackboard app.
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