examtwodefs - Chapter Seven Management process designed to...

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Chapter Seven Management – process designed to achieve an organization’s objectives by using its resources effectively and efficiently in a changing environment Managers – individuals who make decisions about the use of resources and who are concerned with planning, organizing, staffing, directing, and controlling the organization’s activities to reach its objectives Planning – the process of determining the organization’s objectives and deciding how to accomplish them; the first function of management Mission – the statement of an organization’s fundamental purpose and basic philosophy Strategic plans – plans that establish the long-range objectives and overall strategy or course of action by which a firm fulfills its mission Tactical plans – short-range plans designed to implement the activities and objectives specified in the strategic plan Operational plans – very short-term plans that specify what actions individuals, work groups or departments need to accomplish in order to achieve the tactical plan and ultimately the strategic plan Crisis management (contingency planning) – an element in planning that deals with potential disasters such as product tampering, oil spills, fire, earthquake, computer virus, or airplane crash Organizing - the structuring of resources and activities to accomplish objectives in an efficient and effective manner Staffing – the hiring of people to carry out the work of the organization Downsizing – the elimination of significant number of employees from an organization Directing – motivating and leading employees to achieve organizational objectives Controlling – the process of evaluating and correcting activities to keep the organization on course Top managers – the president and other top executives of a business, such as the CEO, CFO, and COO, who have overall responsibility for the organization Middle managers – members of an organization responsible for the tactical planning that implements the general guidelines established by top management First-line managers – supervise both workers and the daily operations of an organization Financial managers – focus on obtaining needed funds for the successful operation of an organization and using those funds to further organizational goals Production and operations managers – develop and administer the activities involved in transforming resources into goods, services, and ideas ready for the marketplace Human resources managers – handle the staffing function and deal with employees in a formalized manner Marketing managers – responsible for planning, pricing, and promoting products and making them available to customers IT managers – responsible for implementing, maintaining, and controlling technology applications in business, such as computer networks Administrative managers – manage an entire business or a major segment of a business;
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This note was uploaded on 04/16/2008 for the course MGMT 100 taught by Professor Sicina during the Fall '06 term at American.

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examtwodefs - Chapter Seven Management process designed to...

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