MGT 3303 Test 1 Review

MGT 3303 Test 1 Review - Chapter 1: 1. Management & its...

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Chapter 1: 1. Whether you being your career at the entry level or as a supervisor, your job is not to do the work, but to help others do theirs. Thus, the definition of management: getting the work done through others. Pat Carrigan, the manager at a General Motors; car parts plant , says that he has never made a part, nor does he ever plan on making one. But, he creates an environment where the people who do make them, can make them right on the 1 st try at a competitive cost. Carrigan’s idea of working environment shows that managers have to be concerned with the efficiency and effectiveness in the work process. Management Functions : Henri Fayol, CEO of a large steel company: “the success of an enterprise generally depends much more on the administrative ability of its leaders than on their technical ability.” According to Fayol, to be successful, managers need to perform 5 managerial functions: planning, organizing, coordinating, commanding, and controlling. Today, these are known as planning, organizing, leading, and controlling. Planning: is determining organizational goals and a mean for achieving them. Planning, is one of the best ways to improve performance, because it encourages people to work hard for extended amounts of time and to engage in behaviors directly related to goal accomplishments, and they think of better ways to do their job. Companies, that plans have larger profits and faster growth than companies that don’t. Organizing : is deciding where decisions will be made, who will do what jobs and tasks, and who will work for whom in the company. Sometimes organizing even means; splitting an existing company into separate parts. Palm Inc., split their company into palm source and palmone, were palm source develops the software for the handhelds, palm pilots, and smart phones. And palm source makes the handhelds, palm pilots, and smart phones. Controlling : is monitoring progress toward goal achievement and then taking corrective action when progress isn’t being made. The basic control process involves setting standards to achieve goals, comparing, actual performance to those standards, and then making changes to return performance to those standards. Needing to cut the costs {the standard} to restore profitability {the goal} Continental Airlines started giving passengers small cups of their soft drinks instead of an entire can. The flight attendants were pouring almost half of the drinks away. Serving smaller drinks saved the company $100,000 a year in cost. 2. Efficiency vs. Effectiveness
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Efficiency : getting the work done with a min of effort, expense, or waste. But, if you want success, you also have to be effective. Effectiveness : accomplishing tasks that help fulfill organizational objectives. 3.
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MGT 3303 Test 1 Review - Chapter 1: 1. Management & its...

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