MANA Exam One study guide TERMS - Chapter 1 1 2 3...

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Chapter 1 1. Efficiency- Getting work done with a minimum of effort, expense, or waste. 2. Management- Getting work done through others. 3. Effectiveness- Accomplishing tasks that help fulfill organizational objectives Henri Fayol, whom is one of the founders of the field of management, argued that the success of an enterprise generally depends much more on the administrative ability of its leaders than on their technical ability. During a study named Project Oxygen, Google analyzed performance reviews and feedback surveys to identify the traits of its best managers. The four managerial functions needed to be successful are planning, leading, controlling, and organizing. 4. Planning- Determining organizational goals and a means for achieving them. a) Planning encourages people to work harder, to work hard for extended periods, to engage in behaviors directly related to goal accomplishment, and to think of better ways to do their jobs. Most importantly, companies that plan have larger profits and faster growth! 5. Organizing- is deciding where decisions will be made, who will do what jobs and tasks, and who will work or whom in the company. 6. Leading- Inspiring and motivating workers to work hard to achieve organizational goals a) Communication is key. 7. Controlling- Monitoring progress toward goal achievement and taking corrective action when needed. a. 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. 8. Top Managers- Executives responsible for the overall direction of the organization. (Plans time span – within 3-5 years) a. Example: CFO, CEO, CIO, COO b. Responsibilities: i. First, they are responsible for creating a context for change. (Includes forming a long range vision or mission for the company) ii. Second, to develop employees’ commitment to and ownership of the company’s performance. (Employee buy in) iii. Third, must create a positive organizational culture through language and action. Top managers impart company values, strategies, and lessons through what they do and say to others both inside and outside the company. iv. Last, must monitor their business environments. Closely monitor customer needs, competitors’ moves, and long-term business, economic, and social trends 9. Middle Managers- Are responsible for setting objectives consistent with top management’s goals and for planning and implementing subunit strategies for achieving these objectives. (Plans time span – within 6 to 18 months) a. Examples: General Manager, Plant Manager, Regional Manager, Divisional Manager b. Responsibilities : i. Are responsible for setting objectives consistent with top management’s goals and for planning and implementing subunit strategies for achieving those objectives.

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