Management 3335

Management 3335 - Chapter 1 Management The art of getting...

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Chapter 1 Management: The art of getting things done through people. General Managers : Managers responsible for the overall performance of an organization or one of its major self-contained subunits or divisions. Functional Managers : Managers responsible for leading a particular function or a subunit within a function. Frontline Managers : Managers who manage employees who are themselves not managers. Competencies : A manager’s skills, values, and motivational preferences. Conceptual Skills : The ability to see the big picture. Technical Skills : Skills that include mastery of specific equipment or following technical procedures. Human Skills : Skills that managers need, including the abilities to communicate, persuade, manage conflict, motivate, coach, negotiate, and lead. Values : Stable, evaluative beliefs that guide our preferences for outcomes or courses of action in a variety of situations. Enacted Values : Values that actually guide behavior. Espoused Values : What people say is important to them. Shared Values : Values held in common by several people. Ethical Values : Values that society expects people to follow b/c they distinguish right from wrong in that society. Personalized power orientation : Seeking power for personal gain. Socialized power orientation : Accumulating power to achieve social or organization objectives.
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Chapter 2 External Environment : Everything outside a firm that might affect the ability of the enterprise to attain its goals. Task Environment : Actual and potential competitors, suppliers, and buyers(customers or distributors); firms that provide substitute products to those sold in the industry; and firms that provide products. General Environment : Political and legal forces, macroeconomic forces, demographic forces, socio-cultural forces, technological forces, and international forces. SWOT : Strengths, weaknesses, opportunities, and threats. Five Forces mode l: Model of competitive forces that determine the intensity of competition in an industry. Barriers to Entry : Factors that make it costly for potential competitors to enter an industry and compete with firms already in the industry. Economics of scale ; Cost reductions associated with large output.
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Brand Loyalty : The preference of consumers for the products of established companies. Bargaining Power of Buyers : Ability of buyers to bargain down prices charged by firms in the industry or to raise the costs of firms in the industry by demanding better product quality and service. Switching costs : The time, energy, and money required to switch from the products offered by one enterprise to those offered by another. Bargaining power of suppliers : Ability of suppliers to bargain up prices charged by firms in the industry or to raise the costs of firms in the industry by supplying lower quality products and services.
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