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Unformatted text preview: Chapter 1 Notes Manager’s Terms Organization – a group of people working together in a structured and coordinated fashion to achieve a set of goals. Management – a set of activities (including planning and decision making, organizing, leading, and controlling) directed at using an organization’s rexources (human, financial, physical and information) to achieve organizational goals in an efficient and effective manner. Efficient – using resources wisely and in a cost-effective way Effective – making the right decisions and successfully implementing them. Top managers – relatively small group of senior executives who manage the overall organization Middle managers – relatively large set of managers responsible for implementing the policies and plans developed by the top managers and for supervising and coordinating the activities of lower-level managers First-line managers – managers who supervise and coordinate the activities of operating employees Planning – setting an organization’s goals and deciding how best to achieve them Decision making – selecting a course of action from a set of alternatives Organizing – determining how organizational activities and resources are to be grouped Leading – the set of processes used to get members of the organization to work together to further the interests of the organization Controlling – monitoring organizational progress toward goal attainment Technical skills —the skills necessary to accomplish or understand the specific kind of work being done in an organization Interpersonal skills – the ability to communicate with, understand and motivate both individuals and groups Conceptual skills – the manager’s ability to think in the abstract Diagnostic skills —the manager’s ability to visualize the most appropriate response to a situation Communication skills – the manager’s ability both to convey ideas and information to others effectively and to receive ideas and information effectively from others Decision-making skills – the manager’s ability to recognize and correctly define problems and opportunities and then to select an appropriate course of action to solve problems and capitalize on opportunities Time-management skills – the manager’s ability to prioritize work, to work efficiently, and to delegate appropriately Theory – a conceptual framework for organizing knowledge and...
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