management study guide test 1

management study guide test 1 - Exam 1 Study Guide (50 MC...

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Exam 1 Study Guide (50 MC Questions) Chapter 1: Introduction 1. Introduction: Importance of Managers and Human Capital -Management: the art of getting things done through people in the organization -Leaders= focused on future Managers= focused on here and now -Managers: - give org. a sense of purpose and direction, create new ways of producing and distributing goods and services, change how the world works through their actions 2. Four Functions of Management a. Planning and Strategizing i. Planning -A FORMAL PROCESS whereby managers choose goals, identify actions, allocate responsibility for implementing actions, measuring the success, and revising plans -used to develop overall strategies, but also includes regulating organizational activities ii. Strategizing - The process of thinking through on a CONTINUAL basis what strategies an organization should pursue to attain its goals - an action that managers take to attain the goals b. Organizing - involves deciding who? And where? Planning is the what? And when? c. Leading and Developing Employees i. Leading -the process of motivating, influencing, and directing others in the organization to work productively in pursuit of organization goals ii. Developing Employees -the task of hiring, training, mentoring, and rewarding employees in a an organization, including other managers d. Controlling - the process of monitoring performance against goals, intervening when goals are not met, and taking corrective action - first step is drafting plans - creating incentives that align employees’ and organizations interests is important 3. Types of Managers - four functions of management differs in importance w/ different levels of bus. a. Corporate Level General Managers -overall organization’s performance b. Business Level General Managers c. Functional Managers -specific function(finance, marketing. Etc.) 1
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d. Frontline Managers -employees doing the work 4. Becoming a Manager a. From Specialist to Manage -begins when people are successful at a specific task, needs to be able to get things done through other people b. Mastering the Job - large difference btwn expectations and reality “people challenges” are biggest issue within the first year of a management job 5. Mintzberg’s Managerial Roles a. Interpersonal Roles -involve interacting with other people inside and outside the org. i. Figurehead -greet visitors, represent company in community, spokesperson ii. Leader -influence, motivate and direct others, as well as strategize, plan, organize, control and develop iii. Liaison - connect with people outside their immediate unit b. Informational Roles -conceptual skills i. Monitor -gathering ii. Disseminator -gives information to employees iii. Spokesperson -gives information to the public c. Decisional Roles - deals with action i. Negotiator -negotiation is continual for managers ii. Resource Allocator -how best to allocate scarce resources iii. Disturbance Handler -addressing unanticipated problems as they arise and resolving
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management study guide test 1 - Exam 1 Study Guide (50 MC...

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