Management
the pursuit of organizational goals efficiently and effectively
Organization
a group of people who work together to achieve some specific purpose
Management (detailed definition)
1. The pursuit of organizational goals efficiently and effectively by
2. Integrating the work of people through
3. Planning, organizing, leading, and controlling the organization's resources
Efficiency
the means"; efficient means to use resources (people, money, raw materials) and the like- wisely and cost effectively
Effectiveness
the ends"; effective means to achieve results, to make the right decisions, and to successfully carry them out so that they achieve the organization's goals
Competitive Advantage
: the ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them.
Innovation
finding ways to deliver new or better goods or services (avoid becoming complacent!)
Internet
the global network of independently operation but interconnected computers, linking hundreds of thousands of smaller networks around the world
E-commerce
the buying and selling of goods or services over computer networks
E-business
using the internet to facilitate every aspect of running a business
text messages and documents transmitted over a computer network
Project management software
programs for planning and scheduling the people, costs, and resources to complete a project on time
Databases
computerized collections of interrelated files
Telecommute
work from home or remote locations using a variety of information technologies
Videoconferencing
using video and audio links along with computers to let people in different locations see, hear, and talk with one another
Collaborative computing
using state-of-the-art computer software and hardware, will help people work better together
Knowledge management
the implementing of systems and practices to increase the sharing of knowledge and information throughout an organization
Sustainability
economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs
Management process/four management functions
planning, organizing, leading, and controlling
Planning
defined as setting goals and deciding how to achieve them
Organizing
defined as arranging tasks, people, and other resources to accomplish the work
Leading
is defined as motivating, directing, and otherwise influencing people to work hard to achieve the organization's goals
Controlling
is defined as monitoring performance, comparing it with goals, and taking corrective action as needed
Top Managers
make long-term decisions about the overall direction of the organization and establish the objectives, policies, and strategies
Middle Managers
implement the policies and plans of the top managers above them and supervise and coordinate the activities of the first-line managers below them
First-Line Managers
make short-term operating decisions, directing the daily tasks of nonmanagerial personnel
Functional Manager
is responsible for just one organizational activity (example: vice president of production, director of finance, administrator of human resources)
General Manager
is responsible for several organizational activities (example: executive vice president (in charge of production, finance, and human resources)
Interpersonal Roles
(Figurehead, leader, and liaison): managers interact with people inside and outside their work units
Informational Roles
(Monitor, Disseminator, and Spokesperson): managers receive and communicate information with other people inside and outside the organization
Decisional Roles
(entrepreneur, disturbance handler, resource allocator, and negotiator): managers use information to make decisions to solve problems or take advantage of opportunities
Entrepreneurship
is the process of taking risks to try to create a new enterprise
Entrepreneur
is someone who sees a new opportunity for a product or service and launches a business to try to realize it
Intrapreneuer
is someone who works inside an existing organization who sees an opportunity for a product or service and mobilizes the organizations resources to try to realize it
internal locus of control
the belief that you can control your own destiny
Necessity entrepreneur
a laid-off corporate worker, discharged military people, immigrants or divorced homemakers who suddenly must earn a living and are simply
Opportunity entrepreneur
those who start their business out of a burning desire rather than because they lost a job, they tend to be more ambitious and to start firms that can lead to high-growth business
Technical skills
consist of the job-specific knowledge needed to perform well in a specialized field
Conceptual skills
consist of the ability to think analytically, to visualize an organization as a whole and understand how the parts work together
Human skills
consist of the ability to work well in cooperation with other people to get thing done (aka soft skills)