Chapter 1
Achieving maximum productivity
What is Efficient
People, money, information, equipment, and materials
What are inputs
Those who pay for the company’s good or services
What are customers
Setting goals and devising a plan to meet those goals
What is planning
Identifying long-term aims and interests and the means of achieving them
Being strategic
This peaceful calm approach helps improve decision making.
What is Mindfulness
The acronym MBTI
What is Myers Briggs Type Indicator
Where you set goals and strategically decide how to achieve them
What is Planning
Conscious knowledge of one’s own character, feelings, motives, and desires; why you do what you do.
What is self-awareness
Employees, Owners & Board of Directors
Who are internal stakeholders
Statements expressing what the company stands for
What are core values
Corporate, Business & Functional.
What are the 3 levels of strategy
The 4 decision making styles
What is Directive. Analytical. Conceptual. Behavioral.
The scientific study of human behavior in organizations and the work place
What is Industrial Psychology
Top manager, middle manager, first line manager, team lead
What are the 4 levels of managment
Products & services, profits & losses, employee satisfaction or discontent
What are outputs
A systematic assessment of a company’s performance in implementing socially responsible programs
What is a social audit
This process involves managers on all levels of the organization planning long term goals
What is strategic Management
When there are little to no changes – being comfortable where the company is
What is stability strategy
A decision making style that may be considered “wishy washy"
What is Behavioral
The 24/7 news cycle and the proliferation of media in the 21st century publicizes and amplifies negative in real time
What is why CEO's are being fired
These managers train & coach; help peers achieve goals & makes sure peers have everything they need to be successful
What is a team lead
He is the father of African American management
Who is Charles Clinton Spaulding
A group of individuals elected to oversee the organizations activities and ensure that management acts in shareholders’ best interests
Who are the board of directors
Specific, Measurable, Achievable, Realistic, Timely
What are SMART Goals
Equipment, Pricing, Marketing & Product Expansion
What is the business level
AI is best used for this specific purpose
What is product enhancement
A manager should end the process of implementing and executing strategic plans this way.
What is Debrief & Conduct a retrospective or review of how the process went.
Communication, self-motivation, leadership, responsibility, team work, problem solving, decisiveness, ability to work under pressure, flexibility, and negotiation/conflict resolution
What are examples of soft skills
He believed in 4 Principles of Scientific Management
Who is Frederick Taylor
Organizations that compete for customers or resources such as talented employees or raw materials.
Competitors
A short statement of why a an organization exists
Mission Statement
This Harvard professor coined the term strategic positioning
Who is Michael Porter
This explains how managers should make decisions
What is rational decision making
Treating your organization as an unfinished prototype is an example of what type of decision making
What is evidence based decision making
Thinking analytically; seeing the big picture; understanding how everything works together
What are conceptual skills
He created Theory X & Theory Y
Who is Douglas McGregor
A vendor who provides raw materials, services, equipment, labor, or energy to organizations.
Supplier
Establishing the mission, vision, & values. Assessing the current reality. Formulating strategic, tactical & operational plans. Implementing the strategy. Maintaining strategic control.
5 Processes of Management
This framework helps sustain a competitive advantage
What is the VRIO Framework
This bias adds up all the money spent on a project and states that because it is so costly the project cannot/should not be abandoned at any juncture even when data proves otherwise
Information about the reaction of the environment to the outputs which affect the inputs
What is feedback
Motivating, directing and otherwise influencing people to work hard to achieve the organizations goal
What is leading
Administrative management has this amount of necessities
What is 8
Helps an organization sell its products or services to customers
Distributor
Focusing, Taking initiative, Setting goals, and Participating
What is being proactive
Monitoring the execution of strategies and taking corrective action if necessary
What is maintaining strategic control
He studied how managers actually make decisions
Who is Herbert Simon
The organizations capabilities in management and technology that are applied to converting inputs into outputs
What are transformational processes
The efficient and effective pursuit of organizational goals.
Management
New research from the UBC Sauder School of Business shows that even if they don’t get money, status or influence, people desire what?
Power
The companies/organizations that join together to achieve advantages that neither can perform alone.
Strategic Allies
What the organization wants to become
Vision Statement
Growth strategy is apart of which level of strategy
Corporate
This may cause issues during group decision making
Groupthink
PETA
What is a special interest group
“The art of strategically overseeing organizational structure efficiently and effectively while innovatively leading a team of individuals in accomplishing the purpose, mission and vision of an organization.”
Professor Hicks' definition of management
Everything begins with a though
Self-Awareness
Changes in the way politics shape laws and laws shape opportunities for threats
Political - Legal Forces
Day to day planning of accomplishing tasks in 1-52 weeks
What is operational planning
Taking a personal assessment. Suspending personal judgement. Gathering relevant information. Determining available options
Assessing the current situation
Makes decisions on initial amounts and figures
Anchoring & Adjustment Bias
Consumers who rely on products or services
Local Community
When the Student is Ready the Teacher will Appear
Tao Te Ching
To build strategic innovative healthcare leaders who are authentic, patient-centered and who consciously connects & aligns with employees.
Professor Hicks' goal
A situation in which you have to decide whether to pursue a course of action that may benefit you or your organization but that is unethical or even illegal
Ethical Dilemma
Contributions of a specific department in the organization that helps you break down and understand your strategy for the next 6-24 months
What is tactical planning
The reason why small businesses need a strategic plan
They stay in survival mode
This bias classifies people or information based on observed or inferred characteristics
Categorical Thinking Bias
A manager’s duty to take actions that will benefit the interests of society as well as of the organizations
Social Responsibility