Managing & Performing
The process of planning, organizing, leading, and controlling resources to achieve organizational goals
What is management?
This establishes the course for an organization by deciding what needs to be accomplished and how to achieve it.
What is planning?
These two statements state where an organization wants to be in the future, describes what the organization does every day.
What is a vision and mission?
These types of decisions are repeated over time, have well-understood criteria, and often use mental shortcuts called heuristics and might be simple, or they could be fairly complex.
What are programmed decisions ?
Defined as the measure of how efficiently inputs are converted into outputs
What is productivity?
This evaluates whether an organization is staying on track and taking corrective action when necessary.
What is controlling?
An analysis conducted with 4 different parts, two internal factors, and two external factors
What is a SWOT analysis?
Defined as the the tendency of decision makers to remain committed to poor decision, even when doing so leads to increasingly negative outcomes.
What is emotional intelligence?
Defined as planning, organizing, leading, controlling
What are four major functions of management?
In opposition to hybrid planning, this planning style concentrates on a specific area or function of an organization. Ex: marketing or finance.
What is domain planning?
Managers use this when they want to evaluate an organization’s current position before developing or changing a strategy.
What is, the purpose of a SWOT analysis?
This cognitive barrier occurs when decision makers remain committed to a poor choice, even when doing so leads to increasingly negative outcomes, because admitting a mistake is difficult.
What is escalation of commitment?
Defined as a specific result or standard that an employee or organization is expected to achieve
What is a performance goal?
Managers and employees work together in this approach to establish goals that are later measured to assess performance.
What is Management by Objectives (MBO)?
Managers use this to examine the big-picture external environment by looking at political, economic, social, technological, environmental, and legal factors.
What is a PESTEL analysis?
Defined as the idea that for complex issues we cannot be completely rational because we cannot fully grasp all the possible alternatives, nor can we understand all the implications of every possible alternative.
What is bounded rationality?
Who coined the three core management roles? (Informational, Interpersonal, Decisional)
An organization develops goals with employees, measures their growth, and takes corrective action when results don't align with the established goals. This example combines these two major management functions.
What are planning and controlling?
This tool focuses specifically on the competitive environment of an industry, which helps managers understand forces like competitors, suppliers, buyers, new entries, and substitutes.
What is Porter's Five Factors?
When a decision maker selects the first acceptable solution without engaging in additional effort to identify the absolute best solution, they are using this technique.
What is satisficing?