Vocab
The art and science of successfully pursuing desired results with the resources available to the organization.
Management.
The _____ process refers to setting goals and deciding how to achieve them.
Planning
The figurehead, leader, and liaison role are subcategories of this management role.
Interpersonal Role
_________ management emphasized the scientific study of work methods to improve the productivity of individual workers.
Scientific
What is a strategy used by firms to discourage a hostile takeover in which the target company attempts to make its stock less attractive to the acquirer?
Poison Pill
What are the SMART Principles?
Specific, Measurable, Attainable, Realistic, Timely
The ____ process refers to the utilization of the company's resources and capabilities to achieve organizational goals.
Organizing
This roles receives and communicates information.
Informational Role
Who was the first to enumerate the 4 functions of management?
Henri Fayol
Who is the father of modern management?
Peter Drucker
It spells out the direction of the firm and describes its destination.
Mission Statement.
The ______ process refers to motivating, directing, and otherwise influencing people to work hard to achieve the organization's goals.
Leading
This role obtains, transmits, and uses information to make decisions, solve problems, or take advantage of opportunities.
Decisional Role
This type of management refers to the application of quantitative techniques, such as stats.
Quantitative Management.
Who is the father or scientific management?
Frederick W. Taylor
What does the acronym DIRTI - 5 stand for?
Depreciation, Interest, Repairs, Taxes, and Insurance
This process refers to monitoring performance, comparing it with goals, and taking corrective action as needed.
Controlling
Which of these roles is NOT a subcategory of the informational role?
a) monitor
b) spokesperson
c) negotiator
d) disseminator
C) negotiator
This type of management focuses on more effectively managing the production and delivery of an organization's products or services.
Operations Management
What does PERT stand for?
Program Evaluation and Review Technique
What are Porter's 5 Forces?
Threat of new entrants
Power of buyers
Power of suppliers
Threat of substitutes
Competitive rivalry
Planning, organizing, leading, and controlling.
In the role of a figurehead, a manager symbolizes the organizations ______ and ______.
Objective and Mission
This time of management is dedicated to continuous quality improvement, training, and customer satisfaction.
Total Quality Management
What is the translation for the phrase Caveat Emptor?
Let the Buyer Beware.