Functions of Management
What are the four functions of management?
Planning, Organization, Leadership, Controlling
What do Effectiveness and Efficiency measure.
Effectiveness - The appropriateness of the goals an organization is pursuing.
Efficiency - How productively resources are used to achieve a goal.
What are the three levels of management.
Top manager, middle manager, first-line manager.
How many managerial skills are there?
Infinite amount, but they are categorized into three main skills.
What are the three categories of managerial roles?
Informational, Decisional, and Interpersonal.
What are the three steps in planning for a company.
Goal-setting, action planning, allocating resources.
Define high efficiency
What does SVP stand (managerial role)
Senior Vice President
The three managerial skills.
Conceptual, Human, and Technical
Who in the company communicates useful information to employees and influence mood?
Disseminator.
Key steps in controlling.
Evaluate performance based on the goal's objective. Identify a change in course if needed and act swiftly. Communicate and be a champion for change.
Define low efficiency and low effectiveness.
Chose the wrong goals and poor use of resources.
Who allocates department resources and develops and implement activities.
Middle-line manager.
The type of skill needed to perform a certain specified task:
Technical skill
Which role involves seeking out and analyzing info on your organization and industry?
Monitor role.
Who is the manager of Honors Management period 6?
Anthony Sagliocca
What happens to a company with high efficiency and low effectiveness.
Define the conceptual skill:
Ability to analyze and diagnose a situation; Problem-solve.
Who coordinates company activities both internally and externally?
Liaison.
What does the acronym SMART stand for in forming an achievable goal.
Specific, measurable, achievable, relevant, timely.
Define 80/20 rule
80% of the result comes from 20% of the cause.
Which level of management do store managers fall into?
What level do general managers fall into?
Both fall into the first-line managers level.
Three simplified phrases that summarize each managerial skill:
Conceptual: "Read and react"
Human: "People skill"
Technical: "Task Manager"
Difference between negotiator and resource allocator.
Negotiator: Reach agreements within the team between departments, with shareholders, etc.
Resource Allocator: Allocates resources to specific products of the company. Allocates funding and assign staff