Term
| What are the three roles of management? |
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Definition
- Interpersonal Roles
- Informational Roles
- Decisional Roles |
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Term
| What are Interpersonal Roles? |
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Definition
- Include providing leadership, building and maintaining relationships with internal and external stakeholders and engaging in networking and liaising activities.
- The number of ‘connections’ (developed through networking and other related activities) becomes increasingly important as managers progress upwards through an organisational hierarchy |
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Term
| What is an Informational Role? |
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Definition
- Includes gathering information from internal and external sources, and analysing/ summarising this information.
- Senior managers need to monitor more information sources but are unable to examine as many specific details from each one. They also become increasingly reliant on subordinates to fulfil parts of the gathering role and therefore may be at a greater risk of falling ‘out of touch’ with what is happening on the shop floor
- includes important activities such as communicating information to internal and external stakeholders across every conceivable media platform and channel
- Some organisations use ‘executive dashboards’ to present carefully filtered and timely highlights of key performance parameters to managers |
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Term
| What are Decisional Roles? |
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Definition
- Include the plethora of decisions that managers must make
- Some are routine and daily, whereas others may only occur once or twice in a manager’s career.
- Some decisions have to be made quickly and are largely guided by intuition, while others may be adequately informed by rigorous data collection and analysis.
- Decision making responsibility is increasingly being pushed further down organisational hierarchies – which may allow for increased work flow and saving the time of senior management. |
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Term
| Six steps of the Planning Function |
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Definition
1) Defining the Mission, Vision, and Values: Mission statements
2) Performing a SWOT analysis
3) Developing Forecasts
4) Analysing the completion
5) Establishing Goals and Objectives
6) Developing Action Plans |
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Term
| The Planning Function- Step 1. Defining the Mission, Vision, and Values: Mission statements |
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Definition
| a brief statement about why an organisation exists; vision statements encapsulate an inspirational expression of what a company aspires to be, and values statements articulate the principles that guide company decisions and behaviour. |
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Term
| The Planning Function- Step 2. Performing a SWOT analysis |
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Definition
| Involves examining a company’s internal strengths and weaknesses, and external opportunities and threats. |
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Term
| The Planning Function- Step 3. Developing Forecasts |
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Definition
- Forecasts requires managers to attempt to predict what, when, and how certain events will happen and effect the company into the future.
- Quantitative and Qualitative forecasts |
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Term
| The Planning Function- Step 4. Analysing the completion |
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Definition
| Including performing a SWOT analysis on each of your major competitors (with whatever information you have available). |
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Term
| The Planning Function- Step 5. Establishing Goals and Objectives |
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Definition
| Goals are a broad, long range target or aim. Objectives are a specific, short- range target or aim. Goals and objectives are advised to be ‘SMART’ |
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Term
| The Planning Function- Step 6. Developing Action Plans |
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Definition
| Plans involves developing a plan to reach the goals and objectives set in place. Overall plans will likely need to be supported through all levels of the organisational hierarchy. |
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Term
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Definition
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Term
| Good leaders possess a balance of three types of intelligence: |
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Definition
1. Cognitive Intelligence - Reasoning, problem solving, memorization and other skills.
2. Emotional Intelligence - Awareness of, and ability to, manage their own (and others’ potential responses to their) emotions.
3. Social Intelligence - Looking outward to understand the dynamics of social situations and the emotions of others. |
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Term
| Three styles of Leadership: |
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Definition
1. Autocratic Leadership
2. Democratic Leadership
3. Laissez-faire leadership |
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Term
| What is Autocratic Leadership? |
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Definition
- Manager makes the decisions and issues directives down the
chain of commands.
- Subordinates have little or no freedom to make decisions, deviate from
-Plans, or provide contrary input. |
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Term
| What is Democratic Leadership? |
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Definition
- Manager shares decision-making authority, seeking input and inviting subordinates to participate in a coo'rdinated planning process.
-Group can encourage a change of course if needed. |
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Term
| What is Laissez-faire Leadership? |
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Definition
- Manager acts as advisor and supporter, offering input when asked but generally letting subordinates chart and adjust their own course toward meeting agreed-upon goals and
objectives. |
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Term
| What is meant by Coaching? |
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Definition
| To do with helping employees reach their highest potential by meeting with them, discussing problems, and offering suggestions and encouragement. |
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Term
| What is meant by Mentoring? |
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Definition
| occurs when experienced managers guide less experiences colleagues in the nuances of such things as office politics and serves as a role model for appropriate behaviour – helping them to negotiate the corporate structure and hierarchy. |
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Term
| There Steps to Managing Change: |
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Definition
1. Identify everything that needs to change.
2. Identify the forces acting for and against a change. (By understanding these forces, managers can work to amplify the forces that will facilitate the change and remove or diminish the negative forces)
3. Choose the approach best suited to the situation. (Managers can institute change through a variety of techniques, including communication, education, participation in decision making, negotiation, visible support from top managers or other opinion leaders, or coercive use of authority)
4. Reinforce changed behavior and monitor continued progress |
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Term
| Importance of building a positive organisational culture |
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Definition
- Culture can be a negative or a positive rce i n an organization , and managers set the tone by establishing e ectations, defining rules and policies that shape behavior, and acting as role models.
- Positive cultures create an en ronment that encourages employees to make smart decisions r the good of the com pany and its customers.
- In contrast, negative, dys nctional cultures can lead employees |
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Term
| What is meant by 'Controlling' in management? |
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Definition
| - The management function of keeping a company's activities on track toward previously established goals |
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Term
| Four Steps of the Control Cycle |
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Definition
1) establishing performance standards based on the strategic plan
2) measuring performance
3) comparing performance to standards
4) responding as needed. |
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Term
| The Control Cycle 1) establishing performance standards based on the strategic plan Explanation |
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Definition
Standards: the criteria against which
- Top managers set standards r the organization as a whole, such as revenue and profitability targets.
- Then for their individual areas of responsibility middle and first-line managers set standards based on the overall organizational standards of performance.
- Knowing which variables to use as standards and the values to set as per rmance targets can require a lot of experience and experimentation.
- Choosing variables that are truly meaning rather than just easy to measure can also be a signi cant challenge.
- A common approach to setting standaras is benchmarking: comparing a company's key performance attributes with those of industry leaders.
- One of the most important performance variables that fall under managerial control is quality: a measure of how closely activities or outcomes conform to predetermined standards and customer expectations. |
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Term
| The Control Cycle 2) measuring performance, 3) comparing performance to standards, 4) responding as needed. |
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Definition
Includes the balanced scorecard approach – which monitors the performance from four perspectives: Finances; Operations; Customer relationships, and; Growth and development of employees and intellectual property
- It is important for managers to be able to make clear, decisive, and effective decisions in extraordinary circumstances |
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Term
| What is Crisis Management? |
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Definition
| Management involved procedures and systems for minimising the harm that might result from some unusually threatening situations. This may include contingency plans and communication plans. |
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