management (a practical introduction) chapter 1

organization
group of people who work together to achieve a goal
management
the pursuit of organizational goals efficiently and effectively by integrating the work of people through planning, organizing,leading, and controlling the resources
efficient
to use resources- people, money, and raw materials wisely and cost-effectively
effective
to achieve results, to make the right decisions and to successfully carry them out so that they achieve the goals
mentor
experienced person who provides guidance
four management functions
planning, organizing, leading, and controlling
planning
setting goals and deciding how to achieve them
organizing
arranging tasks, people, and other resources to accomplish the work
leading
motivating, directing, and otherwise influencing people to work hard to achieve goals
controlling
monitoring performance, comparing with goals, and taking corrective action if needed
competitive advantage
ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them
innovation
finding ways to deliver new or better goods or services
sustainability
economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs
top managers
make long term decisions about the overall direction of the organization and establish the objectives, policies, and strategies for it
middle managers
implement the policies and plans of the top managers above them and supervise and coordinate the activities of the first line managers below them
high touch
jobs dealing with people rather than computer screens or voice-response systems
first-line managers
make short term operating decisions, directing the daily tasks of non managerial personnel
team leader
a manager who is responsible for facilitating team activities toward achieving key results
functional manager
responsible for just one organizational activity
general manager
responsible for several organizational activities
for-profit organizations
for making money
non-profit organization
for offering services
mutual benefit organizations
for aiding members
technical skills
consists of the job-specific knowledge needed to perform
conceptual skills
consists of the ability to think analytically to visualize an organization as a whole and understand how the parts work together
human skills
consists of the ability to work well in cooperation with other people to get things done
soft skills
the ability to motivate, inspire trust, to communicate with others
interpersonal roles
managers interact with people inside and outside their work units
informational roles
monitor, disseminator, and spokesperson
decisional roles
managers use information to make decisions to solve problems or take advantage of opportunities.
start-up
newly created company designed to grow fast
entrepreneur
sees a new opportunity for a product or services and launches a new business to try to realize it
intrapreneur
someone who works inside an existing organization who sees an opportunity for a product or service and mobilize the organizations resources to try to realize it
internal locus of control
the belief that you control your own destiny