Management and leadership0- chapter 8

Resources

general term that incorporates human resources natural resources and final resources

Management

the process used to accomplish organizational goals through planning directing organizing and
controlling

Goals

long term accomplishments and organizations wishes to attain

objectives specific short-term statements detailing how to achieve the organization's goals

plans

ordered sequence of strategy and organization uses to achieve each objective

SWOT analysis

strengths and weaknesses: Things within the control of your organization

opportunities and threats: things outside your control and things you have to find information about to
act on

strategic planning

outlines how the company will meet its objectives and goals

tactical planning

it's a process of developing detailed short-term statements about what is to be done who to do it and
how to do it

Operational planning

setting work standards and schedules necessary to implement the company's objectives.

contingency planning

preparing alternative courses of action that may be used if the primary plans don't achieve the
organization's objectives

crisis planning

involves reacting to sudden changes in the environment

problem solving

process of solving the everyday problems that occur

Required management skills

technical skills, human relationship skills, conceptual skills

leading

leaders are motivated by intrinsic values such as needs, desires, rewards, and recognition

leadership styles

autocratic: suitable for emergencies when absolute followership is needed

democratic: employee participation in decisions may not always increase effectiveness but it usually
increases job satisfaction

free reign: everybody in the organization is a manager and this is the often most successful leadership
style

knowledge management

Finding the right information keeping the information and making the information on to everyone in
the firm

Controlling

1. establish clear performance standards

2. monitor and record actual performance
3. compare results against plans and standards
4. communicate results and deviations to the employees involved
5. take corrective action when needed and providing positive feedback