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82 Cards in this Set
- Front
- Back
Planning |
determining what the business needs to do and the best way to achieve it |
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Types of planning |
Strategic, tactical, and operational plans |
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Organizing |
determining how to use existing resources to implement the plan and arranging jobs in a structure to create an efficient task system |
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Leading |
Guiding and motivating subordinates to meet objectives.
Managers - authority to give orders, ability to guide employees, and power to motivate subordinates |
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Controlling |
managers monitor the firms performance |
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Top management |
responsible for overall performance of the firm |
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Middle management |
responsible for implementing decisions of top managers |
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First-line management |
responsible for supervising employees |
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Types of managers |
marketing managers, financial, operations, hr, and information |
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The process of decision making |
Recognize and define the decision situation, identify the alternatives, evaluate the alternatives, select the best alternatives, implement the chosen alternative, follow up and evaluate the results |
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Strategic Management |
process of aligning the organization with its external environment |
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Strategic goals |
performance based objectives that a firm plans to achieve. |
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Long term, intermediate, short-term |
5+. 1-5. <1 |
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SMART Goals |
Specific, measurable, achievable, relevant, time-framed |
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Mission statement |
How organization will achieve its purpose, who they serve, what they offer, core values and ethical values |
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Formulating strategy |
Setting strategic goals, analyzing organization and its environment (SWOT), matching the org and to its env |
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Analyzing with SWOT |
Strengths Weaknesses Opportunities Threats |
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Corporate-Level Strategies |
Concentration, growth, integration, diversification, and investment reduction |
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Business-Level Strats |
Cost leadership, differentiation, and focus |
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Organizational Structure |
Specification of the jobs to be done and how they are related, each organization must develop a structure that meets its specific needs |
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What determines an OS |
Purpose, mission, and strategy Size, tech, and environmental uncertainty
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Chain of Command |
Decision making power |
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Specialization |
process of identifying the specific jobs that need to be done and designating the people who will perform them |
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Specialization and growth |
smaller companies do not have enough employees to specialize, larger ones tend to do it more but it can cause problems |
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Departmentalization |
grouping jobs into logical units -increases efficiency -better control and cord -easy to monitor performance -profit centers are accountable |
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Bases of departmentalization |
Functional, customer, product, geographic, process |
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Functional Structure |
units are formed based on the job functions |
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Advantages to FS |
efficient (no duups) and expertise in each department |
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Disadvantages |
Narrow view of organization, hard to see overall vision and communication could be poor |
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Divisional Product structure |
organize by products being sold like Canadian tire |
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Customers |
organize by needs of main customers like consumer sales, gov sales, large biz, small biz |
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Geography |
Based on region |
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Divisional structures |
Allows for expansion and expertise in each division but duup can exist and comm can be poor |
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Process structure |
organize by product or customer flow allows for overspecilization. sawing refining shipping etc |
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Centralization |
top managers reserve the rights for decisions |
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Decnetralization |
lower level and middle level managers have some discretion in making decisions on their own |
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Span of control |
the number of subordinates a manager is responsible for supervising |
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Line authority |
direct chain of command |
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Staff authority |
Staff that advise and support the line managers |
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Committee and team authority |
authority granted to committees/work teams plan their work and complete task independently |
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Project organization |
used by organizations with new product oppurtunities or for special projects. ad agencies, consultant groups |
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Boundaryless organization |
Walmarts supply chain |
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Team org |
project based little to now hierachy |
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Learning org |
continuous improvement and innovation like 3M |
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Steps of HR Management |
1. Determine strat 2. Design org structure to support strat 3. Fill positions with people to meet org goals |
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HR Planning - Job Analysis |
detailed study of the duties of a specific job and the required qualifications |
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HR Planning - Job Description |
duties of the job, working conditions, and tools and materials needed |
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HR Planning - Job Specification |
skills, abilities, and credentials needed to do the job |
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Recruitment |
Want to recruit the right people who are qualified |
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Selection |
screening qualified applicants predicting job success follow BC Human Rights and Employment Standards act avoid illegal interview questions |
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Staffing the Organization |
Tests, validation, application forms, interviews, physical exams etc |
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Performance Appraisal |
Formal evaluation of employees. management defines performance standards |
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Methods of Appraisal include... |
Written reviews Graphic rating scales Critical incident Behaviouraly anchored rating scales |
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Compensations |
Wages/ salaries |
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Incentives |
Bonuses, profit-sharing, management |
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Benefits |
paid time off, retirement, health care, welness |
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Labour Unions |
group of individuals working together to achieve job-related goals |
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Collective Bargaining |
the process by which union leaders and management negotiate terms and conditions of employment |
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Union / Management Relations |
changed since days of manufacturing, greater need to cooperate |
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Labour codes involve |
fair employment practices, safety of employees, standard hours, wages, vacations and holidays, lastly industrial-relations regulations |
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Certifying a Union |
Determining and seeking government approval Establish a bargaining unit Certification vote takes place |
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Collective Bargaining Process |
CB begins Bargaining zone is established A ratification vote is taken to accept or reject tentative agreement |
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Management tactics |
lockout of workers, hire strike-breakers, close down business, contract job to non-union workers |
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Mediation |
-neutral third-party hears arguements and makes suggestion |
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Arbitration |
appoint third party to devise and impose solution. has legal authority |
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Operations Management |
a set of methods and technologies used in the production of a good or service |
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Manufacturing |
production activities that yield tangible products |
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Service operations |
production activities that yield tangible and intangible service products |
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Production managers |
Bring raw materials, equipment, and labour together -control costs, quality levels, and inventory -based on demand |
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Business Strategy |
Quality, low cost, flexibility, and dependability |
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Operation planning |
capacity, location, layout, quality, and methods of planning |
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Gantt Charts |
Diagram of steps in the progress and time required for each. Good for checking progress |
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PERT Charts |
specifies the sequence and critical path of steps in a project. good cause it can identify activities that will cause a delay |
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Tools for process control |
worker trainign, just in time production systems, material requirement planning, and quality control |
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Company Productivity |
lower costs allow for lower prices, more profit or higher wages |
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TQM |
Includes all activities and parts of the business Customer focus is key Requires highest level of commitment Highlights continious improvement All employees are responsible for maintaining quality standards |
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ISO 9000 |
program certifying that a company meets the rigorous standards of the international organization for standardization.
based on: product testing, employee training, record keeping, and correcting defects |
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Supply chain management |
companies work together allowing better value for customers, smooth flow of accurate information, materials move faster |
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Intangibility |
cannot be held, touched or seen before the purchase decision |
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Inconsistency |
people delivering service can be inconsistant (Dominos) |
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Inseparability |
employees have to be onsite to delver service automation where possible |
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Perishable inventory |
happy hour, groupon etc |