MGMT 309 Exam 1 TAMU Wesner Verified A+
Organization - Definition: A group of people working together in a structured and coordinated way to achieve a
common goal.
Managerial Sub-Parts - Types of Resources Managed: - Human resources - Financial resources - Physical resources - Information res...
- Definition: A group of people working together in a structured and coordinated way to achieve a
common goal.
Managerial Sub-Parts
- Types of Resources Managed:
- Human resources
- Financial resources
- Physical resources
- Information resources
Starting a Company
- Example: Brad and Cara have a new software company. (Specific answer not provided, but presumably
involves steps such as market research, business planning, financing, etc.)
Management
- Definition: The process involving planning, organizing, leading, and controlling resources to achieve
organizational goals efficiently and effectively.
Purpose of Management
- To ensure the organization's goals are met in a manner that is both efficient and effective.
Traditional Management Perspective
- Types:
- Classical
- Behavioral
- Quantitative
, Managerial Functions
1. Planning: Setting goals and determining the best way to achieve them (must be achievable and
measurable).
2. Organizing: Grouping activities and resources effectively (deciding on the necessary personnel and
tasks).
3. Leading: Motivating and guiding members to work towards the organization's best interests.
4. Controlling: Monitoring activities and making corrections to facilitate goal attainment.
Organizational Planning
- The process of managing projects, defining roles, responsibilities, and documenting staffing
management plans.
Decision Making
- A component of planning that involves selecting a course of action from alternatives.
- Example: Alan Mulally’s leadership of Ford Motor Company in 2006.
Managerial Roles
1. Interpersonal Roles:
- Figurehead: Represents the organization (e.g., CEO).
- Leader: Motivates and trains team members.
- Liaison: Interfaces with others across the organization, often seen in middle management.
2. Informational Roles:
- Monitor: Gathers information relevant to the organization's function.
- Disseminator: Shares important information to appropriate parties.
- Spokesperson: Represents the organization publicly by processing and communicating information.
3. Decisional Roles:
- Entrepreneur: Innovates and initiates change.
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