Leadership and Management Final Exam
Review
management - ANS -The process of deciding how best to use a business's resources
to produce goods or provide services
Upper/Senior Level Management - ANS -(CEO, President, CFO)
-Make long-term, strategic plans
-Not involved with day-to day activities
-Need conceptual skills
Middle Level Management - ANS -(Department Heads, sales managers)
-Interprets long-term goals and sets actions
Lower Level Management - ANS -(Foremen, Supervisor)
-Responsible for day-day activities
-Direct oversight of people making the product or providing the service
-Need technical skills
Interpersonal skills - ANS -Needed by all levels of management
Entrepreneurship - ANS -People who launch and run their own business
Frederick Taylor - ANS -Father of Scientific Management: Stated that there is one
BEST way to make something and we should figure it out and train every employee to
do it that way.
*Match employees to jobs according to their skills
Hawthorne Studies - ANS -Study: Increased/Decreased lighting to measure it's effect
on the workers' efficiency.
Conclusion: Any sort of change in working environment would result in increased
performance.
Maslow's Hierarchy of Needs - ANS -
Theory X - ANS -workers are lazy and avoid work, managers must have strict rules
Theory Y - ANS -Workers find satisfactions in their work, managers give freedom and
allow for creativity
, Theory Z - ANS -By Ouchi, combination of American and Japanese styles of
management:
American: individual responsibility
Japanese: collective decision making, concern for employees
Deming's 14 Points - ANS -Focused on employees and customers
-Created a 14 point plan to improve quality and improve production
Centralization - ANS -power at top;decisions made by few
Decentralization - ANS -Many involved in process; various individuals makes decisions
Planning - ANS -the process that businesses use to decided the company's goals for
the future and ways to achieve those goals
formal planning - ANS -involves a written plan, with goals, and a time frame
Short term plans - ANS -<1 year
Long term plans - ANS -> 5 years
Intermediate plans - ANS -3-5 years
operational planning - ANS -functional planning, dealing with the specific functions of a
complany
Grand Strategies - ANS --Growth
-Retrenchment
-Stability
-Combination
Growth - ANS -expand sales, products or employees:
-Can be vertical integration
-concentration
-diversification
Retrenchment - ANS -defensive strategy to reverse negative trend:
-Can be turn around
-Divestiture
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