Exam (elaborations)
MGMT 3000 GUHDE EXAM 1
- Course
- Institution
MGMT 3000 GUHDE EXAM 1
[Show more]
Content preview
MGMT 3000 GUHDE EXAM 1Today's effective managers... (4) - answer- 1. Do more with less
2. Engage employees hearts, minds, and energy
3. See change as natural
4. Inspire vision and cultural values that allow people to create a collaborative and productive workplace
Management definition - answer- the attainment of organizational goals in an effective and efficient manner through planning, organizing, leading, and controlling organizational resources
Who is considered the father of modern business management? - answer- peter drucker
Peter drucker taught that successful leaders should do what? - answer- put people and ethics first rather than focusing entirely on profits and rigid rules and work structures
According to peter drucker management is about what? What is management's task? - answer- human beings; its task is to make people capable of joint performance/make their strengths effective and their weaknesses irrelevant
Rapid environmental shifts -> impact management (5) - answer- 1. Technology (social media, mobile apps, ai, etc)
2. Move to knowledge/information-based economy
3. Global market forces
4. Growing threat of cybercrime
5. Shifting expectations by employees and customers
Traditional approach to new competencies: overseeing work - answer- from controller to
enabler
Traditional approach to new competencies: accomplishing tasks - answer- from supervising individuals to leading teams
Traditional approach to new competencies: managing relationships - answer- from conflict and competition to collaboration, including use of social media
Traditional approach to new competencies: leading - answer- from autocratic to empowering, sometimes bossless
Traditional approach to new competencies: designing - answer- from maintaining stability to mobilizing for change
What do managers do? (5) - answer- 1. Set objectives
2. Organize 3. Motivate and communicate
4. Measure
5. Develop people
4 functions of a manager - answer- planning, organizing, leading, controlling
An organization is a social entity that's... - answer- goal-directed and deliberately structured
Organizational effectiveness - answer- degree to which the org achieves a stated goal
Organizational efficiency - answer- refers to the amount of resources used to achieve an org goal
High performance - answer- attainment of org goals by using resources in an efficient and effective manner
If organizational performance indicates how well a manager is doing their job, is it more important for the manager to focus on efficiency or effectiveness? - answer- both are equally important
3 management skills - answer- technical, human, conceptual
Technical skills are more relevant in ______ level management - answer- lower
Conceptual skills are not critical at ______ level management but are extremely critical at ______ level management - answer- lower; top
Does every manager at every level need to have all 3 skills? - answer- degree of the skills may vary, but all managers must posses the skills
Does the application of management skills stay the same or change as managers move
up the hierarchy? - answer- change
When you become a manager, you are no longer a ______ but rather the ______ - answer- individual performer; manager of others
Many new managers expect... - answer- more freedom to make changes
However, successful new managers... - answer- build teams and networks
Many new managers make the transformation in a... - answer- trial by fire
3 vertical management types - answer- 1. First-level or supervisory managers
2. Middle managers
3. Top managers First-level or supervisory managers - answer- responsible for production of goods and services
Middle managers - answer- responsible for business units and major departments
Top managers - answer- responsible for the entire organization
5 horizontal management types - answer- 1. General managers
2. Functional managers
3. Project managers
4. Line managers
5. Staff managers
General managers - answer- responsible for several departments that perform different functions
Functional managers - answer- responsible for departments that perform a single task
Project managers - answer- responsible for temporary work projects involving people from different functions and levels
Line managers - answer- responsible for departments that perform a core function of the organization
Staff managers - answer- responsible for departments that support the organization's line departments with specialized advisory or support functions
Manager activities are characterized by... (3) - answer- variety, fragmentation, brevity
Managers spend less than ____ minutes on most activities - answer- 9
Manager activities is a life on speed dial (3) - answer- 1. Work at an unrelenting pace
2. Interrupted constantly
3. Ad hoc meetings
What is one of the challenges new managers face? - answer- time management
Time management is using techniques that enable you to do what? (4) - answer- 1. Get more done in less time with better results
2. Be more relaxed
3. Have more time to enjoy your work and life
4. Become more effective and efficient
Trivia friday: ______ explores a sale that could value the chain at more than ______ - answer- subway; $10 billion
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller SUMMER2022. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
62555 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now