Management• Achieving the goals of an organization using organizational resources through: - Planning, Organizing, Leading, Controlling
PlanningDetermining organizational goals and action plans for achieving those goals
OrganizingDetermining a structure for individual jobs and overall organizat...
FM 116 Chapter 14 Questions and
Correct Answers
Management✅• Achieving the goals of an organization using organizational resources
through:
- Planning, Organizing, Leading, Controlling
Planning✅Determining organizational goals and action plans for achieving those goals
Organizing✅Determining a structure for individual jobs and overall organization
Leading✅Directing and motivating people to achieve organizational goals
Controlling✅Monitoring performance and making adjustments as needed
Levels of Management✅top management, middle management, first-line managemnt
Top Management✅Managers who set the overall direction of the firm, articulating a
vision, establishing priorities, and allocating time, money, and resources
Middle Management✅Managers who supervise lower-level managers and report to
higher-level manager; Must have strong "human" skills; managing "up and down"
First-line (supervisory) Management✅Managers who directly supervise the people
who actually do the job; DMM in retail organizations
Management skills✅• Technical Skills
• Human Skills
• Conceptual Skills
Technical skills✅Expertise in a specific functional area or department
Human skills✅Ability to work effectively with and through other people in a range of
different relationships; esp. Important for middle managers (coaching, empathy, team
building); For every position: Communication skills
Conceptual skills✅Ability to grasp a big-picture view of the overall organization, the
relations among its parts, and its fit in the broader competitive environment; esp.
Important for top management
Maslow's Hierarchy of Needs: A Fundamental Understanding of Motivation✅•
Suggests that human needs fall into a hierarchy (a ranking)
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