MGMT 309 Final TAMU (Wesner)
Functions of Management ️ - Planning and Decision Making: Setting goals and deciding how to achieve them. Decision making
involves selecting a course of action from alternatives. This helps managers allocate time and resources
efficiently. - Organizing: Coordin...
MGMT 309 Final TAMU (Wesner)
Functions of Management ✔️
- Planning and Decision Making: Setting goals and deciding how to achieve them. Decision making
involves selecting a course of action from alternatives. This helps managers allocate time and resources
efficiently.
- Organizing: Coordinating people and resources to implement plans, determining how activities and
resources are grouped.
- Leading: Processes used to motivate and direct members of the organization toward achieving
organizational interests.
- Controlling: Monitoring organizational progress toward goals, ensuring actions are aligned to meet
objectives efficiently and effectively.
What is Operations Management? ✔️
- Operations management focuses on making the organization’s production of goods and services more
efficient. Operations managers handle production control, inventory control, quality control, plant
layout, and site selection. Techniques include queuing theory, break-even analysis, and simulation.
What is Administrative Management? ✔️
- Administrative management emphasizes managing the total organization. Administrative managers,
such as hospital administrators, are generalists familiar with all functional areas of management.
What is Theory X? ✔️
- Theory X presents a pessimistic view of workers, assuming:
- People dislike work and avoid it.
- Managers must control and coerce employees to reach organizational goals.
- Employees prefer to be directed and seek security with little ambition.
What is Quantitative Management? ✔️
- This perspective focuses on decision-making, economic effectiveness, mathematical models, and the
use of computers. It employs quantitative techniques like statistics and computer simulations for
management.
, What is a Gantt Chart? ✔️
- A Gantt chart schedules work by visually representing expected and completed production timelines
related to subprojects.
What is a Board of Directors? ✔️
- A board of directors is a governing body elected by shareholders to oversee the management of the
company and ensure operations serve stockholders' interests.
Various Organizational Environments ✔️
- External Environment: Everything outside an organization that might affect it, consisting of:
- General Environment: Dimensions include economic, technological, sociocultural, political-legal, and
international factors.
- Task Environment: Specific external groups influencing the organization, such as customers,
competitors, suppliers, strategic partners, and regulators.
- Internal Environment: Conditions within the organization, including owners, board of directors,
employees, physical environment, and culture.
What are Ethics? ✔️
- Ethics are personal beliefs about right and wrong. Managerial ethics guide behavior related to
treatment of the organization, employees, and other stakeholders. A code of ethics is a written
statement of values guiding a firm’s actions.
What is Informational Justice? ✔️
- Informational justice refers to the perceived fairness of information used in decision-making. It
includes the perceived fairness of communication provided to employees by authorities.
What is Social Responsibility? ✔️
- Social responsibility encompasses an organization’s obligations to protect and enhance its societal
context. It involves responsibilities toward stakeholders, the natural environment, and general social
welfare.
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 EFT, 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 this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller CertifiedGrades. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R188,09. You're not tied to anything after your purchase.
