Professional Documents
Culture Documents
Management is described as getting work done through others, as well as efficiencygetting work done
with minimum effort, waste or expense, and also effectivenessaccomplishing tasks that help fulfill
organizational objectives.
2 Explain the four functions of management.
The four functions of management are 1) planning: determining organizational goals and a means for
achieving them, 2) organizing: deciding where decisions will be made, who will do what jobs and tasks,
and who will work for whom in the company, 3) leading: inspiring and motivating workers to work hard to
achieve organizational goals, controlling: monitoring progress toward goal achievement and taking
corrective action when progress isnt being made.
The different type of managers are A) Top Managers: such as CEO, COO, CFO, CIO. They are
responsible for overall direction of the organization and for creating a context for change. They develop
employees commitment to and ownership of company performance, create a positive organizational
culture through language and action, and are responsible for monitoring the business environment. B)
Middle Managers: such as plant manager, regional manager, divisional manager. They set objectives
consistent with top managements goals, implement subunit strategies for achieving objectives, plan and
allocate resources to meet objectives, coordinate and link groups, departments, and divisions, and
monitor and manage subunits and individual managers. C) First-Line Managers, such as office manager,
shift supervisor, department manager. They train and supervise the performance of nonmanagerial
employees, teach entry-level employees how to do their jobs, encourage, monitor, and reward employees
performance, and make detailed schedules and operating plans.
confidence indices show how confident managers are about future business growth.
Technological Component: Technology: an umbrella term for the knowledge, tools, and techniques used
to transform inputs into outputs. Changes in technology can help companies provide better products or
produce their products more efficiently. Sociocultural Component: demographic characteristics, general
behavior, attitudes, and beliefs of people in a particular society. Political/Legal Component: the legislation,
regulations, and court decisions that govern and regulate business behavior. Many managers are
unaware of the potential legal risks associated with traditional managerial decisions like recruiting, hiring,
and firing employees.
Identifying and addressing customer trends and problems after they occur
Identifying and addressing customer needs, trends, and issues before they occur
Competitor Component
Competitors
a process of monitoring the competition that involves identifying competition, anticipating their
moves, and determining their strengths and weaknesses
Supplier Component
Suppliers
companies that provide material, human, financial, and informational resources to other
companies
Supplier dependence
vs.
Buyer dependence
Behaviors
Opportunistic behavior
Advocacy Groups
Concerned citizens who band together to try to influence the business practices of specific
industries, businesses, and professions
Public communication
Media advocacy
Product boycott
8 Describe the process that companies use to make sense of their changing environments.
Environmental Scanning
Searching the environment for important events or issues that might affect an organization.
Threat or opportunity?
Threat
managers typically take steps to protect the company from further harm
Opportunity
managers consider strategic alternatives for taking advantage of those events to improve
performance
Cognitive Maps
Ethical Intensity
Magnitude of consequences
Social consensus
Probability of effect
Temporal immediacy
Proximity of effect
Concentration of effect
B-fully developed answers addressing the issues in a paragraph format, no grammar and/or spelling problems,
explanations and examples;
C- complete sentences addressing the question;
D-one word bullet answers;