Read the summary and the most important questions on Management of organizations

• 1 chapter 5

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• The nature of management exists of 6 different aspects. What are they?

  1. Multi-Disciplinary
     
  2. Dynamic Nature of Principle
  3. Universality of Management
  4. Relative not absolute principle 
  5. Management of Science and Art
  6. Management as profession 

• What are some of the kinds of managerial responsibilities associated with each level of management?

  1. Planning
     
  2. Organizing
  3. Leading
  4. Controlling

• As a manager you need to have basic management skills in order to achieve the organization's goals. There are six, what are they?

  1. Human relation skills
     
  1. the ability to communicate and cooperate with others.
  2. Time management skills 
  1. the process of organizing and planning how to divide you time between specific activities. 
  3. Technical skills 
  1. the skills necessary to get the job done
  4. Conceptual skills
  1. the ability yo work with abstract concept and ideas
  5. Decision making skills
  1. Circle of Demming
  6. Global management skills
  1. combining knowledge. 

• What are the different levels of Management?

  • Top managers; responsible for the firm's overall performance and effectiveness
    
  • Middle managers; responsible for implementing the strategies, policies, decisions, and goals set by top managers
  • First-Line managers: duties of managers at this level depend on the job, spend most of their time supervising the employees who report to them. 

• What are the different areas of management?

  • Human recourse: hire and train employees, evaluate performance, and determine compensation. 
    
  • Operations: responsible for the production system. 
  • Marketing: responsible for the development etc of goods and services. 
  • Information: design and implement systems for information. 
  • Financial: responsible for accounting functions and financial resources. 
  • Other: specialized, such as public relations manager. 

• There are three interpersonal roles inherent in the manager's job. What are they?

  • Interpersonal roles; figurehead, serve as a leader. 
  • Informational roles; monitor who actively seeks information that might be of value. 
  • Decisional  

• Nowadays managers are facing two major challenges. What are they and why?

  • Global management skills
    
  • businesses now demand managers who can understand cultural differences and the motives and practices of foreign competitors. 
  • Management and Technology skills 
  • new forms of technology increase the manager's need to process, organize, and interpret a lot of information

• How can you set up a business goal?

  1. Purpose of goal setting
     
  1. an organization functions systematically because it sets goals and plans accordingly. 
  2. Kinds of goals
  1. every firm has a purpose and a mission. 

• What are different types of strategy to use for achieving business goals?

  • Corporate strategy 
    
  • determine the firm's overall attitude toward growth an the way it will manage its business or product lines. 
  • Business (or competitive strategy)
  • improving the company's competitive position 
  • Functional strategy 
  • decide how best to achieve corporate goals 

• What is the difference between contingency planning and crisis management?

  • Contingency planning is planning for a change; it identifies ways in which a company will respond to change 
    
  • Crisis management involves an organization's methods for dealing with emergencies.