Chapter 7 Intro to Business

Individuals or members of a group generate multiple ideas and alternatives for solving problems

Who Am I? Implement the policies and plans and supervise and coordinate activities

What are the four benefits of Planning?

What are the four steps in the control process?

What type of leader am I? Delegate authority and involve employees in decisions

Employees share management responsibilities that include decision making

the pursuit of organizational goals effectively and efficiently 

Focuses on creating a smooth-running organization, motivate employees to meet performance goals

Who Am I? Makes short-term operating decisions, directs daily tasks of non-managerial personnel

Determining how to accomplish specific tasks w/ existing resources w/in the next 1week-1yr.

To use people, money, raw materials, and other resources wisely and cost-effectively

Arranging tasks, people, and other resources to accomplish the work

Statement of the organization's fundamental purposes

Monitoring performance, comparing it with goals, and taking corrective action as needed

To realize the firm's goals by making the right decisions and executing them successfully

Who Am I? Highest level of management, makes long term decisions about the overall direction

Determining the organization's long-term goals for the next 1-5 years w/ anticipated resources

Focuses on inspiring long-term vision, creativity, and exceptional performance in employees

Describes the company's long term goal of what the organization wants to become

Determining what contributions work units can make w/ existing resources in next 6months-2years

Box and lines illustration of the formal line of authority & official positions

What type of leader am I? Make decisions without consulting others. 

What is the definition of Planning?

Motivating, directing, and influencing people to work hard to achieve the organization's goals