Management #2

Process of delegating and coordinating tasks and resources to achieve objectives

evaluation of how well individuals meet their responsibilities

Which one doesn't depend on Price

The authority that a manager has by virtue of his or her position in the firm (hire/fire)

Leaders in multicultural business setting, ability to work with different culture

x axis of BCG matrix

Bureaucratic, tight controls, having specialized jobs, with decisions made by top managers

process of making jobs less specialized

process of eliminating/ combining tasks, changing the work sequence to improve performance

Stars, Question mark, Cash cow, Dogs

Minimal focus on procedures and rules, broadly defined jobs, and decisions made at lower levels

Leader makes decision and seeks to persuade others that the decision is correct

Power that comes from subordinates’ and coworkers’ respect, admiration, and loyalty(role model)

process of setting short-range objectives, determining in advance how they will be accomplished

A plan for pursuing a mission and achieving objectives

sales increase and product should break-even

Power based on special knowledge, skills, and expertise that the leader possesses (for guiding)

Maslow : friendship, family

involves performing different jobs in some sequence, each one for a set period (cross-training)

Encourages decision making from different perspectives, can delay decision making

the obligation to achieve objectives by performing required activities.

right to make decisions, issue orders, and use resources

notify your supervisor of possible alternative actions.

help anyone in the organization who needs it

SWOT: Helpful, Internal

Leader acts as a ‘father figure’, need to support staff

advertising media over which a firm has no direct control e.g. television, radio and newspapers

freely select a course of action and carry it out

involves adding tasks to broaden variety

the process of identifying tasks that each employee is responsible for completing.

based on the specified relationships among employees

SWOT: Harmful, External

BCG: (low growth, low market share)Avoid high expenses, Deliver cash, otherwise liquidate

(2 answer)SWOT: how weaknesses happen

businesses that dominate the market can often dictate the price charged for a product

work for only one manager and help the manager in any way needed

freely select a course of action and carry it out, and must inform to boss

What S.M.A.R.T. stands for

Leader makes decisions without reference to anyone else, de-motivation of staff

arises from the patterns of relationships and communication

Maslow : self-esteem, confidence, achievement, respect

Maslow : morality, creativity, lack of prejudice

list alternative decisions/actions, analyze them, and suggest one action (Committees)

Which one doesn't depend on promotional mix

BCG: (low growth, high market share)Profits and cash generation is high, low investment

Maslow : breathing, food, water, sex, sleep

process of comparing organization’s products/services, processes with those of other companies

Uninvolved - “leave them alone” and “let it be”, highly motivational

(2 answer)SWOT: How opportunities occur

Degree of making exceptions to the procedures and rules to create customer satisfaction

process of thinking about and organizing the activities required to achieve a desired goal

high costs but no sales

management style (-) manager closely observes or controls the work of his or her employees

The ability of a manager to punish others

process of building motivators into the job itself to make it more interesting and challenging

y axis of BCG matrix

a hierarchy that narrows as it flows down the organization

company stresses its competitive advantage over its competitors

high expenditure on promotion and product development, low sales

Which can't be one of the Extension strategy

promotional media which the firm can control e.g. direct mail, sales promotions and sponsorship

Maslow : Security of body, employment, resources, morality, family, health

Inspire people, mostly by his example

the responsibility to advise and assist other personnel

process of developing a mission (long-range) determining in advance how it will be accomplished

Threat of new entrants, substitute, Bargaining power of suppliers, buyers, rivalry

sales decline, extension strategies canbe adopted or the product withdrawn

businesses have to charge the market price - many small firms competing against each other

What BCG stands for

the process of assigning responsibility and authority for accomplishing objectives

BCG: (high growth, high market share) Use large amount of cash, generate a large amount of cash

sales stabilise, less expenditure on promotion needed, revenue & profit should be high

Which of the following is a weakness:

how an organization offers unique customer value.

the responsibility to make decisions and issue orders down the chain of command

process of giving employees at all levels in the organization the authority to make decisions

The ability to give or withhold tangible and intangible rewards

process of discussion before decisions are taken

use reward and coercive powers to encourage high performance, and punish failure