Man 3250 Study Guide Ucf

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MAN 3025
Exam 1 Study Guide

CHAPTER 1: INTRODUCTION TO MANAGEMENT

Intellectual capital: the total sum of a workforce’s knowledge and abilities that can be used for an organization’s benefit

Portfolio worker: a person who can adapt to different jobs and careers due to possessing many differ- ent types of skills

Workforce Diversity: creating and maintain a workforce that is represented by people of different age groups, ethnicities, nationalities, and gender; critical to have
-Prejudice vs. Discrimination: having preconceived unreasonable attitudes towards others; becomes active discrimination when members of a particular group are given substandard or unfair treatment in the workplace

-Glass Ceiling Effect: an unseen barrier that stops minority groups and women from attaining high positions in organizations, despite adequate experience and qualifications
-Globalization: process by which different countries become interdependent in regards of resources, markets, and competition; achieved thorough technology

Learning Outcome: Why is it important to establish workforce diversity? It is a critical aspect of an organization’s success; creates a more open and friendly environment that has a variety of experience and training

Organizations: an arrangement of workers who collaborate to accomplish a collective goal; provide valued services or products to its clients/customers
-Open System: a system that responds to and has an effect on its environment (inputs and outputs)
-Productivity: measures performance; cost of various inputs compared to the value of the outputs
-Performance Efficiency (measure of input; described how well resources were used) vs. Performance Effectiveness (measure of output; form of goal or objective accomplishment)

Levels of Management: managers supervise employees and act as a driving force to direct and enhance the performance of other workers
-Administrators: managers of a non-profit or government organization
-Supervisors: lowest-level management position, on the front lines
-Middle Managers: monitor and lead large divisions that are made up of smaller business units
Plant managers general managers, divisional managers
-Top Managers : in charge of managing and leading the whole organization or a large part of it
President, Vice-President, Chief Executive Officer

Types of Managers
-Line Managers: oversee employees on the “front lines”; interact with employees on a daily basis
-Staff Managers: support the line workers with certain technical skills; director of human resources
-Functional Managers: have the expertise in a single area, such as production, accounting, human resources, sales, or marketing
-General Managers: has an area of responsibility that encompasses many of the above functional areas

Four Main Functions of Management
-Planning: psychological process of determining appropriate activities that achieve objectives and goals of the org.
-Organizing: after planning, the process of coordinating financial, physical, and human ‘ resources to accomplish the plan in place
-Leading: motivating others to accomplish goals by fostering enthusiasm and dedication
-Controlling: keeping track of performance and taking corrective action

Learning Outcome: Make sure you understand the management process and functions.

Managerial Roles – 10 basic roles a manager usually takes on while working
Interpersonal Roles: communication with others
-Leader: motivating others and giving them focus
-Figurehead: implementing new policies and acting them out
-Liaison: acting as a “go-between” in groups and making sure activities are coordinated
Informational Roles: ways a manager analyzes and passes on info
-Disseminator: passes info to others
-Spokesperson: being the official person to give out info
-Monitor: observing in order to find new info
Decisional Roles: the way a manager utilizes info when making a decision;...
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