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Pruett Mgmt. Ch. 1

Pruitt Chapters 1

TermDefinition
Management the process of working with people and resources to accomplish organizational goals effectively and efficiently.
globalization expanding to new territories
role of technological change not using tech the way we should (using phones to text and play games)
Importance of knowledge saving money on fuel for planes using auto pilot (save 10,000 gallons @ 4 per g)
Collaboration Ask customers what the problems are in the company
Innovation The introduction of new goods and services
Quality improvement The excellence of your product
Service Giving customers what they want or need, the way they want it
Speed Fast and timely execution, response, B delivery of results
Cost-Competitiveness Keeping costs low to achieve profits and offer prices attractive to customers
Planning Thinking ahead, creating a map
Leading Getting people to work
Organizing Getting them to act usefully in an intelligent way
Controlling Learning and changing
The 4 Major Competitive Challenges (list) 1.Globalization 2.Role of Technological change 3.Importance of knowledge 4.Collaboration
Things to compete in a business (list) 1.Innovation 2.Quality improvement 3.Servive 4.Speed 5.Cost-competitiveness
Management = basic functions (list) 1.Planning 2.Leading 3.Organizing 4.Controlling
Levels of Management (list) a. top/senior b.middle c.frontline/lower
top/senior strategize, plan, lead -responsible for the whole organization
middle turn goals/plans into specifics -report to the top/middle of hierarchy
Front line/lower implement/carry out plans -operational managers, supervisors, line managers
Basic Managerial Skills (list) 1.Technical 2.Conceptual/decision 3.Interpersonal/communication
Technical supplying, obtaining, sharing
Conceptual/decision Making decisions or managing the decision-making process
Interpersonal/Communication Dealing with people/relationships
Principles that will help you with your career? (list) 1.Emotional intelligence 2.Social capital 3.Building your own career/strengths/skills/experiences
Emotional intelligence Understanding yourself, managing yourself, dealing effectively with others
Social capital Being committed to others
Created by: starnema