A group of people who work together to achieve some specific purpose

1. The pursuit of organizational goals efficiently and effectively 2. Integrating the work of people through Planning, organizing, leading, and controlling the organizations resources

means to use resources - people, money, raw materials, and the like - wisely and cost effectively

means to achieve results, to make the right decisions and to successfully carry them out so that they achieve the organizations goals

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

You set goals and decide how to achieve them

You arrange tasks, people, and other resources to accomplish the work

You motivate, direct, and otherwise influence people to work hard to achieve the organizations goals

You monitor performance, compare it with goals, and take corrective action as needed

Competitive Advantage

The ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them

Top Managers, Middle Managers, First-line managers, non-managerial personnel

Make long-term decisions about the overall direction of the organization and establish the objectives, policies, and strategies for it

Implement the policies and plans of the top managers above them and supervise and coordinate the activities of the first-line managers below them. Consider a high-touch job dealing with people rather than computer screens

Make short-term operating decisions, directing the daily tasks of non-managerial personnel

Responsible for facilitating team activities toward achieving key results

Responsible for just one organizational activity (director of finance, vp of production)

Responsible for several organizational activities (evp, executive director for a non profit)

Types of Organizations

1. For-profit organizations 2. Nonprofit organizations 3. Mutual-benefit organizations

Process of taking risks to try to create a new enterprise

Someone who works inside an existing organization

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Management

Chapter 1

Question	Answer
Organization	A group of people who work together to achieve some specific purpose
Management	1. The pursuit of organizational goals efficiently and effectively 2. Integrating the work of people through Planning, organizing, leading, and controlling the organizations resources
To be Efficient	means to use resources - people, money, raw materials, and the like - wisely and cost effectively
To be Effective	means to achieve results, to make the right decisions and to successfully carry them out so that they achieve the organizations goals
Management Processs	1. Planning 2. Organizing 3. Controlling 4. Leading
Planning	You set goals and decide how to achieve them
Organizing	You arrange tasks, people, and other resources to accomplish the work
Leading	You motivate, direct, and otherwise influence people to work hard to achieve the organizations goals
Controlling	You monitor performance, compare it with goals, and take corrective action as needed
Competitive Advantage	The ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them
Levels of Managers	Top Managers, Middle Managers, First-line managers, non-managerial personnel
Top managers	Make long-term decisions about the overall direction of the organization and establish the objectives, policies, and strategies for it
Middle Managers	Implement the policies and plans of the top managers above them and supervise and coordinate the activities of the first-line managers below them. Consider a high-touch job dealing with people rather than computer screens
First-line Managers	Make short-term operating decisions, directing the daily tasks of non-managerial personnel
Team Leader	Responsible for facilitating team activities toward achieving key results
Functional Manager	Responsible for just one organizational activity (director of finance, vp of production)
General Manager	Responsible for several organizational activities (evp, executive director for a non profit)
Types of Organizations	1. For-profit organizations 2. Nonprofit organizations 3. Mutual-benefit organizations
Entrepreneurship	Process of taking risks to try to create a new enterprise
Intrapreneur	Someone who works inside an existing organization

Created by: wtterry41

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