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CLEP EXAM
Principles of Management
| Term | Definition |
|---|---|
| Legitimate Power | 1. Authority granted by organizational position 2. From a recognized role within the organizational hierarchy |
| Organizational Power | Coercive, rewards, referent, expert, information, connections |
| Personality Types | Knowing your personality strengths and tendences helps you communicate better, motivate others and build stronger teams |
| Situational Leadership | evaluate each situation and apply the leadership approach most likely to be effective |
| Transactional Leadership | focus on clear expectations, performance tracking, and reward systems to maintain performance create positive change by fostering commitment to a shared mission |
| Triple Bottom Line | refers to the measurement of businesses performance along social, environmental, and economic dimensions |
| Operational Planning | generally, assumes the existence of organization wide or subunit goals and objectives and specifics ways to achieve them |
| Tactical Planning | is intermediate range (1-3 years) planning that is designed to develop relatively concrete and specific means to implement the strategic plan, middle level managers often engage in tactical planning |
| Strategic Planning | involves analyzing competitive opportunities and then determining how to position the organization to compete effectively in their environment |
| Environmental Scanning | Which simply means that planners must be aware of the critical contingencies facing their organization in terms of economic conditions, their competitors, and their customers |
| Strategy | is the central, integrated, externally oriented concept of how an organization will achieve it objectives |
| Strategic Management | is the body of knowledge that answers questions about the development and implementation of good stratgies |
| Leadership | the social and informal sources of influence that you use to inspire action taken by others. It means mobilizing others to want to struggle toward a common goal |
| Entrepreneurship | as the recognition of opportunities (needs, wants, problem and challenges) and the use or creation of resource to implement innovative ideas for new, thoughtfully planned ventures. |
| Principles of Management | plan, organize and control the operation of the basic elements of people, materials, machines, methods, money and markets, providing direction and coordination and giving leadership to human efforts so as to achieve the sought objectives of the enterprise |
| Management | The art of getting things done through the efforts of other people. |
| Contemporary | Empowered lower-level managers and employees to are responsible for the organization's competitiveness and their own development |
| Traditional Managers | Top managers ensure the organization's competitiveness and lower-level managers and employee's job security |
| General Manager | is someone who is responsible for managing a clearly identifiable revenue producing unit, such as a store, business unit, or product line |
| Project Manager | Has the responsibility for the planning, execution, and closing of any project. |
| Staff Manager | serve a supporting role |
| Line Manager | leads a function that contributes directly to the products or services the organization creates. |
| Empowerment | is the process of enabling or authoring an individual to think, behave, take action, and control work and decision making in autonomous ways |
| P-O-L-C | Planning Organizing Leading Controlling |
| Delegation | Involves passing decision making power to subordinates. |
| Formal Job Description: | Define roles clearly and reduce ambiguity in expectations |
| Narrow Spans | Allow close supervision, which is deal for complex tasks |
| Job Rotation | Combats boredom by varying tasks and responsibilities Ex: most effective for reducing job monotony |
| Cross-Functional | teams bring diverse perspectives together to solve problems creatively |
| Self-Managed | Teams take responsibility for planning, scheduling, and monitoring their work. |
| Culture Influences | organizational culture how employees act and how work is perceived. |
| Informal Organization | 1. refers to unofficial communication and relationships that impact behavior 2. operate outside formal structures and affect morale and communication |
| Flat Structures | Minimizing layers of hierarchy |
| Social Movement | refers to a type of group action that is focused on specific political or social issues |
| Social Networking | refers to systems that allow members of a specific site to learn about other members’ skills, talents, knowledge, or preferences. |
| Learning Organization | an organization skilled at creating, acquiring, and transferring knowledge, and at modifying its behavior to reflect new knowledge and insights. |
| Sarbanes-Oxley Act | define a code of ethics as a codification of standards that is reasonably necessary to deter wrongdoing and to promote honest and ethical conduct |
| Future Orientation | defined as one’s expectations and the degree to which one is thoughtful about the future. It is a multifaceted concept that includes planning, realism, and a sense of control. |
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