MGT 300 Ball State University Terheide Exam 1 Ch. 1-4 | Questions And Answers Latest
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Organization - collections of people who work together and coordinate their actions to achieve a wide
variety of goals or desired future outcomes
4 pillars of management - Planning,
Organizing,
Leading,
Controlling
Organizational performance - A measure of how efficiently and effectively a manager uses resources to
satisfy customers and achieve organizational goals.
Efficiency - A measure of how well or how productively resources are used to achieve a goal
Effectiveness - A measure of the appropriateness of the goals an organization is pursuing and the degree
to which the organization achieves those goals.
Organizing - Structuring working relationships so organizational members interact and cooperate to
achieve organizational goals
Organizational Structure - a formal system of task and reporting relationships that coordinates and
motivates organizational members so they work together to achieve organizational goals
Leading - articulating a clear vision and energizing and enabling organizational members so they
understand the part they play in achieving organizational goals
Controlling - Evaluating how well an organization is achieving its goals and taking action to maintain or
improve performance
Three types of managerial roles: - Decisional
, Interpersonal
Informational
First-line managers - Responsible for the daily supervision of non-managerial employees
middle managers - Responsible for finding the best way to use resources to achieve organizational goals.
Responsible for human and other resources
Top managers - Establish organizational goals
Conceptual skills - the ability to analyze and diagnose a situation and to distinguish between cause and
effect
Human skills - The ability to understand, alter, lead, and control the behavior of other individuals and
groups.
Technical skills - Job-specific skills required to perform a particular type of work or occupation at a high
level.
Core competency - Specific set of departmental skills, abilities, knowledge and experience that allows
one organization to outperform its competitors. (Skills for a competitive advantage)
Restructuring - Downsizing an organization by eliminating the jobs of large numbers of top, middle, and
first-line managers and non-managerial employees
Outsourcing - Contracting with another company, usually in a low-cost country abroad, to perform a
work activity the company previously performed itself
Empowerment - Giving employees more authority and responsibility over how they perform their work
activities
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