Review slides Chapter 11 Essay

Submitted By hjmlibra1980
Words: 584
Pages: 3

“Flash Cards”
Chapter 1
Management in a Diverse

Self Check Flash Cards
• Each slide will present a term, concept, or question. • Formulate a mental response (answer).
• In 7 seconds a correct response will appear.
• Check your answer.
• Click the “right” arrow to proceed to the next slide.

What is Management?
Management is the ability to organize and allocate the resources of land, labor, and capital to achieve the company’s objectives and mission. It can also be defined as “getting things done through people.”


Describe the levels of management. Top (senior) management establishes the objectives of the business, and then allocates the resources necessary to achieve these objectives.
Middle management is responsible for implementing and achieving organizational goals and objectives set by top management.
Supervisory managers handle day-to-day operations and operative (production) employees. McGraw-Hill/Irwin

Name and describe the basic management functions.
Planning—deciding what objectives to pursue and how to accomplish them.
Organizing—grouping, delegating, and providing authority for activities that will enable the company to achieve objectives.
Staffing—determining resource needs and recruiting, selecting, training, and developing human resources.
Leading—directing and channeling employee behavior toward the accomplishment of the company’s objectives.
Controlling—measuring performance versus objectives, determining causal relationships, and taking corrective action when needed.


Define the basic skills required in management.
Conceptual skills—involve understanding the relationship of a business’s parts to one another and to its whole; examples are decision-making, planning, and organizing.
Human relations-skills—the ability to work well with people and to understand their needs, frustrations, ideas, etc.
Technical skills—knowing how to perform the mechanics of a particular job.

How are principles of management developed?
A principle is a basic truth or law. In management, most principles have been developed using deduction and observation. In the physical and life sciences, experimentation is very easy because controls can be set. Experimentation is not easy when trying to develop management principles because of the difficulty and cost of controlling people in the experimental situation.


Define entrepreneurship.
The practice of individuals conceiving an idea of what product or service to produce, starting an organization, and building the organization to the