MGT 300 Exam 1 Study Guide (Williams UA)
1. The Art of Management: the pursuit of organizational goals efficiently and
effectively, integrating the work of people; planning, organizing, leading, and
controlling the organization's resources
2. Efficiency: use resources (people, money, raw materials, and the like) wisely
and cost effectively
3. Effectiveness: to achieve results, to make the right decisions and to
successfully carry them out so that they achieve the organization's goals
4. Management Process includes...:
1. Planning
2. Organizing
3. Leading
4. Controlling
5. Planning (Management Process): you set goals and decide how to achieve
them
6. Organizing (Management Process): you arrange tasks, people, and other
resources to accomplish the work
7. Leading (Management Process): you motivate, direct, and otherwise
influence people to work hard and achieve the organization's goals
8. Controlling (Management Process): you monitor performance, compare it
with goals, and take corrective action as needed
9. Four Levels of Management:
Level 1: Top managers
Level 2: Middle managers
Level 3: First-line managers
Level 4: Team Leader
, 10. Level 1 Top Managers: Those who make long term decisions about the
overall direction of the organization and establish the objectives, policies, and
strategies for it
11. Level 2 Middle Managers: Those who implement the policies and plans of
the top managers above them and supervise and coordinate the activities of the
first-line managers below them
12. Level 3 First-Line Managers: Those who make short-term operation
decisions, direction the daily tasks of non-managerial personnel
13. Level 4 Team Leaders: Those who are responsible for facilitating team
activities toward achieving key results
14. Functional Managers: Are responsible for just one organizational activity
ex.) director of finance, vice president of production
15. General Managers: Are responsible for several organizational activities ex.)
executive vice president, an executive director for a nonprofit
16. Seven Challenges for Being an Exceptional Manager:
1. Competitive advantage
2. Information technology
3. Diversity
4. Globalization
5. Ethical standards
6. Sustainability
7. Happiness and meaningfulness
17. Scientific Management (Definition): emphasized the scientific study of
work methods to improve the productivity of individual workers
18. Scientific Management (Principles):
1. Scientifically study each part of the task
2. Carefully select workers with the right abilities
3. Give workers the training and incentives to do the task properly
4. Use scientific principles to plan the work methods
1. The Art of Management: the pursuit of organizational goals efficiently and
effectively, integrating the work of people; planning, organizing, leading, and
controlling the organization's resources
2. Efficiency: use resources (people, money, raw materials, and the like) wisely
and cost effectively
3. Effectiveness: to achieve results, to make the right decisions and to
successfully carry them out so that they achieve the organization's goals
4. Management Process includes...:
1. Planning
2. Organizing
3. Leading
4. Controlling
5. Planning (Management Process): you set goals and decide how to achieve
them
6. Organizing (Management Process): you arrange tasks, people, and other
resources to accomplish the work
7. Leading (Management Process): you motivate, direct, and otherwise
influence people to work hard and achieve the organization's goals
8. Controlling (Management Process): you monitor performance, compare it
with goals, and take corrective action as needed
9. Four Levels of Management:
Level 1: Top managers
Level 2: Middle managers
Level 3: First-line managers
Level 4: Team Leader
, 10. Level 1 Top Managers: Those who make long term decisions about the
overall direction of the organization and establish the objectives, policies, and
strategies for it
11. Level 2 Middle Managers: Those who implement the policies and plans of
the top managers above them and supervise and coordinate the activities of the
first-line managers below them
12. Level 3 First-Line Managers: Those who make short-term operation
decisions, direction the daily tasks of non-managerial personnel
13. Level 4 Team Leaders: Those who are responsible for facilitating team
activities toward achieving key results
14. Functional Managers: Are responsible for just one organizational activity
ex.) director of finance, vice president of production
15. General Managers: Are responsible for several organizational activities ex.)
executive vice president, an executive director for a nonprofit
16. Seven Challenges for Being an Exceptional Manager:
1. Competitive advantage
2. Information technology
3. Diversity
4. Globalization
5. Ethical standards
6. Sustainability
7. Happiness and meaningfulness
17. Scientific Management (Definition): emphasized the scientific study of
work methods to improve the productivity of individual workers
18. Scientific Management (Principles):
1. Scientifically study each part of the task
2. Carefully select workers with the right abilities
3. Give workers the training and incentives to do the task properly
4. Use scientific principles to plan the work methods
