CH9: Introduction to General and Strategic Management

charnekeen
Flashcards by charnekeen, updated more than 1 year ago
charnekeen
Created by charnekeen over 5 years ago
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To understand the overarching business function called general and strategic management, including various including various management concepts such as the management tasks, levels, skills, competencies and roles

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Question Answer
Management The process of getting things done, in other words, achieving the strategic intentions of businesses, with the help of the other members of the business.
General Management General management is the overarching business function charged with the management and integration of all the other business functions and executing the managerial tasks.
Leadership Leadership is the ability of a manager to influence the behaviour of co-workers through motivation, communication and empowerment, so that they voluntarily contribute to the attainment of the business intentions of their firms.
Strategic Management The process of forming a strategic vision, setting objectives, crafting a strategy, implementing and executing the strategy, taking on-going corrective action to the strategy.
Strategic Management Process 1. Developing a strategic visions and business mission. 2. Setting goals and objectives. 3. Creating an operational strategy to achieve goals and objectives. 4. Implementing and executing the strategy. 5. Evaluating performance monitoring new developments and initiating corrective adjustments.
Management Levels 1. Executive Management 2. Middle Management 3. Lower-level Management
Executive Management Executive management comprises those individuals or groups (founder entrepreneurs and executive managers) who are responsible for managing the firm as a whole.
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