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Essay on Chapter14 Prep 2

Decent Essays

Chapter Fourteen
Management, Motivation, and Leadership: Bringing Business to Life

Review Questions

1. Review the definition of management at the beginning of the chapter and briefly define each of the 4 functions. What are the challenges in carrying out these functions in today’s hyper-competitive marketplace?

Planning- Determining organizational goals and action plans for how to achieve those goals.
Organizing- determining a structure for both individual jobs and the overall organization.
Leading-directing and motivating people to achieve organizational goals.
Controlling-monitoring performance and making adjustments as needed.
The challenge in planning is that planning is essentially forecasting future actions and events. Most …show more content…

Should we spend fewer ad dollars on TV and more on the web?

Operational planning: First line management, daily, weekly and monthly TF
How should we schedule employees this week? When should we schedule delivery for each batch of product? How should customer service people answer the phones?

Successful firms often encourage flow of feedback up and down the organization to ensure that all key plans are sound and that all key players “buy in.”

6. What is the purpose of a mission statement? Why are the most effectictive mission statements simple, vivid, and compelling?

The mission defines the organization’s purpose, values, and core goals, providing the framework for all other plans. It is simple, vivid and compelling so that the employees from the janitor to the CEO, from the customers to investors can easily understand.

7. Name five potential sources of competitive advantage that might be strengths in a SWOT analysis. Are these advantages likely to change over time? Why or why not?

Premium brand name, proven management team, lower costs/ higher margins, diverse workforce, higher consumer demand. I think these are definitely likely to change simply cause who knows how long you can maintain a low cost, high margin company. Anything can happen.

8. What are the pros and cons of each key organizational structure? Which do you think would be the best fit for you? Explain your answer.

Centralization:
Pros: simple and

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