Manageria

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Add To What You Know ⁽¹⁾

Prepared by: "Optimanage.com" Team

When Planning your Career Keep the Following in Mind

Self-Exploration:		The term includes the following; Values Clarification: Self Analysis (interests, attitudes, motivation, aptitude, lifestyle) Needs Assessments: financial, geographic Skills Identification: The person’s capabilities, achievements and qualities Life Goals Decision-Making skills
Career Exploration:		The process to develop information regarding career alternatives by identifying occupational areas of jobs that could satisfy the person’s self (as in self-exploration).
Career Life Planning:		The process of planning the objectives of a person’s professional career. This process also may include a long-term retirement objective. This process consists of an assessment of a person’s values, strengths, interests and goals. The process relates these four aspects to the person’s career and life aspirations and plans.

Managing Business in an International Environment

Absolute Advantage:		When a country (a geographical area) can produce a product exclusively or nonexclusively but more cheaply than other countries; this country possesses a marketing absolute advantage for that product.
Comparative Advantage:		When a country produces a product because it has greatest advantage – or has least disadvantage – in doing so, in relation to other countries. Such a situation is called comparative advantage.

When Managing Work Groups

Span of Control:		Also known as Span of Management. It is the number of employees that are supervised by one manager (or by one supervisor). It is usually expressed as a ratio of Manager to Employees (manager: employees). An example would be [1 : 6]; which indicates that one (1) manager is supervising six (6) employees.
Linkpin View of an Organization:		This is when a large organization is viewed as a set of interrelated groups. This is a conceptualization developed by Rensis Likert (1903-1981).
Group Norms:		These are a group’s acceptable and desirable forms of; behavior, ideals, opinions and standards.

On Organizational Structures

Scalar Principle:		It is also known as Chain of Command. It is a clear definition of authority in an organization. This authority will flow down the chain of command from the top level to the lowest level.
Departmentalization:		It is the grouping of related functions into manageable units to achieve the objectives of the organization in the most efficient and effective way.
Centralization:		It happens in an organization when delegation of authority in limited or is at a minimum. Authority is kept and maintained in the upper level(s) in the organization.
Decentralization:		It takes place in an organization when a significant amount of authority is delegated to the lower levels.
Delegation:		It is the process that facilitates managing organizations. It is an activity used as an organizing function. A manager performs his function through delegating responsibility and authority to others. He also establishes methods of accountability for results. As the nature of management is getting things done through others, it becomes important to delegate activities to others.

On Organizing

Organizing:		It is the process of bringing together physical and human resources together in an orderly fashion to achieve the goals of the enterprise.
Organization:		It is the organized entity that allows a group to work together to achieve goals. In such an environment a group or a team will work more effectively than if they work alone.
Organization Chart:		It is a schematic chart representing the structure of an organization. This chart describes how work is arranged, related and can be performed.

References:
(1) Patrick J. Montana and Bruce H. Charnov, "Management", Business Review Books, Third Edition, Baron’s (2000).