WGU C483 Principals of Management
Latest 2022 Graded A+
vision statement ✔✔where the organization wants to be in the future
Mission Statement ✔✔what the organization needs to do now to achieve the vision
"Great Man" theory ✔✔certain traits determine good leadership
behavioral theory ✔✔behaviors are conditioned as a result of the environment
contingency theory ✔✔based on the idea that leadership styles are situational
transactional theory ✔✔goals between the organization and individual must be aligned; reward
system
full-range theory ✔✔a component of transformational leadership which enhances motivation and
morale
individualized consideration ✔✔Leader attends to followers' needs, acts as a mentor or coach,
listens to followers' concerns
intellectual stimulation ✔✔leader challenges assumptions and tasks risks
inspirational motivation ✔✔Leader articulates a vision that appeals to followers
idealized influence ✔✔Leader behaves in charismatic ways that cause followers to identify with
him or her
,path-goal theory ✔✔it's the leader's job to assist followers in attaining goals and provide direction
to ensure goals are compatible with the organization
5 main functions of managers ✔✔planning, organizing, leading, coordinating, controlling
planning function of management ✔✔setting organizational goals, developing strategies to reach
those goals, determining resources needed, setting precise standards
Organizing function of management ✔✔the process of assigning tasks, allocating resources, and
coordinating work activities, evaluate results
leading function of management ✔✔-guiding and motivating employees to work effectively to
accomplish organizational goals and objectives
-giving assignments
-explaining routines
-clarifying policies
-providing feedback on performance
coordinating function of management ✔✔coordinate the work of others both inside the work unit
and out
controlling function of management ✔✔monitoring progress and correcting for any veering off
the path
technical managerial skills ✔✔Specific areas of knowledge and expertise and the ability to apply
that knowledge
, human relations skills ✔✔the ability to understand human behavior, to communicate effectively
with others, to listen to the ideas of others, and to motivate individuals to accomplish their
objectives
conceptual skills ✔✔the ability to view the organization as a whole and understand how the
various parts are interdependent as well as assess how the organization fits into its external
environment, how it relates to its competition in the same industry, and how it produces value for
the customer
Mintzberg's Managerial Roles ✔✔Interpersonal: figurehead, leader, liaison
Informational: monitor, disseminator, spokesperson
Decisional: entrepreneur, disturbance handler, resource allocator, negotiator
leadership ✔✔establishing a direction and influencing others to follow
management ✔✔successfully administering the details in business operations
strategic management process ✔✔strategy analysis, strategy formulation, strategy
implementation, and strategy evaluation and control
strategy analysis ✔✔study of firms' external and internal environments, and their fit with
organizational vision and goals; SWOT or PESTLE
strategy formulation ✔✔goals and objectives are written
strategy implementation ✔✔planning stops and action begins
strategy evaluation and control ✔✔performance measurements are used to determine progress and
changing goals may be necessary
Latest 2022 Graded A+
vision statement ✔✔where the organization wants to be in the future
Mission Statement ✔✔what the organization needs to do now to achieve the vision
"Great Man" theory ✔✔certain traits determine good leadership
behavioral theory ✔✔behaviors are conditioned as a result of the environment
contingency theory ✔✔based on the idea that leadership styles are situational
transactional theory ✔✔goals between the organization and individual must be aligned; reward
system
full-range theory ✔✔a component of transformational leadership which enhances motivation and
morale
individualized consideration ✔✔Leader attends to followers' needs, acts as a mentor or coach,
listens to followers' concerns
intellectual stimulation ✔✔leader challenges assumptions and tasks risks
inspirational motivation ✔✔Leader articulates a vision that appeals to followers
idealized influence ✔✔Leader behaves in charismatic ways that cause followers to identify with
him or her
,path-goal theory ✔✔it's the leader's job to assist followers in attaining goals and provide direction
to ensure goals are compatible with the organization
5 main functions of managers ✔✔planning, organizing, leading, coordinating, controlling
planning function of management ✔✔setting organizational goals, developing strategies to reach
those goals, determining resources needed, setting precise standards
Organizing function of management ✔✔the process of assigning tasks, allocating resources, and
coordinating work activities, evaluate results
leading function of management ✔✔-guiding and motivating employees to work effectively to
accomplish organizational goals and objectives
-giving assignments
-explaining routines
-clarifying policies
-providing feedback on performance
coordinating function of management ✔✔coordinate the work of others both inside the work unit
and out
controlling function of management ✔✔monitoring progress and correcting for any veering off
the path
technical managerial skills ✔✔Specific areas of knowledge and expertise and the ability to apply
that knowledge
, human relations skills ✔✔the ability to understand human behavior, to communicate effectively
with others, to listen to the ideas of others, and to motivate individuals to accomplish their
objectives
conceptual skills ✔✔the ability to view the organization as a whole and understand how the
various parts are interdependent as well as assess how the organization fits into its external
environment, how it relates to its competition in the same industry, and how it produces value for
the customer
Mintzberg's Managerial Roles ✔✔Interpersonal: figurehead, leader, liaison
Informational: monitor, disseminator, spokesperson
Decisional: entrepreneur, disturbance handler, resource allocator, negotiator
leadership ✔✔establishing a direction and influencing others to follow
management ✔✔successfully administering the details in business operations
strategic management process ✔✔strategy analysis, strategy formulation, strategy
implementation, and strategy evaluation and control
strategy analysis ✔✔study of firms' external and internal environments, and their fit with
organizational vision and goals; SWOT or PESTLE
strategy formulation ✔✔goals and objectives are written
strategy implementation ✔✔planning stops and action begins
strategy evaluation and control ✔✔performance measurements are used to determine progress and
changing goals may be necessary
