MGT 3200 : MGT 3200 Exam 1
Document Summary
Management- the process of achieving desired results through the efficient utilization of human and material resources. * 2 key concerns: effectiveness- concerned with goal attainment; doing the right thing, at the right time, in the right way. * concerned with the ends: efficiency- concerned with reducing waste or minimizing resource costs since many resources are scarce (money, people, equipment) * concerned with the means to the end. * high efficiency is more typically associated with high effectiveness. * poor management is most often due to both ineffectiveness and inefficiency or effectiveness through inefficiency. * also borrows heavily upon fields such as psychology, sociology, anthropology, and economics: art- management is practiced as an art form because it is a natural extension of their personalities and comes easily or naturally to them. * also because there are many different paths towards managerial success, as well as many different styles that are successful. * equifinality- not only one style of management is effective.
