MGT 3200 : Management 3200 Exam 1 Material
Document Summary
Management is the process of achieving desire results through the efficient utilization of human and material resources. Effectiveness refers to doing the right things at the right time. Efficiency refers to minimizing waster or reducing resource costs. Ford"s actions were market share going down ineffective but cut cost efficient (ineffective but efficient) A company that is effective but inefficient is better than a company that is ineffective but efficient. Most important things to look for when using application: Top managers: set the overall goals, and overall plans to achieve. Each level has a different function and focus. 2)the managers who remain are asked to do more work. 4)staff management functions are farmed out to consulting firms. Survivors syndrome: people who survive manmade or natural disaster go through certain emotions ***extra credit*** Answer: prices for goods increased as a result. Answer: efficient organizations tend to be effective ones as well.
