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UA KIN 464 - Exam 1 Study Guide

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KIN 464Exam # 1 Study Guide Lectures: 1 - 3Lecture 1 – Sport ManagementSport: A competitive activity utilizing specialized equipment and facilities that is of athletic, or recreational nature.Management: achieving objectives by utilizing human resources in the most efficient way possible.Planning: setting goals and objectives in behavioral or objective terms and then developing a method of achieving them.Organizing: create efficiency of effort through people to reach objectivesImplementing: putting the plans into actionControlling: the performance on schedule according to the planPioneers of Management: individuals who began the modern management movement and had lasting influence on the practice of management today.F.W. Taylor: known as the “father of scientific management”, he was a time an motion expert who did studies to develop uniform standards of work.Henri Fayol: Defined the 14 Priciples of ManagementDivision of Work: specialization ; the object is to produce more and higher quality work with the same amount of effortAuthority and responsibility: Authority = the right to give orders and the power to demand obedienceResponsibility = what comes with authorityDiscipline: training to ensure order and obedienceUnity of Command: employees should receive orders from one superior onlyUnity of Direction: all effort from everyone in the organization should be focused on the same objective.Subordination of Individual Interest to General Interest: the interests of one employee should not be more important than the interests of the organization as a wholeRemuneration of Personnel: all rewards (wages etc.) should be fair and reasonableCentralization & Decentralization: Decentralization: increasing the importance of the subordinate’s roleCentralization: to reduce the importance of the subordinate’s role*Scalar Chain: Fayol treats authority as links in a chain, there is a bridge between levels ofsubordinates allowing them to communicate – known as Fayol’s “gang plank”Order: there must be an appointed place for every employee and every employee should be in his/her appointed place.Equity: fairness resulting from a combination of kindness and justice that leads to loyaltyStability of Tenure of Personnel: required for a successful firm.Initiative: doing something without being askedEspirit de Corps: there is strength in unity and harmony.G. Elton Mayo: said every manager should be concerned with personnel and human relations. This marked the beginning of the Human Relations MovementTraditional/Scientific Management: shop management orientation dedicated to reducing waste and improving efficiencyBehavioral Management Thought: concentrates on personnel and their needs and morale – uses social sciencesBasic Process: functions of a manager are universalQuantitative Management Science: stresses logic and objectivity in making decisionsSynergistic: using resources so effectively that the value of the result is greater than the cost of the resources usedLecture 2 – Management EnvironmentManagement Environment: the sum of all the social, cultural, economic, and physical factors thatinfluence the lifestyle of an individual, organization or community.- social, cultural, economic, and physical are all factors that influence a managerOccupational Safety and Health Act: imposed safety and protection guidelines and increased complexity for managers by government interventionGlobalization: expansion of markets internationallyConsumerism: Better-educated consumers demand higher quality goods and satisfaction of complaints.Demographics: statistical study of human population with emphasis on size and density, distribution and vital statistics.Diversity: differences among people in a population ex: gender, age, culture, sexual orientation, etc.Ethics: generally considered to be a set of moral values and/or principlesEthical Behavior: goes beyond what is legally correct and adds the behavior degree of social responsibility. Deontology: theory of moral obligation; to do absolutely no harm to anyone at all.Teleology: the end justifies the means; balancing sacrifice with the greater goodSocial Responsibility: the duty of the business to promote and act in the best interest of the welfare of society. A manager’s ability to act is limited by what?- Internal and External constraintso Internal: Organizational Documents Limited Resources Organizational Guidelines Custom/Long Established Practiceso External: Legal and Political Considerations Constraints imposed by the public Actions of Competitors Effect of Labor Unions Society’s Effect The Economy What are the two most prominent topics in management today?- Ethics & Social Responsibility Managers must balance….- Achieving objectives- Maintaining the internal system- Adapting to the environment What is involved in making ethical decisions?- Utility – does it optimize benefits?- Rights – does it respect the rights of those involved?- Justice – is it fair?- Intent – is there no prejudice?  Principles to Guide Decision-making toward better ethics:- Tell the truth- Maximize well-being of owners within the law- Balance interest of stakeholders- Achieve most social good you can- Follow standard business practices- Keep contractual and promissory obligations- Treat employees with dignity and respect What are management’s most important social responsibilities? - Provide safe products- Provide a safe and healthy environment- Protect the physical environment- Provide equal opportunities- Obey the spirit and letter of laws – be ethical- Provide public service programsLecture 3 – PlanningFuturistic Nature of Planning: you cannot foresee or control all variables that affect the plansStrategic Plans: developed to achieve the broadest objective, used by the senior management forlong-run goals.Tactical Plans: represent operational objectives needed to be achieved in order to reach strategic goals, used by middle management.Operational Goals: achieving operational objectives is part of the effort to reach tactical goals, used by lower management for short-term goals.Management by Objectives (MBO): a popular decision making aid that converts organizational objectives into group and individual objectives to more effectively implement plans.Gantt Chart: a graphical representation of the duration of tasks against the progression of time; used as a


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