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69 Cards in this Set

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VCM
Value Chain Managrment- The development of a set of functional-level strategies that support a company's business-level strategy and strengthen its competitive advantage
Functions- marketing functions, materials management, production functions
4 ways to lower cost or increase differentiation
Achieve superior efficiency
Achieve superior quality
Achieve superior innovation
Attain superior responsiveness to customers
TQM
Total Quality Management- A management technique that focuses on improving the quality of an organization's products and services
Fixed Position Layout
Is when the product stays in a fixed position and its components which are produced in separate areas are brought to the product
Technology
The combination of skills and equipment that managers use in designing, producing, and distributing goods and services
Incremental vs. Quantum product innovation
Incremental- The gradual improvement and refinement of existing technologies are perfected
Quantum- The development of new, often radically different, kinds of fundamental shifts in technology brought about pioneering discoveries
Job design
The process by which managers decide how to divide tasks into specific jobs
Job enlargement/enrichment
Enlargement- increasing the number of different tasks in a given job by changing the division of labor
Enrichment- Increasing the degree of responsibility a worker has over his or her job
5 characteristics that determine how motivating a job is
Skill variety- extent of skill required to do job
Task identity- how crucial each task of the job is
Task significance- how meaning ful the task is
Autonomy- Freedom to make decisions and be own boss
Feedback- clear and direct feednack as to how well an employee is doing their job
Functional Structure
An organizational structure composed of all the departments that an organization requires to produce its goods or services
Divisional structure
An organizational structure composed of separate business units within which are functions that work together to produce a specific product for a specific customer.
Product structure
An organizational structure in which each product line or business is handled by a self-contained division
Geographic structure
An organizational structure in which each region of a country or area of the world is served by a self contained division
Market structure
An organizational structure in which each kind of customer is served by a self-contained division, also called customer structure
Tall vs. Flat
Referring to organizational structures
Tall- an organizational structure containing many levels of vertical management hierarchy(7 levels)
Flat- an organizational structure consisting of few levels of vertical management(3 levels)
Decentralized vs. Centralized
An organizational structure strategy.
Decentralize- Giving lower level managers more decision making power, decentralizing power down the chain of command keeping management flat
Centralized- management is keeping decision making powers among only leaders of each level, creates tall management style.
Flexible vs. Rigid
Organizational structure type
Flexible
Chain of command
The order in which authority is distributed throughout an organization
Task force
A committee of managers from various functions or divisions who meet to serve a special purpose or solve a problem, also known as an ah-hoc committee
Norms
Unwritten, informal codes of conduct that prescribe how people should act in particular situations and are considered important by most members of a group or organization
Cross-functional teams
A group of managers brought together from different departments to perform organizational tasks
Adaptive vs. inert culture
Adaptive- an environment where managers can adapt to situations and are innovative
Inert- a weak or non responsive management environment
Feedforward control
Control that allows managers to anticipate problems before they arise, obviously so they can be addressed before they become a problem
Output Control
a manager chooses an output control to reach their goals
Control process
4 steps in the control process
Establish standards goals and such
Measure actual performance
Compare what you have found
Evaluate results
Ratios
Different ratios for measuring financial performance
Return on investment
Liquidity ratios
Leverage ratios
Activity ratios
Direct supervision
THe most immediate and potent form of behavior control, micromanaging
MBO goal setting
Management by objectives- a goal setting process in which a manager and each of his or her subordinates negotiate specific goals and objectives for the subordinate to achieve and then periodically evaluate the extent to which the subordinate is achieving those goals
Bureaucratic Control
Control of behavior by means of a comprehensive system of rules and standard operating procedures
Recruitment and Selection
Important aspects of HRM and dealing with employment
Recruitment- Activities that managers engage in to develop a pool of qualified candidates for open positions
Selection- The process that managers use to determine the relative qualifications of job applications and their potential for performing well in a particular job
Linking pay to performance
can result in animosity among employees but generally has positive results
Training and development
Training- Teaching organizational members how to properly and efficiently perform their tasks
Development- Building the knowledge and skills they already have learned and prepare them for future
Needs assessment
An assessment of which employees need training or development and what type they need to acquire
ADEA
Age Discrimination in Employment Act 1967- prohibits discrimination in the workforce of people over the age of 40
Supply and demand forcasting
part of HR management-
Demand forecasting- estimate the qualifications and numbers of employees an organization will need given its goals
Supply- Estimate the availability and qualifications of current employees now and in the future as well as supply of qualified workers in the external labor market
Job analysis
Identifying the tasks, duties, and responsibilities that make up a job and the knowledge, skills, and abilities needed perform the job
Lateral moves
A job change that entails no major changes in responsibility or authority levels
RJP
Realistic Job Preview- An honest assessment of the advantages and disadvantages of a job and organization
Background information
Part of the selection process- obtained to aid in the selection process. helps organizations to see a potential employees background
Structured vs. unstructured interviews
Basically like formal and informal
Testing
Used in various interviews
Paper-and-pencil test- two forms used for selection, personality and ability
Physical ability- used for jobs requiring physical actions such as fire/police...
Performance tests- measuring performance level of actual job tasks
Appraisals
Evaluation of employees job performance and contributions to the organizations
Objective appraisal
An appraisal that is based on facts and is likely to be numerical
Subjective appraisal
An appraisal that is based on perceptions of traits, behaviors, or results
360 degree appraisal
A performance appraisal by peers, subordinates, superiors, and sometimes clients who are in a position to evaluate a managers performance
intrinsically motivated behavior
behavior that is performed for its own sake
extrinsically motivated behavior
behavior that is performed to acquire material or social rewards or to avoid punishment
Expectancy theory
The theory that motivation will be high when workers believe that high levels of effort lead to high performance and high performance leads to the attainment of desired outcomes
expectancy
in expectancy theory a perception about the extent to which effort results in a certain level of performance
Instrumentality
in expectancy theory a perception about the extent to which performance results in attainment of outcomes
valence
In expectancy theory, how desirable each of the outcomes available from a job or organization is to a person
Maslow's Hierarchy of needs
physiological needs- shelter, food
safety needs- needs for safety and security
belongingness- social acception
esteem needs- needs to feel good about ones self
self actualization needs- the need to realize ones full potential as a human
Equity theory
A theory of motivation that focusses on peoples perceptions of the fairness of their work outcomes relative to their work inputs
goal setting theory
A theory that focuses on identifying the types of goals that are most effective in producing high levels of motivation and performance and explaining why goals have these effects
operant conditioning theory
the theory that people learn to perform behaviors that lead to desired consequences and learn not to perform behaviors that lead to undesired consequences
Piece pay
an individual-based merit plan, managers base pay on number of units each employee produces
commission pay
another individual-based merit pay, managers pay on a percentage of sales
Synergy
Performance gains that result when individuals and departments coordinate their actions
Formal vs. informal groups
Formal groups- a group that managers establish to achieve organizational goals
Informal groups- a group that managers or non managers form to meet their own goals or meet their own needs
Cross functional groups
groups of people from different departments like in hallmark cards there are writers and artists
Top management team
A group composed of the CEO, the president, and the heads of the most important departments
Command group
A group composed of subordinates who report to the same supervisor; also called department or unit
Task Forces
A special group of people who are put together to solve a specific task for the organization also known a s an ad hoc committee
Task interdependence
The degree to which the work performed by one member of a group influences the work performed by other members
Pooled task interdependence
When members of a group all make separate and independent contributions to a project
Sequential task interdependence
when group members must perform pre-determined tasks in a specific order
Reciprocal task interdependence
When the work performed by each member is completely dependent on the work of the other group members
Stages of group development
Forming, Storming, Norming, Performing, Adjourning
Social Loafing
The tendency of individuals to put forth less effort when they work in groups than when they work alone