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69 Cards in this Set
- Front
- Back
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VCM
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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 |
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4 ways to lower cost or increase differentiation
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Achieve superior efficiency
Achieve superior quality Achieve superior innovation Attain superior responsiveness to customers |
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TQM
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Total Quality Management- A management technique that focuses on improving the quality of an organization's products and services
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Fixed Position Layout
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Is when the product stays in a fixed position and its components which are produced in separate areas are brought to the product
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Technology
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The combination of skills and equipment that managers use in designing, producing, and distributing goods and services
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Incremental vs. Quantum product innovation
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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 |
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Job design
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The process by which managers decide how to divide tasks into specific jobs
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Job enlargement/enrichment
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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 |
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5 characteristics that determine how motivating a job is
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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 |
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Functional Structure
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An organizational structure composed of all the departments that an organization requires to produce its goods or services
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Divisional structure
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An organizational structure composed of separate business units within which are functions that work together to produce a specific product for a specific customer.
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Product structure
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An organizational structure in which each product line or business is handled by a self-contained division
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Geographic structure
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An organizational structure in which each region of a country or area of the world is served by a self contained division
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Market structure
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An organizational structure in which each kind of customer is served by a self-contained division, also called customer structure
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Tall vs. Flat
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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) |
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Decentralized vs. Centralized
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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. |
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Flexible vs. Rigid
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Organizational structure type
Flexible |
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Chain of command
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The order in which authority is distributed throughout an organization
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Task force
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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
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Norms
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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
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Cross-functional teams
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A group of managers brought together from different departments to perform organizational tasks
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Adaptive vs. inert culture
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Adaptive- an environment where managers can adapt to situations and are innovative
Inert- a weak or non responsive management environment |
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Feedforward control
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Control that allows managers to anticipate problems before they arise, obviously so they can be addressed before they become a problem
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Output Control
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a manager chooses an output control to reach their goals
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Control process
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4 steps in the control process
Establish standards goals and such Measure actual performance Compare what you have found Evaluate results |
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Ratios
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Different ratios for measuring financial performance
Return on investment Liquidity ratios Leverage ratios Activity ratios |
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Direct supervision
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THe most immediate and potent form of behavior control, micromanaging
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MBO goal setting
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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
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Bureaucratic Control
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Control of behavior by means of a comprehensive system of rules and standard operating procedures
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Recruitment and Selection
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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 |
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Linking pay to performance
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can result in animosity among employees but generally has positive results
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Training and development
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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 |
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Needs assessment
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An assessment of which employees need training or development and what type they need to acquire
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ADEA
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Age Discrimination in Employment Act 1967- prohibits discrimination in the workforce of people over the age of 40
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Supply and demand forcasting
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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 |
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Job analysis
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Identifying the tasks, duties, and responsibilities that make up a job and the knowledge, skills, and abilities needed perform the job
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Lateral moves
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A job change that entails no major changes in responsibility or authority levels
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RJP
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Realistic Job Preview- An honest assessment of the advantages and disadvantages of a job and organization
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Background information
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Part of the selection process- obtained to aid in the selection process. helps organizations to see a potential employees background
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Structured vs. unstructured interviews
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Basically like formal and informal
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Testing
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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 |
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Appraisals
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Evaluation of employees job performance and contributions to the organizations
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Objective appraisal
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An appraisal that is based on facts and is likely to be numerical
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Subjective appraisal
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An appraisal that is based on perceptions of traits, behaviors, or results
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360 degree appraisal
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A performance appraisal by peers, subordinates, superiors, and sometimes clients who are in a position to evaluate a managers performance
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intrinsically motivated behavior
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behavior that is performed for its own sake
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extrinsically motivated behavior
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behavior that is performed to acquire material or social rewards or to avoid punishment
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Expectancy theory
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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
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expectancy
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in expectancy theory a perception about the extent to which effort results in a certain level of performance
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Instrumentality
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in expectancy theory a perception about the extent to which performance results in attainment of outcomes
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valence
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In expectancy theory, how desirable each of the outcomes available from a job or organization is to a person
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Maslow's Hierarchy of needs
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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 |
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Equity theory
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A theory of motivation that focusses on peoples perceptions of the fairness of their work outcomes relative to their work inputs
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goal setting theory
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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
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operant conditioning theory
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the theory that people learn to perform behaviors that lead to desired consequences and learn not to perform behaviors that lead to undesired consequences
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Piece pay
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an individual-based merit plan, managers base pay on number of units each employee produces
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commission pay
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another individual-based merit pay, managers pay on a percentage of sales
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Synergy
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Performance gains that result when individuals and departments coordinate their actions
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Formal vs. informal groups
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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 |
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Cross functional groups
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groups of people from different departments like in hallmark cards there are writers and artists
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Top management team
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A group composed of the CEO, the president, and the heads of the most important departments
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Command group
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A group composed of subordinates who report to the same supervisor; also called department or unit
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Task Forces
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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
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Task interdependence
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The degree to which the work performed by one member of a group influences the work performed by other members
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Pooled task interdependence
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When members of a group all make separate and independent contributions to a project
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Sequential task interdependence
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when group members must perform pre-determined tasks in a specific order
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Reciprocal task interdependence
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When the work performed by each member is completely dependent on the work of the other group members
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Stages of group development
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Forming, Storming, Norming, Performing, Adjourning
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Social Loafing
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The tendency of individuals to put forth less effort when they work in groups than when they work alone
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