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174 Cards in this Set
- Front
- Back
Organization
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a group of people who work together to achieve some specific purpose
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Management
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The pursuit of organizational goals efficiently and effectively by integrating the work of people through planning, organizing, leading, and controlling the organizations resources.
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efficient
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to use resources--people, money, raw materials and the like --wisely and cost effectively
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efficiency
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(the means) the means of attaining the organizations goals
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effective
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means to achieve results, to make the right decisions and to successfully carry them out so that they achieve the organizations goals.
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effectiveness
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(the ends) the organizations ends, the goals.
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Competitive advantage
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is the ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them.
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to outperform a competitor an organization must stay ahead in what four areas?
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1.) being responsive to customers
2.) innovation 3.) quality 4.) efficiency |
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Innovation
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Finding ways to deliver new or better goods or services
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Internet
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the global network of independently operating but interconnected computers, linking hundreds of thousands of smaller networks around the world.
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e-commerce
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"electronic commerce"-the buying and selling of goods or services over computer networks
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e-business
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using the internet to facilitate every aspect of running a business
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project management software
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programs for planning and scheduling the people, costs, and resources to complete a project on time
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e-mail
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text messages and documents transmitted over a computer network
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Databases
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computerized collections of interrelated files
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telecommute
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work from home or remote locations using a variety of information technologies.
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videoconferencing
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using video and audo links along with computers to let people in different locations see, hear, and talk with one another
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collaborative computing
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using state-of-the-art computer software and hardware, will help people work better together
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Knowledge management
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the implementing of systems and practices to increase the sharing of knowledge and information throughout an organization
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sustainability
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economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs.
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Four management functions
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also called the management process.
1.)panning 2.)organizing 3.)leading 4.)controlling |
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Planning
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setting goals and deciding how to achieve them
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organizing
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arranging tasks, people, and other resources to accomplish the work
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Leading
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is defined as motivating, directing, and otherwise influencing people to work hard to achieve the organizations goals.
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Controlling
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monitoring performance, comparing it with goals, and taking corrective action as needed.
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top managers
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make long term decisions about the overall direction of the organization and establish the objectives, policies, and strategies for it
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middle managers
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implement the policies and plans of the top managers above them and supervise and coordinate the activities of the first-line managers below them.
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first-line managers
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make short term operating decisions, directing the daily tasks of nonmanagerial personnel
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functional managers
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responsible for just one organizational activity
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general managers
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responsible for several organizational activities
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Three types of managerial roles
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1.) interpersonal roles
2.) informational roles 3.) decisional roles |
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interpersonal roles
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managers interact with people inside and outside their work units.
-figurehead, leader, liaison |
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informational roles
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-Monitor, disseminator, and spokesperson
-receive and communicate information |
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decisional roles
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-entrepreneur, disturbance handler, resource allocator, and negotiator.
-use information to make decisions to solve problems or take advantage of opportunities. |
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Entrepreneurship
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the process of taking risks to try to create a new enterprise.
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entrepreneur
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is someone who sees a new opportunity for a product or service and launches a business to try to realize it.
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intrapreneur
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someone who works inside an existing organization who sees an opportunity for a product or service and mobilizes the organizations resources to try to realize it.
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internal locus of control
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the belief that you control your own destiny
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Technical skills
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consist of the job specific knowledge needed to perform well in a specialized field.
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conceptual skills
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consist of the ability to think analytically, to visualize an organization as a whole and understand how the parts work together.
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human skills
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consist of the ability to work well in cooperation with other people to get things done.
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evidence based management
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translating principles based on best evidence into organizational practice, bringing rationality to the decision making process
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2 overarching perspectives about management
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Historical and contemporary
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historical perspective
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includes 3 viewpoints
1.) classical 2.)behavioral 3.) quantitative |
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contemporary perspective
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includes three viewpoints
1.) systems 2.)contingency 3.) quality-management |
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classical viewpoint
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emphasized finding ways to manage work more efficiently, had two branches---scientific and administrative
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scientific management
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emphasized the scientific study of work methods to improve the productivity of individual workers
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administrative management
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concerned with managing the total organization.
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behavioral viewpoint
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emphasized the importance of understanding human behavior and of motivating employees toward achievement.
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3 phases of the behavioral viewpoint
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early behaviorism, the human relations movement, and behavioral science
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human relations movement
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proposed that better human relations could increase worker productivity
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behavioral science
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relies on scientific research for developing theories about human behavior that can be used to provide practical tools fro managers.
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quantitative management
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the application to management of quantitative techniques, such as statistics and computer simulations.
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2 branches of quantitative management
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management science and operations management
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management science
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focuses on using mathematics to aid in problem solving and decision making.
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operations management
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focuses on managing the production and delivery of an organizations products or services more effectively.
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system
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is a set of interrelated parts that operate together to achieve a common purpose
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systems viewpoint
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regards the organization as a system of interrelated parts
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subsystems
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parts making up the whole system
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Four parts of a system
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1.) inputs
2.) outputs 3.) transformation processes 4.) feedback |
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inputs
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the people, money, information, equipment, and materials required to produce an organizations goods or services
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outputs
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products, services, profits, losses, employee satisfaction or discontent, and the like that are produced by the organization
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transformation processes
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are the organizations capabilities in management and technology that are applied to converting inputs and outputs
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feedback
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information about the reaction of the environment to the outputs that affects the inputs
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open system
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continually interacts with its environment.
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closed system
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has little interaction with its environment
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the contingency viewpoint
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emphasizes that a managers approach should vary according to--that is contingent on--the individual and the environmental situation
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quality management viewpoint
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includes quality control, quality assurance and total quality management.
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quality
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the total ability of a product or service to meet customer needs
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quality control
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the strategy for minimizing errors by managing each stage of production
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quality assurance
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focuses on the performance of workers, urging employees to strive for "zero defects"
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total quality management (TQM)
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comprehensive approach--led by top management and supported throughout the organization--dedicated to continuous quality improvement, training, and customer satisfaction.
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4 components of total quality management (TQM)
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1.) Make continuous improvement a priority
2.) Get every employee involved 3.) Listen to and learn from customers and employees 4.) Use accurate standards to identify and eliminate problems |
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learning organization
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an organization that actively creates acquires and transfers knowledge within itself and is able to modify its behavior to reflect new knowledge.
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3 parts to learning organization
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1.) creating and acquiring knowledge
2.) transferring knowledge 3.) modifying behavior |
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virtual organization
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an organization whose members are geographically apart, usually working with email, collaborative computing, and other computer connections.
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boundaryless organization
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a fluid, highly adaptive organization whose member, linked by information technology, come together to collaborate on common tasks; the collaborators may include competitors, suppliers, and customers.
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knowledge worker
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someone whose occupation is principally concerned with generating or interpreting information, as opposed to manual labor
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human capital
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the economic or productive potential of employee knowledge, experience, and actions.
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social capital
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the economic or productive potential of strong, trusting, and cooperative relationships.
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3 roles managers play in building a learning organization
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1.) you can build a commitment
2.) you can work to generate ideas with impact 3.) you can work to generalize ideas with impact |
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stakeholders
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the people whose interests are affected by an organizations activities
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internal stakeholders
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consist of employees, owners, and the board of directors, if any.
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task environment
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consists of 11 groups that present you with daily tasks to handle: customers, competitors, suppliers, distributors, strategic allies, emplyee organizations, local communities, financial institutions, government regulators, special-interest groups, and mass media.
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external stakeholders
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people or groups in the organizations external environment that are affected by it
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customers
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those who pay to use an organizations goods or services
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competitors
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people or organizations that compete for customers or resources
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supplier
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a person or an organization that provides supplies--that is, raw materials, services, equipment, labor, or energy -- to other organizations
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owners
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all those who can claim it as their property.
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distributor
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a person or an organization that helps another organization sell its goods and services to customers.
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strategic allies
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the relationship of two organizations who join forces to achieve advantages neither can perform as well alone
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clawbacks
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rescinding the tax breaks when firms dont deliver promised jobs
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government regulators
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regulatory agencies that establish ground rules under which organizations may operate
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special interest groups
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groups whose members try to influence specific issues
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general environment
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(macroenvironment) includes six forces: economic, technological, sociocultural, demographic, political-legal, and international.
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economic forces
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consist of the general economic conditions and trends--unemployment, inflation, interest rates, economic growth--that may affect an organizations performance.
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technological forces
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are new developments in methods for transforming resources into goods or services
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sociocultural forces
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influences and trends originating in a countrys, a societys, or a cultures human relationships and values that may affect an organization
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demographic forces
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influences on an organizaion arising from changes in the characteristics of a population, such as age, gender, or ethnic origin
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political-legal forces
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changes in the way politics shape laws and laws shape the opportunities for and threats to an organization
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international forces
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changes in the economic, political, legal, and technological global system that may affect an organization
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ethical dilemma
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a situation in which you have to decide whether to pursue a course of action that may benefit you or your organization but that is unethical or even illegal
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ethics
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are the standards of right and wrong that influence behavior
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ethical behavior
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behavior that is accepted as "right" as opposed to "wrong" according to those standards
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value system
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the pattern of values within an organization.
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values
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are the relatively permanent and deeply held underlying beliefs and attitudes that help determine a persons behavior
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4 approaches to deciding ethical dilemmas
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1.) the utilitarian approach
2.) the individual approach 3.) the moral-rights approach 4.) the justice approach |
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utilitarian approach
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guided by what will result in the greatest good for the greatest number of people.
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individual approach
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guided by what will result in the individuals best long term interests, which ultimately are in everyones self interest.
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moral rights approach
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guided by respect for the fundamental rights of human beings
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justice approach
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guided by respect for impartial standards of fairness and equity
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insider trending
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the illegal trading of a companys stock by people using confidential company information
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Ponzi scheme
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using cash from newer investor to pay off older ones
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Sarbanes-Oxley act of 2002
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often shortened to SarbOx or SOX, established requirements for proper financial record keeping for public companies and penalties of as much as 25 years in prison for noncompliance.
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ethical climate
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represents employees perceptions about the extent to which work environments support ethical behavior
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code of ethics
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consists of a formal written set of ethical standards guiding an organizations actions
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whistle blower
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an employee who reports organizational misconduct to the public
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social responsibility
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a managers duty to take actions that will benefit the interests of society as well as of the organization.
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corporate social responsibility (CSR)
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the notion that corporations are expected to go above and beyond following the law and making a profit
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philanthropy
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making charitable donations to benefit humankind.
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diversity
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represents all the ways people are unlike and alike--the differences and similarities in age, gender, race, religion, ethnicity, sexual orientation, capabilities, and socioeconomic background
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personality
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the stable physical and mental characteristics responsible for a persons identity
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internal dimensions of diversity
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are those human differences that exert a powerful, sustained effect throughout every stage of our lives: gender, age, ethnicity, race, sexual orientation, physical abilities.
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external dimensions of diversity
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include an element of choice; they consist of the personal characteristics that people acquire, discard or modify throughout their lives
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glass ceiling
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the metaphor for an invisible barrier preventing women and minorities from being promoted to top executive jobs
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Americans with disabilities act
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prohibits discrimination against the disabled
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underemployed
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working at jobs that require less education than they have
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ethnocentrism
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the belief that ones native country, culture, language, abilities, or behavior is superior to that of another culture
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globalization
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the trend of the world economy toward becoming a more interdependent system
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global village
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refers to the "shrinking" of time and space as air travel and the electronic media have made it easier for the people of the globe to communicate with one another
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global economy
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refers to the increasing tendency of the economies of the world to interact with one another as one market instead of many national markets
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multinational corporation
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multinational enterprise, is a business firm with operation in several countries
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multinational organization
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a nonprofit organization with operations in several countries
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ethnocentric managers
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believe that their native country, culture, language, and behavior are superior to all others
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parochialism
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that is, a narrow view in which people see things solely through their own perspective
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polycentric managers
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take the view that native managers in the foreign offices best understand native personnel and practices, and so the home office should leave them alone
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geocentric mangers
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accept that there are differences and similarities between home and foreign personnel and practices and that they should use whatever techniques are most effective
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maquiladoras
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manufacturing plants allowed to operate in Mexico with special privileges in return for employing mexican citizens
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outsourcing
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using suppliers outside the company to provide goods and services
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global outsourcing
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using suppliers outside the U.S. to provide labor, goods, or services.
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importing
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a company buys goods outside the country and resells them domestically
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exporting
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a company produces goods domestically and sells them outside the country.
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countertrading
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bartering goods for goods
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licensing
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a company allows a foreign company to pay it a fee to make or distribute the first companys product or service
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franchising
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a form of licensing in which a company allows a foreign company to pay it a fee and a share of the profit in return from using the first companys brand name and a package of materials and services
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joint venture
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aka strategic alliance
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strategic alliance
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a foreign company to share the risks and rewards of starting a new enterprise together in a foreign country.
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wholly-owned subsidiary
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a foreign subsidiary that is totally owned and controlled by an organization
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greenfield venture
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a foreign subsidiary that the owning organization has built from scratch
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free trade
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the movement of goods and services among nations without political or economic obstruction
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trade protectionism
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the use of government regulations to limit the import of goods and services
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tariff
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a trade barrier in the form of a customs duty, or tax, levied mainly on imports
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import quota
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a trade barrier in the form of a limit on the numbers of a product that can be imported
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dumping
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the practice of a foreign companys exporting products abroad at a lower price than the price in the home market--or even below the costs of production--in order to drive down the price of the domestic product
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embargo
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a complete ban on the import or export of certain products
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World trade organization (WTO)
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designed to monitor and enforce trade agreements
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world bank
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provides low interest loans to developing nations for improving transportation, education, health, and telecommunications.
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International Monetary Fund (IMF)
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designed to assist in smoothing the flow of money between nations
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exchange rate
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rate at which one country's currency can be exchanged for another countrys currency
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trading bloc
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aka economic community. A group of nations within a geographical region that have agreed to remove trade barriers with one another
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North American Free Trade Agreement (NAFTA)
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a trading bloc consisting of the united states, canada, and mexico, encompassing 435 million ppl.
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European union (EU)
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consists of 27 trading partners in Europe. Covering 455 million consumers
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Asia-Pacific economic cooperation (APEC)
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a group of 21 pacific rim countries whose purpose is to improve economic and political ties.
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Association of Southeast Asian Nations (ASEAN)
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a trading bloc consisting of 11 countries in Asia
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The Central America Free Trade Agreement (CAFTA-DR)
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involves the United States and Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua--is intended to reduce tariffs and other barriers to free trade
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Mercosur
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is the largest trade bloc in Latin America and has four core members--Argentina, Brazil, Paraguay, and Uruguay, with Venezuela scheduled to become a full member upon ratification by other countries--and five associate members: Bolivia, Chile, Colombia, Ecuador, and Peru
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Most favored nation
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trading status describes a condition in which a country grants other countries favorable trading treatment such as the reduction of import duties
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low context culture
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shared meanings are primarily derived from written and spoken words
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high context culture
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people rely heavily on situational cues for meaning when communicating with others
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Hofstede model of four cultural dimensions
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four dimensions along which national cultures can be placed:
1.) individualism/collectivism 2.) power distance 3.) uncertainty avoidance 4.) masculinity/femininity |
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GLOBE project
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a massive and ongoing cross-cultural investigation of nine cultural dimensions involved in leadership and organizational processes
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monochronic time
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a preference for doing one thing at a time
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polychronic time
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a preference for doing more than one thing at a time
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expatriates
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people living or working in a foreign country
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