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76 Cards in this Set
- Front
- Back
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Management
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the process of working with people and resources to accomplishorganizational goals
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Planning
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systematically making decisions about the goals and activities that anindividual, a group, a work unit, or the overall organization will pursue
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Organizing
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the management function of assembling and coordinating human,financial, physical, informational, and other resources needed to achieve goals
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Leading
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the management function that involves the manager's efforts to stimulatehigh performance by employees
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Controlling
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the management function of monitoring performanceand making needed changes; ex. Total quality management (reducing to zerodefects)
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Top-Level Managers/Strategic Managers
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senior executives responsible for the overall management andeffectiveness of the organization; focus on long term issues
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Middle-Level Mangers/Tactical Managers
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managers located in the middle layers of the organizational hierarchy,reporting to the top-level executives
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Frontline Managers/Supervisors
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lower-level managers who supervise the operational activities of theorganization
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Technical Skill
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the ability to perform a specialized task involving a particularmethod or process; what you went to school for
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Conceptual and Decision Skills
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skills pertaining to the ability to identify and resolve problems forthe benefit of the organization and its members; the employee who has an issueand suggests solutions to higher ups
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Interpersonal and Communication Skills
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people skills; the ability to lead, motivate, and communicateeffectively with others
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Emotional Intelligence
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the skills of understanding yourself, managing yourself, and dealingeffectively with others; ex. knowing when something is getting to you and whenyou need to walk away and take a break
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Specialist
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someone who specializes in something useful
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Generalist
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knowing enough about a variety of disciplines
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Self-Reliant
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to take full responsibility foryourself and your actions
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Social Capital
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goodwill stemming from your social relationships; a competitiveadvantage in the form of relationships with other people and the image otherpeople have of you; ex. Networking, keeping inappropriate pictures posts/picsoff social media
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Macroenvironment
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thegeneral environment; includes governments, economic conditions, andother fundamental factors that generally affect all organizations
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Economy
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whether or not people are willing to spend their disposablemoney
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Technology
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keeping up with the rest of society
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Laws and Regulations
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ex. Restaurants and beauty salons; regulatory agencies enforcepan>
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Demographics
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measures of various characteristics of the people who make upgroups or social units; ex. Plants and businesses need to know for a customerbasis and labor force available to employ
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Sustainability and the Natural Environment
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dependability on the natural environment to provide withresources
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Competitors
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"who is the competition?"; sell similar products and havesimilar customers
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New Entrants
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new businesses that compete withexisting established companies
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Barriers to Entry
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conditions that prevent newcompanies from entering an industry
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Barriers to Entry
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Government Policy
Capital Requirements Brand Identification Cost Disadvantages Distribution Channels |
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Substitutes
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a product a customer may buy instead of yours
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Complements
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when you buy one product, you will usually buy something else to goalong with it
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Suppliers
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provide the raw materials/input to make our product; the fewer thesuppliers, the more power they will have
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Switching Costs
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fixed costs buyers face when they change suppliers
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Supply Chain Management
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the managing of the network of facilities and people that obtainmaterials from outside the organization, transform them into products, anddistribute them to customers
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Environmental Scanning
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searching for and sorting through information about the environment;when you do this, you are gauging your competitive environment
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Forecasting
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method for predicting how variables change the future; variablescould be sales, interest rates, etc.
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Benchmarking
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the process of comparing an organization's practices and technologieswith those of other companies
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Domain Selection
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entering a new market or industry with and existing expertise
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Diversification
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a firm's investment in a different product, business, or geographicarea; expand
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Merger
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one or more companies combining with another; keeps brand
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Acquisition
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one firm buying another
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Divesture
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a firm selling one or more businesses
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Prospectors
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companies that continuously change the boundaries for their taskenvironments by seeking new products and markets, diversifying and merging, oracquiring new enterprises; aka movers & shakers
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Defenders
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companies that stay within a stable product domain as a strategicmaneuver
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Cooperative Strategies
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strategies used by two or more organizations working together to managethe external environment
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Empowerment
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the process of sharing power with employees, thereby enhancing theirconfidence in their ability to perform their jobs and their belief that theyare influential contributors to the organization
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Buffering
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creating supplies in excess resources in case of unpredictableneeds; ex. Lowe's stocking up on shovels and heaters when it snows inMississippi
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Smoothing
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leveling normal fluctuations atthe boundaries of the environment
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Flexible Processes
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methods for adapting the technical core to changes in the environment;customize products for the customers; ex. When you order at a restaurant, youcan customize your order
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Organization Culture
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the set of important assumptions about the organization and its goalsand practices that members of the company share
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4 Way to Diagnose the Culture
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1. Corporate missionstatements and goals 2. Business practices 3. Symbols, rites, and ceremonies 4. The stories people tell |
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Organizational Climate
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the patterns of attitudes and behavior that shape people'sexperience of an organization
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Programmed Decisions
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decisions encountered and made before, having objectively correctanswers, and solvable by using simple rules, policies, or numericalcomputations; easy, already prepared for o Diagnose
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Nonprogrammed Decisions
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new, novel, complex decisions having no proven answers; difficultdecisions to make, must find new answers
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Certainty
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the state that exists when decision makers have accurate andcomprehensive information
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Uncertainty
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the state that exists whendecision makers have insufficient information
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Risk
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the state that exists when the probability of success is less than 100percent and losses may occur
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Conflict
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opposing pressures from different sources, occurring on thelevel of psychological conflict or conflict between individuals and groups
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Maximizing
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a decision realizing the best possible outcome
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Satisficing
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choosing an option that is acceptable, although not necessarily the bestor perfect
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Optimizing
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achieving the best possible balance among SEVERAL goals
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Vigilance
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a process in which a decision maker carefully executes all stages ofdecision making
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Illusion of Control
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people's belief that they can influence events even when they have nocontrol over what will happen; ex. Gambling, carrying around a rabbit's foot
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Framing Effects
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a decision bias influenced by the way in which a problem or decisionalternative is phrased or presented
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Discounting the Future
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a bias weighting short-term costs and benefits more heavily thanlong-term costs and benefits; ex. Students who wait last minute to studyfor a test
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Time Pressures
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may be too quick to make a decision and unable to take the time toconsider
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Social Realities
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the result of intensive social interactions, bargaining, and politickingex. Scandal
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Groupthink
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a phenomenon that occurs in decision making when group members avoiddisagreement as they strive for consensus
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Goal Displacement
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a decision-making group loses sight of its original goal and a new, lessimportant goal emerges
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Social Loafing
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when members of a group do not feel their contribution is important,they respond by working less hard
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Affective Conflict
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emotionaldisagreement directed toward other people; positive |
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Cognitive Conflict |
issue-based differences in perspectives or judgements; negative
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Devil's Advocate
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a person who has the job of criticizing ideas to ensure that theirdownsides are fully explored
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Dialectic
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alternative to Devil's Advocate; a structured debate comparing twoconflicting courses of action
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Bounded Rationality
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a less-than-perfect form of rationality in which decision makers cannotbe perfectly rational because decisions are complex and complete information isunavailable or cannot be fully processed
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Incremental Model
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model of organizational decision making in which major solutions arisethrough a series of smaller decisions
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Coalitional Model
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model of organizational decision making in which groups with differingpreferences use power and negotiation to influence decisions
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Garbage Can Model
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model of organizational decision making depicting a chaotic process andseemingly random decisions
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Crisis Management
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when something bad happens, people are in place to take care of thecrisis
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