Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
397 Cards in this Set
- Front
- Back
|
Organization |
a group of people who work together to achieve some specific purpose |
|
|
Management |
(1) the pursuit of organizational goals efficiently and effectively by (2) integrating the work of people through (3) planning, organizing, leading, and controlling the organization's resources |
|
|
Efficient |
to use resources-people, money, raw materials, and the like-wisely and cost-effectively |
|
|
Effective |
to achieve results, to make the right decisions, and to successfully carry them out so that they achieve the organization's goals |
|
|
Competitive advantage |
the ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them. |
|
|
Innovation |
finding ways to deliver new or better goods or services |
|
|
Internet |
the global network of independently operating but interconnected computers, linking hundreds of thousands of smaller networks around the world |
|
|
e-commerce |
or electronic commerce-the buying or selling of goods or services over computer networks |
|
|
e-business |
using the internet to facilitate every aspect of running a business |
|
|
|
text-messages and documents transmitted over a computer network |
|
|
Project Management Software |
programs for planning and scheduling the people, costs, and resources to complete a project on time. |
|
|
Databases |
computerized collections of interrelated files |
|
|
telecommute |
work from home or remote locations using a variety of information technologies |
|
|
Videoconferencing |
using video and audio links along with computers to let people in different locations see, hear, and talk with one another. |
|
|
collaborative computing |
using state-of-the-art computer software and hardware, will help people work better together. |
|
|
Knowledge management |
implementing of systems and practices to increase the sharing of knowledge and information throughout an organization |
|
|
Sustainability |
economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs |
|
|
management process ( four management functions) |
planning, organizing, leading, and controlling |
|
|
Planning |
defined as setting goals and deciding how to achieve them |
|
|
Organizing |
arranging tasks, people, and other resources to accomplish the work |
|
|
Leading |
motivating, directing, and otherwise influencing people to work hard to achieve the organization's goals. |
|
|
Controlling |
monitoring performance, comparing it with goals, and taking corrective action as needed. |
|
|
Top managers |
make long-term decisions about the overall direction of the organization and establish the objectives, policies, and strategies for it. |
|
|
Middle managers |
implement the policies and plans of the top managers above them and supervise and coordinate the activities of the first-line managers below them. |
|
|
first-line managers |
make short-term operating decisions, directing the daily tasks of nonmanagerial personnel. |
|
|
Functional manager |
responsible for just one organizational activity |
|
|
General manager |
is responsible for several organizational activities |
|
|
interpersonal roles |
managers interact with people inside and outside their work units |
|
|
Informational roles |
managers receive and communicate information |
|
|
Decisional Roles |
managers use information to make decisions to solve problems or take advantage of opportunities. |
|
|
Entrepreneurship |
the process of taking risks to try to create a new enterprise. |
|
|
entrepreneur |
someone who sees a new opportunity for a product or service and launches a business to try to realize it. |
|
|
intraprenaeur |
someone who works inside an existing organization who sees an opportunity for a product or service and mobilizes the organizations's resources to try to realize it. |
|
|
Internal locus of control |
the belief that you control your own destiny |
|
|
Technical skills |
consist of the job-specific knowledge needed to perform well in a specialized field |
|
|
Conceptual skills |
consist of the ability to think analytically, to visualize an organization as a whole and understand how the parts work together. |
|
|
Human Skills |
consist of the ability to work well in cooperation with other people to get things done |
|
|
Evidence-based management |
translating principles based on best evidence into organizational practice, bringing rationality to the decision-making process. |
|
|
historical perspective |
includes three viewpoints-classical, behavioral, and quantitative. |
|
|
Contemporary perspective |
Includes three viewpoints-systems, contingency, and quality-management |
|
|
Classical viewpoint |
emphasized finding ways to manage work more efficiently, had two branches-scientific and administrative |
|
|
Scientific management |
emphasized the scientific study of work methods to improve the productivity of individual workers. |
|
|
Administrative management |
concerned with managing the total organization |
|
|
behavioral viewpoint |
emphasized the importance of understanding human behavior and of motivating employees toward achievement. |
|
|
human relations movement |
which proposed that better human relations could increase worker productivity |
|
|
behavioral science |
relies on scientific research for developing theories and bout human behavior that can be used to provide practical tools for managers |
|
|
quantitiative management |
the application to management of quantitative techniques, such as statistics and computer simulations. Two branches of quantitative management are management science and operations management. |
|
|
Management science |
focuses on using mathematics to aid in problem solving and decision making. |
|
|
System |
a set of interrelated parts that operate together to achieve a common purpose |
|
|
systems viewpoint |
regards the organization as a system of interrelated parts |
|
|
Subsystems |
parts making up the whole system |
|
|
Inputs |
the people, money, information, equipment, and materials required to produce an organization's goods or services. |
|
|
Transformation processes |
the organization's capabilities in management, internal processes, and technology that are applied to converting inputs into outputs. |
|
|
Outputs |
the products, services, profits, losses, employee satisfaction or discontent, and the like that are produced by the organization |
|
|
Feedback |
information about the reaction of the environment to the outputs that affects the inputs |
|
|
open system |
continually interacts with its environment |
|
|
Closed system |
little interaction with its environment |
|
|
Complexity theory |
study of how order and pattern arise from very complicated, apparently chaotic systems |
|
|
Contingency viewpoint |
emphasizes that a manager's approach should vary according to-that is, be contingent on-the individual and the environmental situation |
|
|
Quality-management viewpoint |
includes quality control, quality assurance, and total quality management |
|
|
Quality |
refers to the total ability of a product or service to meet customer needs |
|
|
Quality Control |
the strategy for minimizing errors by managing each stage of production |
|
|
Quality assurance |
focuses on the performance of workers, urging employees to strive for "zero defects." |
|
|
Total quality management (TQM) |
a comprehensive approach-led by top management and supported throughout the organization-dedicated to continuous quality improvement, training, and customer satisfaction |
|
|
Learning organization |
an organization that actively creates, aquires, and transfers knowledge within itself and is able to modify its behavior to reflect new knowledge. |
|
|
Stakeholders |
the people whose interests are affected by an organization's activites |
|
|
Internal stakeholders |
consist of employees, owners, and the board of directors, if any. |
|
|
owners |
an organization consist of all those who can claim it as their legal property |
|
|
external stakeholders |
people or groups in the organization's external environment that are affected by it. |
|
|
Task environment |
consists of 11 groups that present you with daily tasks to handle: customers, competitors, suppliers, distributors, strategic allies, employee organizations, local communities, financial institutions, government regulators, special-interest groups, and mass media. |
|
|
Customers |
those who pay to use an organization's goods or services |
|
|
competitors |
people or organizations that compete for customers or resources |
|
|
Supplier |
a person or an organization that provides supplies-that is, raw materials, services, equipment, labor, or energy-to other organizations. |
|
|
Distributors |
a person or an organization that helps another organization sell its goods and services to customers. |
|
|
Strategic allies |
the relationship of two organizations that join forces to achieve advantages neither can perform as well alone. |
|
|
Clawbacks |
rescinding the tax breaks when firms don't deliver promised jobs? |
|
|
Government regulators |
regulatory agencies that establish ground rules under which organizations may operate |
|
|
Special-interest groups |
groups whose members try to influence specific issues |
|
|
General environment (microenvironment) |
includes six forces: economic, technological, sociocultural, demographic, political-legal, and international |
|
|
Economic forces |
consist of the general economic conditions and trends- unemployment, inflation, interest rates, economic growth-that may affect an organization's performance |
|
|
Technological forces |
new developments in methods for transforming resources into goods or services |
|
|
Socio-cultural forces |
influences and trends originating in the country's, a society's, or a culture's human relationships and values that may affect an organanization. |
|
|
Demographic forces |
influences on an organization arising from changes in the characteristics of a population , such as age, gender, or ethnic origin |
|
|
Political-legal forces |
changes in the way politics shape laws and laws shape the opportunities for and threats to an organization. |
|
|
International forces |
changes in the economic, political, legal , and technological global system that may affect an organization. |
|
|
Ethical delemma |
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. |
|
|
Ethics |
the standards of right and wrong that influence behavior. |
|
|
Ethical behavior |
behavior that is accepted as "right" as opposed to "wrong" according to those standards. |
|
|
Value system |
the pattern of values within an organization. |
|
|
Values |
the relatively permanent and deeply held underlying beliefs and attitudes that help determine a person's behavior. |
|
|
Utilitarian approach |
guided by what will result in the greatest good for the greatest number of people. |
|
|
Individual approach |
guided by what will result in the individual's best long-term interests, which ultimately are in everyone's self-interest |
|
|
Moral-rights approach |
guided by respect for the fundamental rights of human beings |
|
|
justice approach |
guided by respect for impartial standards of fairness and equity |
|
|
Insider trading |
illegal trading of a company's stock by people using confidential company information |
|
|
Ponzi scheme |
using cash from newer investors to pay off older ones |
|
|
Sarbanes-Oxley Act of 2002 |
established requirements for proper financial record keeping for public companies and penalties of a much as 25 years in prison for noncompliance. |
|
|
Ethical Climate |
represents employees' perceptions about the extent to which work environments support ethical behavior. |
|
|
Code of ethics |
consists of a formal written set of ethical standards guiding an organization's actions. |
|
|
whistle-blower |
an employee who reports organizational misconduct to the public |
|
|
social responsibility |
a manager's duty to take actions that will benefit the interests of society as well as of the organization. |
|
|
Corporate social responsibility (CSR) |
the notion that corporations are expected to go above and beyond following the law and making a profit. |
|
|
Philanthropy |
making charitable donations to benefit humankind |
|
|
Coporate governance |
the system of governing a company so that the interests of corporate owners and other stakeholders are protected. |
|
|
globalization |
the trend of the world economy toward becoming a more interdependent system |
|
|
global village |
the "shrinking" of time and space as air travel and the electronic media have made it easier for the people around the globe to communicate with one another. |
|
|
e-commerce |
or electronic commerce, the buying and selling of products and services through computer networks. |
|
|
global economy |
refers to the increasing tendency of the economies of the world to interact with one another as one market instead of many national markets. |
|
|
Multinational corporation |
or multinational enterprise, is a business firm with operations in several countries |
|
|
Multinational organization |
a nonprofit organization with operations in several countries. |
|
|
Ethnocentric managers |
believe that their native country, culture, language, and behavior are superior to all others |
|
|
parochialism |
a narrow view in which people see things solely through their own perspective. |
|
|
Polycentric managers |
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. |
|
|
Geocentric managers |
accept that there are differences and similarities between home and foreign personnel and practices and that they should use whatever techniques are most effective. |
|
|
maquiladoras |
manufacturing plants allowed to operate in Mexico with special privileges in return for employing Mexican citizens. |
|
|
Outsourcing |
using suppliers outside the company to prove goods and services. |
|
|
Glaboal ousources |
or offshoring, is fdefined as using suppliers outside the United States to prove labor, goods, or services. |
|
|
Importing |
a company buys goods outside the country and resells them domestically. |
|
|
Exporting |
a company produces goods domestically and sells them outside the country. |
|
|
Countertrading |
bartering goods for goods |
|
|
Licensing |
a company allows a foreign company to pay it a fee to make or distribute the first company's product or service. |
|
|
Franchising |
a form of licensing in which a company allow s a foreign company to pay it a fee and share of the profit in return for using the first company's brand name and a package of material and services. |
|
|
Joint venture |
also know as a strategic alliance, with a foreign company to share the risks and rewards of starting a new enterprise together in a foreign country. |
|
|
Wholly owned subsidiary |
a foreign subsidiary that is totally owned and controlled by an organization |
|
|
Greenfield venture |
a foreign subsidiary that the owning organization has built from scratch |
|
|
free trade |
the movement of goods and services among nations without political or economic obstruction. |
|
|
trade protectionism |
the use of government regulations to limit the import of goods and services. |
|
|
tariff |
a trade barrier in the form of a customs duty, or tax, levied mainly on imports |
|
|
Import quota |
a trade barrier in the form of a limit on the numbers of a product that can be imported |
|
|
dumping |
the practice of a foreign company's 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. |
|
|
Embargo |
a complete ban on the import or export of certain products. |
|
|
World Trade Organization (WTO) |
designed to monitor and enforce trade agreements |
|
|
World Bank |
provide low-interest loans to developing nations for improving transportation, education, health, and telecommunications. |
|
|
International Monetary Fund (IMF) |
designed to assist in smoothing th flow of money between nations. |
|
|
trading bloc |
also known as an economic community, is a group of nations within a geographical region that have agreed to remove trade barriers with one another. |
|
|
North American Free Trade Agreement (NAFTA) |
a trading bloc consisting of the United States, Canada, and Mexico. |
|
|
European Union (EU) |
consists of 27 trading partners in Europe |
|
|
Exchange rate |
the rate at which the currency of one area or country can be exchanged for the currency of another's |
|
|
Asia-Pacific Economic Cooperation (APEC) |
a group of 21 Pacific Rim countries whose purpose is to improve economic and political ties |
|
|
Association of Southeast Asian Nations (ASEAN) |
a trading bloc consisting of 11 countries in Asia |
|
|
Mercosur |
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 the other countries- and five associate members: Bolivia, Chile, Colombia, Ecuador, and Peru. |
|
|
Central America Free Trade Agreement (CAFTA-DR) |
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. |
|
|
Most favored nation |
trading status describes a condition in which a country grands other countries favorable trading treatment such as the reduction of import duties. |
|
|
Culture |
the shared set of beliefs, values, knowledge, and patterns of behavior common to a group of people. |
|
|
Low-context culture |
shared meanings are primarily derived from written and spoken words. |
|
|
High-context culture |
people rely heavily on situational cues for meaning when communication with others. |
|
|
GLOBE project |
a massive and ongoing cross-cultural investigation of nine cultural dimensions involved in leadership and organization processes. |
|
|
Monochronic time |
a preference for doing one thing at a time |
|
|
Polychronic time |
a preference for doing more than one thing at a time. |
|
|
expatriates |
people living or working in a foreign country. |
|
|
planning |
setting goals and deciding how to achieve them. coping with uncertainty by formulating future courses of action to achieve specified results. |
|
|
Defenders |
expert at producing and selling narrowly defined products or services |
|
|
Prospectors |
focus on developing new products or services and in seeking out new markets, rather than waiting for things to happen. |
|
|
Analyzers |
let other organizations take the risks of product developement and marketing and the imitate (or perhaps slightly improve on) what seems to work best. |
|
|
Reactors |
make adjustments only when finally forced to by environmental prssures |
|
|
Mission |
its purpose or reason for being. |
|
|
mission statement |
which expresses the purpose of the organization. |
|
|
vision |
a long-term goal describing "what" an organization whats to become. It is a clear sense of the future and the actions needed to get there. |
|
|
Vision statement |
expresses what the organization should become, where it wants to go strategically. |
|
|
Strategic planning |
determine what the organization's long-term goals should be for the next 1-5 years with the resources they expect to have available. |
|
|
Tactical planning |
they determine what contributions their departments or similar work units can make with their given resources during the next 6-24 months |
|
|
Operational planning |
they determine how to accomplish specific tasks with available resources within the next 1-52 weeks. |
|
|
Goal |
or objective, is a specific commitment to achieve a measrable result within a state period of time |
|
|
Means-end chain |
because in the chain of management (operation, tactical, strategic) the accomplishment of low-level goals is the means leading to the accomplishments of high-level goals or ends. |
|
|
Strategic goals |
set by and for top management and focus on objectives for the organization as a whole |
|
|
Tactical goals |
are set by and for middle managers and focus on the actions needed to achieve strategic goals |
|
|
Operational goals |
are set by and for first-line managers and are concerned with short-term matter associated with realizing tactical goals |
|
|
Action plan |
the course of action needed to achieve the stated goal |
|
|
Operating plan |
designed for a 1-year period, defines how you will conduct your business based on the action plan; it identifies clear targets such as revenues, cash flow, and market share. |
|
|
Standing plans |
plans developed for activities that occur repeatedly over a period of time |
|
|
Policy |
a standing plan that outlines the general response to a designated problem or situation |
|
|
procedure |
or standard operating procedure is a standing plan that outlines the response to particular problems or cirumstances |
|
|
Rule |
Standing plan that designates specific required action |
|
|
Single-use plans |
plans developed for activities that are not likely to be repeated in the future |
|
|
Program |
a single-use plan encompassing a range of projects or activities |
|
|
Project |
a single-use plan of less scope and complexity than a program |
|
|
SMART goal |
one that is Specific, Measurable, Attainable, Results-oriented, and has Target dates |
|
|
Management by objectives (MBO) |
a four-step process in which (1) managers and employees jointly set objectives for the employee (2) managers develop action plans (3) managers and employees periodically review the employee's performance and (4) the manger makes a performance appraisal and rewards the employee according to results. |
|
|
Cascading |
objectives down through the organization; that is, objectives are structured in a unified hierarchy, becoming more specific at lower levels of the organization. |
|
|
Planning/control cycle |
Two planning steps (1 and 2) and two control steps (3 and 4), as follows: (1) Make the plan. (2) Carry out the plan. (3) Control the direction by comparing results with the plan. (4) Control the direction by taking corrective action in tow ways- namely (a) by correcting deviations in the plan carried out or (b) by improving future plans |
|
|
Business plan |
a document that outlines a proposed firm's goals, the strategy for achieving them, and the standards for measuring success. |
|
|
Strategy |
is a large-scale action plan that sets the direction for an organization |
|
|
Strategic management |
A process that involves managers from all parts of the organization in the formulation and the implementation of strategies and strategic goals |
|
|
Strategic positioning |
attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company |
|
|
Grand Strategy |
after an assessment of current organizational performance, then explains how the organization's mission is to be accomplished |
|
|
Growth strategy |
a grand strategy that involves expansion- as in sales revenues, market share, number of employees, or number of customers or (for nonprofits) clients served. |
|
|
Stability strategy |
a grand strategy that involves little or no significant change |
|
|
defensive strategy |
or a retrenchment strategy, is a grand strategy that involves reduction in the organization's efforts. |
|
|
Strategy formulation |
the process of choosing among different strategies and altering them to best fit the organization's needs. |
|
|
Strategy Implementation |
Putting strategic plans into effect |
|
|
Strategic control |
consists of monitoring the execution of strategy and making adjustments, if necessary. |
|
|
Competitive intellignence |
gaining information about one's competitors' activity can anticipate their moves and react appropriately. |
|
|
Environmental scanning |
careful monitoring of an organization's internal and external environments to detect early signs of opportunities and threats that may influence the firm's plans. |
|
|
SWOT analysis |
also known as a situational analysis-which is a search for the Strengths, Weaknesses, Opportunities, and Threats affecting the Organization. |
|
|
Organizational strengths |
the skills and capabilities that give the organization special competencies and competitive advantages in executing strategies in pursuit of its mission. |
|
|
Organizational weaknesses |
the drawbacks that hinder an organization in executing strategies in pursuit of its mission |
|
|
Organizational opportunities |
environmental factors that the organization may exploit for competitive advantage |
|
|
Organizational threats |
environmental factors that hinder an organization's achieving a competitive advantage. |
|
|
Forcast |
a vision or projection of the future |
|
|
Trend analysis |
a hypothetical extension of a past series of events into the future. |
|
|
Contingency planning |
also knows as scenario planning and scenario analysis is the creation of alternative hypothetical but equally likely future conditions. |
|
|
Porter's model for industry analysis |
business-level strategies originate in five primary competitive forces in the firm's envionment: (1) threats of new entrants, (2) bargaining power of suppliers, (3) bargaining power of buyers, (4) threats of substitute products or services, and (5) rivalry among competitiors |
|
|
Porter's four cometitive strategies |
also call four generic strategies are (1) cost-leadership, (2) differentiation, (3) cost-focus, and (4) focused-differentiation. |
|
|
Cost-leadership strategy |
to keep the costs,, and hence prices, of a product or service below those of competitors and to target a wide market |
|
|
Differentiation strategy |
to offer products or services that are of unique and superior value compared with those of competitors but to target a wide market |
|
|
Cost-focus strategy |
to keep the costs, and hence prices, of a product or service below those of competitors and to target a narrow market. |
|
|
Focused-differentiation strategy |
to offer products or services that are of unique and superior value compared to those of competitors and to target a narrow market |
|
|
Single-product strategy |
a company makes and sells only one product within its market. |
|
|
diversification |
operating several businesses in order to spread the risk |
|
|
Unrelated diversification |
operating several businesses under one ownership that are not related to one another |
|
|
Related diversification |
which an organization under one ownership operates separate businesses that are related to one another. |
|
|
Symergy |
the economic value of separate, related businesses under one ownership and management is greater together than the businesses are worth seperately. |
|
|
BCG matrix |
a means of evaluating strategic business units on the basis of (1) their business growth rates and (2) their share of the market. |
|
|
Execution |
is not simply tactics, it is a central part of any company's strategy It consts of using questioning, analysis, and follow through to mesh strategy with reality, align people with goals, and achieve the results promised |
|
|
Decision |
a choice made from among available alternatives |
|
|
Decision making |
the process of identifying and choosing alternative courses of action. |
|
|
Rational model of decision making |
also called the classical model, explains how managers should make decisions; it assumes managers will make logical decisions that will be the optimum in furthering the organization's best interests. |
|
|
problems |
or difficulties that inhibit the achievement of goals |
|
|
Opportunities |
situations that present possiblilities for exceeding existing goals |
|
|
Diagnosis |
analyzing the underlying causes |
|
|
Nonrational models of decion making |
explain how managers make decisions; they assume that decision making is nearly always uncertain and risky, making it difficult for managers to make optimal decisions. |
|
|
bounded rationality |
the concept suggests that the ability of decision makers to be rational is limited by numerous contraints. |
|
|
satisficing model |
managers seek alternatives until they find one that is satisfactory, not optimal |
|
|
Incremental model |
which managers take small, short-term steps to alleviate a problem. |
|
|
Intuition |
making a choice without the use of conscious thought or logical inference |
|
|
Analytics |
or business analytics, the term used for sophisticated forms of business data analysis |
|
|
Predictive modeling |
a data-mining technique used to predict future behavior and anticipate the consequences of change. |
|
|
Risk propensity |
the willingness to gamble or to undertake risk for the possibility of gaining an increased payoff |
|
|
Decision making style |
reflects the combination of how an individual perceives and responds to information |
|
|
ethics officer |
someone trained about matters of ethics in the workplace, particularly about resolving ethical dilemmas. |
|
|
decision tree |
a graph of decisions and their possible consequences; it is used to create a plan to reach a goal |
|
|
relaxed avoidance |
a manager decides to take no action in the belief that there will be no great negative consequences. |
|
|
Relaxed change |
a manager realizes that complete inaction will have negative consequences but opts for the first available alternative that involves low risk |
|
|
defensive avoidance |
a manager can't find a good solution and follows by (a) procrastinating, (b) passing the buck, or (c) denying the risk of any negative consequences. |
|
|
panic |
a manager is so frantic to get rid of the problem that he or she can't deal with the situation realistically. |
|
|
deciding to decide |
a manager agrees that he or she must decide what to do about a problem or opportunity and take effective decision-making steps |
|
|
heuristics |
strategies that simplify the process fo making decisions |
|
|
availability bias |
managers use information readily available from memory to make judgements |
|
|
representativeness bias |
the tendency to generalize from a small sample or a single event |
|
|
confirmation bias |
when people seek information to support their point of view and discount data that do not. |
|
|
sunk-cost fallacy |
when managers add up all the money already spent on a project and conclude it is too costly to simply abandon it. |
|
|
anchoring and adjustment bias |
the tendency to make decisions based on an initial figure |
|
|
overconfidence bias |
the bias in which people's subjective confidence in their decision making is greater than their objective accuracy |
|
|
Hindsight bias |
the tendency of people to view events as being more predictable than they really are |
|
|
framing bias |
the tendency of decision makers to be influenced by the way a situation or problem is presented to them. |
|
|
Escalation of commitment bias |
decision makers increase their commitment to a project despite negative information about it. |
|
|
Groupthing |
occurs when group members strive to agree for the sake of unanimity and thus avoid accurately assessing the decision situation. |
|
|
Goal displacement |
occurs when the primary goal is subsumed by a secondary goal. |
|
|
participative management (PM) |
the process of involving employees in (a) setting goals, (b) making decisions, (c) solving problems, and (d) making changes in the organization |
|
|
Consensus |
which occurs when members are able to express their opinions and reach agreement to support the final decision. |
|
|
Brainstorming |
a technique used to help groups generate multiple ideas and alternatives for solving problems. |
|
|
Electronic brainstorming |
sometimes called brainwriting, in which members of a group come together over a computer network to generate ideas and alternatives |
|
|
Delphi technique |
a group process that uses physically dispersed experts who fill out questionnaires to anonymously generate ideas; the judgments are combined and in effect averaged to achieve a consensus of expert opinions. |
|
|
Organizational culture |
sometimes called corporate culture, is a system of shared beliefs and values that develops within an organization and guides the behavior of its members |
|
|
Organizational structure |
is a formal system of task and reporting relationships that coordinates and motivate an organization's members so that they can work together to achieve the organization's goals. |
|
|
Clan culture |
has an internal focus and values flexibility rather than stability and control. |
|
|
Adhocracy culture |
an external focus and values flexibility |
|
|
market culture |
a strong external focus and values stability and control |
|
|
hierarchy culture |
an internal focus and values stability and control over flexibility |
|
|
Espoused values |
the explicitly stated values and norms preferred by an organization |
|
|
enacted values |
which represent the values and norms actually exhibited in the organization |
|
|
Symbol |
an object, act, quality, or event that conveys meaning to others |
|
|
Story |
a narrative based on true events, which is repeated-and sometimes embellished upon-to emphasize a particular value |
|
|
Hero |
a person whose accomplishments embody the values of the organization |
|
|
Rites and rituals |
the activities and ceremonies, planned and unplanned, that celebrate important occasions and accomplishments in the organization's life. |
|
|
Strength perspective |
assumes that the strength of a corporate culture is related to a firm's long-term financial performance |
|
|
Fit perspective |
assumes that an organization's culture must align, or fit, with its business or strategic context |
|
|
Adaptive perspective |
assumes that the most effective cultures help organizations anticipate and adapt to environmental changes |
|
|
Organization |
a system of consciously coordinated activities or forces of two or more peoploe |
|
|
Organization chart |
a box-and -lines illustration showing the formal lines of authority and the organization's official positions or work specializations. |
|
|
Common purpose |
unifies employees or members and gives everyone an understanding of the organization's reason for being. |
|
|
Coordinated effort |
the coordination of individual efforts into a group or organizationwide effort. |
|
|
Division of labor |
also known as work specialization, is the arrangement of having discrete parts of a task done by different people |
|
|
hierarchy of authority |
or chain of command, is a control mechanism for making sure the right people do the right things at the right time. |
|
|
Unity of command |
in which an employee should report to no more than one manager |
|
|
Span of control |
or span of management, refers to the number of people reporting directly to a given manager. |
|
|
Authority |
refers to the rights inherent in a managerial position to make decisions, give orders, and utilize resources. |
|
|
Accountability |
managers must report and justify work results to the managers above them. |
|
|
Responsibility |
the obligation you have to perform the tasks assigned to you |
|
|
Delegation |
the process of assigning managerial authority and responsibility to managers and employees lower in the hierarchy. |
|
|
Line managers |
have authority to make decisions and usually have people reporting to them |
|
|
Staff personnel |
have authority functions; they prove advice, recommendations, and research to line managers |
|
|
Centralized authority |
important decisions are made by higher-level managers. |
|
|
decentralized authority |
important decisions are made by middle-level and supervisory-level managers. |
|
|
Organizational design |
concerned with designing the optimal structures of accountability and responsibility that an organization uses to execute its strategies |
|
|
Simple structure |
has authority centralized in a single person, a flat hierarchy, few rules, and low work specialization. |
|
|
Functional structure |
people with similar occupational specialties are put together in formal groups |
|
|
Divisional structure |
people with diverse occupational specialties are put together in formal groups by similar products or services, customers or clients, or geographic regions |
|
|
Product divisions |
group activities around similar products or services |
|
|
Customer divisions |
tied to group activities around common customers or clients |
|
|
Geographic divisions |
group activities around defined regional locations |
|
|
matrix structure |
an organization combines functional and divisional chains of command in a grid so that there are two command structures-vertical and horizontal. |
|
|
horizontal design |
teams or workgroups, either temporary or permanent, are used to improve collaboration and work on shard tasks by breaking down internal boundaries. |
|
|
Boundaryless organization |
is a fluid, highly adaptive organization whose members, linked by information technology, come together to collaborate on common tasks. The collaborators may include not only coworkers but also suppliers, customers, and even competitiors. |
|
|
hollow structure |
often called the network structure. The organization has a central core of key functions and outsources other functions to vendors who can do them cheaper or faster |
|
|
Modular structure |
a firm assembled product chunks, or modules, provided by outside contractors |
|
|
Virtual organization |
an organization whose members are geographically apart, usually working with e-mail, collaborative computing, and other computer connections |
|
|
Virtual structure |
A company outside a company that is created "specifically to respond to an exceptional market opportunity that is often temporary" |
|
|
Contingency design |
the process of fitting the organization to its environment |
|
|
Mechanistic Organization |
authority is centralized, tasks and rules are clearly specified, and employees are closely supervised. |
|
|
Organic organization |
authority is decentralized, there are fewer rules and procedures, and networks of employees are encouraged to cooperate and respond quickly to unexpected tasks. |
|
|
Differentiation |
the tendency of the parts of an organization to disperse and fragment |
|
|
Integration |
the tendency of the parts of an organization to draw together to achieve a common purpose |
|
|
Organizational life cycle |
a natural sequence of stages: birth, youth, midlife, and maturity |
|
|
Birth Stage |
the nonbureaucratic stage, the stage in which the organization is created. |
|
|
Youth stage |
the organization is in a prebureaucratic stage, a stage of growth and expansion. |
|
|
Midlife stage |
the organization becomes bureaucratic, a period of growth evolving into stability. |
|
|
Maturity stage |
the organization becomes very bureaucratic, large, and mechanistic. |
|
|
1) Managing for Competitive Advantage 2) Managing for Diversity 3) Managing for Globalization 4) Managing for Information Technology 5) Managing for Ethical Standards 6) Managing for Sustainability 7) Managing for Your own happiness and life goals |
What are the seven challenges to being an exceptional manager? |
|
|
1) Being responsive to customers 2) Innovation 3) Quality 4) Efficiency |
An organization must stay ahead in what four areas? |
|
|
1) Planning 2) Organizing 3) Leading 4) Controlling |
What are the Four Principle Functions? |
|
|
1) Top Managers 2) Middle Managers 3) First-line Managers |
What are the three levels of management? |
|
|
1) Functional Managers 2) General Managers
|
What are the two areas of managers? |
|
|
1) For-Profit- Making Money 2) Non Profit- Offering services 3) Mutual Benefit- Aiding Members |
What are the three types of Organizations? |
|
|
1) A Manager Relies More on Verbal Than on Written Communication 2) A Manager Works Long Hours at an Intense Pace 3) A Manager's Work is Characterized by Fragmentation, Brevity, and Variety |
What are the three Mintzberg's findings? |
|
|
1) Interpersonal Roles 2) Information Roles 3) Decisional Roles |
What are the three types of Managerial Roles? |
|
|
1) Technical Skills 2) Conceptual Skills 3) Human Skills |
What are the three principal skills that Robert Katz said that managers needed to aquire? |
|
|
Scientific Management |
What type of management was pioneered by Taylor and the Gilbreths? |
|
|
1) Evaluate a task by scientifically studying each part of the task 2) Carefully select workers with the right abilities for the task 3) Give workers the training and incentives to do the task with the proper work methods 4) Use scientific principles to plan the work mods and ease the way for workers to do their jobs |
What are the Four Principles of Scientific Management? |
|
|
1) Scientific 2) Administrative |
What viewpoints are under classical viewpoint? |
|
|
Administrative viewpoint |
What method did Henri Fayol and Max Weber pioneer? |
|
|
1) A well-defined hierarchy of authority 2) Formal rules and procedures 3) A clear division of labor, with parts of a complex job being handled by specialists 4) Impersonality, without reference or connection to a particular person 5) Career based on merit |
What are the five positive bureaucratic features according to Max Weber? |
|
|
Behavioral Viewpoint |
What viewpoint was pioneered by Munsterberg, Follet, and Mayo? |
|
|
Hawthorne Effect |
What test tested whether workplace lighting level affected worker productivity but was considered flawed? |
|
|
Human Relations Movement |
What movement did Maslow and McGregor pioneeer? |
|
|
Theory X versus Theory Y |
What was Douglas McGregor's Test called? |
|
|
Theory X |
Which theory is more likely to micromanage, which leads to employee dissatisfaction, because they believe employees are inherently lazy? |
|
|
Theory Y |
Which theory represents the outlook of an optimistic, positive view of workers. Workers are considered to be capable of accepting responsibility, self-direction, and self-control and of being imaginative and creative? |
|
|
Operations Management |
Which form of management focuses on managing the production and delivery of an organization's products or serves more effectively? |
|
|
1) Input 2) Transformation processes 3) Outputs 4) Feedback |
What are the four parts of a system? |
|
|
Open and Closed systems |
What are the two types of systems? |
|
|
Contingency Viewpoint |
Which viewpoint did Gary Hamel pioneer? |
|
|
Total Quality Management |
What type of management is goaled toward creating an organization dedicated to continuous improvement? |
|
|
Total Quality Management |
What type of viewpoint did W. Edwards Deming and Joseph M. Juran pioneer? |
|
|
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. |
What are the four components of Total Quality Management (TQM)? |
|
|
Learning Organization |
What organization did Peter Senge coin? |
|
|
1) Creating and acquiring knowledge 2) Transferring knowledge 3) Modifying behavior |
What are the three parts of Learning Organization? |
|
|
1) You can build a commitment to learning 2) You can work to generate ideas with impact 3) You can work to generalize ideas with impact |
Managers must perform three key functions or roles to create a learning organization. What are they? |
|
|
1) Employees 2) Owners 3) Board of Directors |
Who are considered Internal Stakeholders? |
|
|
1) Task Environment 2) General Environment |
What two groups are external stakeholders? |
|
|
Task Environment |
Customers, Competitors, Suppliers, Distributors, Strategic Allies, Employee Organizations: Unions and Associations, Local Communities, Financial Institutions, Government Regulators, Special-Interest groups and Mass Media are in what part of external stakeholders? |
|
|
General Environment |
Economic forces, Technological Forces, Sociocultural Forces, Demographic Forces, Political-Legal Forces and International Forces are in what part of external stakeholders? |
|
|
1) The Utilitarian Approach 2) Individual Approach 3) Moral-Rights Approach 4) Justice Approach |
What are the four approaches to deciding ethical delemmas? |
|
|
1) Level 1 : preconventional- follow rules 2) Level 2: Conventional- follows expectations of others 3) Postconventional: guided by internal values |
What are Laurence Kohlberg's three levels of personal moral development? |
|
|
1) Creating a Strong Ethical Climate 2) Screening Prospective Employees 3) Instituting Ethics Codes and Training Programs 4) Rewarding Ethical Behavior |
How can an organization promote high ethical standards on the job? |
|
|
1) Availability of Supplies 2) New Markets 3) Lower Labor Costs 4) Access to Finance Capital 5) Avoidance of Tariffs and Import Quotas |
Why do companies expand internationally? |
|
|
1) Global Outsourcing 2) Importing, Exporting, and Countertrading 3) Licensing and Franchising 4) Joint Ventures 5) Wholly Owned Subsidaries |
What are the five ways to expand internationally? |
|
|
1) Tariffs 2) Import Quotas 3) Embargoes |
What are the three devices by which countries try to exert protectionism? |
|
|
1) The World Trade Organization (WTO) 2) The World Bank 3) The International Monetary Fund (IMF) |
What are the three principal organizations designed to facilitate international trade? |
|
|
Trading blocs |
NAFTA, EU, APEC, ASEAN, Mercoseur, CAFTA-DR are known as? |
|
|
1) Power distance 2) Uncertainty and Avoidance 3) Institutional Collectivism 4) In-group collectivism 5) Gender egalitaranism 6)Assertiveness 7) Future orientation 8) Performance orientation 9) Humane orientation |
What are the GLOBE Project's Nine Cultural Dimensions? |
|
|
1) Language 2) interpersonal space 3) communication 4) Time orientation 5) Religion |
What are the five basic culture areas? |
|
|
1) Planning Requires you to set Aside the Time to do it 2) You may have to make some decisions without a lot of time to plan |
What are the two cautions to planning? |
|
|
1) Planning helps you Check on Your progress 2) Helps you Coordinate Activities 3) Helps you think ahead 4) Cope with uncertainity |
What are the four benefits of planning? |
|
|
Defenders, Prospectors, Analyzers, Reactors |
Four Basic Strategy types to uncertainty |
|
|
1) Strategic 2) Tactical 3) Operational |
What are the three types of planning for three levels of management? |
|
|
1) policy 2) procedure 3) rule |
What are the three types of Standing plans? |
|
|
1) program 2) project |
What are the two types of Single-Use plans? |
|
|
S- Specific M- Measurable A- Attainable R- Results-oriented T- Target Dates |
What does SMART stand for? |
|
|
1) managers and employees jointly set objectives for the employee 2) managers develop action plans 3) managers and employees periodically review the employee's performance 4) manager makes a performance appraisal and rewards the employee according to results |
What are the four steps of a MBO (Management by objectives)? |
|
|
1) Top Management Must be committed 2) It must be applied Organizationwide 3) Objectives Must "Cascade" |
What are the three objectives for a MBO to work? |
|
|
(1) and (2) are planning steps (3) and (4) are control steps |
What are the steps broken down in the planning/control cycle? |
|
|
1) Make the plan 2) Carry out the plan |
What are the two planning steps? |
|
|
3) Control the direction by comparing results with the plan 4) Control the direction by taking corrective action in two ways- correcting deviations in the plan being carried out or by improving future plans |
What are the two control steps? |
|
|
1) Providing Direction and Momentum 2) Encouraging New Ideas 3) Developing a Sustainable Competitive Advantage |
Why should an organization adopt strategic management and strategic planning? (3) |
|
|
1) Strategy is the Creation of a Unique and Valuable position 2) Strategy requires Trade-offs in Competing 3) Strategy involves creating a "Fit" among Activities |
What are the three key principles of strategic planning? |
|
|
1) Establish the Mission and the Vision 2) Establish the Grand Strategy 3) Formulate Strategic Plans 4) Carry Out the Strategic Plans 5) Maintain Strategic Control |
What are the five steps of the strategic management process? |
|
|
S- Strengths W- Weaknesses O- Opportunities T- Threats |
What does SWOT analysis means? |
|
|
Strengths and Weaknesses |
What two steps of SWOT are internal? |
|
|
Opportunities and Threats |
What two steps of SWOT are external? |
|
|
1) Trend 2) Contingency |
What are the two types of trend analysis? |
|
|
1) Threats of New Entrants 2) Bargaining Power of Suppliers 3) Bargaining Power of Buyers 4) Threats of Substitute Products and Services 5) Rivalry Among Competitors |
What are Porter's Five Competitive Forces? |
|
|
1) Cost-Leadership Strategy 2) Differentiation Strategy 3) Cost-Focus Strategy 4) Focused-Differentiation Strategy |
What are Porter's Four Competitive Strategies? |
|
|
1) The Single-Product Strategy: Focused but vulnerable 2) The Diversification Strategy: Different Businesses to Spread the Risk |
What are the two strategies if you only have one product to sell and your product fails? |
|
|
1) Their business growth rates 2) Their share of the markeet |
What does the BCG (Boston Consulting Group) matrix base on? |
|
|
1) People 2) Strategy 3) Operations |
What are the three core processes of business? |
|
|
1) Identify the Problem or Opportunity: Determining Actual versus Desirable 2) Think Up Alternative Solutions: Both Obvious and Creative 3) Evaluate Alternatives and Select a Solution: Ethics, Feasibility, and Effectiveness 4) Implement and Evaluate the Solution Chosen |
What are the four stages of rational decision making? |
|
|
1) Satisficing 2) Incremental 3) Intuition |
What are the three nonrational models? |
|
|
[Edit] |
What are the Seven Implementation Principles |
|
|
1) use of modeling 2) having multiple applications 3) support from the top |
Three key attributes among Analytics |
|
|
1) The Directive Style- Action-Oriented Decision makers who focus on facts 2) The analytical style- Careful decision makers who like alternative choices 3) The Conceptual Style- Rely on Intuition and Have long-term perspective 4) Behavioral Style- Most people oriented Decision makers |
What are the four styles of decision making? |
|
|
1) Relaxed Avoidance 2) Relaxed Change 3) Defensive Avoidance 4) Panic |
What are the four ineffective reactions to problems or opportunities? |
|
|
1) Importance 2) Credibility 3) Urgency |
What are the three effective reactions to problems or opportunities? |
|
|
1) The Availability Bias 2) The Representitiveness Bias 3) The Confirmation Bias 4) The Sunk-Cost Bias 5) The Anchoring and Adjustment Bias 6) The Overconfidence Bias 7) The Hindsight Bias 8) The Framing Bias 9) The Escalation of Commitment Bias |
What are the nine common decision-making biases? |
|
|
1) Greater pool of knowledge 2) Different perspectives 3) Intellectual stimulation 4) Better understanding of decision rationale 5) Deeper commitment to the decision |
What are the five advantages of group decision making? |
|
|
1) A few people dominate or intimidate 2) Groupthing 3) Satisficing 4) Goal displacement |
What are the four disadvantages of group decision making? |
|
|
1) They are less efficient 2) Their Size affects decision quality 3) They may be too confident 4) Knowledge Counts |
What are the four characteristics of groups to be aware of if a manger wants a group decision? |
|
|
1) Brainstorming 2) The Delphi Technique 3) Computer- Aided Decision Making |
3 group problem-solving techniques |
|
|
1) Clan Culture 2)Adhocracy Culture 3) Market Culture 4) Hierarchy Culture |
Competing Values framework organizational cultures can be classified into four types |
|
|
1) Level 1: Observable Artifacts 2) Level 2: Espoused Values 3) Level 3: Basic Assumptions |
What are the three levels of Organizational Culture? |
|
|
1) It gives Members and Organizational Identity 2) It Facilitates Collective Commitment 3) It Promotes Social-System Stability 4) It shapes behavior by helping employees make sense of their surroundings |
What are the four functions of organizational culture? |
|
|
1) The strength perspective 2) The fit perspective 3) the Adaptive perspective |
Three types of organizational culture that can increase an organization's economic performance in terms of increasing competitiveness and profitability? |
|
|
1) Formal Statements 2) Slogans and Sayings 3) Stories, Legends and Myths 4) Leader Reactions to Crisis 5) Role Modeling, Training, and Coaching 6) Physical Design 7) Rewards , Titles, Promotions, and Bonuses 8) Organizational Goals and Performance Criteria 9) Measurable and Controllable Activities 10) Organizational Structure 11) Organizational Systems and Procedures |
What are the 11 mechanisms to process culture change? |
|
|
1) For-profit 2) Nonprofit 3) Mutual- benefit |
What are the three types of organizations? |
|
|
1) Common Purpose 2) Coordinated Effort 3) Division of Labor 4) Hierarchy of Authority 5) Span of Control 6) Authority, Responsibility, and Delegation 7) Centralization Versus Decentralization of Authority |
Seven common elements of Organizations |
|
|
1) Traditional Designs: Simple, Functional, Divisional, and Matrix Structures 2) The Horizontal Design: Eliminating Functional Barriers to Solve Problems 3) Designs that Open Boundaries Between Organizations: Hollow, Modular and Virtual Structures |
Three types of Organizational Designs |
|
|
1) Environment- Mechanistic versus organic 2) Environment- differentiation versus integration 3) Life cycle 4) Link between strategy and structure |
Four factors to be considered in designing an Organization's structure |
