Management Test 1

Front 1

what is management?

Back 1

getting work done through others

Front 2

Efficiency

Back 2

getting work done with minimum effort, expense, or waste

Front 3

Effectiveness

Back 3

accomplishing tasks that help fulfill organizational objectives

Front 4

4 functions of management

Back 4

planning, organizing, leading, controlling

Front 5

Top managers

Back 5

executives responsible for the overall direction of the organization

Front 6

Middle managers

Back 6

Responsible for:

•Setting objectives consistent with topmanagement’s goals

•Planning and implementing subunit strategies for achieving the objectives

•Plant manager, regional manager, or divisionalmanager

Front 7

First-line managers

Back 7

Train and supervise the performance ofnonmanagerial employees who are responsiblefor producing a company’s goods and services

•Responsibilities: Monitoring, teaching, andshort-term planning

•Office manager, shift supervisor, or departmentmanager

Front 8

Team leaders

Back 8

Managers responsible forfacilitating team activities toward goalaccomplishment

Front 9

Scientific management

Back 9

Frederick W. Taylor: Father of scientificmanagement•Developed four principles of scientificmanagement•Introduced the time study

•Time study: Time taken by good workers tocomplete each part of their jobs

Front 10

Frank and Lillian Gilbreth

Back 10

Employed motion study to simplify work andimprove productivity

•Motion study: Breaking each task or job intoits separate motions and then eliminatingthose that are unnecessary or repetitive

Front 11

Gantt

Back 11

Gantt chart: Indicates what tasks must becompleted at which times in order to complete aproject

Front 12

Bureaucratic management

Back 12

Max Weber: Proposed the idea ofbureaucracy

•Bureaucracy: Exercise of control on the basis ofknowledge, expertise, or experience

Front 13

Henri Fayol

Back 13

Division of work•Authority andresponsibility•Discipline•Unity of command•Unity of direction•Subordination ofindividual interests tothe general interests•Remuneration•Subordination ofindividual interests tothe general interests•Centralization, scalarchain•Order, equity•Stability of tenure ofpersonnel•Initiative•Esprit de corps

Front 14

Mary Parker-Follett

Back 14

Mary Parker Follett

•Developed the approach of integrative conflict resolution

•Integrative conflict resolution: Approach to deal with conflict in which both parties indicate their preferences

•Find an alternative that meets the needs of both parties

Front 15

System

Back 15

Set of interrelated elements orparts that function as a whole

Front 16

Operations management

Back 16

Eli Whitney: Manufacturing using standardized,interchangeable parts•Gaspard Monge: Techniques for drawing three-dimensional objects on paper

•Oldsmobile Motor Work: Invented just-in-timeinventory systems

Front 17

Contingency management

Back 17

Holds that there are no universal managementtheories

Front 18

Systems management

Back 18

System is a set of interrelated elements or partsthat function as a whole

Synergy occurs when subsystems produce morethan they can working apart

Front 19

Stable environment

Back 19

Rate of change is slow

Front 20

Dynamic environment

Back 20

rate of change is fast

Front 21

Components of the General Environment

Back 21

economy, technology, Sociocultural- includes demographic characteristics, general behavior, attitudes, and beliefs of people in a particular society, political/legal

Front 22

Components of the Specific Environment

Back 22

customers, competitors, suppliers, industry regulation, advocacy group

Front 23

Factors that influence successful cultures

Back 23

Adaptability, involvement, Clear mission, consistency

Front 24

US Sentencing Commission Guidelines for Organizations

Back 24

Companies can be prosecuted and punished for their unethical behavior

•Cover offenses defined by federal laws

•Encourage companies to take proactive steps that will discourage white-collar crime

•Give companies an incentive to cooperateand disclose illegal activities to federal authorities

Front 25

Shareholder model

Back 25

Organization’s overriding goal should be profit maximization for the benefit of shareholders

Front 26

Stakeholder model

Back 26

Management’s most important responsibility islong-term survival•Achieved by satisfying the interests ofmultiple corporate stakeholders

Front 27

Reactive strategy

Back 27

Company does less than society expects

Front 28

Defensive strategy

Back 28

Company admits responsibility for a problem but does theleast required to meet societal expectations

Front 29

Accommodative strategy

Back 29

Company accepts responsibility for a problem and does allthat society expects to solve that problem

Front 30

Proactive strategy

Back 30

Company anticipates a problem before it occurs and doesmore than society’s expectations

Front 31

Stakeholders

Back 31

people affected by the business and decisions it makes

Front 32

Steps to ethical decision making

Back 32

Selecting and hiring ethical employees

•Establishing a specific code of ethics

•Training employees to make ethical decisions

•Creating an ethical climate

Front 33

Benefits of planning

Back 33

Employees put forth greater effort when following a plan

•Leads to persistence

•Provides direction

•Encourages the development of task strategies

•Works for companies and individuals

Front 34

Pitfalls

Back 34

Impedes change and prevents needed adaptation

•Creates a false sense of certainty

•Detachment o fplanners

Front 35

Steps for effective planning

Back 35

1. set goals

2. develop commitment

3. develop effective action plans

4. track progress toward goal achievement

5. maintain flexibility

Front 36

Guidelines for good goal making

Back 36

S-specific

M-measurable

A-attainable

R-realistic

T-timely

Front 37

Competitive advantage

Back 37

Organizations can achieve a competitive advantage by using their resources toprovide greater value for customers thancompetitors can

Front 38

How does a competitive advantage become sustainable?

Back 38

when other companies cannot duplicate the value a firm is providing to customers

Front 39

Portfolio strategy

Back 39

Minimizes risk by diversifying investment among various businesses or product lines

Front 40

Porter's five industry forces

Back 40

1.Competition in the industry

2. Potential of new entrants into the industry

3. Power of suppliers

4. Power of customers

5. Threat of substitute products.