Management Test 3

Front 1

information systems

Back 1

use it to collect, organize, and distribute data for use in decision making

Front 2

management information systems

Back 2

meet the information needs of managers in making daily decisions

Front 3

data

Back 3

raw facts and observations

Front 4

problem solving

Back 4

involves identifying and taking action to resolve problems

Front 5

programmed decisions

Back 5

applies a solution from past experience to a routine problem

Front 6

structured problems

Back 6

are straightforward and clear in information needs

Front 7

unstructured problems

Back 7

have ambiguities and informatoin deficiencies

Front 8

nonprogrammed decision

Back 8

applies a specific solution crafted for a unique problem

Front 9

crisis management

Back 9

preparation for the management of crises that threaten an organizations well being

Front 10

certain environment

Back 10

offers complete information on possible action alternatives and their consequences

Front 11

risk environment

Back 11

lacks complete information but offers "probablities" of the likely outcomes for possible action alternatives

Front 12

uncertain environment

Back 12

lacks so much information that it is difficult to assign probabilities to the likely outcomes of alternatives

Front 13

systematic thinking

Back 13

approaches problems in a rational and analytical fashion

Front 14

intuitive thinking

Back 14

approaches problems in a flexible and spontaneous fashion

Front 15

cost-benefit analysis

Back 15

involves comparing the costs and benefits of each potential course of action

Front 16

classical decision model

Back 16

describes decision making with complete info

Front 17

optimizing decision

Back 17

chooses the alternative giving the absolute best solution to the problem

Front 18

behavioral decision making

Back 18

describes decision making with limited info and bounded rationality

Front 19

satisficing decision

Back 19

chooses the first satisfactory alternatiave that comes to one's attention

Front 20

heuristics

Back 20

are strategies for simplifying decision making; availability, representativeness, anchoring and adjustment

Front 21

availability heuristic

Back 21

occurs when people use information readily "available" from memory as a basis for assessing a situation

Front 22

representativeness heuristic

Back 22

occurs when people assess the likelihood of something occurring based on its similarity to a stereotyped set of occurrences

Front 23

anchoring and adjustment heuristic

Back 23

involves making decisions based on adjustments to a previously existing value or starting point

Front 24

escalating committment

Back 24

the continuation of a course of action even though it isnt working

Front 25

hierarchy of objectives

Back 25

lower-level objectives are means to accomplishing higher level ones

Front 26

strategic plan

Back 26

identifies long-term directoins for the organization

Front 27

strategic intent

Back 27

focuses and applies organizational energies on a unifying and compelling goal

Front 28

mission

Back 28

the organizations reason for existence in society

Front 29

stakeholders

Back 29

are individuals and groups directly affected by an organization and its accomplishments

Front 30

organizational culture

Back 30

the predominant value system for the organization as a whole

Front 31

beneficial impacts of IT on an organization

Back 31

more flexibility, fewer middle managers, faster decision making, increased coordination and control

Front 32

problem solving process

Back 32

1. find and define the prob
2. evaluative alternatives
3. make decision and ethics double check
4. do decision
5. evaluate results

Front 33

purpose of mission statement

Back 33

reason for organizations existence, identifies customers, products/services, location, and underlying philosophy

Front 34

what role does organizational culture play in the strategic management process

Back 34

shapres values, points people in common directions, builds identity, gives character, backs up mission statement, guides bahvior

Front 35

strategic management process

Back 35

process of creating strategy, involves assessing strategies, organization, and environment to develop new strategic plans

Front 36

BCG planning model

Back 36

ties strategy formulation to analysis of business opportunities according to industry growth rate and marketshare
- cash cow
-stars
-dogs
-questoin marks

Front 37

miles and snow's strategic model

Back 37

prospectory strategy
defender strategy
analyzer strategy
reactor strategy

Front 38

strategic plans

Back 38

set broad, comprehensive and longer-term action directions for entire organization

Front 39

operational plans

Back 39

define what needs to be done in specific areas

Front 40

forecasting

Back 40

attempts to predict the future

Front 41

benchmarking

Back 41

uses external comparisons to gain insights for planning

Front 42

contingency planning

Back 42

identifies alternative courses of action to take when things go wrong

Front 43

scenario planning

Back 43

identifies alterative future scenarios and makes plans to deal with each

Front 44

characteristics of management by objectives

Back 44

process of joint objective setting a superior and subordinate
-specific
-time defined
-challenging
-measurable

Front 45

what is the relationships between planning and controlling

Back 45

when planning is well done it facilitates control

Front 46

discipline

Back 46

the act of influencing behavior through reprimand

Front 47

progressive descipline

Back 47

ties reprimands to severity and frequency of misbehavior

Front 48

feedforward control

Back 48

ensures that directions and resources are right before work begins

Front 49

concurrent control

Back 49

focuses on what happens during the work process

Front 50

feedback control

Back 50

takes place after an action is completed