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164 Cards in this Set
- Front
- Back
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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 organization's resources.
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Efficient
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To use resource - people, money, raw materials, and the like - wisely and cost-effectively.
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Effective
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Achieve results, to make the right decisions and to successfully carry them out so that they achieve the organization's goals.
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Competitive Advantage
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The ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them.
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Innovation
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Finding way to deliver new or better goods or services.
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Knowledge Management
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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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Management Process or Four Management Functions (POLC)
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- Planning
- Organizing - Leading - 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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Motivating, directing and otherwise influencing people to work hard to achieve the organization's 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 non-managerial personnel.
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Functional Manager
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Responsible for just one organizational activity.
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General Manager
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Responsible for several organizational activities.
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Three Types of Managerial Roles
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Interpersonal, Informational, and Decisional
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Interpersonal Role
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Figurehead, leader, & Liaison. Managers interact with people inside and outside their work units.
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Informational Role
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Monitor, Disseminator, and Spokesperson. Managers receive and communicate information.
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Decisional Roles
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Entrepreneur, Disturbance Handler, Resource Allocator, and Negotiator. Managers use information to make decisions to solve problems or take advantage or opportunities. For decision-making roles: Entrepreneur, disturbance handler, resource allocator, and negotiator.
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Entrepreneurship
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Process of taking risks to try to create a new enterprise.
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Entrepreneur
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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 organization's 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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Historical Perspective
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- Classical
- Behavioral - Quantitative |
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Contemporary Perspective
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- Systems
- Contingency - Quality-management |
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Classical Viewpoint
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Emphasized finding ways to manage work more efficiently, 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 motivating employees toward achievement.
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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 for managers.
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Quantitative Management
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Application to management of quantitative techniques, such as statistics and computer simulations. Two branches of quantitative management are 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 organization's products or services more effectively.
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System
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Set of interrelated parts that operate together to achieve a common purpose.
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System 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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Inputs
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People, money, information, equipment, and materials required to produce an organization's 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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The organization's capabilities in management and technology that are applied to converting inputs into 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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Contingency Viewpoint
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Emphasizes that a manager's approach should vary according to 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 erros 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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Learning Organization
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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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Virtual Organization
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Members are geographically apart, usually working with e-mail, collaborative computing, and other computer connections.
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Boundaryless Organization
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A fluid, highly adaptive organization whose members, 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 manaul 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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Stakeholders
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People whose interests are affected by an organization's activities.
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Internal Stakeholders
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Employees, owners, and the board of directors.
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Owners
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All those who can claim it as their legal property.
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External Stakeholders
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People or groups in the organization's external environment that are affected by it.
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Task Environment
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Eleven 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.
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Customers
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Those who pay to use an organization's 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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Person or an organization that provides supplies to other organizations.
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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 do not 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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Members try influence specific issues.
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General Environment or Macro-environment
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Six forces:
- Economic - Technological - Sociocultural - Demographic - Political-legal - International |
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Economic Forces
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General economic conditions and trends that may affect an organization's performance.
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Technological Forces
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Developments in methods fro transforming resources into goods or services.
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Sociocultural Forces
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Influences and trends originating in a country's, a society's, or a culture's human relationships and values that may affect an organization.
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Demographic Forces
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Influences on an organization arising from changes in the characteristics or 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 the 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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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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Standars 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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The relatively permanent and deeply held underlying beliefs and attitudes that help determine a person's behavior.
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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 teh individual's best long-term interests, which ultimately are in everyone's 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 standars of fairness and equity.
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Insider Trading
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Illegal trading of a company's stock by people using confidential company information.
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Ponzi Scheme
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Using cash from newer investors to pay off older ones.
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Justice Approach
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Guided by respect for impartial standars of fairness and equity.
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Sarbanes-Oxley Act of 2002
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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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Insider Trading
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Illegal trading of a company's stock by people using confidential company information.
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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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Ponzi Scheme
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Using cash from newer investors to pay off older ones.
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Code of Ethics
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Formal written set of ethical standards guiding an organization's actions.
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Sarbanes-Oxley Act of 2002
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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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Whistle-blower
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An employee who reports organizational misconduct to the public.
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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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Social Responsibility
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A managers's duty to take actions that will benefit the interests of society as well as of the organization.
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Code of Ethics
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Formal written set of ethical standards guiding an organization's actions.
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Corporate Social Responsibility
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Corporations are expected to go above and beyond following the law and making a profit.
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Whistle-blower
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An employee who reports organizational misconduct to the public.
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Philanthropy
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Making charitable donations to benefit humankind.
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Social Responsibility
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A managers's duty to take actions that will benefit the interests of society as well as of the organization.
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Corporate Social Responsibility
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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 person's identity.
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Internal Dimensions of Diversity
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Those human differences that exert a powerful, sustained effect throughout every stage of our lives.
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External Dimensions of Diversity
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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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A 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 one's native country, culture, language, abilities, or behavior is superior to that of another culture
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Globalization
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Trend of the world economy toward becoming a more interdependent system.
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Global Village
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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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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 or Multinational Enterprise
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A business firm with operations 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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A narro view in which people see things solely through their own perspective.
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Polycentric Managers
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The view that managers in the foreign officers best understand native personnel and practices, and so the home office should leave them alone.
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Geocentric Managers
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There are differences and similarities between home and foreign personnel and practices and that 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 United States to provide labor, goods, or services.
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Importing
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Company buys goods outside the country and resells them domestically.
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Exporting
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Company produces goods domestically and sells them outside the country.
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Counter-trading
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Bartering goods for goods.
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Licensing
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Company allows a foreign company to pay it a fee to make or distribute the first company's product or service.
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Franchising
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Form of licensing in which a company allows a foreign company to pay it a fee and a share for the profit in return for using the first company's brand name and a package of materials and services.
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Joint Venture or Strategic Alliance
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A firm forms with 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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Movement of goods and services among nations without political or economic obstruction
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Trade Protectionism
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Use of government regulations to limit import of goods and services.
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Tariff
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A trade barrier in the form of 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 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.
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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
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Designed to monitor and enforce trade agreements.
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World Bank
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Provide low-interest loans to developing nations for improving transportation, education, health, and telecommunications.
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International Monetary Fund
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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 country's currency.
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Trading bloc or Economic Community
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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
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A trading bloc consisting of the US, Canada, and Mexico
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European Union
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27 trading partners in Europe.
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Asia-Pacific Economic Cooperation
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21 Pacific Rim countries whose purpose is to improve economic and political ties.
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Association of Southeast Asian Nations
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A trading bloc consisting of 11 countries in Asia.
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Mercosur
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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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Central America Free Trade Agreement
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Involves the US 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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Most Favored Nation
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Trading status describes a condition in which a country grants other countries favorable trading treatments such as the reduction of import duties.
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Culture
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The shared set of beliefs, values, knowledge, and patters of behavior, common to a group fo people.
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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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Identified four dimensions along which national cultures can be places:
- individualism/collectivism - power distance - uncertainty avoidance - masculinity/feminity |
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GLOBE Project
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A massive and ongoing cross-cultural investigation of nice 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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