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;
99 Cards in this Set
- Front
- Back
|
is the systematic process thru which managers regulate organizational activities to meet planned goals and standards of performance |
Organizational Control |
|
|
this involves using feedback to determine whether performance meets established standards |
Feedback Control Model |
|
|
1. Establish standards 2. Measure performance 3. Compare performance to standards 4. Take Corrective Action |
Four Steps of the Feedback Control Model |
|
|
is a comprehensive management control system that balances traditional financial measures with measures of customer service, internal business processes, and the organization's capacity for learning and growth |
Balanced Scorecard |
|
|
one of the most commonly used forms of managerial control, is the process of setting targets for an organization's expenditures, monitoring results and comparing them to the budget, and making changes as needed |
Budgetary Control |
|
|
is any organizational department or unit under the supervision of a single person who is responsible for its activity |
Responsibility center |
|
|
outlines the anticipated and actual expenses for a responsibility center |
Expense Budget |
|
|
lists forecasted and actual revenues of the organization |
Revenue Budget |
|
|
estimates receipts and expenditures of money on a daily or weekly basis to ensure that an organization has significant cash to meet its obligations |
Cash Budget |
|
|
a budget that plans and reports investments in major assets to be depreciated over several years |
Capital Budget |
|
|
is an approach to planning and decision making that requires a complete justification for every line item in a budget, instead of carrying forward a prior budget and applying a percentage change |
Zero-based budgeting |
|
|
means that the budgeted amounts for the coming year are literally imposed on middle-and lower-level managers |
Top-down budgeting |
|
|
involves lower-level managers anticipating their department's budget needs and passing them up to top management for approval |
Buttom-up budgeting |
|
|
shows the firm's financial position with respect to assets and liabilities at a specific point in time |
Balance sheet |
|
|
summarizes the firm's financial performance for a given time interval |
Income statement |
|
|
indicates the organization's ability to meet its current debt obligations |
Liquidity ratio |
|
|
measures the organization's interval performance with respect to key activities defined by management |
Activity ratio |
|
|
describes the firm's profits relative to a source of profits, such as assets or sales |
Profitability ratio |
|
|
involves monitoring and influencing employee behavior thru extensive use of rules, policies, hierarchy of authority, written documentation, reward systems, and other formal mechanisms |
Hierarchical control |
|
|
the organization fosters compliance with organizational goals thru the use of organizational culture, group norms, and a focus on goals rather than rules and procedures |
Decentralized control |
|
|
allows employees to see for themselves the financial condition of the organization and encourages them to think and act like business owners |
Open-book management |
|
|
is an organization wide effort to infuse quality into every activity in a company thru continuous improvement |
Total Quality Mgmt |
|
|
offer one technique for implementing TQM and include a group of 6 to 12 volunteer employees who meet regularly to discuss and solve problems affecting the quality of their work |
Quality circles |
|
|
the continuous process of measuring products, services, and practices against major competitors or industry leaders |
Benchmarking |
|
|
is a quality control approach that emphasizes a relentless pursuit of higher quality and lower costs |
Six Sigma |
|
|
involves assigning dedicated personnel w/in particular functional area of the business to identify opportunities for improvement thru out the work process |
Quality partnering |
|
|
is the implementation of a larger number of small, incremental improvements in all areas of the organization on an ongoing basis |
Continuous improvement |
|
|
represent an international consensus of what constitutes effective quality mgmt as outlined by the International Organization for Standardization (ISO) |
ISO 9000 Standards |
|
|
refers to the framework of systems, rules, and practices by which an organization ensures accountability, fairness, and transparency in the firm's relationships with stakeholders |
Corporate governance |
|
|
the ability to influence ppl toward the attainment of organizational goals |
Leadership |
|
|
Individual Team Member Manager Leader Executive |
Level 5 Relationship |
|
|
means being unpretentious and modest rather than arrogant and prideful |
Humility |
|
|
a leader who serves others by working to fulfill followers' needs and goals, as well as to achieve the organization's larger mission |
Servant leader |
|
|
refers to leadership by individuals who know and understand themselves, who espouse and act consistent with higher-order ethical values, and who empower and inspire others with their openness and authenticity |
Authentic leadership |
|
|
is a leadership style characterized by value such as inclusion, collaboration, relationship building, and caring |
Interactive leadershop |
|
|
Management focus on the organization Leadership focus on the people |
Difference b/w management and leadership |
|
|
are distinguishing personal characteristics, such as intelligence, self-confidence, energy, and independence |
Traits |
|
|
are natural talents and abilities that have been supported and reinforced with learned knowledge and skills |
Strengths |
|
|
to describe the extent to which a leader is sensitive to subordinates, respects their ideas, and feelings, and establishes mutual trust |
Consideration |
|
|
the term that describes the extent to which a leader is task oriented and directs subordinates' work activities towards goal accomplishment |
Initiating structure |
|
|
is a two-dimensional leadership model that measures the leader's concern for people and concern for production to categorize the leader in one of five different leadership styles |
Leadership Grid |
|
|
is a model of leadership that describes the relationship b/w leadership styles and specific situations |
Contingency approach |
|
|
links the leader's behavioral style with the readiness level of followers |
Situational model |
|
|
is a situational variable that makes a leadership style redundant or unnecessary |
Substitute for leadership |
|
|
is a situational variable that counteracts a leadership style and prevents the leader from displaying certain behaviors |
Neutralizer |
|
|
is a leader who has thew ability to inspire and motivate people to transcend their expected performance, even to the point of personal sacrifice |
Charismatic leader |
|
|
an attractive, ideal future that is credible yet not readily attainable *both charismatic and transformational leaders provides followers with this |
Vision |
|
|
is distinguished by a special ability to bring about innovation and change by creating an inspiring vision, shaping values, building relationships, and providing meaning for followers |
Transformational leader |
|
|
clarifies subordinates' roles and task requirements, initiates structure, provides rewards, and displays consideration for followers |
Transactional leaders |
|
|
means thinking independently and being mindful of the effect of one's behavior on achieving goals |
Critical thinking |
|
|
means failing to consider the possibilities beyond what one is told, accepting others' ideas without thinking |
Uncritical thinking |
|
|
is a critical, independent thinker who actively participates in the organization |
Effective follower |
|
|
is a person who is an independent, critical thinker but is passive in the organization |
Alienated follower |
|
|
is a follower who participates actively in the organization but does not use critical thinking skills |
Conformist |
|
|
is one who exhibits neither critical independent thinking nor active participation |
Passive follower |
|
|
a follower who has qualities of all four follower styles, depending on which fits the prevalent situation |
Pragmatic survivor |
|
|
is the potential ability to influence the behavior of others |
Power |
|
|
is the effect a person's actions have the attitudes, values, beliefs, or behavior of others |
Influence |
|
|
is the power that stems from a manager's formal position in an organization and the authority granted by that position |
Legitimate power |
|
|
results from the authority to bestow rewards |
Reward power |
|
|
stems from the authority to punish or recommend punishment |
Coercive power |
|
|
is power that results from a leader's special knowledge or skill in the tasks performed by subordinates |
Expert power |
|
|
results from characteristics that command subordinates' identification with, respect and admiration for, and desire to emulate the leader |
Referent power |
|
|
refers to the design and application of formal systems to ensure the effective and efficient use of human talent to accomplish organizational goals |
Human Resource Mgmt (HRM) |
|
|
1. Finding the right people 2. Managing Talent 3. Maintaining an effective workplace |
Three primary goals of HRM |
|
|
refers to the economic value of the combined knowledge, experience, skills, and capabilities of employees |
Human capital |
|
|
is similar to a product brand except that it promotes the organization as a great place to work, rather than promoting a specific product or service |
Employer brand |
|
|
are people who work for an organization, but not on a permanent or full-time basis, including temporary placements, independent contractors, freelancers, and part-time employees |
Contingent workers |
|
|
means using computers and telecommunications equipment to perform work from home or another remote location |
Telecommuting |
|
|
refers to the forecasting of human resource needs and the projected matching of individuals with anticipated job vacancies |
Human resource planning |
|
|
a human resources approach in which the organization and the individual attempt to match each other's needs, interests, and values |
Matching model |
|
|
refers to the activities or practices that define the desired characteristics of applicants for specific jobs |
Recruiting |
|
|
is the systematic process of gathering and interpreting info about the essential duties, tasks, and responsibilities of a job |
Job analysis |
|
|
a concise summary of the specific tasks and responsibilities of that job |
Job description |
|
|
outlines the knowledge, kills, education, physical abilities, and other characteristics needed to perform a specific job adequately |
Job specification |
|
|
this gives applicants all pertinent and realistic info, both positive and negative, about a job and the organization |
Realistic job previews |
|
|
is an arrangement whereby an intern, usually high school or college student, exchanges his or her services for this opportunity to gain work experience and see whether a particular career is appealing |
Internship |
|
|
is the process of assessing the skills, abilities, and other attributes of applicants in an attempt to determine the fit b/w the job and each applicant's characteristics |
Selection |
|
|
is a selection device that collects info about the applicant's education, previous work experience, and other background characteristics |
Application form |
|
|
uses a set of standardized ?s that are asked of every applicant so comparisons can be easily made |
Structured interviews |
|
|
the interviewer asks broad, open-minded ?s and permits the applicants to talk freely with minimal interruption, etc |
Non-directive interview |
|
|
is an interview in which the candidate meets with several interviewers who take turns asking ?s |
Panel interview |
|
|
assess candidates on various factors considered important for the job to be performed and include cognitive ability tests, physical ability tests, and personality tests |
Employment tests |
|
|
is used to select individuals with high managerial potential based on their performance in a series if stimulated managerial tasks |
Assessment center |
|
|
administer this to the applicants for front line positions to evaluate their performance in completing stimulated tasks that are a part of the job |
Work sample tests |
|
|
this the most common method of training in which an experienced employee is asked to teach a new employee how to perform job duties |
On-the-job training |
|
|
refers to using social media tools to network and learn informally |
Social learning |
|
|
is an in-house training and development facility that offers broad-based learning opportunities for employees |
Corporate university |
|
|
is the process of observing and evaluating an employee's performance, recording the assessment, and providing feedback |
Performance appraisal |
|
|
this uses multiple raters, including self-rating, to appraise employee performance and guide development |
360-degree feedback |
|
|
is a performance evaluation error that occurs when a manager places an employee into a class or category based on one or few traits or characteristics |
Stereotyping |
|
|
occurs when a manager gives an employee the same rating on all dimensions of the job, even tho performance may be good on some dimensions and poor on others |
Halo effect |
|
|
is a performance evaluation technique that relates an employee's performance to specific job-related incidents |
Behaviorally anchored rating scale (BARS) |
|
|
refers to all monetary payments and all non-monetary goods or benefits used to reward employees |
Compensation |
|
|
is the process of determining the value of jobs within an organization thru an examination of job content |
Job evaluation |
|
|
show what other organizations pay incumbents in jobs that match a sample of key jobs selected by the organization |
Wage and salary surveys |
|
|
also called incentive pay, means tying at least a portion of compensation to employee effort and performance |
Pay-for-performance |
|
|
also called downsizing, refers to reducing the company's workforce intentionally to the point where the number of employees is deemed right for the company's current situations |
Rightsizing |
|
|
is an interview conducted with departing employees to determine reasons for their departure and learn about potential problems in the organization |
Exit interview |
