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38 Cards in this Set
- Front
- Back
- 3rd side (hint)
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What are the different types of Organizations? |
Different Types of Organizations: 1. Publicly Held 2. Privately Held 3. Public Sector 4. Crown Corporations (federal or provincial) |
4 types |
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What is the definition of 'Effective'? |
Effective = A measure of the appropriateness of the work/goals chosen
(Getting the job done/completed) |
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What is the definition of 'Efficient'? |
Efficient = A measure of how well resources are used to achieve work/goals
(Getting the job done well) |
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What are the different types of Managers? |
Types of Managers: 1. Top Managers (CEO, VP, etc) 2. Middle Managers (department heads) 3. First line Managers (supervisors) |
3 types |
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What are the roles of each type of manager? |
Managerial Roles: 1. Top = strategic goals 2. Middle = tactical 3. First line = operational |
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What is Henry Fayol's 4 types of Management Functions? |
Management Functions: 1. Plan = managers identify and select organizational goals, strategies, and action plans 2. Organize = managers determine what needs to be done, who will do it, who makes the decisions and who reports to who. 3. Lead = working with and through people to accomplish goals (using influence and vision) 4. Control = monitoring and measuring performance |
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What is Henry Mintzberg's Roles of Management? |
Management Roles: 1. Interpersonal - Figurehead = perform social and legal duties (symbolic leader) - Leader = direct and motivate subordinates, select and train employees - Liaison = establish and maintain contacts within and outside the organization
2. Informational - Monitor = seek and acquire work related information - Internal Disseminator = communicate information to others within the organization - External Spokesperson = communicate information to outsiders
3. Decisional - Entrepreneur = identify new ideas and initiate improvement projects - Disturbance Handler = deal with disputes and take corrective action - Resource Allocator = decide where to apply recourses - Negotiator = defend business interests |
3 roles + 3 subcategories each |
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What are the 3 types of Management Skills? (Robert Katz concept) |
Management Skills: 1. Technical Skills = knowledge and expertise in a specific field
2. Human Skills = the ability to work well with others
3. Conceptual Skills = the ability to analyze and generate ideas (understanding the big picture) |
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What is the Omnipotent view? |
Omnipotent = The view that managers are directly responsible for an organization's success or failure |
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What is the Symbolic view? |
Symbolic = The managers ability to affect organizational outcomes is influenced and constrained by external factors (ie. Environmental or other variables)
Managers have very limited power in their ability to directly influence organizational outcomes |
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What is Managerial Discretion? |
Discretion = The level of impact or control a manager has on organizational performance (which is effected by internal and external environment) |
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Who/what are Organizational Stakeholders? |
Stakeholders = Groups in the external or internal environment that are affected by or that can influence the organization's decisions and actions.
Ex) employees, unions, shareholder, communities, suppliers, customers, competitors, gov'ts, media, etc. |
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What is the Organizational Culture analogy? |
Organizational culture is the "water in the fishbowl" → employees are immersed in it |
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What is organizational Culture? |
Org. Culture = It is the personality of an organization → "the way we do things around here" based on values and behaviours that guide decision making |
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What do strong organizational cultures have? |
Strong Org. Culture: 1. Clear Expectations (the way we do things) 2. Social Glue (a sense of belonging) 3. Social Control (how to behave) 4. Assists in Recruitment & Socialization (training of organizations culture) |
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What is MNC? (Multi-National Corp.) |
MNC = Organizations that own or control production of goods or services in 2+ countries (home country & host country) |
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What is Ethnocentric Attitude (high parochial)? |
Ethnocentric = Viewing the world solely & narrowly through ones own cultural perspective & not recognizing the differences, diversity and the value of other culture (ie. home country feels they "knows best") |
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What is Polycentric Attitude (low parochial)? |
Polycentric = Understanding the importance of different cultures & their values (ie. Home country adapts to the host country) |
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Name the 7 ways organizations can Go Global. |
Going Global: 1. Exporting 2. Importing 3. Global Outsourcing (aka. off shoring) 4. Franchising (franchisee or franchisor) 5. Licensing 6. Strategic Alliance (partnership or joint venture) 7. Foreign Subsidiary (setting up a separate company in a foreign country) |
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What is the Supply Management System? Explain. (Hint : Farmers) |
Supply management system: It is an agricultural policy framework tonset stable prices for both farmers and consumers. It regulates: 1. Production and quality control 2. Price controls 3. Import controls
^ it offers financial stability for farmers, retailers and processors while benefiting consumers by providing quality standards, supply stability and minimal price fluctuatations. |
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What is a Trade War? |
Trade War = An economic conflict resulting from extreme protectionism in which states create trade barriers against each other. (Ex. Raising tariffs on a specific good/service, so the other country raises tariffs on their goods/services in retaliation) |
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What is Globalization? |
Globalization = The development of an increasingly integrate world economy (Ie. Free trade, free flow of capital across borders, exploitation of cheaper labour markets, exploitation of business friendly regulatory environments) |
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What is the EU? |
EU = A unified economic and trade entity called the Eurozone
Sidenote: The strongest euro economies are Germany , Belgium, and France. The weakest are Greece, Italy, and Ireland |
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What is the USMCA? |
a regional trade alliance (successor to NAFTA) that eliminates barriers between the US, Canada and Mexico |
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What is CETA? |
A regional trade alliance that eliminates most tariffs (98%) between Canada and the EU |
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What are the challenges Global Trading Alliances face? |
1. Language Barriers 2. Economic Strength or Liability (ie. Having to bail out weaker countries) 3. Balancing commerce against labour and human rights and environment |
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What is WTO? What does it do? |
World Trade Organization = - an organization for liberalizing, monitoring and promoting global trade - a forum for gov't to negotiate trade agreements - a place to settle trade disputes - operates a system of trade rules |
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What is Dumping? |
Dumping = When manufacturers export a product to another country at a price either below the price charged at home, OR below it's cost of production (also called Predatory Pricing) |
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What was the example (in class) for Globalization Risks? |
Menu Foods pet Food retailer used a Chinese retailer that used Melamine (to fake high protein test results) that was poisonous to pets so they had to recall 60 million units. The share price fell from $7 to $1.60 and paid 24 million to settle 100+ class action lawsuits & obviously lost customer loyalty |
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What is Hofstede's Framework for Assessing Cultures? |
Assessing Cultures: 1. Individualism vs. Collectivism ^ look out for themselves vs. others
2. Power Distance = the degree to which society accepts inequalities in power High → inequality is high Low → inequality is low
3. Achievement vs. Nurturing ^ high masculinity vs. high femininity
4. Uncertainty Avoidance = the level of tolerance for cultural differences Low → high tolerance High → low tolerance
5. Long term vs. Short term Orientation ^ saving vs. seeks happiness or weather right now |
5 types |
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What is the Classical (Economic) view of Social Responsibility? |
Classical View = Organizations have no social responsibility except to provide jobs, products and services
Single Bottom Line = Profit |
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What is the Socio-Economic (Sustainable) view of Social Responsibility? |
Socio-Economic View = Businesses' responsibility goes beyond making profits and includes improving the health of society
Triple bottom line = People, Planet, Profit |
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What is the Greening of Management? And why are businesses doing it? |
Respect, protect and preserve the environment Why: 1. Good PR & Good business performance 2. Bad CSR = poor economic performance 3. Meet the expectations of green consumers |
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What is Green Washing? |
Green Washing = Using green marketing to promote the false perception that an organization is eco-friendly |
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What is Values-Based Management? |
Managers that: 1) uphold organizational values 2) ... That are shared and practiced across the organization 3) ... And form the foundation of the organization's culture |
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What is the difference between values & ethics? |
Values = are individual principles shaped by our societal conditioning Ethics = is the behaviour that results from thinking about the consequences ones actions and decisions will have on others |
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What are the 3 views on ethics? |
Ethic Views: 1. Utilitarian View = the greatest good for the greatest number 2. Rights View = respecting & protecting individual liberties and rights 3. Theory of Justice Views = Rules are enforced fairly and impartially (due process) |
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What are the levels of Kohlberg's Moral Development Model? |
Moral Development Model: 1) Preconventional: Stage 1 = Punishment & Obedience - sticking to rules to gain reward or avoid punishment Stage 2 = Instrumental Exchange - following rules only when doing so is in your immediate interest
2) Conventional: Stage 3 = Good boy, nice girl - living up to what is expected of you Stage 4 = Law & Order - fulfilling obligations you have agreed to
3) Post Conventional: Stage 5 = Social Construct - valuing rights of others and upholding values and rights regardless of majority opinion Stage 6 = Universal Principles - following self chosen ethical principles even if they violate the law or organizational rules |
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