Mgmt Test

Front 1

organization

Back 1

group of people working together in a structured and coordinated fashion to achieve a set of goals

Front 2

possible goals of organization

Back 2

profit, discovery of knowledge, national defense, coordination of various local charities, social satisfaction.

Front 3

management

Back 3

a set of activities directed at an organization's resources with the aim of achieving organizational goals in an efficient manner.

Front 4

manager

Back 4

someone whose primary responsibility is to carry out the management process.

Front 5

efficient

Back 5

using resources wisely in a cost effective way

Front 6

effective

Back 6

making the right decisions and successfully implementing them.

Front 7

top managers

Back 7

relatively small group of executives who manage the overall organization. President, vice president, chief executive officer (CEO).

Front 8

what do top managers do?

Back 8

create organization's goals, overall strategy, and operating policies. Officially represent the organization.

Front 9

middle management

Back 9

largest group of mangers in most organizations. plant manager, operations manager, and division head.

Front 10

what do middle managers do?

Back 10

implementing the policies and plans developed by top managers and for supervising and coordinating the activities of lower-level managers.

Front 11

first-line managers

Back 11

supervise and coordinate the activities of operating employees. supervisor, coordinator, and office manager. Positions often held by employees who enter mgmt from the ranks of operating personnel.

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planning

Back 12

setting an organization's goals and deciding how best to achieve them.

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decision making

Back 13

part of the planning process that involves selecting a course of action from a set of alternatives.

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mgmt process

Back 14

mgmt involves 4 basic activities- planning and decision making, organizing, leading, and controlling.

Front 15

organizing

Back 15

determining how activities and resources are to be grouped.

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leading

Back 16

the set of processes used to get members of the organization to work together to further the interests of the organization

Front 17

controlling

Back 17

monitoring organizational progress toward goal attainment

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technical skills

Back 18

the skills necessary to accomplish or understand the specific kind of work done in an organization

Front 19

interpersonal skills

Back 19

the ability to communicate with, understand, and motivate both individuals and groups

Front 20

conceptual skills

Back 20

the manager's ability to think in the abstract

Front 21

diagnostic skills

Back 21

the manager's ability to visualize the most appropriate response to a situation

Front 22

communication skills

Back 22

the manager's abilities both to effectively convey ideas and information to others and to effectively receive ideas and information from others

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decision-making skills

Back 23

the manager's ability to correctly recognize and define problems and opportunities and to then select an appropriate course of action to solve problems and capitalize on opportunities

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time mgmt skills

Back 24

the manager's ability to prioritize work, to work efficiently, and to delegate appropriately

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theory

Back 25

a conceptual framework for organizing knowledge and providing a blueprint for action

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classical mgmt perspective

Back 26

consists of 2 distinct branches- scientific mgmt and administrative mgmt

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scientific mgmt

Back 27

concerned with improving the performance of individual workers

Front 28

soldiering

Back 28

employees deliberately working at a slow pace

Front 29

administrative mgmt

Back 29

focuses on managing the total organization

Front 30

Frederick W. Taylor

Back 30

developed system of scientific mgmt. introduced time-and-motion studies and performance based pay systems

Front 31

behavioral mgmt perspective

Back 31

emphasizes individual attitudes and behaviors and group processes

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human relations movement

Back 32

argued that workers respond primarily to the social context of the workplace

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theory x

Back 33

a pessimistic and negative view of workers consistent with the views of scientific mgmt

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theory y

Back 34

a positive view of workers; it represents the assumptions that human relations advocates make

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organizational behavior

Back 35

contemporary field focusing on behavioral perspectives on mgmt

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quantitative mgmt perspective

Back 36

applies quantitative techniques to mgmt

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mgmt science

Back 37

focuses specifically on the development of mathematical models

Front 38

operations mgmt

Back 38

concerned with helping the organization more efficiently produce its products or services

Front 39

system

Back 39

an interrelated set of elements functioning as a whole

Front 40

open system

Back 40

a system that interacts with its environment

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closed system

Back 41

a system that does not interact with its environment

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subsystem

Back 42

a system within another system

Front 43

synergy

Back 43

two or more subsystems working together to produce more than the total of what they might produce working alone

Front 44

entropy

Back 44

a normal process leading to system decline

Front 45

universal perspective

Back 45

an attempt to identify the one best way to do something

Front 46

contingency perspective

Back 46

suggests that appropriate managerial behavior in a given situation depends on, or is contingent on, unique elements in a given situation

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Reed Hastings

Back 47

Netflix CEO. founded in 1998

Front 48

external environment

Back 48

everything outside an organization's boundaries that might affect it

Front 49

general environment

Back 49

the set of broad dimensions and forces in an organization's surroundings that determines its overall context

Front 50

task environment

Back 50

specific organizations or groups that affect the organization

Front 51

internal environment

Back 51

the conditions and forces within an organization

Front 52

economic dimension

Back 52

the overall health and vitality of the economic system in which the organization operates

Front 53

technological dimension

Back 53

the methods available for converting resources into products or services

Front 54

political-legal dimension

Back 54

the government regulation of business and the relationship between business and govt

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competitor

Back 55

an organization that competes with other organizations for resources

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customer

Back 56

whoever pays money to acquire an organization's products or services

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supplier

Back 57

an organization that provides resources for other organizations

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regulator

Back 58

a body that has the potential to control, legislate, or otherwise influence the organization's policies and practices

Front 59

regulatory agency

Back 59

an agency created by the government to regulate business activities

Front 60

interest group

Back 60

a group organized by its members to attempt to influence organizations

Front 61

strategic partner

Back 61

an organization working together with one or more other organizations in a joint venture or similar arrangement

Front 62

owner

Back 62

whoever can claim property rights to an organization

Front 63

board of directors

Back 63

governing body that is elected by a corporation's stockholders and charged with overseeing the general management of the firm to ensure that it is being run in a way that best serves the stockholders' interests

Front 64

ethics

Back 64

an individual's personal beliefs about whether a behavior, action, or decision is right or wrong

Front 65

ethical behavior

Back 65

behavior that conforms to generally accepted social norms

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unethical behavior

Back 66

behavior that does not conform to generally accepted social norms

Front 67

managerial ethics

Back 67

standards of behavior that guide individual managers in their work

Front 68

code of ethics

Back 68

a formal, written statement of the values and ethical standards that guide a firm's action

Front 69

Sarbanes-Oxley Act of 2002

Back 69

A law that requires CEOs and CFO's to vouch personally for the truthfulness and fairness of their firms' financial disclosure and imposes tough new measures to deter and punish corporate and accounting fraud and corruption

Front 70

social responsibility

Back 70

the set of obligations that an organization has to protect and enhance the societal context in which it functions

Front 71

legal compliance

Back 71

the extent to which an organization complies with local, state, federal, and international laws

Front 72

ethical compliance

Back 72

the extent to which an organization and its members follow basic ethical standards of behavior

Front 73

philanthropic giving

Back 73

awarding funds or gifts to charities or other worthy causes

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whistleblowing

Back 74

the disclosure, by an employee, of illegal or unethical conduction the part of others within the organization

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exporting

Back 75

making a product in the firm's domestic marketplace and selling it in another country

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importing

Back 76

bringing a good, service, or capital into the home country from abroad

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licensing

Back 77

an arrangement whereby one company allows another company to use its brand name, trademark, technology, patent, copyright, or other assets in exchange for a royalty based on sales

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strategic alliance

Back 78

a cooperative arrangement between two or more firms for mutual gain

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joint venutre

Back 79

a special type of strategic alliance in which the partners share in the ownership of an operation on an equity basis

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direct investment

Back 80

when a firm builds or purchases operating facilities or subsidiaries in a different country from the one where it has its headquarters

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masquiladoras

Back 81

light assembly plants that are built in northern Mexico close to the U.S border and are given special tax breaks by the Mexican govt

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tariff

Back 82

a tax collected on goods shipped across national boundaries

Front 83

quota

Back 83

a limit on the number or value of goods that can be traded

Front 84

export restraint agreements

Back 84

accords reached by governments in which countries voluntarily limit the volume or value of goods they export to or import from one another

Front 85

economic community

Back 85

a set of countries that agree to markedly reduce or eliminate trade barriers among member nations (a formalized market system)

Front 86

European Union (EU)

Back 86

the first and most important international market system

Front 87

North American Free Trade Agreement (NAFTA)

Back 87

an agreement between the US, Canada, and Mexico to promote trade with one another

Front 88

General Agreement on Tariffs and Trade (GATT)

Back 88

a trade agreement intended to promote international trade by reducing trade barriers and making it easier for all nations to compete in international markets

Front 89

world trade organization (WTO)

Back 89

An organization, which currently includes 140 member nations and 32 observer countries, that requires members to open their markets to international trade and to follow WTO rules

Front 90

organizational culture

Back 90

the set of values, beliefs, behaviors, customs, and attitudes that help the organization's member understand what it stands for, how it does things, and what it considers important

Front 91

mission

Back 91

a statement if an organization's fundamental purpose

Front 92

strategic goal

Back 92

a goal set by and for an organization's top mgmt

Front 93

tactical goal

Back 93

a goal set by and for an organization's middle managers

Front 94

operational goal

Back 94

a goal set by and for an organization's lower level managers

Front 95

strategic plan

Back 95

a general plan outlining decisions about the resource allocation, priorities, and action steps necessary to reach strategic goals

Front 96

operational plan

Back 96

a plan that focuses on carrying out tactical plans to achieve operational goals

Front 97

strategy

Back 97

a comprehensive plan for accomplishing an organization's goal

Front 98

strategic mgmt

Back 98

a comprehensive and ongoing mgmt process aimed at formulating and implementing effective strategies; a way of approaching business opportunities and challenges

Front 99

effective strategy

Back 99

a strategy that promotes a superior alignment between the organization and its environment and the achievement of strategic goals

Front 100

distinctive competence

Back 100

an organizational strength possessed by only a small number of competing firms

Front 101

scope

Back 101

when applied to strategy, it specifies the range of markets in which an organization will compete

Front 102

resource deployment

Back 102

how an organization distributes its resources across the areas in which it competes

Front 103

business-level strategy

Back 103

the set of strategic alternatives from which an organization chooses as it conducts business in a particular industry or market

Front 104

corporate-level strategy

Back 104

the set of strategic alternatives from which an organization chooses as it manages its operations simultaneously across several industries and several markets

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strategy formulation

Back 105

the set of processes involved in creating or determining an organization's strategies; it focuses on the content of strategies

Front 106

strategy implementation

Back 106

the methods by which strategies are operationalized or executed within the organization; it focuses on the processes through which strategies are achieved

Front 107

SWOT

Back 107

an acronym that stands for strengths, weaknesses, opportunities, and threats

Front 108

organizational strength

Back 108

a skill or capability that enables an organization to create and implement its strategies

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organizational weakness

Back 109

a skill or capability that does not enable an organization to choose and implement strategies that support its mission

Front 110

organizational opportunity

Back 110

an area in the environment that, if exploited, may generate higher performance

Front 111

organizational threat

Back 111

an area that increases the difficulty of an organization performing at a high level

Front 112

differentiation strategy

Back 112

a strategy in which an organization seeks to distinguish itself from competitors through the quality of its products or services

Front 113

overall cost leadership strategy

Back 113

a strategy in which an organization attempts to gain a competitive advantageby reducing its costs below the costs of competing firms

Front 114

focus strategy

Back 114

a strategy in which an organization concentrates on a specific regional market, product line, or group of buyers

Front 115

product life cycle

Back 115

a model that portrays how sales volume for products changes over the life of products

Front 116

diversification

Back 116

the number of different businesses than an organization is engaged in and the extent to which these businesses are related to one another

Front 117

single-product strategy

Back 117

a strategy in which an organization manufactures just one product or service and sells it in a single geographic market

Front 118

related diversification

Back 118

a strategy in which an org operates in several businesses that are somehow linked with one another

Front 119

unrelated diversification

Back 119

a strategy in which an organization operates multiple businesses that are not logically associated with one another

Front 120

portfolio mgmt techniques

Back 120

methods that diversified organizations use to determine which businesses to engage in and how to manage these businesses to maximize corporate performance

Front 121

BCG Matrix

Back 121

a framework for evaluating businesses relative to the growth rate of their market and the org's share of the market

Front 122

Dogs, cash cows, questions marks, stars

Back 122

dogs: businesses that have a very small share of a market that is not expected to grow.

cash cows: businesses that have a large share of market that is not expected to grow substantially.

"milked" for $ to support businesses in markets that have greater growth potential)

question marks: business that have only a small share of quickly growing market. Future uncertain.

stars: businesses that have the largest share of a rapidly growing market.

Front 123

GE business screen

Back 123

a method of evaluating businesses along two dimensions: (1) industry attractiveness and (2) competitive position; in general, the more attractive the industry and the more competitive the position, the more an organization should invest in a business

Front 124

tactical plan

Back 124

a plan aimed at achieving tactical goals and developed to implement part of a strategic plan; an organized sequence of steps designed to execute strategic plans

ex: top managers at Coca Cola and their strategic plan for cementing the firm's dominance of the soft drink industry.

Front 125

single-use plan

Back 125

developed to carry out a course of action that is not likely to be repeated in the future

Front 126

program

Back 126

a single-use plan for a large set of activities

Front 127

project

Back 127

a single-use plan of less scope and complexity than a program

Front 128

standing plan

Back 128

developed for activities that recur regularly over a period of time

Front 129

policy

Back 129

a standing plan that specifies the org's general response to a designated problem or situation

Front 130

SOP

Back 130

a standard plan that outlines the steps to be followed in particular circumstances

Front 131

rules and regulations

Back 131

describe exactly how specific activities are to be carried

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contingency planning

Back 132

the determination of alternative courses of action to be taken if an intended plan is unexpectedly disrupted or rendered inappropriate

Front 133

crisis mgmt

Back 133

the set of procedures the org uses in the event of a disaster or other unexpected calamity