Mgt 300 Ch. 4 Vocabulary

Front 1

Strategic Plans

Back 1

make clear how the company will serve customers and position itself against competitors in the next 2 tp 5 years

Front 2

Vision

Back 2

statement of a company's perupose or reason for existing

Front 3

mission

Back 3

more specific goal that unifies company-wide efforts, stretches and challenges the organization, and possesses a finish line and a time frame.

Front 4

tactical plans def.

Back 4

specify hwo a company will use resources, budgets, and people to accomplish specific goals.

Front 5

Tactical plans (how used)

Back 5

used to direct behavior, efforts, and attention over the next six months to 2 years.

Front 6

Management by objectives (MBO)

Back 6

four-step process: 1. discuss possible goals, 2. participatively select goals that are challenging, attainable, and consistent with the company's overall goals. 3. jointly develop tactical plans that lead to the accomplishment of tactical goals and objectives. 4. meet regularly to review progress toward accomplishment of those goals

Front 7

Operation plans

Back 7

day-to-day plans for producing or delivering the organization's products and services

Front 8

Types of operational plans

Back 8

single-use plans
standing plans
budgets

Front 9

Single use plans

Back 9

deal with unique, one itme ony events

Front 10

Standing plans

Back 10

used repeatedly to handle frequently recurring events

Front 11

3 types of standing plans

Back 11

policies
procedures
rules and regulations

Front 12

budget

Back 12

quantitative planning becuase it forces managers to decide how to allocate available money to best accomplish company goals

Front 13

Policies

Back 13

indicate the genral course of action that company managers show take in repsonse to a particular event or situation

Front 14

Procedures

Back 14

more specific than policies because they indicate the series of steps that should be taken in response to a particular event.

Front 15

Rules and regulations

Back 15

specify what must happen or not happen.

Front 16

Decision Making

Back 16

process of choosing a solution from available alternatives

Front 17

Rational decision making

Back 17

systematic process in which managers define problems, evaluate alternatives and choose optimal solutions that provide maximum benefits to their organizations

Front 18

Problem

Back 18

exist when there is a gap between a desired state (what is wanted) and an existing state (the situation you are actually facing)

Front 19

Decision Criteria

Back 19

standards used to guide judgements and decisions

Front 20

Absolute Comparison

Back 20

process in which each decision criterion is compared to a standard or ranked on its own merits

Front 21

Relative comparisons

Back 21

process in which each decision criterion is compared directly to every other criterion

Front 22

bounded rationality

Back 22

decision-making process restricted in the real world by limited resources, incomplete and imperfect information, and managers' limited decision-making capabilities

Front 23

maximizing

Back 23

choosing the best alternative

Front 24

satisficing

Back 24

good enough alternative

Front 25

Group think

Back 25

barrier to good decision making caused by pressure within the group for members to agree with each other.

Front 26

Conditions of Group Think

Back 26

1. insulated from others with different perspectives
2. group leader begins by expressing a strong preference for a particular decision
3. there is no established procedure for systematically defining problems and exploring alternatives
4. group members have similar backgrounds and experiences

Front 27

C-Type Conflict (cognitive conflict)

Back 27

focuses on problem and issue-related differences of opinion

Front 28

A-Type Conflict (affective conflict)

Back 28

disagreement that focuses on individuals or personal issues

Front 29

devil's advocacy

Back 29

creates c-type conflict by assigning an individual or a subgroup the role of critic/

Front 30

5 Steps establish devial's advocacy program

Back 30

1. Generate a potential solution
2. Assign a devil's advocate to criticize and question the solution/
3. Present the critique of the potential solution to key decision makers
4. Gather additional relevant information
5. Decide whether to use, change or not use the originally proposed solution

Front 31

Dialectical inquiry

Back 31

creates c-type conflict by forcing decision makers to state the assumptions of a proposed solution (thesis) and then generate a solution that is opposite (antithesis) of the proposed solution

Front 32

5 steps of dialectical solution

Back 32

1. Generate a potential solution
2. Identify the assumptions underlying the potential solution
3. Generate a conflicting counter proposal based on the opposite assumptions
4. Have advocates of each position present their arguments and engage in a debate in front of key decision makers.
5. Decide whether to use, change, or not use the originally proposed solution

Front 33

Nominal Group Technique

Back 33

decision-making method that begins and ends by having group members quietly write down and evaluate ideas to be shared with the group

Front 34

Delphi Technique

Back 34

decision-making method in which members of a panel of experts respond to questions and to each other until reaching agreement on an issue

Front 35

Stepladder Technique

Back 35

decision-making method in which group members are added to a group discussion one at a time. The existing group members listen to each new member's thoughts, ideas, and recommendations; then the group shares the ideas and suggestions that it had already considered, discusses the new and old ideas, and makes a decision

Front 36

Brainstorming

Back 36

group member build on others' ideas to generate as many alternation solutions as possible

Front 37

Electronic brainstorming

Back 37

group members use computers to communicate and generate alternative solutions, overcomes the disadvantages associated with face-to-face brainstorming

Front 38

Production blocking

Back 38

disadvantage of face-to-face brainstorming in which a group member must wait to share an idea because another member is presenting an idea

Front 39

Evaluation apprehension

Back 39

fear of what other will think of your ideas