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79 Cards in this Set
- Front
- Back
management
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1 the pursuit of organizational goals efficiently and effectively by 2 integrating the work of people through 3 planning, organizing, leading, and controlling the organization's resources
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efficiency
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the means -- attain the organizations goals; to be efficient means to use resources-people, money, raw materials, and the like - wisely and cost-effectively
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effectiveness
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the ends -- to be effective means to 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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multiplier effect
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your influence on the organization is multiplied far beyond the results that can be achieved by just one person acting alone
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competitive advantage
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is the ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them; must stay ahead in 4 areas: 1 being responsive to customers 2 innovation 3 quality and 4 efficiency
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managements 4 functions
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planning, organizing, leading, and controlling (POLC)
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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 (4 functions of management)
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monitoring performance, comparing it with goals, and taking corrective action as needed
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3 levels of management
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top managers, middle managers, and first-line managers
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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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inplement 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 managers
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are responsible for just one organizational activity (ex: vice pres of research and dev)
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general managers
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are responsible for several organizational activities (ex: managing several DEPARTMENTS)
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Henry Mintzberg
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studied 5 CEOs in the late 60s; findings: 1 a manager relies more on verbal than on written communication 2 a manager works long hours at an intense pace 3 a manager's work is characterized by fragmentation, brevity, and variety
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executive functioning
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the ability to manage oneself and on's resources in order to achieve a goal; ability to focus your thoughts, control your impulses, and avoid distractionso
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3 types of managerial roles
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interpersonal, informational, and decisional
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interpersonal roles (managerial roles)
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figurehead, leader, liaison -- managers interact with people inside and outside their work units
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informational roles (managerial roles)
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monitor, disseminator, and spokesperson -- managers receive and communicate with information with other people inside and outside the organization
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decisional roles (managerial roles)
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entrepreneur, disturbance handler, resource allocator, and negotiator -- managers use information to make decisions to solve problems or take advantage of opportunities
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entrepreneurship
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the process of taking risks to try to create a new enterprise
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the entrepreneur
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is someone who sees a new opportunity for a product of service and launches a business to try to realize it
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the intrepreneur
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is 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 (ex: google employees)
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3 principle skills to be a good manager
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be technical, conceptual, and human
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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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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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the ability to interact well with people to get things done
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toxic organizations
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firms with high turnover and low productivity
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ethical dilemma
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a 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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utilitarian approach
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is 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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is guided by what will result in the 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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is guided by respect for the fundamental right of human beings, such as those expressed in the US constitution's bill of rights
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justice approach
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is guided by respect for impartial standards of fairness and equity
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Ponzi scheme
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using cash from newer investors to pay off older ones
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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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ethical climate
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represents employees' perceptions about the extent to which work environments support ethical behavior
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code of ethics
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consists of a formal written set of ethical standards guiding an organization's actions
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whistle-blower
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an employee who reports organizational misconduct to the public
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social responsibility
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is a manager'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 (CSR)
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the notion that corporations are expected to go above and beyond following the law ans making a profit
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glass ceiling
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the metaphor for an invisible barrier preventing women and minorities from being promoted to top executive jobs
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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 on's native country, culture, language, abilities, or behavior is superior to that of another culture
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barriers to diversity
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1 stereotypes and prejudices 2 fear of reverse discrimination 3 resistance to diversity program priorities 4 unsupportive social atmosphere 5 lack of support for family demands 6 lack of support for career-building steps
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motivation
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the psychological processes that arouse and direct goal-directed behavior
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extrinsic rewards
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satisfaction in the payoff from others -- payoff, such as money, a person receives from others for performing a particular task
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intrinsic rewards
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satisfaction in performing the task itself -- the satisfaction, such as a feeling of accomplishment, a person receives from performing the particular task itself
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4 perspectives on motivation
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content, process, job design, and reinforcement
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content perspectives
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AKA need-based perspectives, are theories that emphasize the needs that motivate people
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needs
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physiological or psychological deficiencies that arouse behavior
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hierarchy of needs theory
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Maslow -- 5 levels of needs: 1 physiological, 2 safety 3 love 4 esteem 5 self-actualization
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Alderfer's ERG theory
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existence, relatedness, and growth
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existence needs (Alderfer's ERG theory)
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existence needs are the desire for physiological and material well-being
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relatedness needs (Alderfer's ERG theory)
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the desire to have meaningful relationships with people who are significant to us
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growth needs (Alderfer's ERG theory)
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the desire to grow as human beings and to use our abilities to their fullest potential
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frustration-regression component (Alderfer's ERG theory)
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if higher level needs are frustrated, we will seen more intensely to fulfill our lower level needs (ex: bill collector making phone calls having no contact with coworkers might lobby your boss for better pay and benefits)
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acquired needs theory (McClelland)
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three needs - achievement, affiliation, and power - are major motives determining people's behavior in the workplace
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two-factor theory (Herzberg)
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proposed that work saatisfaction and dissatisfaction arise from two different factors -- work satisfaction from motivating factors and work dissatisfaction from hygiene factors
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process perspectives
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are concerned with the thought processes by which people decide how to act
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equity theory
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focuses on employee perceptions as to how fairly they think they are being treated compared with others
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expectancy theory (Vroom)
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people are motivated by 2 things: 1 how much they want something and 2 how likely they think they are to get it
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expectancy Vroom
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the belief that a particular level of effort will lead to a particular level of performance
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instrumentality Vroom
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the expectation that successful performance of the task will lead to the outcome desired
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valence Vroom
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is value, the importance a worker assigns to the possible outcome or reward
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goal-setting theory
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suggests that employees can be motivated by goals that are specific and challenging but achievable
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goals should be... (goal-setting theory)
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specific, challenging, achievable, linked to action plans
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job design
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is 1 the dicision of an organizations work among its employees and 2 the application of motivational theories to jobs to increase satisfaction and performance
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job simplification
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the process of reducing the number of tasks a worker performs
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job enlargement
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consists of increasing the number of tasks in a job to increase variety and motivation
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job enrichment
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consists of building into a job such motivating factors as responsibility, achievement, recognition, stimulating work, and advancement
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job characteristics model
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consists of 1 five core job characteristics that affect 2 three critical psychological states of an employee that in turn affect 3 work outcomes -- the employee's motivation performance, and satisfaction
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Globalization
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the shift toward a more integrated, interdependent world economy
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globalization of markets
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the merging of separate national markets into a global marketplace. Firms that offer similar commodities worldwide will help create the global market; Examples: Coca Cola, McDonalds, Starbucks, and IKEA
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globalization of production
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sourcing goods and services from locations around the world to exploit national differences in cost and quality of factors of production, including energy, land, capital, and labor; Examples: Boeing
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limits to globalization of markets
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- Differences among national markets (especially food markets) cause issues in international franchises because different cultures have different tastes and preferences; food companies have especially hard time in international markets; Example: Cambells soup in Russia
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limits to globalization of production
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managing a global web of suppliers and production facilities is very complex; crisis's test supply chains weak links; Example: Japan's earthquake created product shortages, especially in electronics & automotive
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Globalization debate
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Positives of and concerns with Globalization
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