Mqm 220 Test 1

Front 1

Organizations

Back 1

structural arrangements of people brought together to accomplish a goal or goals.

Front 2

market

Back 2

place where buyers and sellers congregate to bid on products or services.

Front 3

efficiency

Back 3

using the minimum resources necessary to produce a product or service.

Front 4

effectiveness

Back 4

the ability of the organization to achieve a goal or goals.

Front 5

organizational performance

Back 5

an outcome that assesses the degree to which an organization is both efficient in using resources and effective in attaining stated goals.

Front 6

system

Back 6

a collection of interrelated entities (subsystems) that operate interdependently to achieve common goals.

consists of 3 subsystems: input, processing, and output

Front 7

IPO

Back 7

an input subsystem, such as purchasing, ensures that resources are available to produce the product or service. A processing subsystem creates the good or service. An output subsystem makes the product or service available to distributors or customers.

Front 8

evolutionary activity

Back 8

activity that occurs gradually over long periods of time.

Front 9

revolutionary activity

Back 9

activity that occurs periodically to forever alter the nature of business transactions

Front 10

agrarian economy

Back 10

economies prevalent before 1830 that were based on small, family owned farms and small shop production.

Front 11

industrial economy

Back 11

(1830-1950)...ushered in by technological revolutions, beginning with the invention of steam power, which created the the energy necessary for mass production.

Front 12

knowledge economies

Back 12

based on information and intangibles such as computer software and financial services.

Front 13

management

Back 13

a process of achieving organizational goals and objectives through the efforts and contributions of other people

planning, organizing, leading, and controlling

Front 14

managers

Back 14

individuals who use principles of management to guide, direct, or oversee the work and performance of others

Front 15

planning

Back 15

planning activities determine an organization's objectives and establish appropriate strategies for achieving them.

Front 16

organizing

Back 16

used to create a structure of task and authority relationships that supports the attainment of organizational goals.

Front 17

leading

Back 17

the process of influencing and persuading people to attain organizational goals.

focuses directly on the employees in the organization.

Front 18

controlling

Back 18

requires 3 elements: established standards of performance, identify deviations between actual performance and the established standards, and action to correct performance that fails to meet the standards.

Front 19

first line management

Back 19

managers who are responsible for the organization's basic work; often called supervisors, managers, or foremen

Front 20

middle management

Back 20

managers who plan, organize, control, and lead the activities of other managers and who are subject to the management of a superior

Front 21

top management

Back 21

a small group of senior executives (usually including a chief executive officer, president, or vice president) who are responsible for the performance of the entire organization.

Front 22

managerial skills

Back 22

an ability or proficiency in performing a particular task. Various skills classifications are important in performing managerial roles.

Front 23

Technical skills

Back 23

the skill that enables someone to use specific knowledge, techniques, and resources in performing work.

Front 24

analytical skills

Back 24

enables someone to analyze or logically diagnose even complex problems.

Front 25

decision making skills

Back 25

enables a manager to make the appropriate decisions for achieving the organization's goals.

Front 26

computer skills

Back 26

the ability to use business software and related technology.

Front 27

people skills

Back 27

ability to work with, communicate with, and understand others.

Front 28

communication skills

Back 28

involve the ability to communicate in ways that other people understand and to seek and use feedback from employees to ensure that the manager is understood.

Front 29

conceptual skills

Back 29

the ability to see the big picuture--how each part of the organization fits and interacts with other parts to accomplish goals.

Front 30

interpersonal roles

Back 30

figurehead, leader, and liaison...focus on interpersonal relationships

Front 31

informational role

Back 31

establishes the manager as the central point for recieving and sending information.

monitor role, disseminator role, spokesperson role

Front 32

monitor role

Back 32

involves examining the environment to discover information, changes, opportunities, and problems that may affect the unit.

Front 33

disseminator role

Back 33

involves providing important or privileged information to subordinates.

Front 34

spokesperson role

Back 34

the manager represents the unit to other people.

Front 35

decisional role

Back 35

the role of manager acting as entrepreneur, disturbance handler, resource allocator, and negotiator.

Front 36

entrepreneurial role

Back 36

to improve the unit.

Front 37

disturbance handler role

Back 37

managers make decisions or take corrective action in response to pressures beyond their control.

Front 38

resource allocator role

Back 38

a manager decides who gets which resources (money, people, time, and equipment)

Front 39

classical management

Back 39

a management theory that emphasized greater workforce productivity.

Front 40

scientific management

Back 40

a management theory that concentrates on increasing workforce productivity.

Front 41

classical organization theory

Back 41

a theory that concentrates on top level managers and problems of managing the entire organization.

Front 42

Frederick W. Taylor

Back 42

called the father of scientific management, was an engineer by training.

Front 43

human relations approach

Back 43

focuses on individuals working in group settings. Managers and workers are studied in relation to what occurs within the group.

Front 44

Hawthorne studies

Back 44

famous studies conducted by Elton Mayo at Hawthorne Works of Western Electric in Cicero, Illinois; initially aimed to determine the relationship between the intensity of illumination and efficiency of two groups of workers.

Front 45

Hawthorne effect

Back 45

The unexpected results of the Hawthorne studies indicated that productivity increased in relation to the presence and attention of the researchers.

Front 46

behavioral science

Back 46

advocates believe that workers are much more complex than the economic man described in the classical approach or the social man described in the human relations approach.

Front 47

decision sciences

Back 47

modern management theories decision making, information systems, mathematics, and statistics to aid in making decisions.

Front 48

systems theory

Back 48

a way of thinking about organizations and management problems from a systems point of view.

Front 49

synergistic effect

Back 49

the sum total effect of all systems components, as in an organization in which each of its parts perfoms a specific function.

Front 50

internal environment

Back 50

the set of factors within an enterprise that influence how work is done and how goals are accomplished and that, taken together, create a culture within the organization

Front 51

dominant culture

Back 51

the core values shared by most of the employees in an organization; for example, Disney's emphasis on quality goods and services.

Front 52

organization socialization

Back 52

managers and coworkers offer consistent help to newcomers in developing skills and evolving into accepted team members who understand and are committed to the firm's culture.

Front 53

values

Back 53

the set of convictions that

Front 54

Direct forces

Back 54

direct forces exert an immediate and daily impact on the organization. These forces include competitors, employees, customers, and suppliers.

Front 55

Indirect forces

Back 55

Forces in the external environment that influence an organization, but not directly in its daily operations; categorized as social-cultural, economic, global, technological, and political-legal.

Front 56

environmental scanning

Back 56

the process of collecting information concerning forces in the management environment. Scanning involves gathering information through observation; reviewing business, trade, and government publications; and engaging in research efforts.

Front 57

environmental analysis

Back 57

the process of assessing and interpreting the information gathered through environmental scanning. A manager reviews the information for accuracy, tries to reconcile inconsistencies in the data, and interprets the findings. Analysis allows a manager to discern changes in the environment and, if possible, to predict trends and changes.

Front 58

changing domain

Back 58

organizations can decide where they will do business and what they will produce and market.

Front 59

recruiting

Back 59

one way to manage uncertainty is by hiring top employees from a major competitor.

Front 60

buffering

Back 60

input buffering manages the flucuations caused by the interruption of supplies of materials needed to manufacture the product.

In output buffering, finished goods are warehoused until they can be absorbed by the environment.

Front 61

smoothing

Back 61

a method of maintaing continuous demand for a product or service.

Front 62

rationing

Back 62

a way of ensuring that all their time is productive.

Front 63

external strategies

Back 63

organization attempts to change environmental circumstances, thereby reducing environmental uncertainty.

Front 64

advertising

Back 64

used to signal price changes, new product features, or new locations. Also used to provide information, create brand recognition, and encourage consumer demand.

Front 65

contracting

Back 65

contracting is a mutually beneficial arrangement. The purpose of the contract is to reduce the uncertainty on both sides of the buyer-seller relationship. The buyer is assured a set price for the contract, and the seller has a guaranteed buyer

Front 66

co-opting

Back 66

an attempt to influence an external party.

Front 67

coalescing

Back 67

an alliance of several organizations, bound by common purpose, taking a united action.

Front 68

lobbying

Back 68

an attempt to influence a decision maker...the act of influencing a public official to understand and appreciate an organization's or industry's perspective on an issue of mutual concern.

Front 69

social responsibility

Back 69

the awareness that business activities have an impact on society and the consideration of that impact in decision making.

Front 70

Occupational safety and Health Administration

Back 70

passed in 1970, federal legislation whose primary purpose is to ensure safe working conditions by establishing standards with which employers must comply.

Front 71

international business

Back 71

the performance of business activities across national boundaries, which have increased steadily since World War II and are expected to continue growing in the twenty-first century.

Front 72

international management

Back 72

the performance of the management process in an international business setting.

Front 73

global outsourcing

Back 73

the strategic use of external resources by a firm to perform activities that were previously handled internally.

Front 74

Multinational company

Back 74

an organization conducting business in two or more countries. MNC's are often based in one country, with operations, production facilities, and/or sales subsidiaries in other countries.

Front 75

global corporation

Back 75

an oranization that operates as if the world were a single market, and it has corporate headquarters, manufacturing facilities, and marketing operations throughout the world.

Front 76

exporting

Back 76

the simplest way to enter international business...selling domestic goods to a foreign country.

Front 77

licensing

Back 77

an agreement in which one firm (the licensor) allows another (the licensee) to sell the licensor's product and use its brand name, and requires the licensee to pay the licensor a commission or royalty.

Front 78

trading companies

Back 78

not involved in the manufacturing process, they are simply intermediaries that take title to products and undertake all the activities required to move products from the domestic country to customers in a foreign country.

Front 79

countertrading

Back 79

involves complex bartering agreements between two or more countries.

Front 80

joint ventures

Back 80

a partnership between a domestic and a foreign firm.

Front 81

strategic alliance

Back 81

the combination of two firm's resources in a partnership that goes beyond the limits of a joint venture and for which trust is the major requirement.

Front 82

direct ownership

Back 82

(purchasing one or more business operations in a foreign country). Direct ownership requires a large investment in production facilities, research, personnel, and marketing activities.

Front 83

quota

Back 83

a limit on the amount of a product that can leave or enter a country; sometimes voluntary.

Front 84

embargo

Back 84

prohibition of the import or export of certain goods; for example, the Muslim nations' embargo on the importation of alcoholic beverages.

Front 85

duty

Back 85

a tax that is placed on an import or export.

Front 86

customs and entry procedures

Back 86

procedures that govern the inspection, documentation, and licensing of imports.

Front 87

Webb-Pomerene Export Trade Act (1918)

Back 87

exempts U.S. firms from antitrust laws if they are acting together to develop international trade.

Front 88

Foreign Corrupt Practices Act (1977)

Back 88

Forbids bribing foreign officials to obtain sales for American firms.

Front 89

Export Trading Companies Act (1982)

Back 89

Encourages the formation of export trading companies by eliminating antitrust barriers and allowing banks to participate in such ventures.

Front 90

General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO)

Back 90

formed in 1947 by 23 nations to reduce or eliminate tariffs and other barriers to international trade

128 countries, including the United States and Japan

Front 91

European Union (EU)

Back 91

founded in 1957 to reduce barriers among members

Front 92

Latin American Free Trade Association (LAFTA)

Back 92

founded in 1960 to develop free trade among member nations

Front 93

European Free Trade Association (EFTA)

Back 93

founded in 1960 to eliminate trade restrictions among members and develop common trade policies.

Front 94

Organization of Petroleum Exporting Countries (OPEC)

Back 94

established in 1960 to provide oil-producing nations control over prices and reduce the oversupply of oil

Front 95

International Monetary Fund

Back 95

founded in 1944 to promote trade among member nations by eliminating trade barriers and increasing cooperation on financial issues.