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25 Cards in this Set
- Front
- Back
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4 Managerial Roles |
Organizing, planning, strategizing, controlling |
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Types of management |
general, functional, front-line |
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3 types of skills |
technical, HR, conceptual |
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Mintzburg's 10 managerial roles |
entrepreneur, disturbance handler, resource allocator, spokesperson, figurehead, decision maker, negotiator, monitor, liaison, disseminator of information |
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6 things affecting the external environment |
political and legal decisions, technology, sociocultural, macroeconomic, industrialization/globalization, demographic' |
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Porter's 5 (6) forces |
ease of entry, threat of substitution, power of buyers, power of suppliers, intensity of rivalry, complementors |
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2 different types of resources, example of each |
Tangible - building, money, equipment Intangible - skills of staff, company reputation |
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EVLN model & explain |
exit voice loyalty neglect |
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internal environment is focused on |
culture, resources (tang and intangible) |
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Attrition |
rate of voluntary departure |
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Sean;s ethical decision-making flow chart: |
Am I breaking any rules - would my boss be upset - what if the newspaper ran that on the front page |
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4 principles of CSR |
-Environmental degredation/pollution -Workers conditions substandard -Opportunistic exploitation -Information manipulation |
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7 steps to promote ethical behaviour |
-Establish an ethics office -Have leaders promote ethical behaviour -Develop strong governance processes -Promote moral courage -Consider ethical aspects of business decisions -Promote an ethical organizational culture -Hire and promote ethical individuals |
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5 steps of planning |
check goals, identify actions, assign responsibility, review, revise |
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4 types of plan |
strategic plan - for enterprise corporate plan - plan for the industries in which firm competes Business level - how org competes in industry Operating plan - For departments within functions |
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6 types of plan |
Tactical plan Single use Standing plan Contingency plan Vision Action plan |
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SMART goals |
specific measurable attainable realistic time-bound |
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3 difficulties of planning |
planning is too centralized might not change basic assumptions not implemented |
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Difference between satisfice and optimize |
ok |
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Rational decision-making model |
Define the problem establish criteria weight criteria determine alternatives choose alternative by weighting on criteria implement and evaluate adjust |
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9 limitations in decision making |
satisfice bounded rationality heuristics escalation of commitment illusion of control representativeness framing bias prospect theory groupthink |
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ways to get around bounded decision making |
devil's advocate outside views |
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define strategy |
an action managers take to obtain the goal of an organization |
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2 parts of value chain + explain |
primary - r+d, production, marketing, service (fundamental) secondary - logistics, procurement, IS, HR |
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3 competitive tactics |
1. diversification 2. unrelated diversification 3. vertical integration |
