Test 1 Management

Front 1

Knowledgemanagement

Back 1

practices aimed at discovering and harnessing anorganization’s intellectual resources

Front 2

Innovation

Back 2

theintroduction of new goods and services; a change in method or technology; apositive, useful departure from previous ways of doing things; also improvementor enhancement of existing goods and services

Front 3

Quality

Back 3

the excellence of your product (good or service)

Front 4

Service

Back 4

thespeed and dependability with which an organization delivers what customers want

Front 5

Speed

Back 5

fastand timely execution, response, and delivery of results

Front 6

Cost competitiveness

Back 6

keepingcosts low to achieve profits and be able to offer prices that are attractive toconsumers

Front 7

Sustainability

Back 7

theeffort to minimize the use of resources, especially those that are pollutingand nonrenewable

Front 8

Managment

Back 8

the process of working with people and resources toaccomplish organizational goals

Front 9

Planning

Back 9

themanagement function of systematically making decisions about the goals andactivities that an individual, a group, a work unit, or overall organizationwill pursue; see also strategic planning

Front 10

Value

Back 10

themonetary amount associated with how well a job, task, good, or service meetsusers’ needs

Front 11

Organizing

Back 11

themanagement function of assembling and coordinating human, financial, physical,informational, and other resources needed to achieve goals

Front 12

Leading

Back 12

themanagement function that involves the manager’s efforts to stimulate highperformance by employees

Front 13

Controlling

Back 13

the management function of monitoring performance and makingneeded changes

Front 14

Top-level managers

Back 14

seniorexecutives responsible for the overall management and effectiveness of theorganization

Front 15

Middle-level managers

Back 15

managerslocated in middle layers of the organizational hierarchy, reporting, to toplevel executives

Front 16

Front-line managers

Back 16

lower-level managers who supervise the operational activities of the organization

Front 17

Technical skill

Back 17

the ability to perform a specialized task involving aparticular method or process

Front 18

Conceptualand decision skills

Back 18

skillspertaining to the ability to identify and resolve problems for the benefit ofthe organization and its members

Front 19

Interpersonaland communication skills

Back 19

people skills, the ability to lead, motivate, andcommunicate effectively with others

Front 20

Emotionalintelligence

Back 20

the skills of understanding yourself, managing yourself, anddealing effectively with others

Front 21

Socialcapital

Back 21

Goodwill stemming from your social relationships; acompetitive advantage in the form of relationships with other people and theimage other people have of you

Front 22

Opensystems

Back 22

organizationsthat are affected by, and that affect, their environment

Front 23

Inputs

Back 23

goodsand services organizations take in and use to create products or services

Front 24

Outputs

Back 24

theproducts and services organizations create

Front 25

Externalenvironment

Back 25

allrelevant forces outside a firm’s boundaries, such as competitors, customers,the government, and the economy

Front 26

Competitiveenvironment

Back 26

theimmediate environment surrounding a firm; includes suppliers, customers,rivals, and the like

Front 27

Macroenvironment

Back 27

thegeneral environment; includes governments, economic conditions, and otherfundamental factors that generally affect all organizations

Front 28

Demographics

Back 28

measuresof various characteristics of the people who make up groups or other socialunits

Front 29

Barriersto entry

Back 29

conditionsthat prevent new companies from entering an industry

Front 30

Switchingcosts

Back 30

fixedcosts buyers face when they change suppliers

Front 31

Environmentaluncertainty

Back 31

whenmanagers do not have enough information about the environment to understand orpredict the future

Front 32

Environmentscanning

Back 32

searchingfor and sorting through information about the environment = competitiveenvironment

Front 33

Competitiveintelligence

Back 33

information that helps managers determine how to competebetter

Front 34

Scenario

Back 34

anarrative that describes a particular set of future conditions

Front 35

Forecasting

Back 35

methodfor predicting how variables will change the future

Front 36

Benchmarking

Back 36

theprocess of comparing an organization’s practices and technologies with those ofother companies

Front 37

Strategicmaneuvering

Back 37

anorganization’s conscious efforts to change the boundaries of its taskenvironment

Front 38

Domainselection

Back 38

entering a new market or industry with an existing expertise

Front 39

Diversification

Back 39

a firm’s investment in a different product, business, orgeographic area

Front 40

Merger

Back 40

oneor more companies combining with another

Front 41

Acquisition

Back 41

onefirm buying another

Front 42

Divestiture

Back 42

afirm selling one or more businesses

Front 43

Prospectors

Back 43

companiesthat continuously change that boundaries for their task environments by seekingnew products and markets, diversifying and merging, or acquiring newenterprises

Front 44

Defenders

Back 44

companiesthat stay within a stable product domain as a strategic maneuver EXAMPLE:Staples

Front 45

Empowerment

Back 45

theprocess of sharing power with employees, thereby enhancing their confidence intheir ability to perform their jobs and their belief that they are influentialcontributors to the organization

Front 46

Buffering

Back 46

creatingsuppliers of excess resources in case of unpredictable need

Front 47

Smoothing

Back 47

levelingnormal fluctuations at the boundaries of the environment

Front 48

Flexibleprocesses

Back 48

methodsfor adapting the technical core to changes in the environment = customizedproducts

Front 49

Organizationalclimate

Back 49

the patterns of attitudes and behavior thatshape people’s experience of an organization

Front 50

Programmeddecisions

Back 50

decisionsencountered and made before, having objectively correct answers, and solvableby using simple rules, policies, or numerical computations

Front 51

Nonprogrammeddecisions

Back 51

new, novel, complex decisions having no proven answers

Front 52

Certainty

Back 52

the state that exists when decision makers have accurate andcomprehensive information

Front 53

Uncertainty

Back 53

thestate that exists when decision makers have insufficient information

Front 54

Risk

Back 54

the state that exists when the probability of success isless than 100 percent and losses may occur

Front 55

Conflict

Back 55

opposingpressures from different sources, occurring on the level of psychologicalconflict or conflict between individuals or groups

Front 56

Custom-madesolutions

Back 56

new,creative solutions designed specifically for the problem

Front 57

Contingencyplans

Back 57

alternativecourses of action that can be implemented based in how the future unfolds

Front 58

Maximizing

Back 58

a decisionrealizing the best possible outcome

Front 59

Satisficing

Back 59

choosingan option that is acceptable, although not necessarily the best or perfect

Front 60

Optimizing

Back 60

achievingthe best possible balance among several goals

Front 61

Vigilance

Back 61

a processin which a decision maker carefully executes all stages of decision making

Front 62

Illusionof control

Back 62

people’sbeliefs that they can influence events even when they have no control over whatwill happen

Front 63

Framingeffects

Back 63

a decision bias influenced by the way in which a problem ordecision alternative is phrased or presented

Front 64

Discountingthe future

Back 64

a biasweighting short-term costs and benefits more heavily than longer-term costs andbenefits

Front 65

Groupthink

Back 65

a phenomenonthat occurs in decision making when group members avoid disagreement as theystrive for consensus

Front 66

Goal Displacement

Back 66

a decision-makinggroup loses sight of its original goal and a new, less important goal emerges

Front 67

Cognitive Conflict

Back 67

issued-baseddifferences in perspectives or judgements

Front 68

Affective Conflict

Back 68

emotionaldisagreement directed toward other people

Front 69

Devil's Advocate

Back 69

a personwho has the job of criticizing ideas to ensure that their downsides are fullyexplored

Front 70

Dialectic

Back 70

a structureddebate comparing two conflicting courses of action

Front 71

Brainstorming

Back 71

a processin which group members generate as many ideas about a problem as they can;criticism is withheld until all ideas have been proposed

Front 72

The fundamental success drivers of performance are

Back 72

Innovation, quality, service, speed, cost competitiveness, and sustainability

Front 73

Managing for Competitive Advantage

Back 73

Innovation, quality, service, speed, cost competitiveness, and sustainability

Front 74

Total Quality

Back 74

Preventing defects before they occur, achieving zero defects

Front 75

Quality can be measured in terms of

Back 75

product performance, customer service, reliability (avoidance of failure or breakdowns), conformance to standards, durability, and aesthetics

Front 76

Planning #2

Back 76

Specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve these goals

Front 77

Functions of Management

Back 77

planning, organizing, leading, and controlling

Front 78

leading involves close day-to-day contact with people

Back 78

helping to guide and inspire them toward achieving team and organizational goals.

Front 79

Leading take place in

Back 79

Teams, departments, and divisions as well as at the tops of large organizations

Front 80

Top-level managers or Strategic managers

Back 80

are supposed to focus on long-term issues and emphasize the survival, growth, and overall effectiveness of the organization

Front 81

Middle-level managers or tactical managers

Back 81

are responsible for translating the general goals and plans developed by strategic managers into more specific objectives and activites

Front 82

Front-line managers or operational managers

Back 82

are lower-level managers you supervise the operations of the organization

Front 83

The technical skills you learn in school will provide you with

Back 83

the opportunity to get an entry-level position

Front 84

A common complaint about leaders, especially newly promoted ones who had been outstanding individual performers,

Back 84

is that they lack what is perhaps the most fundamental of EQ skills: empathy. the issue is not lack of ability to change (you can), but the lack of motivation to change.

Front 85

Specialist

Back 85

you should be an expert in something useful

Front 86

Generalist

Back 86

Knowing enough about a variety of disciplines so that you can think strategically and work with different perspectives

Front 87

The first question to consider is this:

Back 87

Who is the competition?

Front 88

Major barriers to entry are

Back 88

Government policy, capital requirement, brand identification, cost disadvantages, an distribution channels

Front 89

Substitute

Back 89

is a potential threat; customers use it as an alternative buying less of one kind of product but more of another

Front 90

Complement

Back 90

is a potential opportunity because customers buy more of a given product if they also demand more of the complementary product

Front 91

Suppliers can

Back 91

raise their prices or provide poor-quality goods and services

Front 92

Organizations are at a disadvantage if they become overly dependent on any powerful supplier.

Back 92

A supplier is powerful if they buyer has few other sources of supply or if the supplier has many other buyers.

Front 93

Dependence also results form high switching costs

Back 93

the fixed cost buyers face if they change suppliers

Front 94

Customers are important to organizations for reasons other than the money

Back 94

they provide for goods and services

Front 95

Customers can demand

Back 95

lower prices, higher quality, unique product specifications, or better service

Front 96

The internet has

Back 96

empowered customers further

Front 97

Managers can ask questions such as these:

Back 97

Who are our customer competitors?

Are there few or many entry barriers to our industry?

What substitutes exist for our product or service?

Is the company too dependent on powerful suppliers?

Is the company too dependent on powerful customers?

Front 98

Business practices

Back 98

how a company responds to problems, makes strategic decisions, and treats employees and customers tells a lot about what top management really values

Front 99

Symbols, rites, and ceremonies

Back 99

how the high rigid the hierarchy. who is fired and who is hired

Front 100

The phases of decision making

Back 100

identifying and diagnosing the problem, generating alternative solutions, evaluating alternatives, making the choice, implementing the decision, and evaluating the decision. starts over

Front 101

Four challenges in managing in the New Competitive Landscape

Back 101

1. Globalization

2. Technological Change

3. Knowledge Management

4. Collaboration across Boundaries

Front 102

Globalization

Back 102

offices all over the world, production facilities in countries

Front 103

Technological Change

Back 103

Internet

Front 104

Knowledge Management

Back 104

a move from manual labor to knowledge workers, knowledge workers - decision making capability, knowledge solving skills: KSA = Knowledge, Skills, Advantage

Front 105

Collaboration across Boundaries

Back 105

to ensure that people in different parts of the organization collaborate efficiently with one another

Front 106

Competitive Advantage

Back 106

An advantage over competitors

Front 107

Six fundamental success drivers

Back 107

1. innovation

2. quality

3. service

4. Speed

5. Cost Competitiveness

6. Sustainability

Front 108

Quality can be measured in terms of

Back 108

1. product performance

2. customer service

3. reliability

4. Conformance to Standard

5. Durability

6. aesthetics

Front 109

Aesthetics

Back 109

sight, sound, feel of a product

Front 110

Four functions of management

Back 110

planning, organization, leading, and controlling

Front 111

Three Management Levels

Back 111

1. top or strategic

2. middle or tactical

3. front line or operational

Front 112

Three Management skills we need/must have

Back 112

1. Technical skill

2. Conceptual and decision skills

3. interpersonal and communication skills aka people skills