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91 Cards in this Set

  • Front
  • Back
The process of coordinating work activities effeciently and effectively with and through people
Doing things right. Resource usage and means.
Doing the right things. Goal attainment and ends.
Causes of business failure
"6% unknown, 1% neglect, 1% frud or disaster, 92% management errors"
Paradigm shifts
changing the way we view the world
Chaos theory
"Random change, unexpected events"
Work directly on a task; no responsibility for the work of others
1st line managers
Day-to-day operations; direct the work of operatives; eg. Supervisor or shift manager
Middle Managers
"Manage other managers; hardest position, assign resources, pressure from the top and questions from the bottom"
Top Managers
"Decisions about the direction of the organization. Small group of ppl including ceo, vp, and president."
Fayol's Managerial Functions: 5
"Plan, organize, coordinate, control, command"
Devise course of action
Get everything ready and in place for action
Make sure it all works together
Monitor the plans in action and measure the performance
Direct employees
Mintzberg's 3 Broad Categories
"Interpersonal, decisional, and informational"
Interpersonal roles
"Figurehead, Leader, and Liaison"
Informational Roles
"Monitor (watch for opportunities and threats), Disseminator (pass out the info), and Spokesperson (speaking to people outside the org or inside your unit)"
Decisional Roles
"Entrepreneur (seek improvement, initiate change), Disturbance handler (respond to change), Resource allocator (who gets what), Negotiator (tell people who get's what)."
Facts about managers: 3
"Managers work at an unrelenting pace, work characterized by brevity and variety, managers prefer action to reflection"
Managerial Role importance: Small firm
"High: Spokesperson, Med: Entrepreneur, figurehead, leader, Low: Disseminator"
Managerial Role importance: Large firm
"High: Resource Allocator, Med: Liaison, Monitor, disturbance handler, negotiator, Low: Entrepreneur"
Network Building
Meet Everyone!
Agenda Setting
Having a clear picture of what they wnt to accomplish and a set of priorities
Low level management has
Tech skills
Mid-level management has
"Human skills, dealing with managers above and below"
Top management has
Conceptual skills for deciding the direction of the firm
Most identified skills:
"Verbal communication, managing time and stress, managing individual decisions, recognizing and solving problems, and motivating others"
Scientific Management
"Find the single best way to accomplish work, do this through standardization"
Frederick Taylor (Scientific Management)
"Develop management as a science. Scientific selection training and development. Cooperation with workers and equal division tasks. Treats people as machines, ""Cogs have feelings too"""
"Frank and Lillian Gilbreth, Thirbligs Study"
"Motion study, classification scheme of successful hand motions"
Administrative Theory
"Find the single best way to structure organizations, generally went with bureaucracy. Fale's 14 principles of management in textbook."
Weberian Bureaucracy
"Clear division of labor. Hierarchy of positions. Formal selection based on tech qualifications. Formal rules and regulations give reliable predictable behavior. Impersonal, admin decisions based on performance. Separate mgt and ownership."
Org Behavior Approach
Focused on human behavior. Humanized the work force. Views human and social factors as most important. Based on motivation and leadership.
Military strategy from WWII. Based on a lot o math. General thrust: quantitative skills can be used for solving mgt problems.
Process approach
"Management performs the functions of planning, organizing, leading, and controlling."
Systems approach
The organization is composed of a set of interrelated and interdependent parts. Inputs --> Transformation --> Outputs
The tendency for a system to decay
The whole organization is greater than the sum of its parts
Contingency approach
The best way to do something is contingent on several key variables
The Learning Organization
Encourages openness and creativity. Like the advertising agencies.
Knowledge Management
Importance set on everyone having all the info.
Workplace spirituality
Encourage or discourage?
Classical approach
Good for repetitive tasks
Behavioral viewpoint
"Employees are people, how to people behave?"
Management Science
Good for quantifiable factors to get quantitative solutions
Production view
Looks at the external environment and culture. Suppliers --> The Firm --> Customers
Managerial View
"Suppliers --> Corporation and managers: Owners and employees --> customers, all with environment around it"
Stakeholder view
Puts the advantage of the stakeholder first
Shared attitudes and perceptions in an organization that are based on a set of fundamental values
Strong culture
"Pervades and organization, like starbucks. "
Effective Culture
Helps the organization w/ external adaptation and internal integration. Culture is considered valuable and is taught to new members.
Functions of culture
Supports strategy. Defines appopriate management behavior. Facilitates hiring. Defines ways to interact with stakeholders.
Multinational Corporation
Maintains significant operations in multiple countries but run from a home country
Transnational Corporation
Maintains significant operations in more than one country but is decentralized. Nationals hired to run operations in each country.
Borderless Orgnizations
Eliminates structural divisions that impose artificial geographic barriers. Tries to use the best practices from the whole world.
Parochial Managers
"Narrow view of the world, have an inability to recognize major differences between people."
Ethnocentric Managers
Recognize differences between people but believe that their home management practices are superior and can be exported.
Polycentric Managers
Believe all countries' management practices are different and they leave foreign offices alone.
Geocentric Managers
Accept both similarities and differences in management practices; attemp to strike a balance and find the best practices world wide.
50% of worlds exports come from
10 countries
Explanations of export concentration
1) inherited wealth 2) Natural resources 3) Cheap labor 4) Macroeconomic policies
Factor conditions
"The components of production needed to compete; includes human, physical, capital, and knowledge resources and infrastructure"
Factor Disadvantages
Problems with factor conditions often brings about innovation
Demand Conditions
The characteristics of domestic demand for the industry's product
Roles of companies
Create pressure for innovation. Seek out their toughest competitors. Develop early warning systems. Improve national diamond. Welcome domestic rivalry.
Corporate Social Responsibility
The obligation of managers to make decisions and take actions that enhance the welfare of both society and the organization.
Economic Responsibility
The responsibility of an organization to produce goods and services desired by society and earn a profit.
Legal Responsibility
Responsibility of an organization to obey the law.
Ethical Responsibility
The responsibility to make decisions with fairness and to respect people's rights.
Descretionary Responsibility
"The responsibility to make social contributions not required by economics, law, or ethics."
Programmed Decisions
"Repetitive decisions that can be handled routinely with procedures, rules, and policies."
Nonprogrammed Decisions
Unique decisions that require a custom-made solution.
Rational Decision Making Model
Objectives are known and have complete information. Criteria for alternatives is known. Just be a rational decision maker.
Bounded Rationality
Managers have limits or boundaries on how rational they can be because they have limited information and/or ability
Administrative Decision Making Model
"Bounded rationality, satisficing, intuition, and heuristics."
Choosing the first solution that meets minimum requirements.
A quick understanding of the situation and making a decision based on past experience.
"Rules of thumb based on representativeness, availability, & anchoring and adjustment."
Group Decisions Excel at
"Setting objectives and evaluating alternatives. Given suffecient time, information, participants, uncertain decisions, and subordinate development."
Group Decision Formats
"Interactive groups, nominal groups, and delphi groups."
Interactive Groups
Nominal Groups
Delphi Groups
Advantages of Groups
"Broader perspective, more knowledge, reduces uncertainty, and fosters supported decisions."
Disadvantageds of Groups
"Compromise decisions, time consumption, diffusion of responsibility, and groupthink."
Phenomenon in which group members withhold disagreements because they are more committed to the group than the decision.
Improving decision making
"Choose a devil's advocate, need multiple advocacy, dialetical inquiry, and brianstorming."
Specific Environment
Customers, suppliers, and competitors.
Key Factor Conditions
Specialized and advanced. Those companies that are in high end research, promote education in their field, etc.