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40 Cards in this Set
- Front
- Back
what is management? |
getting work done through others |
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Efficiency |
getting work done with minimum effort, expense, or waste |
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Effectiveness |
accomplishing tasks that help fulfill organizational objectives |
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4 functions of management |
planning, organizing, leading, controlling |
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Top managers |
executives responsible for the overall direction of the organization |
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Middle managers |
Responsible for: •Setting objectives consistent with topmanagement’s goals •Planning and implementing subunit strategies for achieving the objectives •Plant manager, regional manager, or divisionalmanager |
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First-line managers |
Train and supervise the performance ofnonmanagerial employees who are responsiblefor producing a company’s goods and services •Responsibilities: Monitoring, teaching, andshort-term planning •Office manager, shift supervisor, or departmentmanager |
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Team leaders |
Managers responsible forfacilitating team activities toward goalaccomplishment |
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Scientific management |
Frederick W. Taylor: Father of scientificmanagement•Developed four principles of scientificmanagement•Introduced the time study •Time study: Time taken by good workers tocomplete each part of their jobs |
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Frank and Lillian Gilbreth |
Employed motion study to simplify work andimprove productivity •Motion study: Breaking each task or job intoits separate motions and then eliminatingthose that are unnecessary or repetitive |
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Gantt |
Gantt chart: Indicates what tasks must becompleted at which times in order to complete aproject |
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Bureaucratic management |
Max Weber: Proposed the idea ofbureaucracy •Bureaucracy: Exercise of control on the basis ofknowledge, expertise, or experience |
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Henri Fayol |
Division of work•Authority andresponsibility•Discipline•Unity of command•Unity of direction•Subordination ofindividual interests tothe general interests•Remuneration•Subordination ofindividual interests tothe general interests•Centralization, scalarchain•Order, equity•Stability of tenure ofpersonnel•Initiative•Esprit de corps |
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Mary Parker-Follett |
Mary Parker Follett •Developed the approach of integrative conflict resolution •Integrative conflict resolution: Approach to deal with conflict in which both parties indicate their preferences •Find an alternative that meets the needs of both parties |
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System |
Set of interrelated elements orparts that function as a whole |
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Operations management |
Eli Whitney: Manufacturing using standardized,interchangeable parts•Gaspard Monge: Techniques for drawing three-dimensional objects on paper •Oldsmobile Motor Work: Invented just-in-timeinventory systems |
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Contingency management |
Holds that there are no universal managementtheories |
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Systems management |
System is a set of interrelated elements or partsthat function as a whole Synergy occurs when subsystems produce morethan they can working apart |
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Stable environment |
Rate of change is slow |
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Dynamic environment |
rate of change is fast |
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Components of the General Environment |
economy, technology, Sociocultural- includes demographic characteristics, general behavior, attitudes, and beliefs of people in a particular society, political/legal |
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Components of the Specific Environment |
customers, competitors, suppliers, industry regulation, advocacy group |
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Factors that influence successful cultures |
Adaptability, involvement, Clear mission, consistency |
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US Sentencing Commission Guidelines for Organizations |
Companies can be prosecuted and punished for their unethical behavior •Cover offenses defined by federal laws •Encourage companies to take proactive steps that will discourage white-collar crime •Give companies an incentive to cooperateand disclose illegal activities to federal authorities |
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Shareholder model |
Organization’s overriding goal should be profit maximization for the benefit of shareholders |
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Stakeholder model |
Management’s most important responsibility islong-term survival•Achieved by satisfying the interests ofmultiple corporate stakeholders |
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Reactive strategy |
Company does less than society expects |
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Defensive strategy |
Company admits responsibility for a problem but does theleast required to meet societal expectations |
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Accommodative strategy |
Company accepts responsibility for a problem and does allthat society expects to solve that problem |
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Proactive strategy |
Company anticipates a problem before it occurs and doesmore than society’s expectations |
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Stakeholders |
people affected by the business and decisions it makes |
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Steps to ethical decision making |
Selecting and hiring ethical employees •Establishing a specific code of ethics •Training employees to make ethical decisions •Creating an ethical climate |
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Benefits of planning |
Employees put forth greater effort when following a plan •Leads to persistence •Provides direction •Encourages the development of task strategies •Works for companies and individuals |
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Pitfalls |
Impedes change and prevents needed adaptation •Creates a false sense of certainty •Detachment o fplanners |
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Steps for effective planning |
1. set goals 2. develop commitment 3. develop effective action plans 4. track progress toward goal achievement 5. maintain flexibility |
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Guidelines for good goal making |
S-specific M-measurable A-attainable R-realistic T-timely |
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Competitive advantage |
Organizations can achieve a competitive advantage by using their resources toprovide greater value for customers thancompetitors can |
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How does a competitive advantage become sustainable? |
when other companies cannot duplicate the value a firm is providing to customers |
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Portfolio strategy |
Minimizes risk by diversifying investment among various businesses or product lines |
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Porter's five industry forces |
1.Competition in the industry 2. Potential of new entrants into the industry 3. Power of suppliers 4. Power of customers 5. Threat of substitute products. |