Mgmt Exam 1

Front 1

Four Functions of Management

Back 1

-Planning
-Organizing
-Leading
-Controlling

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Three skills managers need to perform management functions

Back 2

-conceptual
-human
-technical

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Characteristics of managerial work

Back 3

-Variety, fragmentation, brevity
-Performing a great deal of work at an unrelenting pace

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Managers are expected to perform activities associated with which roles

Back 4

-Informational
-Interpersonal
-Decisional

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The workplace is organized around ------------ rather than vertical hierarchies.

Back 5

networks

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Classical Perspective

Back 6

a management perspective that emerged during the 19th and early 20th centuries that emphasized a rational, scientific approach to the study of management and sought to make organizations efficient operating machines

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Steps in crisis management

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1. Stay calm
2. Be visible
3. Put people before business
4. Tell the truth
5. Know when to get back to business

Front 8

Characteristics of a learning organization

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-Team-based structure
-Employee empowerment
-Open information

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enterprise resource planning (ERP)

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systems that weave together all of a company's major business funstions, such as order processing, porduct design, pruchasing, inventory, manufacturing, distribution, human resources, receipt of payments, and forecasting of future demand

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customer relationship management (CRM)

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systems that collect and manage large amounts of data about customers and make them available to employees, enabling better decision making and superior customer service.

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scientific management

Back 11

precise procedures developed after careful study of individual situations

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human resources perspective

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combines prescriptions for design of job tasks with theories of motivation

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behavioral sciences approach

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a subfield of the humanistic perspective that applies social science in an organizational context drawing from economics, psychology and other disciplines.

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total quality management

Back 14

focuses on managing the total organization to deliver quality to customers

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organizational environment

Back 15

all elements existing outside the organization's boundaries that have the potential to affect the organization

Front 16

general environment

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the layer of the external environment that affects the organization indirectly. includes technological, sociocultural, economic, legal-political, and international dimensions

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internal environment

Back 17

the environment that includes the elements within the organizations boundaries

Front 18

task environment

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the layer of the external environment that directly influences the organizations operations and performance; includes customers, competitors, suppliers, and the labor market

Front 19

boundary-spanning roles

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roles assumed by people and/or deparments that link and coordinate with key elements in the external environment

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Elements of corporate culture

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symbols, stories, heroes, slogans, ceremonies

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adaptability culture

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a culture characterized by values that support the company's ability to interpret and translate signals from the environment into new behavior responses

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achievement culture

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a results-oriented culture that values competitiveness, personal initiative, and achievement

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involvement culture

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a culture that places high value on meetin ghte needs of employees and values cooperation and equality

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consistency culture

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a culture that values and rewards a methodical, rational, orderly way of doing things.

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high-performance culture

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a culture based on a solid organizational mission or purpose in which adaptive values guide decisions and business practices and encourage individual employee ownership of both bottom-line results and the organizations cultural backbone

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management techniques for helping the organization adapt to the environment

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boundary spanning roles, interorganizational partnerships, and mergers and joint ventures

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licensing

Back 27

an entry strategy in which an organization in one country makes certain resources available to companies in another to be able to participate in the production and sale of its products abroad

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direct investing

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an entry strategy in which the organization is involved in managing its production facilities in a foreign country

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countertrade

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the barter of products for other products rather than their sale for currency

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franchising

Back 30

a form of licensing in which an organization provides its foreign franchises with a complete package of materials and services

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infrastructure

Back 31

a country's physical facilities that support economic activities

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power distance

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the degree to which people accept inequality in power among institutions, organizations, and people

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uncertainty avoidance

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a value characterized by people's intolerance for ambiguity and the resulting support for beliefs that promise certainty and conformity

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most favored nation

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a term describing a GATT clause that calls for member countries to grant other member countries the most favorable treatment they accord any country concerning imports and exports

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North American Free Trade Agreement

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agreement that breaks down tariffs and trade restrictions on most agricultural and manufactured products over a 15-yr period

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utilitarian approach

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the ethical concept that moral behaviors produce the greatest good for the greatest number

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individualism approach

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the ethical concept that acts are moral when they promote the individuals best long-term interests, which ultimately leads to the greater good.

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moral-rights approach

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the ethical concept that moral decisions are those that best maintain the rights of those people affected by them

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justice approach

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the ethical concept that moral decisions must be based on standards of equity, fairness, and impartiality

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distributive justice

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the concept that different treatment of people shoudl not be based on arbitrary characteristics. In the case of substantive differences, people should be treated differently in proportion to the differences among them

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procedural justice

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the concept that rules should be clearly stated and consistently and impartially enforced

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compensatory justice

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the concept that individuals should be compensated for the cost of their injuries by the party responsible and also that individuals should not be held responsible for matters over which they have no control

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Three levels of personal moral development

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1. Preconventional
2. Conventional
3. Postconventional

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stakeholder

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any group within or outside the organization that has a stake in the organization's performance

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The Shades of Corporate Green

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Bottom: Legal Approach
-Market Approach
-Stakeholder Approach
Top- Activist Approach

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Discretionary responsibility

Back 46

organizational responsibility that is voluntary and guided by the organization's desire to make social contributions not mandated by economics, law, or ethics

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Levels of Goals/Plans and Their Importance

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Bottom: Operational Goals/Plans
-Tactical Goals/Plans
-Strategic Goals/Plans
Top: Mission Statement

Front 48

Management by objectives (MBO)

Back 48

a method of management whereby managers and employees define goals for every department, project, and person and use them to monitor subsequent performance

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single use v. standing plans

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unlikely to be repeated, ongoing

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contingency plans

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plans that define company responses to specific situations, such as emergencies, setbacks, or unexpected

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three steps in the preparation stage

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1. designating a crisis management team and spokesperson
2. creating a detailed crisis management plan
3. setting up an effective communications system

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three stages of crisis management

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prevention
preparation
containment

Front 53

strategic management

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a specific type of planning in for-profit business organziations; typically pertains to competitive actions in the marketplace

Front 54

programmed decisions

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a decision made in response to a situation that has occurred often enough to enable decision rules to be developed and applied in the future

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nonprogrammed decisions

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a decision made in response to a situation that is unique, is poorly defined and largely unstructured, and has important consequences for the organization

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classical decision making model

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a decision-making model based on the assumtion that managers should make logical decisions that will be in the organization's best economic interest

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administrative decision making model

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a decision making model that describes how managers actually make decisions in situations characterized by nonprogrammed decisions, uncertainty, and ambiguity

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political decision making model

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useful for making nonprogrammed decisions when conditions are uncertain, information is limited, and managers may disagree about what goals to pursue or what course of action to take..

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6 steps in the managerial decision making process

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1. Recognition of Decision Requirement
2. Diagnosis and Analysis of Causes
3. Development of Alternatives
4. Selection of Desire Alternative
5. Implementation of Chosen Alternative
6. Evaluation and Feedback

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directive personal decision style

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used by people who prefer sumple, clear-cut solutions to problems

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analytical personal decision style

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used by people who like to consider complex solutions based on as much data as they can gather

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conceptual personal decision style

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like to consider a broad amount of information but are more socially oriented than those with an analytical style

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behavioral personal decision style

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the style adopted by managers having a deep concern for others as individuals.

Front 64

Vroom-Jago model

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a model designed to help managers gauge the amount of subordinate participation in decision making

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Decision approaches for turbulent times

Back 65

-Brainstorming
-Learn, Don't Punish
-Know When to Bail
-Practice the 5 Whys
-Engage in Rigorous Debate