ARE 112 Midterm 2 – Flashcards
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Coercive Power
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the power to punish Ex: Peach had the power to close the plant
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Legitimate Power
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the power granted by some authority Ex: {Lou drinking on plane}
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Expert Power
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the power of have some specific skill or knowledge not found in others Ex:{Jonah, Ralph the IT guy} [see power through authority]
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Referent power
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the power from admiration or respect [most important power] Ex:{Alex, people liked him}
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Reward Power
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the power from being able to provide a reward to others
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Change Management
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is an approach to transiting people/organizations to a desired future state • Reasons for change: Globalization & Innovative Technology • Why change occurs • Threats to the change process •Power: Used to change beliefs and/or behavior - or attempts to do so •Change Methods
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Why Change occurs?
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(this is more related to incremental changes than transformational changes) • Dissatisfaction with the present situation {Internal Change} • External pressures toward change • Momentum toward change {after the change process has started/ getting on the wagon}
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Threats to the Change Process
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• Degree of change • Time frame • Impact of culture • Loss of existing benefits • Threat to position power • Threat to security • Redistribution of power • Disturb existing social networks • Uncertainty regarding change • Disruption of routine
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Method of Change management: Phases
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1. Unfreezing - prepare for change {everything is open for change, block of ice into fluid} 2. Changes 3. Refreezing - change is stabilize {we want the change to stay, time frame} {All the problems for change start to pop up}
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Method of change management: Crossover
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Crossover approach {time between A & B is going to be less than a week} [very quick change]
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Change strategies
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{How are we going to get this done?} {Which one is going to work best} • Force-Coercion • Rational Persuasion • Shared Power
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Force-Coercion
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Def: Use of formal authority to create change Power Base: Legitimate, Reward, Coercive Managerial Behavior: Direct forcing, Political maneuvering Likely Results: Faster but may only be temporary
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Rational Persuasion
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Def: Creating change thru rational & empirical arguments Power Base: Expertise Managerial Behavior: Informational Efforts Likely Results: Highly variable depending on acceptance of change {Duk Childrens Hospital}
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Shared Power
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Def: Developing support thru personal values, beliefs, & commitments Power Base: Referent Managerial Behavior: Participative efforts Likely Results: Slower, but able to internalize the changes {what Alex did} [No one is the boss, but I'm the leader]
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Headcount
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as a critical success factor--CSF
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Dashboard
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think of a car dashboard/ important things Ex: Headcount, Average Revenue per Employee, Employee Satisfaction Survey Alert Status, Headcount by Dept, Attrition Rate
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SKA's
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Skills: task oriented Knowledge: long term Abilities: is what you got, hire on/ task oriented jobs
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Business process reengineering (BPR)
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Not a transformational process but an operational process of identifying the "business processes" from a clean slate and determining how the processes can be made more efficient and effective. Usually focused on the supply chain and enabling information technology.
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Restructuring
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Reorganizing the legal, ownership, operational, or other structures of a organization for optimizing reasons: profits, bankruptcy, mergers, spinoffs, government regulations, financing, rebranding. Examples: ATT breakup, Phillip Morris → Kraft Foods and tobacco products, even the "Race to the Top" educational initiative can be seen as restructuring. Tends to be a zero-sum game: "Running away, not running to"
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Downsizing
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Rightsizing
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Smartsizing
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Suboptimization
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Attempting to optimize a unit of a larger system that results in a suboptimal result for the entire organization.
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Protected classes
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--Know at least 4
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Theories of discrimination
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1. Adverse or disparate treatment 2. Adverse or disparate impact
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Adverse or disparate treatment
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a. Disparate(legal) or Adverse(English term) Treatment [females don't apply to this, explicit]
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Adverse or disparate impact
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(requirement had an impact on them) [artificial barrier]
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Types of harassment
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a. Sexual Harassment (has to be sexual intent and hostel work place) b. Racial or Ethnic Harassment (same has to action and hostel work place)
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Exempt and nonexempt employees
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a. Nonexempt employees - See Notes #6a (over time wages) salary does not prevent you from getting over time b. Exempt employees: from over time or not everyone is paid overtime expect if you are exempt
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Independent Contractors
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Independent contractors vs true employee status - See Notes #6b they have a bunch of rules
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Definition of decision making
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1. "The process {has to be efficient} 2. by which managers 3. respond to opportunities and threats (from the SWOT world) 4. by analyzing options {MECE step} 5. and making determinations 6. about specific organizational goals {to further organizational GOALS} 7. and courses of action."
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Structured/ programmed decisions
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{it is simple, reactionary}[faster][lots of resources to deal with Unstructured]
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Unstructured/unprogrammed decisions
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know at least four of the characteristics of the decision environment
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1. Bounded rationality {lot of uncertainty/risk, internally to person} 2. Risk 3. Uncertainty 4. Information symmetry 5. Ambiguous information {we only know the cars that are being broken into and reported} 6. Time constraints 7. Information costs 8. NOTE: can be causes of conflicts that we have already discussed
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decision support system --DSS
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Part of the Information Technology and the decision-making process-- the MIS world-- management information systems {Applied to a structured decision}[fast foods, clothing stores]
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Delphi technique
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Delphi tells the truth
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Likert scale
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to convert qualitative responses to quantitative or measurable values {qualitative data to quantitative data}
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Test of Homogeneity
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For ANOVA the null hypothesis is stated as: H0: All population means are equal. For example, if we are testing three populations, then we would state: H0: µ1 = µ2 = µ3 or all treatments are the same The alternative hypothesis is stated as: Ha: Not all population means are equal or at lease two treatments differ It is important to note that ANOVA testing by itself does not tell you which mean does not equal the other means, or the combination of means that are not equal. It will only tell you that at least one mean does not equal the other means. It is the Test of Homogeneity that gives us the resultant populations.
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statistical process control
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(SPC) is a method of quality control which uses statistical methods. SPC is applied in order to monitor and control a process. Monitoring and controlling the process ensures that it operates at its full potential.
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Stakeholders
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A corporate stakeholder can affect or be affected by the actions of a business as a whole. Anyone who is effects or is affected by a certain project/company/organization.
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Control chart
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also known as Shewhart charts (after Walter A. Shewhart) or process-behavior charts, in statistical process control are tools used to determine if a manufacturing or business process is in a state of statistical control.
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The four types of ethics
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Societal (given, how society should act), Organizational (guiding practices for a company's managers to view responsibility to stake holders) , Occupational (standard of behaving for a certain trade) and Individual (personal standards on how we should act)
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Trust
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Willingness of a person to have confidence in the good will of a person
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Reputation
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the way people view you based off of your ethical behavior.. reputation leads to trust
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Principle and agency theory
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Principles (corporations) hire agents (workers). The principal-agent problem develops when a principal creates an environment in which an agent has incentives to align its interests with those of the principal, typically through incentives. This usually
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Line function
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names given to different types of functions in organizations. A "line function" is one that directly advances an organization in its core work. This always includes production and sales, and sometimes also marketing.
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Staff functions
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names given to different types of functions in organizations. A "staff function" supports the organization with specialized advisory and support functions.
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Demand chain but not the parts
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is the management of relationships between suppliers and customers to deliver the best value to the customer at the least cost to the demand chain as a whole
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Four P's
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The marketer E. Jerome McCarthy proposed a four Ps classification in 1960
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Product
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Products- an item that satisfies what a consumer demands
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Price
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Price-determines the company's profit and hence, survival. Adjusting the price has a profound impact on the marketing strategy
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Promotion
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Promotion-All of the methods of communication that a marketer may use to provide information to different parties about the product.
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Placement
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Place- (Distribution)- providing the product at a place which is convenient for consumers to access.
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Target Market
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a group of customers towards which a business has decided to aim its marketing efforts and ultimately its merchandise. A well-defined target market is the first element to a marketing strategy.
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BCG Growth/Share Matrix
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a model for managing a portfolio of different business units. BCG matrix displays the various business units on a graph of the market share vs. market growth to compare relative comparators. LOOK AT CHART to understand $cows, dogs, ect.
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Cash Cows
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Stars
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Question Marks
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Dogs
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Market share
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The percentage of an industry or market's total sales that is earned by a particular company over a specified time period.
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Market Growth
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An increase in the demand for a particular product or service over time.
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SWOT Analysis
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A study undertaken by an organization to identify its internal strengths and weaknesses, as well as its external opportunities and threats.
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Strengths
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Weakness
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Opportunities
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Threats
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Balanced Scorecard
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The balanced scorecard is a strategic planning and management system that is used extensively in business to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals.
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Financial
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Customer
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Internal Business Processes
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Learning & Growth
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Metrics
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Initiatives
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Porter's Five Forces Model
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a framework to analyze level of competition within an industry and business strategy development. Five forces: Supplier Power, Buyer Power, Competitive Rivalry,Threat of Substitution and Threat of New Entry.
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Suppliers
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Customers or Buyers
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Substitutes
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Potential entrants
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Industry members
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Value Chain
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