Management 360 [Midterm 1] – Flashcards
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~Talent aka (intellectual capital) ~Technology ~Globalization ~Scrutiny of ethics ~Diversity ~Working Domestically and Internationally ~Free-agent Economy ~Self Management
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Impacting forces in today's working environment that didn't exist at the same level 15-20 years ago?
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Combined brain power and knowledge of a company's employees.
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Talent aka (Intellectual Capital)
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The ability to stay informed and use current technology at work and in your personal life.
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Technology (tech IQ)
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Dependence on one another for resource flows, product markets, and business competition.
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Globalization
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When a firm shifts jobs from a home country to a foreign one.
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Job Migration
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When a firm moves jobs from a foreign country back home.
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Reshoring
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Set of moral standards of what is "good" and "right" in ones behavior.
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Ethics
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Active oversight of management decisions and actions by a board of directors.
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Corporate Governance
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Determines people's differences in terms of gender, race, age, ethnicity, sexual orientation, and able bodiedness.
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Workforce Diversity
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A core group of full time / long term employees, supported by people who work contractual and part time.
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Shamrock Organization
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People change jobs more often, and many work on independent contracts with different employers.
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Free Agent
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the ability to understand oneself, exercise initiative, accept responsibility and learn from experience.
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Self Management
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Commitment x Competency
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Intellectual Capital Equation
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How hard you work to apply your talents and capabilities to a task. (energy & enthusiasm)
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Commitment
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Your personal talents or job related capabilities.
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Competency
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Emphasizes careful alignment of worker training, incentives and supervisory support with job requirements.
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Scientific Management (Fredrick Taylor)
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1. Develop a "science" that includes rules of motion, standardized work implements, and proper working conditions for every job. 2. Carefully select workers with the right abilities for the job. 3. Carefully train workers to do the job and give them incentives to cooperate with the job "science". 4. Support workers by carefully planning their work and by smoothing the way as they do their work.
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Four Guiding Principles of Scientific Management
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Science of reducing a task to its basic physical motion.
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Motion studies
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~planning ~organizing ~leading ~controling
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What is the four functions of management (polc)
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~Foresight ~Organization ~Command ~Coordination ~Control
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Henry Fayol's 5 rules or duties of a manager
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To complete a plan of action in the future.
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Foresight
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to provide and mobilize resources tom implement the plan.
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Organization
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to lead, evaluate, and select workers to get the best work towards the plan.
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Command
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to fit diverse efforts and to ensure information is shared and problems are solved.
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Coordination
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to make sure things go according to plan and to take necessary corrective action.
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Control
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~Scalar chain ~Unity of command ~Unity of direction
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Henry Fayol's administrative principles
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clear and unbroken line of communication from the top to the bottom of the organization.
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Scalar Chain
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Each person should receive orders from only one boss.
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Unity of Demand
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One person should be in charge of all activities with the same performance objective.
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Unity of direction
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rational and efficient form of organization founded on logic, order, and legitimate authority.
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Bureaucracy (Max Weber)
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~Clear division of labor ~clear hierarchy of authority ~formal rules and procedures ~impersonality ~careers based on merit
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Characteristics of bureaucratic organizations
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jobs are well defined and workers are highly skilled at performing them.
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clear division of labor
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Authority and responsibility are well defined for each position, and each position reports to a higher level
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clear hierarchy of authority
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Written guidelines direct behavior and decisions in jobs, and written files are kept for historical record.
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formal rules an procedures
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Rules and procedures are impartially and uniformly applied with no one receiving preferential treatment.
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impersonality
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Workers are selected and promoted on ability, competency, and performance, and managers are career employees of the organizations.
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careers based on merit
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~excessive paperwork or "red tape" ~slowness in handling problems ~rigidity in the face of shifting needs ~resistance to change ~employee apathy
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Disadvantages of a bureaucracy
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~Self Actualization ~Esteem ~Social ~Safety ~physiological
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Maslow's theory of human needs
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need for self fulfillment; to grow and use abilities to fullest and most creative extent
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Self - actualization
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Need for esteem in eye of others; need for respect, prestige, recognition;
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Esteem
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need for love, affection sense of belongingness in ones relationships.
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Social needs
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need for security protection, and day to day life
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Safety
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most basic of all human needs: need for biological maintenance; food, water, and physical well-being
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physiological
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a satisfied need does not motivate behavior.
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deficit principle
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a need is activated only when the next lower-level need is satisfied.
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progression principle
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~deficit principle ~progression principle
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Two principles that cease to operate at self actualization
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assumes people dislike work, lack ambition, act irresponsibly, and prefer to be led
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Theory X
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assumes people are willing to work, like responsibility and are self-directed and creative.
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Theory Y
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when a person acts in ways that confirm another's expectations
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self fulfilling prophecy
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Leads individuals to act in a way to meet their needs
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Needs theory
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~social ~ safety ~physiological
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Lower order needs
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~self actualization ~esteem
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Higher order needs
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~equity ~expectancy ~goal setting ~ self efficacy
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Process theories
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Turned maslow's 5 theories to only 3: ~existence ~relatedness ~growth
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ERG theory (clayton alderfer)
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desires for physical well being
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Existence theory
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desires for good interpersonal relationships
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relatedness theory
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desires for personal growth and development
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growth theory
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an already satisfied need can become reactivated when higher level need is blocked.
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frustration regression principle
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the job conditions (building, environment)
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hygiene factor
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the job itself (responsibility, work load)
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satisfier/motivator factor
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~hygiene factor ~satisfier factor
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two factor theory
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~ achievement ~ Affiliation ~Power
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Acquired needs theory
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your personal best
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Achievement needs
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making connections
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Affiliation needs
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impact or influence: ~ personal power ~ social power
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Power
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personal gratification (hitler)
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personal power
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socially responsible (effective managerial leadership)
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social power
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~specific ~measurable ~attainable ~relative/realistic ~time bound
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S.M.A.R.T goals
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people behave according to their perceptions
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Equity theory
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an individual perceives that rewards are more than fair
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over reward inequity
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an individual perceives rewards that are less than what is fair.
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under reward inequity
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motivation=expectancy x instrumentality x valence
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Expectancy theory
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a person's belief that working hard will result in high task performance
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expectancy
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a persons belief that various outcomes will occur as a result of task performance
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instrumentality
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the value a person assigns to work-related outcomes
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valence
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belief that a person is capable of performing a task
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self efficacy theory
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gains confidence through a positive experience
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enactive mastery
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learn by observing others
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vicarious modeling
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someone tells us we can
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verbal persuasion
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energy to perform well
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emotional arousal
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employs people in clearly defined and specialized tasks
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job simplification
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increase variety by periodically shifting workers between different jobs.
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job rotation
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increase variety by increasing two jobs into one
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job enlargement (horizontal loading)
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adds planning and controlling that is usually done by the supervisor.
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job enrichment (vertical loading)
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~flex hours ~compressed work weeks ~job sharing ~telecommunicating ~contingency/part time
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Alternative work schedules
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choice of daily work hours
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flex hours
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full time job can be completed in less than 5 days
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compressed work week
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splits one job between two
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job sharing
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working from home or outside the office
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telecommunicating