Home Page Arts And Humanities Philosophy Ethics Business Management BUAD Exaxm 2 - Flashcards

BUAD Exaxm 2 – Flashcards

Patrick Marsh

8 July 2022

question

Mission statement

answer

Written declaration of purpose that affirms the highest priorities of the organization

question

Objectives

answer

Statements of short-term, specific outcomes that are to be achieved by the firm

question

Vision

answer

The answer to the question, "why does this organization exist?"

question

Goals

answer

Long-term, measurable accomplishments to be achieved by the firm within a specified time frame

question

Free-rein leader

answer

Leader who favors autonomy and allows group members to make decisions and take action as needed

question

Autocratic leader

answer

Leader who maintains individual control over all decisions and accepts little input from subordinates

question

Democratic leader

answer

Leader who involves subordinates in goal setting, problem solving and decision making

question

Leading

answer

The process of guiding, influencing and motivating others to work toward common goals

question

Organizing

answer

The group of people, resources and activities to accomplish the objectives of the organization

question

Planning

answer

Process of establishing organizational goals and determining how to accomplish them

question

Controlling

answer

Process of evaluating and regulating ongoing organizational activities to ensure that goals are achieved

question

Brainstorming

answer

The process of generating creative ideas and solutions through unrestricted group discussion

question

Problem solving

answer

The process of working through details of a predicament in order to reach a solution

question

Decision making

answer

The process of selecting one alternative from the available alternatives

question

Management

answer

Organization and coordination of activities of the firm in oder to achieve defined goals and objectives

question

Chain of command

answer

Official hierarchy of authority that dictates who is in charge of whom within the organization

question

Hierarchy

answer

The levels of management within a business organization, from the lowest to highest

question

Departmentalization

answer

Process of organizing employees into groups or units to accomplish specific organizational goals

question

Span of control

answer

Number of subordinates under the direct control of a manager of supervisor

question

Matrix organization

answer

Organizational structure that combines employees from different parts of the organization; often used for special projects

question

Tall organization

answer

Organization with multiple layers of management between top executives and front-line employees

question

Flat organization

answer

Organization with few layers of management between the executive level and lowest level

question

Core competencies

answer

Those functions that the organization can do as well as or better than any other organization

question

Benchmarking

answer

Comparing a firm's processes and performance to the world's best and/or best practices from other industries

question

Economies of scale

answer

The increase in efficiency of production as the number of goods being produced increases

question

Bureaucracy

answer

Management structure with many layers of management, a high degree of formalization and job specialization

question

Formal organization

answer

Structure of an organization that is typically depicted on organization charts

question

Real time

answer

Actual time during which a process or event occurs

question

Line personnel

answer

Those personnel in an organization who have direct job performance responsibilities

question

Assembly process

answer

Manufacturing method in which value is added by putting together components to create a product

question

Continuous process

answer

Manufacturing method to produce or process materials without interruption for long periods of time

question

Mass customization

answer

Production of personalized or custom-tailored goods or services to meet customers' individual needs

question

Critical path

answer

In a PERT chart, the sequence of activities that takes the longest time from start to finish

question

Facility location

answer

The process of determining the geographic placement of facilities to serve the firm's clients or customers

question

Facility layout

answer

The arrangement of machinery, equipment and people within a production facility

question

Quality

answer

Consistent production of goods and services desired by customers that are free of defects and deficiencies

question

Process manufacturing

answer

Manufacturing method in which value is added through physical or chemical transformation of the product

question

Flexible manufacturing

answer

Manufacturing system that uses computer-controlled technology to produce different goods in varying volumes

question

Lean manufacturing

answer

Manufacturing methodology based on maximizing value and minimizing waste in the manufacturing process

question

SPC

answer

Method of monitoring quality through random sampling of products and plotting variances from standard

question

CAD

answer

The use of computers to assist in the design and development of products

question

MRP

answer

Computerized system that uses sales forecasting in determining appropriate inventory levels of materials

question

ERP

answer

Computerized system that integrates business functions such as purchasing inventory control, sales, finance and HR into a single database

question

CIM

answer

Combining applications such as CAD, CAM and other computer systems to streamline the manufacturing process

question

JIT

answer

Inventory system in which materials or supplies are delivered when required and neither sooner nor later

question

Intrinsic reward

answer

Valued outcome that comes from within the individual, such as a sense of accomplishment and self-esteem

question

Extrinsic reward

answer

A valued outcome that is tangible, visible to others and external, such as a raise, promotion or praise

question

Theory X

answer

Management view that employees are lazy, uninterested in work, and need to be prodded to perform their jobs

question

Theory Y

answer

Management view that employees enjoy work and take responsibility for meeting their work requirements

question

Theory Z

answer

Management view that employee involvement in the organization and decision-making leads to productivity

question

Job enrichment

answer

Motivation technique to improve job satisfaction by incorporating task variety and responsibility

question

Job enlargement

answer

Increasing the scope of the job by combining several tasks into a single, more challenging assignment

question

Job rotation

answer

Motivation strategy in which employees are moved between two or more jobs in a planned manner

question

Hygiene factors

answer

Factors in a job necessary to avoid worker dissatisfaction but do not improve job satisfaction

question

Motivators

answer

Workplace factors that provide employees with job satisfaction and presumably motivation

question

MBO

answer

Motivation technique in which managers and subordinates collaborate establishing performance goals and objectives

question

Scientific management

answer

Management approach concerned primarily with the physical efficiency of the work process

question

Self-actualization

answer

The process of growing and developing as a person to achieve individual potential

question

Equity theory

answer

Motivation theory stating that employees seek a balance between their inputs/outputs compared to others in similar positions

question

Hierarchy of needs

answer

Sequence of human motivation needs arranged by ascending order of importance, developed by Abraham Maslow

question

Expectancy theory

answer

Motivation theory stating that motivation depends on how much we want something and how likely we believe we are to get it

question

Conceptual skills

answer

The ability to think creatively about, analyze and understand complicated and abstract ideas

question

Contingency planning

answer

Plan devised for an unexpected outcome; used for risk management when a risk would have catastrophic consequences

question

Enabling

answer

Making someone or something able to do something.

question

Free rein leadership

answer

Leaders set objectives; employees are relatively free to do whatever it takes to accomplish those objectives

question

Human relations

answer

A discipline within resource management which addresses interpersonal behaviors

question

Knowledge management

answer

Efficient handling of information and resources within a commercial organization

question

Management

answer

Planning, organizing, staffing, leading or directing, and controlling an organization

question

Middle Management

answer

division heads, branch managers, and plant managers

question

Operational planning

answer

• Implementation of tactical plan • Setting work standards and schedules • Focuses on specific supervisors, department managers, and employees • Very short-term

question

Organization chart

answer

Diagram that outlines the internal structure of a company

question

Participative leadership

answer

Managers and employees work together to make decisions

question

PMI

answer

Indicator of the economic health of the manufacturing sector; based on new orders, inventory levels, production, supplier deliveries, and employment environment

question

Staffing

answer

Recruitment, selection, development, training, and compensation of managerial personnel

question

Strategic planning

answer

• Top managers • Long term • Organizational wide

question

Supervisory management

answer

Supervisors, foreman, department heads, section leaders

question

Tactical planning

answer

• Middle managers • Short term • Division level

question

Technical skills

answer

Knowledge and capabilities to perform specialized tasks

question

Top management

answer

President and VP

question

Centralized authority

answer

Most of the major decision-making power and authority rests in the hands of a concentrated group of leaders

question

Cross-functional self manage teams

answer

Group of people with different functional expertise working toward a common goal

question

Decentralized authority

answer

Decision-making authority is distributed throughout a larger group

question

Informal organization

answer

Informal working relationships that develop in an organization and contribute to work culture?no chart or organizers!

question

Line organization

answer

Authority flows from top to bottom

question

Transparency

answer

Openness, communication, and accountability

question

CAM

answer

Computer-aided manufacturing

question

Form utility

answer

Increasing attractiveness of a product to a group of customers; might involve making a product ready for consumption by converting it to a form that is more beneficial to consumers than the raw materials used to make it

question

Gantt chart

answer

Series of horizontal lines shows the amount of work done or production completed in certain periods of time in relation to amount planned for those periods

question

Inseparability

answer

Production and consumption occur at the same time

question

Intermittent process

answer

Condition in which a device operates normally for a time, then becomes defective for a time, with the process repeating itself at regular or irregular intervals

question

PERT

answer

A project management tool used to schedule, organize, and coordinate tasks within a project

question

Production management

answer

The application of management principles to the production function in a factory

question

Six sigma quality

answer

Disciplined, data-driven approach and methodology for eliminating defects (driving toward six standard deviations between the mean and the nearest specification limit) in any process - from manufacturing to transactional and from product to service

question

Goal setting theory

answer

Effects of setting goals on subsequent performance

question

Hawthorne effect

answer

Tendency for people to behave when they know they are being studied; paying attention and showing you care leads to a greater job performance

question

Motivation

answer

Inner force that reflects goal-directed activity or behavior

question

Needs

answer

Underlying forces that create tension in an individual

question

Reinforcement theory

answer

You can change someone's behavior by using reinforcement, punishment, and extinction

question

Self-directed teams

answer

Group working their own way toward group defined goal

question

Self managed teams

answer

Group working their own way toward management defined goal

question

Time motion studies

answer

Combines time study of Frederick Winslow Taylor with motion study of Gilbreth's

question

Time motion studies

answer

Combines time study of Frederick Winslow Taylor with motion study of Gilbreth's

question

Time motion studies

answer

Combines time study of Frederick Winslow Taylor with motion study of Gilbreth's

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question

Mission statement

answer

Written declaration of purpose that affirms the highest priorities of the organization

question

Objectives

answer

Statements of short-term, specific outcomes that are to be achieved by the firm

question

Vision

answer

The answer to the question, "why does this organization exist?"

question

Goals

answer

Long-term, measurable accomplishments to be achieved by the firm within a specified time frame

question

Free-rein leader

answer

Leader who favors autonomy and allows group members to make decisions and take action as needed

question

Autocratic leader

answer

Leader who maintains individual control over all decisions and accepts little input from subordinates

question

Democratic leader

answer

Leader who involves subordinates in goal setting, problem solving and decision making

question

Leading

answer

The process of guiding, influencing and motivating others to work toward common goals

question

Organizing

answer

The group of people, resources and activities to accomplish the objectives of the organization

question

Planning

answer

Process of establishing organizational goals and determining how to accomplish them

question

Controlling

answer

Process of evaluating and regulating ongoing organizational activities to ensure that goals are achieved

question

Brainstorming

answer

The process of generating creative ideas and solutions through unrestricted group discussion

question

Problem solving

answer

The process of working through details of a predicament in order to reach a solution

question

Decision making

answer

The process of selecting one alternative from the available alternatives

question

Management

answer

Organization and coordination of activities of the firm in oder to achieve defined goals and objectives

question

Chain of command

answer

Official hierarchy of authority that dictates who is in charge of whom within the organization

question

Hierarchy

answer

The levels of management within a business organization, from the lowest to highest

question

Departmentalization

answer

Process of organizing employees into groups or units to accomplish specific organizational goals

question

Span of control

answer

Number of subordinates under the direct control of a manager of supervisor

question

Matrix organization

answer

Organizational structure that combines employees from different parts of the organization; often used for special projects

question

Tall organization

answer

Organization with multiple layers of management between top executives and front-line employees

question

Flat organization

answer

Organization with few layers of management between the executive level and lowest level

question

Core competencies

answer

Those functions that the organization can do as well as or better than any other organization

question

Benchmarking

answer

Comparing a firm's processes and performance to the world's best and/or best practices from other industries

question

Economies of scale

answer

The increase in efficiency of production as the number of goods being produced increases

question

Bureaucracy

answer

Management structure with many layers of management, a high degree of formalization and job specialization

question

Formal organization

answer

Structure of an organization that is typically depicted on organization charts

question

Real time

answer

Actual time during which a process or event occurs

question

Line personnel

answer

Those personnel in an organization who have direct job performance responsibilities

question

Assembly process

answer

Manufacturing method in which value is added by putting together components to create a product

question

Continuous process

answer

Manufacturing method to produce or process materials without interruption for long periods of time

question

Mass customization

answer

Production of personalized or custom-tailored goods or services to meet customers' individual needs

question

Critical path

answer

In a PERT chart, the sequence of activities that takes the longest time from start to finish

question

Facility location

answer

The process of determining the geographic placement of facilities to serve the firm's clients or customers

question

Facility layout

answer

The arrangement of machinery, equipment and people within a production facility

question

Quality

answer

Consistent production of goods and services desired by customers that are free of defects and deficiencies

question

Process manufacturing

answer

Manufacturing method in which value is added through physical or chemical transformation of the product

question

Flexible manufacturing

answer

Manufacturing system that uses computer-controlled technology to produce different goods in varying volumes

question

Lean manufacturing

answer

Manufacturing methodology based on maximizing value and minimizing waste in the manufacturing process

question

SPC

answer

Method of monitoring quality through random sampling of products and plotting variances from standard

question

CAD

answer

The use of computers to assist in the design and development of products

question

MRP

answer

Computerized system that uses sales forecasting in determining appropriate inventory levels of materials

question

ERP

answer

Computerized system that integrates business functions such as purchasing inventory control, sales, finance and HR into a single database

question

CIM

answer

Combining applications such as CAD, CAM and other computer systems to streamline the manufacturing process

question

JIT

answer

Inventory system in which materials or supplies are delivered when required and neither sooner nor later

question

Intrinsic reward

answer

Valued outcome that comes from within the individual, such as a sense of accomplishment and self-esteem

question

Extrinsic reward

answer

A valued outcome that is tangible, visible to others and external, such as a raise, promotion or praise

question

Theory X

answer

Management view that employees are lazy, uninterested in work, and need to be prodded to perform their jobs

question

Theory Y

answer

Management view that employees enjoy work and take responsibility for meeting their work requirements

question

Theory Z

answer

Management view that employee involvement in the organization and decision-making leads to productivity

question

Job enrichment

answer

Motivation technique to improve job satisfaction by incorporating task variety and responsibility

question

Job enlargement

answer

Increasing the scope of the job by combining several tasks into a single, more challenging assignment

question

Job rotation

answer

Motivation strategy in which employees are moved between two or more jobs in a planned manner

question

Hygiene factors

answer

Factors in a job necessary to avoid worker dissatisfaction but do not improve job satisfaction

question

Motivators

answer

Workplace factors that provide employees with job satisfaction and presumably motivation

question

MBO

answer

Motivation technique in which managers and subordinates collaborate establishing performance goals and objectives

question

Scientific management

answer

Management approach concerned primarily with the physical efficiency of the work process

question

Self-actualization

answer

The process of growing and developing as a person to achieve individual potential

question

Equity theory

answer

Motivation theory stating that employees seek a balance between their inputs/outputs compared to others in similar positions

question

Hierarchy of needs

answer

Sequence of human motivation needs arranged by ascending order of importance, developed by Abraham Maslow

question

Expectancy theory

answer

Motivation theory stating that motivation depends on how much we want something and how likely we believe we are to get it

question

Conceptual skills

answer

The ability to think creatively about, analyze and understand complicated and abstract ideas

question

Contingency planning

answer

Plan devised for an unexpected outcome; used for risk management when a risk would have catastrophic consequences

question

Enabling

answer

Making someone or something able to do something.

question

Free rein leadership

answer

Leaders set objectives; employees are relatively free to do whatever it takes to accomplish those objectives

question

Human relations

answer

A discipline within resource management which addresses interpersonal behaviors

question

Knowledge management

answer

Efficient handling of information and resources within a commercial organization

question

Management

answer

Planning, organizing, staffing, leading or directing, and controlling an organization

question

Middle Management

answer

division heads, branch managers, and plant managers

question

Operational planning

answer

• Implementation of tactical plan • Setting work standards and schedules • Focuses on specific supervisors, department managers, and employees • Very short-term

question

Organization chart

answer

Diagram that outlines the internal structure of a company

question

Participative leadership

answer

Managers and employees work together to make decisions

question

PMI

answer

Indicator of the economic health of the manufacturing sector; based on new orders, inventory levels, production, supplier deliveries, and employment environment

question

Staffing

answer

Recruitment, selection, development, training, and compensation of managerial personnel

question

Strategic planning

answer

• Top managers • Long term • Organizational wide

question

Supervisory management

answer

Supervisors, foreman, department heads, section leaders

question

Tactical planning

answer

• Middle managers • Short term • Division level

question

Technical skills

answer

Knowledge and capabilities to perform specialized tasks

question

Top management

answer

President and VP

question

Centralized authority

answer

Most of the major decision-making power and authority rests in the hands of a concentrated group of leaders

question

Cross-functional self manage teams

answer

Group of people with different functional expertise working toward a common goal

question

Decentralized authority

answer

Decision-making authority is distributed throughout a larger group

question

Informal organization

answer

Informal working relationships that develop in an organization and contribute to work culture?no chart or organizers!

question

Line organization

answer

Authority flows from top to bottom

question

Transparency

answer

Openness, communication, and accountability

question

CAM

answer

Computer-aided manufacturing

question

Form utility

answer

question

Gantt chart

answer

Series of horizontal lines shows the amount of work done or production completed in certain periods of time in relation to amount planned for those periods

question

Inseparability

answer

Production and consumption occur at the same time

question

Intermittent process

answer

Condition in which a device operates normally for a time, then becomes defective for a time, with the process repeating itself at regular or irregular intervals

question

PERT

answer

A project management tool used to schedule, organize, and coordinate tasks within a project

question

Production management

answer

The application of management principles to the production function in a factory

question

Six sigma quality

answer

question

Goal setting theory

answer

Effects of setting goals on subsequent performance

question

Hawthorne effect

answer

Tendency for people to behave when they know they are being studied; paying attention and showing you care leads to a greater job performance

question

Motivation

answer

Inner force that reflects goal-directed activity or behavior

question

Needs

answer

Underlying forces that create tension in an individual

question

Reinforcement theory

answer

You can change someone's behavior by using reinforcement, punishment, and extinction

question

Self-directed teams

answer

Group working their own way toward group defined goal

question

Self managed teams

answer

Group working their own way toward management defined goal

question

Time motion studies

answer

Combines time study of Frederick Winslow Taylor with motion study of Gilbreth's

question

Time motion studies

answer

Combines time study of Frederick Winslow Taylor with motion study of Gilbreth's

question

Time motion studies

answer

Combines time study of Frederick Winslow Taylor with motion study of Gilbreth's

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