Management 101 – Flashcards
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Scientific Management
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emphazies careful selection and training of workers and supervisory support
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Motion Study
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is the science of reducing a task to its basic physical motions
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Bureaucracy
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is a rational and efficent form of organization founded on logic, order, and legitmate authority
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Hawthorne effect
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is the tendency of persons singled out for special attention to perform as expected
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Human relations movement
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suggested that managers using good human relations will achieve productivity
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Organizational Behavior
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is the study of individuals and groups in organizations
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Need
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is a physcological psychological deficency that a person wants to satisfy
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Theory X
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assumes people dislike work, lack ambition, act irresponsibly, and prefer to be led.
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Theory Y
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assumes people are willing to work, like responsibility, and are self-directed and creative.
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Self-fufilling prophecy
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occurs when a person acts in ways that confirm another's expectations.
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Management science and operations research
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uses quantitative analysis and applied mathematics to solve problems.
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Operations Management
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is the study of how orgranizations produce goods and services.
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System
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is a collection of interrelated parts working together for a purpose.
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Subsystem
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is a smaller component of a larger system
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Open system
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interacts with it environment and transforms resource inputs into outputs.
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Contingency thinking
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tries to match management practices with situational demands.
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Total quality management
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is managing with an orgranization-wide commitment to continous improvement, product quality, and customer needs.
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Continuous improvement
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involves always searching for new ways to improve work quality and performance
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ISO certification
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indicates conformance with a rigorous set of international quality standards
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Knowledge management
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is the process of using intellectual capital for competitive advantage
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Learning organization
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continously changes and improves, using the lessons of experience.
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High-performance organization
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consistently achieves excellence while creating a high-quality work environment
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Evidence-based management
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involves making decisions based on hard facts about what really works.
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Ethics
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sets standards of good or bad, or right or wrong, in one's conduct
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Ethical behavior
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is a "right" or "good" in the context of a governing moral code.
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Values
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are broad beliefs about what is appropriate behavior
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Terminal Values
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are prefrences about desired end states
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Instrumental values
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are prefrences regarding the means to desired ends
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Utilitarian view
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ethical behavior delivers the greatest good to the most people
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Individualism view
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ethical behavior advances long-term self-interests.
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Moral rights view
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ethical behavior respects and protects fundamental rights.
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Justice view
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ethical behavior treats people impartially and fairly
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Prodedural justice
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is concerned that policies and rules are faitly applied.
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Distributive justice
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is concerned that people are treated the same regardless of personal characteristics.
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Interactional justice
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is the degree to which others are treated with dignity and respect
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Cultural relativism
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suggests there is no one right way to behave: ethical behavior is determined by its cultural events.
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Universalism
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suggests ethical standards apply across all cultures.
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Ethical imperialism
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is an attempt to impose one's ethical standards on other cultures.
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Ethical dilemma
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is a situation that offers potential benefit or gain and is also unethical
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Ethics intensity or issue intensity
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indicates the degree to which an issue or situation is recognized to pose important ethical challenges.
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Ethical framework
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is a personal rule or strategy for making ethical decisions.
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Whistleblower
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exposes the misdeeds of others in organizations
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Ethics training
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seeks to help people understand the making and to incorporate high ethical standard into their daily behavior
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Code of Ethics
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is a formal statement of values and ethical standards
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Immoral manager
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chooses to behave unethically
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Amoral manager
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fails to consider the ethics of her or his behavior
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Moral manager
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makes ethical behavior a personal goal
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Ethics mindfulness
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is enriched awareness that leads to consistent ethical behavior
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Social entrepreneurship
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has a mission to solve pressing social problems
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Corporate social responsibility
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is the obligation of an organization to serve its own interests and those of society
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Organizational stakeholders
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are directly affected by behavior of the organization and hold a stake in its performance
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Classical view of CSR
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is that business should focus on profits
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Socioeconomic view of CSR
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is that business should focus on broader social welfare as well as profits
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Virtuous circle
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occurs when CSR improves financial performance which leads to more CSR
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Social responsibility audit
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assesses an organization's accomplishments in areas of social responsibility
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Obstructionist strategy
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avoids social responsibilty and reflects mainly economic priorities
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Defensive strategy
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seeks protection by doing the minimum legally required
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Accommodative strategy
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accpets social respoonsibility and tries to satisfy economic, legal, and ethical criteria
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Proactive strategy
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meets all the criteria of social responsibility, including discretionary performance
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Corporate governance
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is the oversight of top management by a board of directors
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Data
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are raw facts and observations
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Information
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is data made useful for decision making
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Information techinology
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helps us acquire, store, and process information
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Information systems
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use IT to collect, organize, and distribute data for use in decision making
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Management information systems
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meets the information needs of managers in making daily decisions
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Problem solving
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involves identifying and taking action to resolve problems
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A decision
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is a choice among possible alternative courses of action
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Systematic thinking
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approaches problems in a rational and analytical fashion
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Intuitive thinking
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approaches problems in a flexible and spontaneous fashion
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Decision-making process
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beings with identification of a problem and ends with evaluation of implemented solutions.
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Cost-benefit analysis
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involves comparing the costs and benefits of each potential course of action
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Classical decision model
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describes decision making with complete information
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Optimizing decision
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chooses the alternative giving the absolute best solution to a problem
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Bounded rationality
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describes making decisions within the contraints of limited information and alternatives.
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Behavioral decision model
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describes decision making with limited information and bounded rationality
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Satisficing decision
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chooses the first satisfactory alternative that comes to one's attention
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Lack-of-participation error
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is failure to involve in a decision the person whose support is needed to implement it.
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Heuristics
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are strategies for simplifying decision making
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Availablity heuristic
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bases a decision on recent information or events
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Representativeness heuristics
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bases a decision on similarity to other situations
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Anchoring and adjustment heuristic
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bases a decision on incremental adjustments from a prior decision point.
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Framing error
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is trying to solve a problem in the context in which is it perceived
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Confirmation error
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Occurs when focusing only on information that confirms a decision already made.
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Planning
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is the process of setting objectives and determining how to accomplish them
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Objectives
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are specific results that one wishes to achieve
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Plan
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is a statement of intended means for accomplishing objectives
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Complacency trap
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is being carried along by the flow of events
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Strategic plan
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identifies long-term directions for the organizations
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Vision
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clarfies the purpose of the organization and expresses what it hopes to be in the future
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Tactical plan
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helps to implement all or parts of a strategic plan
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Functional plans
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indicate how different operations within the organizations will help advance the overall strategy
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Operational plan
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identifies short-term activities to implement strategic plans
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Policy
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is a standing plan that communicates broad guidlines for decisions and action
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Procedure or rule
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precisely describes actions that are to be taken in specific situations
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Budget
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is a plan that commits resources to projects or activites
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Zero-based budget
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allocates resources as if each budget were brand new
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Forecasting
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attempts to predict the future
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Contingency planning
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identifies alternative courses of action to take when things go wrong
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Scenario planning
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identifies alternative future scenarios and make plans to deal with each
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Benchmarking
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uses external and internal comparisons to plan for future improvements
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Best practices
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are things people and organizations do that lead to superior performance
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Hierachy of goals or objectives
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lower-level objectives are means to accomplishing higher-level ones.
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MBO
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is a process of a joint objective-setting between a superior and subordinate
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Improvment objectives
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describe intentions for specific performance improvments
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Personal development objectives
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describe intentions for personal growth through knowledge and skills development
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Participatory planning
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includes the persons who will be affected by plans and/ or those who will implement them
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Competitive advantage
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is the ability to do something so well that one outperforms competitors
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Sustainable competitive advantage
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is the ability to outperform rivals in ways that are difficult or costly to imitate
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Strategy
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is a comprehensive plan guiding resource allocation to achieve long-term orgranization goals.
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Strategic intent
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focuses and applies organizational energies on a unifying and compelling goal
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Corporate strategy
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sets long-term direction for the total enterprise
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Business strategy
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identifies how a divisin or strategic business unit will compete in its product or service domain
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Functional strategy
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guides activities within one specific area of operations
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Strategic management
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is the process of formulating and implementing strategies
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Strategic analysis
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is the process of anazlying the organization, the enviroment, and the organization's competitive position and current strategies
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Strategy formulation
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is the process of crafting stragies to guide the allocation of resources
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Strategy implementation
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is the process of putting strategies into action
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Stakeholders
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are individuals and groups directly affected by the organization and its strategic accomplishments
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Strategic constituencies analysis
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asseses interests of stakeholders and how well the organization is responding to them
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Core values
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are broad beliefs about what is or is not appropriate behavior
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Organizational culture
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is the predominant value system for the organzation as a whole
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Operating objectives
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are specific results that organzations try to accomplish
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SWOT analysis
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examines organizational strengths and weaknesses and enviromental opportunities and threats
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Core competency
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is a special strength that gives and organzation a competitive advantage
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B2C business strategy
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uses IT and Web portals to link businesses with customers
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Portfolio planning
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approach seeks the best mix of investments among alternative buisness opportunites
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BCG matrix
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analyzes business opportunites according to market growth rate and market share
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Motivation
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accounts for the level, direction and persitence of effort expended at work
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Lower-order needs
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are physiological, safety, and social needs in Maslow's hierachy
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High-order needs
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are esteem and self-actualization needs in Maslow's hierachy
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Exsitence needs
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are desires for physical well being
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Relatedness needs
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are desires for good interpersonal relationships
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Growth needs
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are desires for personal growth and development
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Satifier factor
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is found in job content, such as a sense of achievment, recognition, or personal growth
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Hygiene factor
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is found in the job context, such as working conditions, interpersonal relations, orgranizational policies and salary
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Need for achievement
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is desire to do something better, to solve problems, or to master complex tasks
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Need for power
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is the desire to control, influence, or be responsible for other people
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Need for affiliation
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is the desire to establish and maintain good relations with people
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Expextancy
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is a person's belief that working hard will result in high task performance
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Instrumentatlity
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is a person's belief that various outcomes will occur as a result of task performance
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Valence
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is the value a person assigns to workrelated outcomes
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Self-efficacy
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is a person's belief that she or he is capable of performing a task
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Law of effect
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states that behavior followed by pleasant consequences is likely to be repeated; behavior followed by unpleasant consequences is not
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Operant conditioning
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is the control of behavior bu manipulating its consequences
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Positive reinforcement
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strengthens behavior by making a desirable consequences contingent on its occurence
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Negative reinforcement
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strengthens behavior by making avoidance of an undesirable consequences contingent on its occurence
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Punishment
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discourages behavior by making an unpleasant consequences contingent on its occurence
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Extinction
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discourages behavior by making the removal of a desirable consequence contingent on its occurence
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Shaping
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is positive reinforcement of successive approximations to the desired behavior
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Continuous reinforcement
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rewards each time a desired behavior occurs
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Intermittent reinforcement
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rewards behavior only periodically
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Job design
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is arranging work tasks for individuals and groups
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Job simplification
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employs people in clearly defined and specialized tasks with narrow job scope
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Automation
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is the total mechanization of a job
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Job rotation
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increaes task variety by periodically shifting workers between different jobs
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Job enlargement
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increases take variety by combing into one job two or more tasks previously done by seperate workers.
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Job enrichment
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increases job depth by adding work planning and evaluating duties normally performed by the supervisor
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Flexible working hours
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give employees some choice in daily work hours
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compressed work week
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allowes a full time job to be completed in less than five days
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Job sharing
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splits one job between two people
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Telecommuting
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involves using IT to work at home or outside the office
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Part-time work
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is temporary employment for less than the standard 40-hour work week
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Contingency workers
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are employed on a part-time and temporary basis to supplement permanent workforce