question

Organization

answer

A systematic arrangement of people brought together to accomplish some specific purpose

question

Non managerial employees

answer

People who work directly on a job or task and have no responsibility for overseeing the work of others

question

Managers

answer

Individuals in an organization who direct the activities of others

question

Top managers

answer

Individuals who are responsible for making decisions about the direction of the organization and establishing policies that affect all organizational members

question

Middle Managers

answer

Individuals who are typically responsible for translating goals set by top managers into specific details that lower-level managers wills see get done

question

First-line managers

answer

Supervisors responsible for directing the day to day activities of non-managerial employees

question

Management

answer

The process of getting things done effectively efficiently through and with other people

question

Efficiency

answer

Doing things right or getting the most output from the least amount of inputs

question

Effectiveness

answer

Doing the right things or completing activities so that organizational goals are attained

question

Scientific management

answer

The use of scientific methods to define the "one best way" for a job to be done - Frederick Winslow Taylor

question

Planning

answer

Includes defining goals establishing strategy and developing plans to coordinate activities

question

Organizing

answer

Includes determining what tasks are to be done who is to do them how the tasks are to be grouped whop reports to whom and who will make decisions

question

Leading

answer

Includes motivating employees directing the activities of other selecting the most effective communication channel and resolving conflicts

question

Controlling

answer

Includes monitoring performance comparing it with goals and correcting any significant deviations

question

Managerial roles

answer

Specific categories of managerial behavior often grouped around interpersonal relationships information transfer and decision making

question

Interpersonal roles

answer

Involving people (subordinates and persons outside the organization) and other duties that are ceremonial and symbolic in nature

question

Informational roles

answer

Involving collecting receiving and disseminating information

question

Decisional roles

answer

Entailing making decisions or choices

question

Conceptual skills

answer

A manager's ability to analyze and diagnose complex situations

question

Interpersonal skills

answer

A manager's ability to work with understand mentor and motivate other both individually and in groups

question

Technical skills

answer

Job-specific knowledge and techniques needed to perform work tasks

question

Political skills

answer

A manager's ability to build a power base and establish the right connections

question

Small Business

answer

An independent business having fewer than 500 employees that doesn't necessarily engage in any new or innovative practices and has relatively little impact on its industry

question

Employee Engagement

answer

When employees are connected to satisfied with and enthusiastic about their jobs

question

External Environment

answer

Factors, forces, situations and events outside the organization that affect its performance

question

Omnipotent view of management

answer

The view that managers are directly responsible for an organizations success or failure

question

Symbolic view of management

answer

The view that much of an organizations success or failure is due to external forces outside manager's control

question

Demographics

answer

The characteristics of a population used for purposes of social studies

question

Technology

answer

Any equipment tools or operating methods that are designed to make work more efficient

question

Environmental uncertainty

answer

The degree of change and complexity in an organizations environment

question

Environmental complexity

answer

The number of components in an organizations environment and the extent of knowledge that the organizations has about those components

question

Stakeholders

answer

Any constituencies in an organizations environment that are affected by that organizations decisions and actions

question

Organization stakeholders

answer

Employees, customers, unions, social and political action groups, shareholders, competitors, communities, Trade and industry associations, Suppliers, governments, media

question

Organizational culture

answer

The shared values principles traditions and ways of doing things that influence the way organizational members act

question

Strong cultures

answer

Cultures in which the key values are deeply held and widely shared

question

Global Village

answer

A boundary less world where goods and services are produced and marketed worldwide

question

Multinational Corporation (MNC)

answer

Any type of international company that maintains operations in multiple countries

question

Multi Domestic Corporation

answer

An MNC that decentralizes management and other decisions to the local country where it's doing business

question

Global Corporation

answer

An MNC that centralizes management and other decisions in the home country

question

Transnational (border less) organization

answer

A structural arrangement for global organizations that eliminates artificial geographical barriers

question

Global sourcing

answer

Purchasing materials or labor from around the world wherever it is cheapest

question

Exporting

answer

Making products domestically and selling them abroad

question

Importing

answer

Acquiring products made abroad and selling them domestically

question

Licensing

answer

An agreement in which an organization gives another the right for a fee to make or sell its products using its technology or product specifications

question

Franchising

answer

An agreement in which an organization gives other organization the right for a fee to use its name and operating methods

question

Global strategic alliance

answer

A partnership between an organization and a foreign company partners in which both share resources and knowledge in developing new products of building production facilities

question

Joint venture

answer

A specific type of strategic alliance in which the partners agree to form a separate independent organization for some business purpose

question

Foreign subsidiary

answer

A direct investment in a foreign country that involves setting up a separate and independent facility or office

question

Parochialism

answer

A narrow focus in which managers see thing only through their own eyes and from their own perspective

question

GLOBE

answer

The global leadership and organizational behavior effectiveness research program a program that studies cross-cultural leadership behaviors

question

Social responsibility (corporate social responsibility or CSR)

answer

A business firms intention beyond its legal and economic obligations to do the right things act in ways that are good for society

question

Social obligation

answer

When a business firm engages in social actions because of its obligation to meet certain economic and legal responsibilities

question

Social responsiveness

answer

When a business firm engages in social actions in response to some popular social need

question

Sustainability

answer

A company's ability to achieve its business goals and increase long-term shareholder value by integrating economic, environmental and social opportunities into its business strategies

question

Ethics

answer

A set of rules or principles that defines right and wrong conduct

question

Utilitarian view of ethics

answer

View that says ethical decisions are made solely on the basis of their outcomes or consequences

question

Rights view of ethics

answer

View that says ethical decisions are made in order to respect and protect individual liberties and privileges

question

Theory of justice view of ethics

answer

View that says ethical decisions are made in order to enforce rules fairly and impartially

question

Code of ethics

answer

A formal document that states an organizations primary values and the ethical rules its expects managers and non-managerial employees to follow

question

Workforce diversity

answer

Ways in which people in a workforce are similar and different from one another in terms of gender age race sexual orientation ethnicity cultural background and physical abilities and disabilities

question

Race

answer

The biological heritage (including physical characteristics such as ones skin color and associated traits that people use to identify themselves

question

Ethnicity

answer

Social traits such as ones cultural background or allegiance that are shared by a human population

question

Family-friendly benefits

answer

Benefits that provide a wide range of scheduling options and allow employees more flexibility at work accommodating their needs for work-life balance

question

Contingent workforce

answer

Part-time temporary and contract workers who are available for hire on an as-needed basis

question

Decision-making process

answer

A set of eight steps that include identifying a problem, selecting an alternative, and evaluating the decision's effectiveness

question

Problem

answer

A discrepancy between an existing and a desired state of affairs

question

Decision criteria

answer

Factors that are relevant in a decision

question

Decision implementation

answer

Putting a decision into action

question

Heuristics

answer

Rules of thumb that simplify decision making

question

Rational decision making

answer

Describes choices that are consistent and value-maximizing within specified constraints

question

Bounded rationality

answer

Making decisions that are rational within the limits of a manger's ability to process information

question

Satisfice

answer

Accept solutions that are "good enough"

question

Escalation of commitment

answer

An increased commitment to a previous decision in spite of negative information

question

Intuitive decision making

answer

Making decisions on the basis of experience, feelings, and accumulated judgment

question

Structured problem

answer

A straightforward, familiar, and easily defined problem

question

Unstructured problem

answer

A problem that is new or unusual for which information is ambiguous or incomplete

question

Programmed decision

answer

A repetitive decision that can be handled using a routine approach

question

Procedure

answer

A series of interrelated, sequential steps used to respond to a structured problem

question

Rule

answer

An explicit statement that tells employees what can or cannot be done

question

Policy

answer

A guideline for making decisions

question

Nonprogrammer decision

answer

A unique and nonrecurring decision that requires a custom-made solution

question

Certainty

answer

A situation in which a decision maker can make accurate decisions because all outcomes are known

question

Risk

answer

A situation in which a decision maker is able to estimate the likelihood of certain outcomes

question

Uncertainty

answer

A situation in which a decision maker has neither certainty nor reasonable probability estimates available

question

Groupthink

answer

When a group exerts extensive pressure on an individual to withhold his or her different views in order to appear to be in agreement

question

Brainstorming

answer

An idea-generating process that encourages alternatives while withholding criticism

question

Nominal group technique

answer

A decision-making technique in which group members are physical present but operate independently. People are there but ideas are anonymous and free

question

Electronic meeting

answer

A type of nominal group technique in which participants are linked by computer

question

Ringisei

answer

Japanese technique where CEO collects a large amount of information, which is then used in consensus-forming group decision. Typically a long-term perspective

question

Creativity

answer

The ability to produce nominal and useful ideas. Three components (required): expertise, creative-thinking skills, and intrinsic task motivation. (Three component model)

question

Strategic management

answer

What managers do to develop an organization's strategies

question

Strategies

answer

Plans for how the organization will do what it's in business to do, how it will compete successfully, and how it will attract its customers in order to achieve its goals

question

Strategic management process

answer

A six-step process that encompasses strategic planning, implementation, and evaluation. Six steps are: 1) Identify goals/mission 2) external analysis 3) internal analysis 4) formulate strategies 5) implement strategies 6) evaluate results

question

Mission

answer

A statement of an organizations purpose

question

Opportunities

answer

Positive trends in the external environment

question

Threats

answer

Negative trends in the external environment

question

Resources

answer

An organization's assets that it uses to develop, manufacture, and deliver products to its customers

question

Capabilities

answer

An organization's skills and abilities in doing the work activities needed in its business

question

Core competence

answer

The major value-creating capabilities of an organization

question

Strengths

answer

Any activities the organization does well or any unique resources it has

question

Weaknesses

answer

Activities the organization doesn't do well or resources it needs but doesn't possess

question

SWOT analysis

answer

Identifying internal strengths (S) and weaknesses (W) and also examining external opportunities (O) and threats (T)

question

Corporate strategy

answer

An organizational strategy that specifies what businesses a company is in or what's to be in and what it wants to do with those businesses

question

Growth strategy

answer

A corporate strategy in which an organization expands the number of markets served or products offered either through its current business(es) or through new business(es)

question

Stability strategy

answer

A corporate strategy in which an organization continues to do what it is currently doing

question

Renewal strategy

answer

A corporate strategy that addresses declining organizational performance

question

Competitive strategy

answer

An organizational strategy for how an organization will compete in its business(es)

question

Strategic business units (SBUs)

answer

An organization's single businesses that are independent and formulate their own competitive strategy

question

Competitive advantage

answer

What sets an organization apart..... its distinctive edge

question

Cost leadership strategy

answer

When an organization competes on the basis of having the lowest costs in its industry

question

Differentiation strategy

answer

When an organization competes on the basis of having unique products that are widely valued by customers

question

Focus strategy

answer

When an organization competes in a narrow segment or niche with either a cost focus or a differentiation focus

question

Functional strategy

answer

The strategies used by an organization's various functional departments to support the competitive strategy

question

Benchmarking

answer

The search for the best practices among competitors or no competitors that lead to their superior performance

question

Goals (objectives)

answer

Desired outcomes or targets

question

Plans

answer

Documents that outline how goals are going to be met

question

Stated goals

answer

Official statements of what an organization says, and wants its stakeholders to believe, its goals are

question

Real goals

answer

Goals that an organization actually pursues, as defined by the actions of its members

question

Traditional goal setting

answer

Goals set by top managers flow down through the organization and become sub goals for each organizational area

question

Means-ends chain

answer

An integrated network of goals in which higher-level goals are linked to lower-level goals, which serve as the means for their accomplishment

question

Management by objectives (MBO)

answer

A process of setting mutually agreed-upon goals and using those goals to evaluate employee performance

question

Strategic plans

answer

Plans that apply to the entire organization and encompass the organization's overall goals

question

Tactical plans

answer

Plans that specify the details of how the overall goals are to be achieved

question

Long-term plans

answer

Plans with a time frame beyond three years

question

Short-term plans

answer

Plans with a time frame of one year or less

question

Specific plans

answer

Plans that are clearly defined and leave no room for interpretation

question

Directional plans

answer

Plans that are flexible and set general guidelines

question

Single-use plan

answer

A one-time plan specifically designed to meet the needs of a unique situation

question

Standing plans

answer

Plans that are ongoing and provide guidance for activities performed repeatedly

question

Commitment concept

answer

The idea that plans should extend far enough to meet those commitments made when the plans were developed

question

Formal planning department

answer

A group of planning specialists whose sole responsibility is helping to write organizational plans

question

Environmental scanning

answer

An analysis of the external environment that involves screening large amounts of information to detect emerging trends

question

Competitive intelligence

answer

A type of environmental scanning that gives managers accurate information about competitors

Fundamentals of Management Chapters 1-5 – Flashcards

Unlock all answers in this set

Haven't found what you were looking for?

Search for samples, answers to your questions and flashcards