question

Market entry strategy where a company in one country makes certain resources available to companies in other countries.

answer

Licensing

question

Organization that receives more than 25% of its total sales revenues from op. outside home country

answer

Multinational Corporation

question

Extent to which trade and investments, into ideas and political cooperation flow

answer

Globalization

question

Tells managers that since something works out one place it might not at another.

answer

Contingency View

question

Called the quantitative perspective, uses mathematics, statistical techniques and computer technology. (Operations research, operations management and info tech)

answer

Management Science

question

Human Resources Perspective

answer

Suggests that jobs should be designed to meet peoples higher level needs by allowing employees to use their full potential

question

Behavioral Science Appoach

answer

Draws from psychology, sociology and other social sciences to develop theories about human behavior and interactions.

question

Hawthorne Studies

answer

Concerned about how managers should treat workers

question

Stressed the satisfaction of employees basic needs as the key to increased production

answer

Human Relations Movement

question

Emphasized understanding human behavior, needs, and attitudes in the workplace. (Mary Parker Follett and Chester Barnard were advocates.

answer

Humanistic Perspective

question

Administrative Principles Approach

answer

Subfield of the classical perspective; focusses on the total organization rather than the individual worker. (Henri Faxol)

question

Emphasizes management on an impersonal, rational basis through elements such as clearly defined authority and responsibility (May weber, introduced these)

answer

Bureaucratic Organization Approach

question

Which reflects a concern with the past, present, and a high value on meeting current obligations.

answer

Short term orientation

question

Reflects a greater concern for the future and a high value on thrift and preservation

answer

Long term orientation

question

Degree to which people except inequality in power among intuitions and people

answer

Power Distance

question

Ethnocentrism

answer

For international managers; which is the natural tendency among people to regard their own culture.

question

Refers to a company risk of loss of assets, earnings, or managerial control due to political actions by government

answer

Political Risk

question

Subfield of the classical perspective that emphasizes scientifically determined changes in management practices as the solution to improving labor productivity; "Father of Sceintific Management" = Frederick Winslow Taylor

answer

Scientific Management

question

Pretence for a tightly knit social framework in which individuals look after one another is called

answer

Collectivism

question

Which of the following countries has the highest level ranking (lowest) "individualism" as a national value

answer

USA

question

Which of the following refers to the rate at which one country's currency is exchanged for anothers?

answer

Exchange rate

question

How someone should or ought to behave

answer

Value

question

Classical Perspective (On management)

answer

took a rational, scientific approach to management and sought to turn organizations into efficient operating machines.

question

All of the following are components of cultural intelligence EXCEPT a.Physical b.Cognitive c.Emotional d.Analytical

answer

Analytical

question

Economic- Affects the availability, production and distribution of a societys resources Political- relate to the influence of political and legal institutions on people and organizations. Social- aspects of a society that guide and influence relationships, among people, such as their values needs and standards of behavior

answer

Economic vs. Social vs. Political Forces

question

Hofstede identified four important social values that are helpful in understanding differences between national cultures which one deals with the extent of people prefer achievement over the annuity of life?

answer

Masculinity - Femininity

question

Herbert Simon

answer

The administrative or bounded rationally model of decision making was introduced by

question

Evaluation and Feedback

answer

is the last step in the decision making process

question

The tendency of organizations to invest time and monet in a project despite strong evidence that the project is failing is referred to as?

answer

Escalating Commitment

question

Is the individual who is assigned the role of challenging assumptions made by the group

answer

Devils advocate

question

Experience and Conscious Thought

answer

In decision making, intuition is based on ____, but lacking in _______

question

Framing

answer

Decision bias wherein losses us gaining cause manegers to make riskier decisions

question

All of the following are cognitive biases that can affect managers judgement expect a.Being influenced by initial impressions b. Justifying Past Decisions c.Seeing what you dont want to see d. Overconfidence

answer

c. Seeing what you dont want to see

question

Most managers settle for a ____ rather than a ____ solution

answer

Satisfying and maximizing

question

____ is by far the most difficult situation for a decision maker

answer

Ambiguity

question

High Context Cultute

answer

One in which people use communication to build personal relationship; China is an example

question

First Line- Who are at the first or second level of the heigharchy and are responsible for overseeing groups of production employees Functional- responsible for a dept who does a single task General- responsible for several departments who do different functions

answer

Manager Types

question

Riskiest type of direct investment. For example, company builds a subsidry from scratch in a foreign country

answer

Greenfield Venture

question

Top- The apex of the organizational heigharchy and is resoponsible for the entire organization Middle- responsible for major divisions or departments Project- responsible for a temporary work project that involves people from various functions and levels.

answer

Management Types

question

Cognitive ability to see the organization as a whole system and the relationship among its parts

answer

Conceptual Skill

question

Efficiency- pertains to the amount of resources (raw materials, money, people) used to produce a desired volume of input Effectiveness- refers to the degree to which the organization achieves a stated goal.

answer

Efficiency vs. Effectiveness

question

is a social entity that is goal directed and deliberately structured

answer

Organization

question

Planning- Select goals and ways to attain them Organizing- Assign responsibility for task Leading- use influence to motivate employees Controlling- Monitor activities and make connections

answer

Four Management Funcitons

question

The attainment of organizational goals in an effective and efficient through planning, organizing, leading, and controlling organization resources

answer

Management

question

In a takeover of another automotive company, executives at Ford were surprised at the lavish benefits for what country?

answer

Sweden

question

This trade alliance began in January 1994 includes the US, and created the worlds largest Trading Block.

answer

NAFTA

question

Global Stage

answer

In which of the following stages of globalization is cultural sensitivity "critically important"

question

Low Context Culture

answer

People use communication primarily to exchange fact and info; USA is an example

question

Intention to complete enlistment

answer

The factor that was most predictive of whether a US marine would complete his enlistment was his/her

question

Humanistic perspective

answer

Mary Parker Follett contributed to which approach to management?

question

Bounded rationality

answer

The concept that people have limited time and cognitive ability to process information on which to base decisions is known as

question

Most firms begin with which strategy to enter foreign markets?

answer

Exporting

question

The decision bias wherein losses versus gains cause managers to make riskier decisions is:

answer

Framing

question

Human skills

answer

What is important for middle managers in an organization?

question

Classical Rational

answer

The decision making approach that defines how a person "should" make decisions as opposed to how he or she "actually" makes decisions

question

Decision

answer

_____ style refers to difference among people with respect to how they perceive problems and make decisions.

question

Rules of thumb

answer

In decision-making, "heuristics" are more commonly known as:

question

Assigning responsibility for task accomplishment

answer

Which of the following best describes organizing?

question

Conceptual

answer

According to your text, ____ skills relate to the cognitive ability to see the organization as a whole and the relationship among its parts

question

First-line managers

answer

According to your text, which of the following are directly responsible for the production of goods and services

question

Synergy

answer

10+10=25 reflects which of these?

question

Top

answer

Important responsibilities for ___ managers include communicating a shared vision for the organization and shaping corporate culture

question

Herbert Simon

answer

The administrative or bounded rationality model of decision making was introduced by _____

question

Conceptual

answer

According to your text, ____ are the most important at the top management level

question

Ineffective communication skills and practices

answer

According to your text, the top reason managers fail in his or her job is _____

question

Recurring

answer

According to your text, programmed decisions are made in response to _____ organizational problems

question

Anchoring

answer

The decision bias where in people fail to sufficiently adjust from initial positions is

question

Limited time and cognitive ability to process information

answer

As it related to decision making, the concept of bounded rationality refers to:

question

Management is the same as the ownership of organization

answer

According to your text, all of the following are characteristics of the Ideal Bureaucracy (Weberian Bureacracy) Except:

question

Fundamental attribution error

answer

The tendency for persons to overestimate the influence of internal factors (and underestimate the influence of external factors) on the behavior of others is called:

question

Total quality management

answer

According to your text, _____ focuses on managing the whole organization to deliver quality to customers; W. Edwards Deming = Father of the Quality Movement

question

Availability

answer

The decision bias wherein an event is believed to be more likely when one can recall an example of it is:

question

Devil's advocate

answer

The____ is the individual who is assigned the role of challenging assumptions made by the group

question

Division of work

answer

The assembly line is most consistent with which of the following general principles of management?

question

Entrepreneur

answer

According to your text, when a manager is initiating improvement projects and identifying new ideas, he or she is performing which of the following roles?

question

Intention to complete enlistment

answer

As noted in class, the factor that was most predictive of whether the US marine would complete his/her enlistment was his/her:

question

Administrative

answer

The approach that defines how a decision maker "actually" makes decisions as opposed to how he or she "should" make decisions is:

question

Technical qualifications

answer

According to your text, the selection and promotion of employees in a Weberian bureaucracy should be based on:

question

Performing

answer

Which of the following is NOT a function of management?

question

Anchoring

answer

The decision bias wherein early information is given greater weight in decisions called:

question

Recognition of decisions requirement

answer

According to your text, which of the following is the first step in the managerial decision making process?

question

Bounded Rationality

answer

The concept that people have limited time and cognitive ability to process information on which to base decisions is known as:

question

Escalating commitment

answer

The tendency of organizations to invest time and money in a project despite strong evidence that the project is failing is referred to as:

question

According to your text, programmed decisions are made in response to ______ organizational problems

answer

Recurring

question

Anchoring-adjustment

answer

As noted in class, a person is more likely to drive across town to save $25 on an item costing $100 versus the same $25 saving on an item costing much more. The decision bias responsible for this is called

question

Quantitative (MGMT Science)

answer

Which school of magnet is most concerned with quantitative models as a manager can use in his or her role as a decision maker?

question

A set of interrelated parts that function as a whole to achieve a common purpose is called:

answer

A system

question

Jim Goodnight

answer

One of the videos shown in class ideal with the lavish benefits received by employees of SAS Corporation. The CEO of SAS is:

question

Ethnocentrism

answer

According to your text, a cultural attitude marked by the tendency to regard one's own country as a superior to others is called:

question

Most managers settle for a _____ rather than a(n) _____ solution

answer

Satisficing; maximizing

question

Used poor work methods

answer

Frederick Taylor believed that some workers were poor producers, among other things, because they:

question

Outsourcing

answer

Low level jobs such as those performed at call centers, are sometimes located in other countries in order to obtain a cheaper source of labor. such international division of labor is called:

question

Theory Y

answer

The "Humanistic" perspective on management is consistent with which of the following?

question

Individualism-collectivism

answer

We discussed four important social values that are helpful in understanding differences beteween national cultures. which of these values deals with the extent to which people are expected to take care of themselves versus look after one another?

question

The "one best way"

answer

Results of the illumination study conducted at Hawthorne appeared to violate which of the following Scientific Management assumptions?

question

Middle manager

answer

According to your text, which of the following is responsible for a major division or department of an organization

question

Political

answer

According to your text, which model of decision making involves bargaining and discussion among coalition members?

question

Contingency Planning

answer

____ Identifies important factors in the environment and defines a range of alternative responses to be taken in that case of setbacks or unexpected conditions

question

Masculinity-femininity

answer

We discussed four important social values that are helpful in understanding differences between national cultures. which of these values deals with the extent people prefer achievement, material success, and work over social relationships and quality of life?

question

Appeared to violate the assumption of "rationality"

answer

Observers at the Western Electric Hawthorne plant noted that workers tended to restrict their productivity even though they would have been paid more for higher productivity. This phenomenon:

question

Increase the size of the "pie" ( the firm's resources)

answer

Frederick Taylor was concerned with improving relations between workers and management. His approach to eliminating worker-management conflict was to

question

Setting Goals

answer

According to your text, which of these is the first step in the Management By Objectives (MBO) process?

question

It was concerned with developing principled for the operation of an organization

answer

Which of the following best describes the Administrative Principles School of Management?

question

Bottom of the pyramid

answer

_____ is the concept that proposes that corporations can alleviate poverty and other social ills by selling to worlds poorest people.

question

Cultural Intelligence

answer

A persons ability to use reasoning and observation to interpret culturally unfamiliar situations and to know how to respond appropriately is known as:

question

Stretch Goals

answer

____ are reasonable yet highly ambitious goals that are so clear, compelling, and imaginative that they fire up employees and engender excellence

question

Western Electric Hawthorne Plant

answer

Studies of employee productivity were carried out in the Bank Wiring Observation Room, which was located at:

question

Canada

answer

In 1994, NAFTA merged with the US into a trading bloc with which of the following countries?

question

A system

answer

A set of interrelated parts that function as a whole to achieve a common purpose is called:

question

star

answer

According to the portfolio management method developed by Boston Consulting Group (BCG matrix), a business unit with HIGH market share and a HIGH business growth rate is called a:

question

Classical

answer

The bureaucratic organizations approach is a subfield within the ___ perspective.

question

Finding the one best way to do the job

answer

Frederick Taylor was most concerned with:

question

strategic goals

answer

Which of the following is a part of a single-use plan?

question

The rational man/person

answer

Which of the following Scientific Management assumptions appeared to be violated in the Bank Wiring Observation Room at Hawthorne?

question

Power Distance

answer

Which of these refers to the degree to which people accept the inequality in power among institutions, organizations, and people?

question

Humanistic

answer

The human resources approach is a subfield within the ___ perspective?

question

Greenfield venture

answer

Which of the following international entry strategy is associated with the highest ownership of foreign operations and the highest cost to enter foreign operations?

question

Value

answer

How someone "should" or "ought" to behave in a society is a (an):

question

Act based on simple "sticky" models of reality

answer

Because persons are "cognitively lazy", they:

question

The Triangle Shirtwaist Company

answer

A 1911 fire in NYC factory resulted in the death of 146 workers and influenced public perceptions of management. The factory was

question

Were not voluntary

answer

In early 1900s, companies that adhered to the Human Relations perspective developed methods aimed at making employees happy(raising their job satisfaction). In contrast to similar employee friendly practices used today, many of the methods employed during the Human Relations era actually failed to make employees happy. A major reason for this failure is that the Human Relations methods:

question

Supply Chain Management

answer

Which of the following refers to managing a sequence of suppliers and purchasers, covering all stages of processing from obtaining raw materials to distributing finished goods to consumers.

question

According to your text, which of the following is a method of management whereby managers and employees define goals for every department,project, and person and use them to monitor subsequent performance?

answer

Management by objectives

question

Point-Counterpoint

answer

Group decision making technique that breaks people into subgroups and assigns them to express competing points of view regarding the decision

question

1. Recognition of decision requirement 2. Diagnosis and Analysis of causes 3. Development of alternatives 4. Selection of desired alternative 5. Implementation of chosen alternative 6. Evaluation and feedback

answer

Decision Making Process (6 steps)

question

Intuition and Satisficing

answer

Intuition- aspect where decisions based on past experience, but no conscious thought Satisficing- Choosing list alternative that satisfices minimal decision criteria

question

Administrative Model (Descriptive)

answer

Includes bounded rationality and satisficing but describes how managers make decisions when faced by uncertainty and ambiguity Descriptive: how managers ACTUALLY make a decision rather than how they should

question

Classical Model (Normative)

answer

Rational based on logical decisions that are economically sensible and best interest Normative: how a manager SHOULD make logical decisions and provide guidelines for reaching an outcome

question

Programmed Decision

answer

One made in response to a reoccurring situation where managers have rules to be applied for future problems/decisions

question

use visible leadership, clear roles accountability, candid communication, appropriate human resources

answer

How do managers execute strategy effectively?

question

transition strategy

answer

combines global strategy with local flexibility to meet needs in different countries

question

a popular model for formulating business level strategy

answer

Focus Strategy - Managers use either differentiation or cost leadership approach, but focus on a specific regional market Cost leadership strategy - Seeks efficient facilities, cutting costs, overall efficiency Differentiation Strategy - Seeks to distinguish products and services from others

question

vertical integration

answer

type of diversification that means expanding into business that provides the supplies needed to make products or distribute a product

question

BCG Matrix

answer

concept developed by Boston Counciling that evaluates SBUs with respect to business growth rate and market share classifies them as cash cows, star, dogs

question

portofolio strategy

answer

mix of SBU's and product lines that fit together in a logical way to provide synergy and competitive advantage SBU=unique business unit, a division of the organization that has a unique mission product etc.

question

strategy formulation

answer

stage of strategic management that includes planning and decision making to establish the organizations goals

question

the organization as a whole and the combinations of business units and products that make it up

answer

corporate level strategy

question

each business unit or production line; concerns amount of advertising, direction of research and development, new product development

answer

business level strategy

question

major functional departments such as manufacturing, marketing and R & A

answer

functional level stategy

question

core competence

answer

is something that the organization does particularly well compared to others

question

synergy

answer

exists when the organizations parts interact to produce a joint effect that is greater than the sum of the parts

question

1. target customer 2. core competencies 3. synergy 4. value

answer

four elements of competitive advantage

question

strategic management

answer

refers to set of decisions, actions used to formulate strategies that provide a superior fit between the organization and its environment to achieve goals

question

contingency planning

answer

identifies important factors in the enviroment and defines a range of alternative responses in case of setbacks

question

Management by Means (MBR)

answer

management by means (MBR)focused on methods used to obtain results, rather than the actual results. Based on the idea that when managers pursue their activities in the right way, positive outcomes will occur

question

management by objective (MBO)

answer

method whereby mangers and employees define goals for every department, project and person and use them to monitor subsequent performance

question

1.develop the plan 2.translate the plan 3.plan operations 4.execute the plan 5.monitor and learn

answer

the organizational planning process (5steps)

question

Monitor role - involves seeking info from many sources to stay well informed Disseminator role - Transmits info to others, both inside and outside the organization Figurehead role - involves handling ceremonial and symbolic activities for the organization Leader role - encompasses relationships with subordinated, including motivation, communication, and influence

answer

Types of Roles

question

"Jugaad"

answer

Refers to an innovation mindset that strives to meet customers' needs quickly and inexpensively; also known as Frugal Engineering

question

Hawthorne Effect

answer

Researchers can influence the outcome of an experiment by being too closely involved with research subjects

question

Uses information tech. to keep in close touch with customers, collect and manage large amounts of customer data, and provide superior customer value

answer

Customer Relationship Management (CRM)

question

Belgium, Ireland, Austria, Netherlands, Singapore

answer

Most globalized countries:

question

Types of Multinational Corporations

answer

Ethnocentric - places emphasis on their home country Polycentric - Oriented towards markets of individual host countries Geocentric - companies that are truly world oriented

question

Direct Investment

answer

Market entry strategy where the organization is directly involved in managing its production facilities in a foreign country

question

Joint Venture

answer

An organization shares costs and risks with another firm in a foreign country

question

Wholly Owned Foreign Affiliate

answer

A foreign subsidiary over which an organization has complete control

question

World Trade Organization (WTO)

answer

Permanent membership organization started in 1995 that monitors trade and has authority to arbitrates disputes among 153 member countries

question

European Union (EU)

answer

Alliance begun in 1957 to improve economic and social conditions among its 27 members

question

A Company's mission

answer

An organization's purpose or reason for existence

question

Mission Statement

answer

A broadly stated definition of the organization's basic business scope and operations that distinguish it from similar organizations.

question

Strategic Goals

answer

broad statement of where the business wants to be in the future and pertain to the business as a whole rather than to specific divisions or departments

question

Strategic Plans

answer

The action streps by which or organization intends to attain its strategic goals

question

Tactical Plans

answer

Designed to help execute major strategic plans and to accomplish a specific part of the company's strategy and tactical goals

question

Operational Goals

answer

Specific, measurable results that are expected from departments, work groups, and individuals; steps of action laid out by the operational plans

question

Strategy Map

answer

Visual representation of the key drivers of an organizations success, showing the cause and effect relationship among goals and plans

question

Steps of Management by Objectives

answer

1. Set goals 2. Develop action plans 3. Review progress 4. Appraise overall performance

question

Single Use Plans

answer

Plans that are developed to achieve a set of goals that are unlikely to be repeated in the future

question

Standing Plans

answer

Ongoing plans that are used to provide guidance for tasks that occur repeatedly

question

Steps of Crisis Preparation

answer

1. Designating a crisis management team and spokesperson 2. Creating crisis management plan 3. Setting up effective communication systems

question

Decentralized Planning

answer

The top executives or planning experts work with managers in major divisions or departments to develop their own goals and plans

question

Multidomestic Strategy

answer

Competition in each country is handled independently; products and advertising are modified to suit the specific needs of individual countries

question

Transnational Strategy

answer

Combines global coordination to attain efficiency with local flexibility to meet needs in different countries

question

Uncertainty

answer

Occurs when managers know which goals they want to achieve, but info about alternatives and future events in incomplete

question

Ambiguity

answer

Condition in which the goals or problems are unclear, alternatives are hard to define, and info about outcomes is unavailable

question

Risk Propensity

answer

Willingness to undertake risk with the opportunity or gaining an increased payoff

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