Principles of Management Test 2 – Flashcards
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Ethics
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The moral code of principles that sets standards as to what is good or bad, or right or wrong, in ones conduct
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Checklist for Dealing w/ Ethical Behavior (1)
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Recognize the ethical dilemma
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Checklist for Dealing w/ Ethical Behavior (2)
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Get the facts & identify your options
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Checklist for Dealing w/ Ethical Behavior (3)
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Test each option: Legal? Right? Affects? Benefits?
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Checklist for Dealing w/ Ethical Behavior (4)
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Decide which option to follow
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Checklist for Dealing w/ Ethical Behavior (5)
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Double check w/ spotlight questions: "How will I feel if my family finds out about my decision?"
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Checklist for Dealing w/ Ethical Behavior (6)
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Take Action
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Environments of Organization (1)
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Economic Environment: - economic growth - unemployment rate - disposable income
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Environments of Organization (2)
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Legal-Political: - laws & regulation - business forms - political trends
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Environments of Organization (3)
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Natural Environment: - "green" values - recycling infrastructure
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Environments of Organization (4)
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Sociocultural Environment: - population demographics - education system - health/nutrition values
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Environments of Organization (5)
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Technological Environment: - IT systems/infrastructure - broadband internet access
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Forms of Global Organization (How Companies Go Global) (1)
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Global Sourcing - Materials or services are purchased around the world for local use
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Forms of Global Organization (How Companies Go Global) (2)
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Exporting - Local products are sold abroad to foreign customers Importing - selling in domestic markets of products acquired abroad
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Forms of Global Organization (How Companies Go Global) (3)
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Licensing - a local firm pays a fee to a foreign firm for rights to make or sell its products Franchising - a fee is paid to a foreign business for rights to locally operate using its name, branding & methods
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Forms of Global Organization (How Companies Go Global) (4)
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Insourcing - job creation through foreign direct investment Joint Venture - operates in a foreign country through co-ownership by foreign & local partners Strategic Alliances - partnership in which foreign & domestic firms share resources & knowledge for mutual gains
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Forms of Global Organization (How Companies Go Global) (5)
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Foreign Subsidiaries - a local operation completely owned by a foreign firm Greenfield Venture - foreign subsidiaries built from the ground up by the foreign owner
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Cultural Challenges for a Domestic Manager in a Foreign Country (1)
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Context: Low-Context - emphasize communication via spoken word High-Context - rely on nonverbal and situational cues as well as a spoken or written words in communication
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Cultural Challenges for a Domestic Manager in a Foreign Country (2)
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Time: Monochronic Cultures - people tend to do one thing at a time Polychronic Cultures - time is used to accomplish many different things at once
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Cultural Challenges for a Domestic Manager in a Foreign Country (3)
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Space: Proxemics - how people use space to communicate
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Cultural Challenges for a Domestic Manager in a Foreign Country (4)
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Power Distance - the degree to which a society accepts or rejects the unequal distribution of power among people in organization and the institutions of society
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Cultural Challenges for a Domestic Manager in a Foreign Country (5)
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Individualism-Collectivism - the degree to which a society emphasizes individual accomplishment & self-interests versus collective accomplishments and the interests of grups
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Cultural Challenges for a Domestic Manager in a Foreign Country (6)
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Uncertainty Avoidance - the degree to which a society in uncomfortable w/ risk change, & situational uncertainty, versus having tolerance for them
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Cultural Challenges for a Domestic Manager in a Foreign Country (7)
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Masculinity-Femininity - the degree to which a society values assertiveness and materialism versus feelings, relationships, and quality of life
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Cultural Challenges for a Domestic Manager in a Foreign Country (8)
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Time Orientation - the degree to which a society emphasizes short-term or long-term goals & gratifications
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Personal Time Management Tips (1)
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Do say "No" to requests that divert you from what you really should be doing
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Personal Time Management Tips (2)
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Don't get bogged down in details that you can address later or leave for others
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Personal Time Management Tips (3)
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Do have a system for screening telephone calls, e-mails, and requests for meetings
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Personal Time Management Tips (4)
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Don't let drop-in-visitors or instant messages use too much of your time
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Personal Time Management Tips (5)
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Do prioritize what you will work on in terms of importance and urgency
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Difference between Strategic & Tactical Plans
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Strategic Plans - ideally set forth the goals and objectives needed to accomplish the organization's vision in terms of mission or purpose and what it hopes to be in the future Tactical Plans - often take the form of functional plans that indicate how different components of the enterprise will contribute to the overall strategy
