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General Environment

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The general environment is comprised of economic, legal-political, technological, sociocultural, and natural environment conditions.

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Internet Censorship

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The deliberate blockage and denial of public access to information posted on the Internet.

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Sustainable Business

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Meets the needs of customers and protects the well-being of our natural environment.

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Sustainable Innovation

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Creates new products and production methods that have reduced enviornmental impact.

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Specific Environment

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The specific environment, or task environment, includes the people and groups with whom an organazation interacts.

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Stakeholders

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The persons, groups, and institutions directly affected by an organization.

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Value Creation

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Creating value for and satisfying needs of stakeholders.

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Competitive Advantage

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Allows an organization to deal with market and environmental forces better than its competitors.

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Strategic Positioning

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Results in an organization doing different things or the same things in different ways from one's major competitors.

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Customer Relationship Management

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Strategically tries to build lasting relationships with and to add value to customers.

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Supply Chain Management

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Strategically links all operations dealing with resource supplies.

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Organizational Effectiveness

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Sustainable high performance in using resources to accomplish mission.

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Organizational Culture

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The system of shared beliefs and values that guides behavior in organizations.

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Socialization

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The process through which new members learn the culture of an organization.

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Value-based Management

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Actively develops, communicates, and enacts shared values.

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Workplace Spirituality

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Creates meaning and shared community among organizational members.

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Symbolic Leader

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Uses symbols to establish and maintain a desired organizational culture.

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Multiculturalism

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Involves pluralism and respect for diversity.

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Multicultural Organization

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Based on pluralism and operates with inclusivity and respect for diversity.

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Organizational Substructures

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Exists among people with similar values and beliefs based on shared work responsibilities and personal characteristics.

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Ethnocentrism

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The belief that one's membership group or subculture is superior to all others.

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Glass Ceiling

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A hidden barrier to the advancement of women and minorities.

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Biculturalism

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When minority members adopt characteristics of majority cultures in order to succeed.

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Managing Diversity

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Building an inclusive work environment that allows everyone to reach their full potential.

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Ethics

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Set standards of good or bad, right or wrong, on one's conduct.

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Ethical Behavior

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"Right" or "Good" in the context of a governing moral code.

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Values

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Broad beliefs about what is appropriate behavior.

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Terminal Values

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Perferences about desired end states.

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Instrumental Values

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Preferences regarding the means to desired ends.

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Utilitarian View

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Ethical behavior that delivers the greatest good to the most people.

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Individualism View

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Ethical behavior that advances long-term self-interests.

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Moral Rights View

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Ethical behavior that respects and protects fundamental rights.

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Justice View

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Ethical behavior that treats people impartially and fairly.

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commutative justice

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Justice through fair exchange

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Procedural Justice

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Concerned that policies and rules are fairly applied.

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Distributive Justice

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Concerned that poeple are treated the same regardless of personal characteristics.

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Interactional Justice

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The degree to which others are treated with dignity and respect.

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Universalism

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Suggests ethical standards apply absolutely across all cultures. "Certain absolute truths apply everywhere. Universal values transcend cultures in determining what is right or wrong." Don't do anything you wouldn't do at home.

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Cultural Relativism

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Suggest there is no one right way to behave; eithical behavior is determined by its culture context. "No culture's ethics are superior. The values and practices of the local setting determine what is right or wrong" When in Rome, do as the Romans do.

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Ethical Imperialism

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An attempt to impose one's ethical standards on other cultures.

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Ethical Dilemma

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A situation that offers potential benefit or gain and is also unethical.

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Ethics 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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A personal rule or strategy for making ethical decisions.

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Lawrence Kohlberg: 3 Levels of Moral Development

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Preconventional - Self-Centered Behavior Stage 1 - Avoid harm or punishment Stage 2 - Make deals for personal gain Conventional - Social-Centered Behavior Stage 3 - Act consistently with peers, others Stage 4 - Follow rules, meet obligations Postconventional - Principle-Centered Behavior Stage 5 - Live up to societal expectations Stage 6 - Act according to internal principles

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Whistleblower

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Exposes the misdeeds of others in organizations.

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Code of Ethics

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A formal statement of values and ethical standards.

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Immoral Manager

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Chooses to behave unethically. intentional

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Amoral Manager

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Fails to consider the ethics for his or her behavior. unintentional

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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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Enriched awareness that leads to consistent ethical behavior.

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Social Entrepreneurship

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A mission to solve pressing social problems.

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Corporate Social Responsibility (CSR)

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The obligation of an organization to serve its own interests and those of society.

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Classical View of CSR

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That business should focus on profits.

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Socioeconomic view of CSR

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That business should focus on broader social welfare as well as profits.

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Virtuous Circle

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Occurs when Corporate Social Responsibility (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 responsibility and reflects mainly economic priorities. "Fights social demands" Meet economic responsibilities

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Defensive Strategy

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Seeks protection by doing the minimum legally required. Meet economic and legal responsibilities

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Accommodative Strategy

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Accepts social responsibility 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. "Take leadership in social initiatives"

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Corporate Governance

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The oversight of top management by a board of directors.

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triple bottom line

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A business strategy that includes social, economic, and environmental criteria.

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demand legitimacy

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indicates the validity and legitimacy of a stakeholder's interest in the organization

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issue urgency

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Indicates the extent to which a stakeholder's concerns need immediate attention

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stakeholder power

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Refers to the capacity of the stakeholder to positively or negatively affect the operations of the organization

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ethics training

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Seeks to help people understand the ethical aspects of decision making and to incorporate high ethical standards into their daily behavior

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offshoring

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outsourcing that involves relocating business functions and processes to another country.

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re-shoring

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jobs that had been sent overseas are returning home (call centers; ATM manufacturing)

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un-branding

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A practice that occurs when stores owned by major national and global chains are advertised with local non-branded names.

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enterprise 2.0

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the use of social networking and blog technology in the workplace

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generational cohorts

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indicate similarities in birth year and associated similarities in experience

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specific environment

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the people or groups wit whom an organization interacts

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environmental uncertainty

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lack of information needed to understand or predict the future

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three P's of organizational performance

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profit, people, planet

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ISO 14001

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A global quality standard that certifies organizations that set environmental objectives and targets, account for the environmental impact of their activities, and continuously improve environmental performance.

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sustainable development

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DEVELOPMENT THAT MEETS THE NEEDS OF THE PRESENT WITHOUT COMPROMISING ABILITY OF FUTURE GENERATIONS

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environmental capital

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natural resources used to sustain life and produce goods and services for society

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green management

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when managers recognize and consider the impact of their organization and its practices on the natural environment

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social business innovations

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finds ways to use business models to address important social problems

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trickle up innovation

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recognizes the potential for valuable innovations to be launched from lower organizational levels and divers locations including emerging markets

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steps in innovation process

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imagining, designing, experimenting, assessing, scaling 95

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experimenting

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examining practicality and financial feasibility through experiments and feasibility studies

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assessing

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identifying strengths and weaknesses, potential costs and benefits, and potential markets or applications

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scale-ing

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implementing what has been learned and commercializing new products or services

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skunk works

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special units given separate locations, special resources, and their own managers so they can succeed with innovation

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ambidextrous organization

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uses integrated creative teams to simultaneously be good at both producing and creating

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global manager

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is culturally aware and informed on international affairs

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licensing agreement

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a local firm pays a fee to a foreign firm for rights to make its products

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franchising

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a fee is paid for rights to operate using name branding and methods

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insourcing

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job creation through foreign direct investment

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joint venture

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operates in a foreign country through co-ownership by foreign and local partners

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foreign subsidiary

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local operation completely owned by a foreign firm

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political risk

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The likelihood that political forces will cause drastic changes in a country's business environment that will adversely affect the profit and other goals of a business enterprise

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political risk-analysis

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tries to forecast political disruptions that can threaten the value of a foreign investment

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tariffs

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A tax on imported goods

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nontarrif barriers

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nontax methods of increasing the cost or reducing the colume of imported goods

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protectionism

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A government's establishment of economic policies that restrict imports to protect domestic industries.

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NAFTA

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-North American Free Trade Agreement linking Canada the united states and Mexico

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WTO

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(World Trade Organization)--an international organization based in Geneva that monitors and enforces rules governing global trade

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the European union

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political and economic alliance of European countries

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transnational corporation

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is a global corporation or MNE that operates worldwide on a borderless basis

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MNE

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multinational enterprise

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global corporation

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an MNE or MNC that conducts commercial transactions across national Boundaries

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FCPA

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it is illegal for US firms, agents on behalf, or employees to pay or offer bribes to foreign officials for purpose of gaining and or maintaining business

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low context cultures

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Cultures in which messages are direct, specific, and detailed. Not depended on a great deal of context with the message.

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high context cultures

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Cultures in which messages are indirect, general and ambiguous. Needs to be understood based on the context of the communication situation.

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monochromic culture

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people that do one thing at a time

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culture

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Beliefs, customs, and traditions of a specific group of people.

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cultural intelligence

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An individual's ability to understand and adjust to new cultures

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polychromic culture

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Like Japan, Middle East, and Latin America. Those cultures that welcome the simultaneous occurrence of many things and emphasize involvement with people over specific time

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proxemics

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How people use space to communicate

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ecological fallacy

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Erroneously basing conclusions about individuals solely on the observation of groups.

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power distance

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Degree to which societies accept the idea that inequalities in the power and well-being of their citizens are due to differences in individuals' physical and intellectual capabilities and heritage

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individualism

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Giving priority to one's own goals over group goals and defining one's identity in terms of personal attributes rather than group identifications

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collectivism

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A cultural orientation in which interdependence, cooperation, and social harmony take priority over personal goals

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uncertainty avoidance

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A national culture attribute that describes the extent to which a society feels threatened by uncertain and ambiguous situations and tries to avoid them.

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time orientation

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is the degree to which a society emphasizes short term or long term goals

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comparative management

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the study of how management practices differ among countries and cultures

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humane orientation

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the degree that a culture expects and rewards altruistic and generous behavior

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performance orientation

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The culture encourages and rewards members for excellence and performance improvements

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entrepreneurship

answer

Accepting the risk of starting and running a business.

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classic entrepreneurship

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someone willing to pursue opportunities in situations others view as problems or threats

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serial entrepreneurship

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starts and runs business and non profits over and over again

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first mover advantage

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any advantage that comes to a firm because it exploits an opportunity before any other firm does

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itrapreneurs

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display entrepreneurial behaviors as employers of larger firms

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internal locus of control

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The perception that one controls one's own fate

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necessity based entrepreneurship

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takes place because other employment options don't exist

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social entrepreneurship

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leveraging resources to address social problems

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social entrepreneur

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An individual who pursues initiatives and opportunities and mobilizes resources to address social problems and needs in order to improve society and well-being through creative solutions

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small business

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A business with under 500 employees that is independently managed, is owned by an individual or a small group of investors, is based locally, and is not a dominant company in its industry.

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franchise

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A legal agreement that gives an individual the right to market a company's products or services in a particular area.

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startup

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a new and temporary venture that is trying to discover a profitable business model for future success.

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lean startup

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use free software and web services while staying small and keeping operations simple

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internet entrepreneurship advertising model

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advertisers pay to be displayed

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internet entrepreneurship subscription model

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visitors pay for value

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internet entrepreneurship intermediary model

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fee for bringing buyers and sellers together

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internet entrepreneurship transaction model

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sells something customers want to buy

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succession problem

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the issue of who will run the business when the current head leaves

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succession plan

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The process of identifying a plan for the orderly replacement of key employees.

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business incubators

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Protected environments for new, small businesses.

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SBDC

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Small Business Development Centers are located throughout the United States and are administered by the SBA. They provide management assistance to entrepreneurs and new business owners.

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business plan

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A formal planning step that focuses on the entire venture and describes all the elements involved in starting it.

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sole proprietorship

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business owned and usually operated by one person who is responsible for all its debts

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partnership

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A business in which two or more persons combine their assets and skills

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corporation

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A business owned by stockholders who share in its profits but are not personally responsible for its debts

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LLC

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Business structure that offers its owners the advantage of limited liability and partnership-like taxation, in which profits are passed through to the owners and taxed on their personal income tax returns.

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debt financing

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Funds raised through various forms of borrowing that must be repaid

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equity financing

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Funds raised from operations within the firm or through the sale of ownership in the firm.

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venture capitalist

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individuals or companies that invest in new businesses in exchange for partial ownership of those businesses

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IPO

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Initial Public Offering

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angel investor

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Wealthy individuals who seek high returns through private investments

Schermerhorn "Management" 11e 3,4,5&6 – Flashcards

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