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ManagementTest2
Terms
| Question | Answer |
|---|---|
| What is Organizational change? | Any alterations in an organization's people, structure, and technology. |
| What are change agents? | Persons who act as catalysts for managing the change and assume responsibility for the process. Types-managers, nonmanagers, and outside consultants. |
| What is organizational development? | Techniques or programs to change people and the nature of work relationships. Examples-team building, sensitivity training, surveys, process consultation, and intergroup development. |
| What is stress? | The adverse reaction people have to excessive pressure placed on them from extraordinary demands, constraints, or oppurtunities. Examples-tests, presentations, findng a job, and big papers. |
| What is creativity? | The ability to combine ideas in a unique way or to make an unusual association. |
| What is innovation? | Turning the outcomes of the creative process into useful products, services, or work methods. About products or process. |
| What is decision criteria? | Factors that are important(relavent) to resolving the problem, such as cost, risk(fear of failure), and outcomes. Not of equal imporatnce. |
| What is rational decision making? | Describes choices that are logical and consistent while maximizing value. Problems are clear and unambiguous. |
| What is bounded rationality? | Decision making that's rational, but limited(bounded) by an individuals ability to process information. Can't know all the alternatives. |
| What is satisfice? | Accepting solutions that are "good enough." |
| What is escalation of commitment? | Tendency to invest additional resources in an apparently losing proposition, influenced by effort, money, and time already invested. |
| What is intuitive decision making? | Unconscious process created out of distilled experience. |
| What is evidence-based management(EBMgt)? | An emerging movement to explitly use the current, best advice in management decision-making. |
| What is a programmed-structured-problem? | Problem for which the existing state and desired state are clearly identified, and the methods to reach the desired state are fairly obvious. Straightforward, familiar, and easily defined problems. |
| What is a programmed decison? | A repetitive decision that can be handled by a routine approach. 1-Goals are clear.2-Problem is familiar and easily defined. 3-Structured, low-level, repetitive problem. |
| What is a non-programmed decision? | A unique and nonrecurring decision that requires a custom-made solution. |
| What is a procedure? | A series of sequential interrelated steps. Example-Follow the steps for returned merchandise. |
| What is a rule? | An explicit statement that limits what a manager or employee can or cannot do. Example-Managers must approve all returns over $50. No credit refunds for cash. |
| What is a policy? | A general guideline for making a decision about a structured problem. Example-Accept all customers returns with or without a reciept. |
| What are unstructured problems? | Problems that are new or unusual and for which information is amiguous or incomplete. |
| What is risk? | A situation in which the manager is able to estimate the liklihood(probability) of outcomes that result from the choice of particular alternatives. Personalit has a lot to do with how you make decisions. |
| What is linear thinking style? | A person's tendency to use external data/facts; the habit of processing information through rational, logical thinking, and analytical. |
| What is nonlinear thinking style? | A person's preference for internal sources of info; a method of processing this information with internal insights, feelings, and hunches. Intuitive, creative, and insightful. |
| What is heuristics? | Using "rules of thumbs" to implify decision making. Approximating. A flaw in judgement caused by your own memory, social attribtion, and statistical errors. |
| What is planning? | A primary managerial activity that involves: Defining organizational goals and developing plans for work activites. |
| What are goals? | Desired outcomes-individuals/groups, organization. Provide direction and evaluation performance criteria. |
| What are SMART goals? | Specific, measurable, attainable/achievable, relavant/realistic, timebound. Goals need to be written down. Write down your reward. Focus on ends(goal) not means(plan). |
| What are plans? | Documents that outline how goals are to be accomplished. Describe resource allocations. Establish schedules. |
| What are stated goals? | Written down/official. |
| What are real goals? | What actually goes on. |
| What are strategic plans? | Establish the organizations overall goals. Seek to position the organization in terms of its environment. Cover extended periods of time. (5-10 yrs) |
| What are operational plans? | How to meet those goals. Specify the details of how the overall goals are to be achieved. Cover a short time period. (1yr or less) |
| What are long-term plans? | Time frames extending beyond 3yrs. |
| What are short-term plans? | Time frames of 1yr or less. |
| What are specific plans? | For on unique task or project. Example-LRC. |
| What ae directional plans? | Flexible plans, set out general guidelines, and allow some discretion. |
| What is a single-use plan? | Unique situation. |
| What are standing plans? | Ongoing task performed repeatedly. |
| What is a mission? | Statement of the purpose of an organization. Company's reason to be. Philosophy. |
| What is strategic management? | What managers do to develop the organization's strategies. High level plans to achieve goals. |
| What is a business model? | How a company is going to make money. |
| What are opportunities? | Positive trends in the external environment. |
| What are threats? | Negative trends in the external environment. |
| What are strengths? | Company's unique combination of resources. |
| What are weaknesses? | Resources I need, but don't process. Things I don't do well. |
| What are resources? | An economic or productive factor required to accomplish an activity. |
| What are capabilities? | Ability to perform actions. |
| What is core competenies? | Main strengths or strategic advatages of a business. |
| What is SWOT anaylisis? | Strategic planning method used to evalute the strengths,weaknesses, opportunities, and threats involved in a business. |
| What is corporate strategy? | High level, what business you should be in. |
| What is competitive advantage? | What sets a business apart, its distictive edge. |
| What is competitive strategy/ | Long-term action plan that is devised to help a company gain a competitive advantage over its rival. |
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