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Final Management

TermDefinition
Thinking strategically Means to take the long-term view and to see the big picture, including the organization and the competitive environment, and consider how they fit together.
Strategic management refers to the set of decisions and actions use to formulate and execute strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals.
Three levels of strategy in organizations Functional level, business level, corporate level.
Purpose of strategy Achieving a competitive advantage • Exploit core competence • Build synergy • Deliver value
Functional level strategy pertain to the major functional department within the business unit. Involves all the major function including finance, research and development, marketing, and manufacturing.
Business level strategy pertain to each business unit or product line. Strategic decision at this level concerns amount on advertising,.action and extend of research and development, product changes
Corporate level strategy pertain to the organization as a whole and the combination of business unit and product line that make up the corporate entity
three decision-making types of models classical model, administrative model, political model
Classical model based on rational economic assumptions and manager's belief about what ideal decision making should be; This model has Verizon within the management literature because managers are expected to make decisions that economically sensible
Administrative model is considered to be descriptive, meaning it describe how managers actually make decision in complex situations rather than dictating how this should make decisions according to a theoretical ideal
Bounded rationality means that people have limits, or boundaries on how rational they can be
Satisficing means that decision-makers choose the first solution alternative that satisfying minimal decision criterion
Intuition represents quick apprehension of decision situation based on past experience but without conscious thought
Political model Useful for making nonprogrammed decision when conditions are uncertain, information is limited, and our managers conflicts about goals to pursue or what course of action to take
Coalition Is an informal alliance among managers will support a specific goal
Coalition building Is the process of forming alliance among managers
Personal decision style refers to the distinction among people with respect to how they evaluate problems, generate alternatives, and make choices
Directive style is used by people who prefer simple, clear-cut solution to problems
Analytical style likes to play consider solution based on as much data as they can gather
Conceptual style like to consider a broad amount of information
Behavioral style often the style adopted by manager having a deep concern for others as individuals
Organizing the development of organizational resources to achieve strategic goals
Chain of command is the unbroken line of authority that means all employees in an organization and shows who reports to whom
Unity of command means that each employee is held accountable to only one supervisor
The scalar principle refers to it clearly defined line of authority in the organization that includes all the employees
Authority is the formal and legimate right of a manager to make decision, issue orders, and allocate resources to achieve Organizationally desired outcomes
Characteristics that distinguishes Authority Authority is vested in organizational positions, not people Authority flow down the vertical hierarchy Authority is accepted by subordinates
Responsibility is the duty to perform the task or activity as assigned
Accountability the mechanism through which authority and responsibility are brought into alignment
Delegation is the process managers use to transfer authority and responsibility to positions below them in the hierarchy
line department perform tasks that reflect the organisation's primary goal and mission
Task department include all those that provide specialized skills in support of line departments
Line of authority instant people in the management position have formal authority to direct and control you need get subordinate
Staff Authority is narrower and includes the right to it dries, recommend, and consul in the staff specialists area of expertise
Span of management is the number of employees reporting to a supervisor
Tall structure has an overall narrow span and more hierarchical levels
Flat structure has a wide span, is horizontally dispersed, and has fewer hierarchical level
Centralization means that decision authority is located near the top of the organization
Decentralization the decision authority is pushed downwards to lower organizational level
Departmentalization Is the basis for grouping positions into the apartment and department into total organization
Departmentalization five approach Traditional approaches; Innovative approaches Functional divisional, and matrix ; Use of team and virtual networks
Functional structure the grouping of positions into department based on similar skills, expertise, work activities, and resources use
Divisional structure occurs when department are group together based on similar organizational output
Matrix approach combines aspects of both functional and divisional structure simultaneously in the same part of the organization; It evolved as a way to improve horizontal coordination and information sharing
Two-boss employees Those who reports to two supervisors simultaneously, must resolve conflict demand from the matrix bosses
The matrix boss Is the product or functional boss, who is responsible for one side of the matrix
Top leader oversees both the product and functional chain of command. He is responsible for the entire matrix
Team approach probably the most widespread trained all the Parchemin organization in recent years, it gives managers a way to delegate authority, push responsibility Tulore levels, and be more flexible and responsive in the complex and competitive global environment
Outsourcing means farming out certain activities, such as manufacturing or credit processing
Virtual network structure means that the firms subcontracts most of its major function to separate companies and coordinates their activity from small headquarters organization
Coordination refers to the quality of collaboration across department
Reengineering refers to the radical design of business processes to achieve dramatic improvement incost, quality, service, and speed
Task force is a temporary team or committee designed to solve short-term problem involving several department
Project manager is a person who is responsible for coordinating The activities of several departments for the completion of a specific project
Differentiation strategy the organization attempts to develop innovative products unique to the market
Cost leadership strategy the organization strives for internal efficiency
Two Structure strategies proposed by Porter Differentiation and Cost Leadership Strategy
Service technology is characterized by intangible outputs and direct contact between employees and customers
Digital technology is characterized by use of Internet and other digital process to conduct support business operation
Small-batch production firm produces goods in batches of one or a few pregnant designed to customer specification
Mass production this technology is distinguished by standardize production runs
Continuous process production the entire workflow is mechanized in a sophisticated and complex firm of production technology
Organizational change defined as the adoption of new idea or behavior by an organization
Disruptive innovation refers to innovation in products, services, or processes that radically change and in industry's rule of the game for producers and consumers
Reverse innovation (Trickle up innovation) The process of creating innovative low-cost product for emerging markets and then quickly and inexpensively repackaging them for sale in developing countries
Ambidextrous approach Means incorporating structures and processes that are appropriate for both the creative impulse and for the systematic implementation of innovation
Product change a change in organizations conduct our service outputs
Technology change use a change in the organization's production process, how your organization does its work
Three critical innovation strategies for changing product and technologies Exploration
Creativity refers to do generational novel light ideas that might need to perceive means or respond to opportunities for the organization
Idea incubator Provide a safe harbor where Ideas from employees throughout the company can be developed without interference from company bureaucracy or politics
Cooperation refers to creatine condition and systems to facilitate internal and external coordination and knowledge sharing
Internal innovation Successful innovation requires expertise from several department simultaneously
Horizontal linkage model Shows that research in various departments within the organization simultaneously contributes to the new product and technology
Fast cycle team Is a multifunctional, and sometimes multinational, team that works under stringent timeline and is provided with high level of resources and empowerments to accomplish an accelerated product development
External innovation Organization looks outside their boundaries to find and develop new ideas
Open innovation Means extending the search for a commercialization of new ideas beyond the boundaries of the organization and even those of the industry
Crowdsourcing Is an open innovation approach used by threadless and other companies, tap ideas from around the world and lets thousands of people participate in the innovation process via Internet
Entrepreneurship means that managers put in place processes and structures to ensure that new ideas are carried forward for acceptance and implementation
Idea Champion is a person who sees the need for and champions productive change within the organization
There are four in organizational changes inventor, champion, sponsor and critic
New venture team is a unit separate from the mainstream organization that is responsible for initiating and developing innovation
Skunkworks a separate informal, highly autonomous, and often secretive group that focuses on breakthrough ideas
New venture fund provide financial resources from which individuals or teams can grow to develop new ideas, products, or businesses
Culture change pertains to the organization as a whole, basic mindset from an organization focused on collection and compliance to the one dedicated to informing, indicating, and servicing customers
Training and development is one of the most frequently used approaches to change peoples mind
Organizational development is a plans, systematic process of change that uses behavioral science knowledge and techniques to improve an organization's house and effectiveness through its ability to adapt to the environment, improved internal relations
Unfreezing is the staging which people are made aware of problems and the need for change
Change agent a specialist who contracts with an organization to help managers facilitate change
Refreezing staging which people have incorporated new values, attitudes, and behaviors into their everyday work and the changes become institutionalized in the culture
Implementation is the final process to be manage in the change
Need for change is a disparity between actual and desired performance
Force Field analysis is a technique for determining which force drives the proposed change and which forces restrain it
Communication education They are used one solid information about the change is needed by users and others who may resist implementation
Participation involves users and potential resisters in designing the changes
Negotiation is a more formal means of achieving in cooperation. It uses formal bargaining to win acceptance and approval of the desired change
Coercion means that managers can use formal power to force employees to change
Human resources management referring to the design and application of formal systems in an organization to ensure the effective and efficient use of human talent to accomplish organizational goals
The strategic approach recognizes three key element - All managers are involved in human resource management - Employees are viewed as assets - Human resources management is a matching process, integrating the organization strategy and goals will the correct approach to managing capital
Human capital referred to the economic value of the combined knowledge, experience, skill, and capability of employees
Discrimination occurs when some applicants are hired or promoted based on criteria that are not job relevant
Affirmative action requires that an employer take positive steps to guarantee equal employment opportunities for people with in protected groups
Contingent workers are people who work for an organization, but not on a permanent or full-time basis
Telecommunicating means using a computer or Telecommunicating equipment to do work without going to an office
Finding Uses the matching model, which the organization and the individual attempt to match the needs, interests, and values that they offer each other
Human resources planning is the forecasting of human resources needs and project matching of individual with expected vacancies Recruiting (talent acquisition)
Job analysis is a systematic process of gathering and interpreting information about the essential duties, tasks, and responsibilities of a job, as well as about the context within which the job is performed
Realistic job preview D's applicant all pertinent and realistic information, positive and negative, about the job and the organization
E-cruiting recruiting jobs applicants online, it dramatically expense the organization recruiting reach
Selecting in this process employers assess applicants characteristic in an attempt to determine the fit between the job and the applicant characteristics
Application form is used to collect information about the applicants education, previews job experience, and other bar ground characteristics
Interview is used as a selection technique in almost every job category in nearly every organization
Employment test there are many types of employment tests to assess candidates on various factors considered important for the job to be performed
Cognitive ability test measures and applicants thinking, reasoning, verbal, and mathematical abilities
Physical ability test, measures the quantity such as strength, energy, and endurance maybe used for jobs such as delivery
Assessment center present a series of managerial situation to a group of applicants over a two or three day period
Online checks gauging whether the candidate is right for the company rice seeing what the person has to say about himself on the blog; Training and development
Training refer to teaching people how to perform related task to their jobs, while development means teaching people brother skill that are not only useful in their present job but also prepare them for greater responsibilities in the future
On the job training an experienced employee is asked to take new employees under beeswing and show newcomers how to perform the job duty
Corporate University is it in-house training and education facility that offers broadbase learning opportunities for employees throughout their career
Promotion from within Helps companies retain and develop valuable people
Mentoring and coaching An experienced employee guides and support cucumber or less experience employees
Performance appraisal Comprises the step of observed raising and assisting employees performance, recording the assessment, and providing feedback to the employee
Stereotyping is a performance evaluation error that occurs when managers places and employee into a class or a category based on one or a few traits or characteristics
Compensation refers to all monetary payments and all goods or commodities use in lieu of money to reward employees
Wage and salary systems The most common approach of employee compensation is job base pay, which means linking compensation to the specific task an employee performs
Compensation equity this can be done with job evaluation, which refers to the process of determining the value or worth of job within an organization through an examination of job content
Pay for performance Mean dying at least part of compensation to employees effort and performance, whether it be through merit-based pay, bonus, team incentives, or various gainsharing or profit sharing plan
Cafeteria plan benefit packages allows employee to select the benefit of greatest value to them
Rightsizing the organization Refers to intentionally reducing the company workforce to the point where the number of employee is deemed to be right for the company's current situation
Exit interview is an interview conducted with departing employees to determine reason for the departure and learn about potential problem in the organization
Three generation workforce baby boomers, heading to retirement and increasing number
Generation Y sometimes called millennials characterizes ambitious and lacking loyalty and eager for quick success
Generation X The generation in the middle, struggle with reduced guarantee of their finances
Aging worker baby boomers continue to affect the workplace
Growth in Hispanic and Asian workers the greatest increase in employment will occur with Asian it's by next ; Hispanic will make up 17% of the workforce by 2018
Woman out to numbering men beginning in 2010 women will outnumber men in the work place
Growth in foreign born population between 1980 and 2008, about 29 million immigrants enter the United States, will nearly 1/3 estimated to be unauthorized
Diversity is defined as all the ways in which people differ
Better use of employee talent Companies with the best talent are the ones with the best competitive advantage
Increased understanding of the marketplace the diverse workforce is better able to anticipate and respond to the changing consumer needs
Enhance breath of understanding in leadership positions Homogeneous top management teams tend to be myopic in their perspective
Increase quality of team problem-solving the team most diverse background bring different perspective to a discussion the result in more creative ideas and solutions
Prejudice is the tendency to view people who are different as being deficient
Discrimination acting out there prejudicial attitudes to order people or the target of their prejudice
Stereotype rigid, exaggerated, irrational beliefs associated with a particular group of people
Value differences means recognizing cultural differences and seeing these differences with an appreciative attitude
Ethnocentrism Is the belief that one's own group and subculture are in Herincou be superior to other groups and cultures
Ethnorelativism is the belief that groups and subcultures are inherently equal
Pluralism describe an environment in which the organization accommodates several subcultures, including employees will would otherwise feel isolated and ignored
Glass ceiling is a new invisible barrier desecrates woman from top management position
Opt out trend Getting off the fast-track long before it comes into view
Cultural competence is the ability to interact effectively with people of different culture
five steps to implementing a diversity plan uncovering diversity problem in the organization, strengthen top management commitment, two solution to fit balance strategy, demand result and revisit the goals, and maintain momentum to change the culture
Multicultural teams Are made up of members from diverse nation, racial, ethnic and cultural background
Certainty means that all information the decision-maker needs is fully available
Risk Means that the decision has clear-cut goals and that good information is available, but the future outcome associated with each of alternative are subject to chance
Uncertainty means that managers know which goals you wish to achieve, but information about alternatives and future event is incomplete
Ambiguity Is by far the most difficult decision situation. It means the goals to be achieved or the problem to be solved is unclear, alternatives are difficult to define, and information about the outcome is unavailable
Programmed decisions involve situation that occurred often enough to enable decision rules to be developed and applied in the future
Nonprogrammed decisions are made in response to situations that are unique, are poorly defined and largely unstructured, and have important consequences to the organization
Decision A choice made from available alternatives
Decision-making is the process of identifying problems and opportunities and then resolving them. It involves efforts both before and after the actual choice
Created by: Jylkasonga