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Management Terms

Ch. 2

TermDefinition
Intranet A private computer network that uses internet technology and is accessible only to organizational members.
Technology Any equipment, tools, or operating methods that are designed to make work more efficient.
Global Village Refers to the concept of a boundary less world where goods and services are produced and marketed worldwide.
Multinational Corporations Any type of international company that maintains operations in multiple countries.
Multi-domestic Corporations An MNC that decentralizes management and other decisions to the local country where it's doing business.
Global Corporation An MNC that centralizes management and other decisions in the home countries
Transitional (Borderless) Organization A structural arrangement for global organizations that eliminate artificial geographical barriers
Global Sourcing Purchasing materials or labor from around the world wherever it is the cheapest
Exporting Making products domestically and selling them abroad
Importing Acquiring products made abroad and selling the domestically
Licensing An agreement primarily used by manufacturing businesses in which an organization gives another the right, for a fee, to make or sell it's products, using its technology or product specifications
Franchising An agreement primarily used by service businesses in which an organization give another organization the right, for a fee, to use its name and operating methods
Global Strategic Alliance A partnership between an organization and a foreign company partner(s) in which resources and knowledge are shared in developing new products or building production facilities
Joint Venture A specific type of strategic alliance in which the partners agree to form a separate, independent organization for some business purpose
Foreign Subsidiary A direct investment in a foreign country that involves setting up a separate and independent facility or office
Parochialism A narrow focus in which managers see things only through their own eyes and from their own perspective
Global Leadership and Organizational Behavior Effectiveness A program that studies cross-cultural leadership behaviors
Green Management When managers recognize and consider the impact of their organization and its practices on the natural environment
Social Responsibility A business firm's intention, beyond its legal and economic obligations, to do the right things and act in ways that are good for society
Social Obligation When a business firm engages in social actions because of its obligation to meet certain economic and legal responsibilities
Social Responsiveness When a business firm engages in social actions in response to some popular social need
Ethics A set of rules or principles that defines right and wrong conduct
Code of Ethics A formal document that states an organization's primary values and ethical rules its expects managers and non-managerial employees to follow
Workforce Diversity Ways in which people in a workforce are similar and different from one another in terms of gender, age, race, sexual orientation, ethnicity, cultural, background, and physical abilities and disabilities
Gen Y A population group that includes individuals born about 1978 to 1994
Family-Friendly Benefits Benefits that provide a wide range of scheduling options that allow employees more flexibility at work, accommodating their needs for work/life balance
Contingent Workforce Pat-time, temporary, and contract workers who are available for hire on an as-needed basis
Empowerment When employees have decision-making discretion
Continuous Improvement An organization's commitment to continually improving the quality of a product or service
Kaizen The Japanese term for an organization's commitment to continuous improvement
Work Process Engineering Radical or quantum change in an organization
Created by: Nolan12345
 

 



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