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MGMT 3820 Final
| Term | Definition |
|---|---|
| Strategic management | What managers do to develop the organization's strategies |
| Corporate strategies | What businesses a company wants to be in |
| Opportunities | Positive trends in the external environment |
| Business strategies | How an organization will compete in its businesses |
| Growth strategies | The organization wants to expand the number of markets served or products offered |
| Stability strategy | An organization continues to do what it's currently doing |
| Renewal strategy | Designed to address performance decline |
| BCG Matrix | A strategy tool that guides resource allocation decisions on the basis of market share and growth rate of business units |
| Strategic business unit (SBU) | The single independent business of an organization that formulate their own competitive strategies |
| functional strategy | How specific functional areas will develop their strategies to support the overall business and corporate strategies |
| Function strategy of the HR department | Standardized Training Programs, Lean Staffing Structures, etc. |
| Functional strategy of the Marketing department | Emphasizing low price in promotion, mass market targeting, etc |
| Organizing | A management function that involves arranging and structuring work to accomplish the organization's goals |
| Organizational structure | The formal arrangement of jobs within an organization |
| Organizational chart | The visual representation of an organization's structure |
| Organizational design | The process of creating or changing an organization's structure |
| Work specialization | Dividing work activities into separate job tasks. Division of labor. Makes efficient use of the diversity of skills that workers have |
| Departmentalization | The basis by which jobs are grouped together. 5 forms: Functional (HR, Marketing), Geographical (E, W, N, S), Product (iPhone, division, Mac division), Process (sawing, assembling, finishing) |
| Chain of command | The line of authority extending from upper organizational levels to the lowest levels, which clarifies who reports to whom |
| Authority | The line of authority extending from upper organizational levels, which clarifies who reports to whom |
| Line authority | Entitles a manger to direct the work of an employee |
| Staffe authority | Positions with some authority that have been created to support, assist, and advise those holding line authority |
| Responsibility | The obligation or expectation to perform any assigned duties |
| Unity of command | The management principle that each person should report to only one manager |
| Span of control | The number of employees a manager can efficiently and effectively manage |
| Centralization | The degree to which decision making is concentrated at upper levels of the organization |
| Decentralization | The degree to which lower-level employees provide input or actually make decisions |
| Employee empowerment | Giving employees more authority (power) to make decisions. Employees that are "close to the action" have better information and can make better decisions |
| Formalization | How standardized an organization's jobs are and the extent to which employee behavior is guided by rules and procedures |
| Mechanistic organization | An organizational design that's rigid and tightly controlled |
| Organic organization | An organizational design that's highly adaptive and flexible |
| Unit production | The production of items in units or small batches (organic) |
| Mass production | The production of items in large batches (mechanistic) |
| Process production | The production of items in continuous processes (e.g. assembly line) (organic) |
| Simple structure | An organizational design with little departmentalization, wide spans of control, centralized authority, and little formalization |
| Functional structure | An organizational design that groups together similar or related occupational specialties (HR<marketing, finance) |
| Divisional structure | An organizational structure made up of separate, semiautonomous units or divisions |
| Team structure | An organizational structure in which the entire organization is made up of work teams. |
| Matrix structure | An organizational structure that assigns specialists from different functional departments to work on one or more projects |
| Project structure | An organizational structure in which employees continuously work on projects |
| Telecommuting | A work arrangement in which employees work at home and are linked to the workplace by computer |
| Worker Adjustment & Retraining Notification Act (1990) | Requires employers with more than 100 employees to provide 60 days' notice before a mass layoff or facility closing |
| Lilly Ledbetter Fair Pay Act (2009) | Changes the statute of limitations on pay discrimination to 180 days from each paycheck |
| Patient protection & Affordable Care Act (2010) | Healthcare legislation that puts in place comprehensive health insurance forms |
| Labor Union | An organization that represents workers and seeks to protect their interests through collective bargaining |
| Human Resource Planning | Ensuring that the organization has the right number and kinds of capable people in the right places and at the right times. |
| Job analysis | An assessment that defines jobs and the behaviors necessary to perform them |
| Job Specifications | A written statement of the minimum qualifications a person must possess to perform a given job successfully |
| Decruitment | Reducing an organization's workforce |
| Selection | Screening job applicants to ensure that the most appropriate candidates are hired. Involves predicting which applicants will be successful if hired |
| Validity | Accuracy of measurement |
| Reliability | Consistency of measurement |
| Realistic Job Preview (RJP) | A preview of a job that provides both positive and negative information about the job and the company |
| Motivation | The process by which a person's efforts are energized, directed, and sustained toward attaining a goal |
| Physiological needs | A person's needs for food, drink, shelter, and other physical needs |
| Safety needs | A person's needs for security and protection from physical and emotional harm |
| Social needs | A person's needs for affection, belongingness, acceptance, and friendship |
| Esteem needs | A person's needs for internal factors such as self-respect, autonomy, and achievement, and external factors such as status, recognition, and attention |
| Self-actualization needs | A person's need to become what he or she is capable of becoming |
| McGregor's Theory X | The assumption that employees dislike work, are lazy, avoid responsibility, and must be coerced to perform |
| McGregor's Theory Y | The assumption that employees are creative, enjoy work, seek responsibility, and can exercise self-direction |
| Hygiene factors (Herzberg's Two-Factor Theory) | The extrinsic factors that remove job dissatisfaction |
| Motivators (Herzberg's Two-Factor Theory) | The intrinsic factors that improve job satisfaction |
| Need for Achievement (Three-needs theory) | The drive to succeed and excel in relation to set of standards |
| Need for Power (Three-needs theory) | The need to make other behave in a way that they would not have behaved otherwise |
| Need for affiliation (Three-needs theory) | The desire for friendly and close interpersonal relationships |
| Goal-setting theory | The proposition that specific goals increase performance and those difficult goals, when accepted, result in higher performance than do easy goals |
| Reinforcement theory | The theory that behavior is a function of its consequences |
| Reinforcers | Consequences immediately following a behavior, which increase the probability that the behavior will be repeated |
| Skill variety (5 core job dimensions) | The degree to which a job requires a variety of activities so that an employee can use a number of different skills and talents |
| Task identity (5 core job dimenstions) | The degree to which a job requires completion of a whole and identifiable piece of work |
| Task significance (5 core job dimensions) | The degree to which a job has a substantial impact on the lives or work of other people |
| Autonomy (5 core job dimensions) | The degree to which a job provides substantial freedom, independence, and discretion to the individual in scheduling work and determine the procedures to be used in carrying it out |
| Feedback (5 core job dimensions) | The degree to which carrying out work activities required by a job results in the individuals obtain direct and clear information about his or her performance effectiveness |
| Equity Theory | Employee compares his or her job's input-outcomes ratio with that of relevant others and then corrects any inequity |
| Leadership | A process of influencing a group to achieve goals |
| Behavioral theories | Leadership theories that identify behaviors that differentiate effective leaders from ineffective leaders |
| Autocratic style | A leader who dictates work methods, makes unilateral decisions, and limits employee participation |
| Democratic style | A leader who involves employees in decision making, delegates authority, and uses feedback as an opportunity for coaching employees |
| Laissez-faire style | A leader who lets the group make decisions and complete the work in whatever ways it sees fit |
| Initiating strucure | The extent to which a leader defines his or her role and the roles of group members in attending goals |
| Consideration | The extent to which a leader has work relationships characterized by material trust and respect for group members' ideas and feelings |
| High-high leader | A leader high in both initiating structure and consideration |
| Managerial grid | A two-dimensional grid for appraising leadership styles. Concern for people and concern for production |
| Fielder contingency model | A leadership theory prosing that effective group performance depends on the proper match between a leader to control and influence |
| Least-preferred coworker (LPC) questionnaire | A questionnaire that measures whether a leader is task or relationship oriented |
| Leader-member relations | Describes the degree of confidence, trust, and respect employees have for their leader |
| Task structure | Describes the degree to which job assignments are formalized and structured |
| Position power | Describes the degree of influence a leader has over activities such as hiring, firing, discipline, promotions, and salary increases |
| Situational leadership theory (SLT) | A leadership contingency theory that focuses on followers' readiness |
| Path-goal theory | A leadership theory that says the leader's job is to assist followers in attaining their goals and to provide direction or support needed to ensure that their goals are compatible with the goals of the group or organization |
| Directive leader | Lets followers know what's expected of them |
| Supportive leader | Concern for followers' needs |
| Participative leader | Consults with followers for decision making |
| Achievement-oriented leader | Sets challenging goals |
| Leader-member exchange theory (LMX) | The leadership theory that says leaders create in-groups and out-groups |
| Controlling | A management function that involves monitoring, comparing, and correcting work performance |
| Key Performance Indicator (KPI) | A measurable target aligned with strategic goals that indicates how the company is performing |
| Immediate corrective action | Corrects problems at once to get performance back on track |
| Basic corrective action | Looks at how and why performance deviated before correcting the source of deviation |
| Performance | The end result of an activity |
| Organizational performance | The accumulated results of all the organization's work activites |
| Organizational productivity | (Efficiency) the amount of good or services produced divided by the inputs needed to generate that out put |
| Organizational effectiveness | A measure of how appropriate organizational goals are and how well those goals are being met |
| Disciplinary action | Actions taken by a manager to enforce the organization's work standard and regulations |
| Progressive disciplinary action | An approach to ensure that the minimum penalty appropriate to the offense is imposed |
Created by:
jd3ttmar
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