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MGT
Terms and Definitions
| Question | Answer |
|---|---|
| Scientific management | Taylor’s approach of studying work scientifically to find the one best way, selecting and training workers, and tying pay to output. |
| Time-and-motion study | The analysis of work into its component motions to eliminate waste, pioneered by the Gilbreths. |
| Bureaucracy | Weber’s organizational form built on hierarchy, written rules, division of labor, impersonality, and promotion by merit |
| Administrative principles | Fayol’s identification of the functions of management and his fourteen principles of administration. |
| Hawthorne effect | The tendency of people to change their behavior, often improving performance, when they know they are being observed. |
| Human resources perspective | The view that jobs should be designed to meet higher human needs and that satisfied, engaged workers can be more productive |
| Theory X and Theory Y | McGregor’s contrasting managerial assumptions about whether workers must be controlled or can be trusted with responsibility. |
| Management science | The quantitative approach applying statistics, modeling, and optimization to management decisions. |
| Open system | An organization viewed as interdependent parts that exchange inputs and outputs with the environment. |
| Contingency view | The idea that the most effective management practice depends on the situation; there is no single best way. |
| Total quality management | An approach making quality everyone’s job through customer focus, employee involvement, and continuous improvement (kaizen). |
| Learning organization | Senge’s idea of an organization skilled at creating and sharing knowledge and continuously adapting. |
| Muskism | Slobodian and Tarnoff’s term (2026) for the management and political ideology associated with Elon Musk, framed as a successor to Fordism. |
| Evidence-based management | Basing managerial decisions on the best available evidence — data, research, and tested experience — rather than fads or untested belief. |
| Gantt chart | Henry Gantt’s bar chart for scheduling work against time. |
| Synergy | The idea that a system produces more than the sum of its separate parts. |
| Quality circle | A small group of employees who meet regularly to identify and solve quality problems. |
| Closed system | A small group of employees who meet regularly to identify and solve quality problems. |
| Management | The process of working with and through other people to accomplish organizational goals efficiently and effectively. |
| Efficiency | Using resources such as time, money, and talent to accomplish goals with minimal waste |
| Effectiveness | Achieving the goals that matter to the organization. |
| Career-readiness competencies | The eight cross-field skills, defined by NACE, that prepare graduates for the workplace, including communication, critical thinking, leadership, and teamwork. |
| Technical skills | The knowledge and ability to perform or understand the specialized work of the organization. |
| Human skills | The ability to motivate, communicate with, and lead other people |
| Conceptual skills | The ability to see the organization as a whole and think strategically. |
| Five functions of management | Planning, organizing, staffing, leading, and controlling — the durable description of the manager’s work. |
| DART model | A talent-centered framework organizing management into four quadrants — directing and deploying, attracting and assessing, rewarding and retaining, and teaching and transforming — and eight component verbs. |
| Managerial roles | Mintzberg’s ten roles, grouped as interpersonal, informational, and decisional, that together describe what managers actually do. |
| Talent | A person’s combination of abilities, knowledge, and potential that an organization can apply to its work. |
| DART outcomes | The result each quadrant produces: alignment (directing and deploying), the best human capital (attracting and assessing), engagement (rewarding and retaining), and greater productivity (teaching and transforming). |
| Buying versus making talent | The choice between hiring people who can already do the job and developing people whose potential exceeds their current skill. |
| Good jobs strategy | Zeynep Ton’s argument that investing in and developing employees is a source of higher productivity and lower cost, not mere charity. |
| Planning | The conscious, systematic process of deciding what an organization will pursue and how it will achieve it. |
| Goals and plans | The ends an organization aims to reach and the means it will use to reach them. |
| SMART goals | Goals that are Specific, Measurable, Achievable, Relevant, and Time-bound. |
| Management by objectives (MBO) | — A process in which manager and employee jointly set objectives and review progress against them. |
| Standing vs. single-use plans | Plans that guide recurring activities (policies, procedures, rules) versus plans for a one-time situation. |
| Contingency plans | “What if” plans specifying responses to changed circumstances. |
| Strategic, tactical, operational planning | Long-term direction, departmental translation, and frontline procedures, respectively. |
| Mission, vision, values | An organization’s basic purpose, long-term aspiration, and guiding principles |
| Strategy | The pattern of decisions through which an organization pursues competitive advantage. |
| SWOT analysis | An assessment of internal strengths and weaknesses and external opportunities and threats. |
| Core capability | Something an organization does exceptionally well that is valuable, rare, and hard to imitate. |
| Porter’s five forces | Rivalry, threat of entry, substitutes, buyer power, and supplier power, which shape industry attractiveness. |
| Generic strategies | Porter’s low-cost, differentiation, and focus strategies for competing at the business level. |
| Blue ocean strategy | Kim and Mauborgne’s approach of creating uncontested new market space rather than competing in crowded “red oceans.” |
| Value innovation | Pursuing differentiation and low cost at once to open new market space, using tools such as the strategy canvas and the eliminate-reduce-raise-create grid. |
| BCG matrix | A portfolio tool sorting business units into stars, cash cows, question marks, and dogs. |
| Hedgehog Concept | Collins’s intersection of passion, what you can be best at, and your economic engine. |
| BHAG | A Big, Hairy, Audacious Goal that galvanizes long-term effort |
| Balanced scorecard | Kaplan and Norton’s tool translating strategy into measures across financial, customer, process, and learning perspectives. |
| PESTEL analysis | A scan of the political, economic, social, technological, environmental, and legal forces shaping an organization. |
| Competitive advantage | What lets a firm outperform rivals in a way that is hard for them to copy. |
| Scenario planning | Preparing for the future with several plausible “what-if” stories rather than a single forecast. |
| Strategy levels | The corporate, business, and functional layers at which strategy is set |
Created by:
PracticeMakesPerfect