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Management Exam 1
Chapters 1-5
| Question | Answer |
|---|---|
| Planning, organizing, leading, controlling | 4 functions of managements |
| Setting performance objectives and how to achieve them. | Planning function |
| Arranging tasks, people, and other resources. | Organizing function |
| Inspiring people to work harder. | Leading function |
| Measuring performance | Controlling function |
| Output measures task or goal accomplishment | Effectiveness |
| Input measure of resource cost associated with goal accomplished. | Efficiency |
| Top management, middle management, First line managers/leaders | Levels of managers |
| Organizing vison | Top manager |
| Organizing, leading first | Middle manager |
| Leading, in-store | First line manager |
| Technical, interpersonal, conceptual | Managerial skills |
| Applying expertise | Technical skill |
| Working well with others | Interpersonal (human) skill |
| Thinking analytically | Conceptual skill |
| Ability to manage ourself and relationships effectively. | Emotional intelligence |
| Both technical and human skills, work in "communities of action" to share tasks and solve problems. | Smart workforce |
| A core group of full-time long-term workers supported by others who work contracts part-time. | Shamrock organizations |
| Changing jobs more often, independent contracts with a mix of employers ex: doordash | Free agent, gig-economy |
| Ability to understand oneself, accept responsibility, learn from experience | Self-management |
| Your skill set, reputation, and career potential seen through eyes of others. | Personal brand |
| Focus on valuing human capital, Demise "demand and control", Emphasis of teamwork, preeminence of tech/remote working, importance of networking, new workforce expectations, concern for sustainability | Changing organizations |
| Individuals personal beliefs/morals about whether a behavior, action, or decision is right or wrong. | Ethics |
| Broad beliefs about what is appropriate behavior. | Values |
| Preferences about desired end states or life goals "what are you trying to accomplish" | Terminal value |
| Preferences about the means to accomplishing desired ends "how are you going to accomplish" | Instrumental value |
| Moral rights view, individualism view, utilitarian view, justice view | 4 views of ethical behavior |
| Does a decision or behavior maintain the fundamental rights of all human beings? | Moral rights view |
| Does a decision or behavior promote one's long-term self interests? | Individualism view |
| Does a decision or behavior do the greatest good for the most people? | Utilitarian view |
| Does a decision or behavior show fairness and impartially? | Justice view |
| Situations that offer potential benefits/gain that may be considered unethical | Ethical dilemmas |
| Expose misdeeds of others in organizations | Whistle blowers |
| Person, group, or other organizations directly affected by behavior of the organization and hold a stake in its performance | Stakeholders |
| Individual or entity that owns shares of stock in a corporation, making them partial owner of corp. | Shareholders |
| Profit, people, planet | 3 P's of organizational performance |
| Is the decision economically sound? | Profit aspect |
| Does the decision treat people dignity and respect? | People aspect |
| Is the decision good for the environment? | Planet aspect |
| Only responsibility for management is to maximize profits | Classic view |
| Businesses should focus on broader welfare and profits | Socioeconomic view of CSR |
| Sees economic progress for a firm and social progress for society as fundamentally interconnected | Shared value view |
| Consists of economic, legal-political, sociocultural, technological, and natural environment conditions in which an organization operates | General environment |
| Includes people and groups with who an organization interacts | Task environment |
| Process of putting new ideas into practice | Innovation |
| A better way of doing things | Product innovation |
| New ways of making money for the firm | Business model innovation |
| New approaches to addressing social problems ex: poverty | Social business innovation |
| Launched from a lower organizational level and diverse locations, including emerging markets | Reverse innovation |
| Creates product or service that become so widely used, it largely replaces prior competition | Disruptive innovation |
| Imagining, Designing, Experimenting, Assessing, Scaling | Hamel's Wheel of Innovation |
| World's stock of natural assets ex: soil | Environmental capital |
| Resources, markets, and competition are worldwide in scope | Global economy |
| Market entry strategies, direct investments | Process of globalization |
| Global souring, importing/exporting, licensing and franchising | Market entry strategies |
| Joint ventures, foreign subsidiaries | Direct investment |
| Language, Time, Culture, Space | Cultural environment |
| Shared set of beliefs, values, and patterns of behavior common to group of people. | Culture |
| Purpose of study is to understand how cultures influence management and organization practices. | Hofstede's Model of National Cultures |
| Power distance, Individualism-collectivism, Uncertainty orientation, Masculinity-Femininity, Time orientation | Hofstede's 5 dimensions |
Created by:
ogcraw