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MANGT 220

Vocab Review Ch. 1-3

TermDefinition
Management process Management process is planning, organizing, leading, and controlling the use of resources to accomplish performance goals.
Planning Planning is the process of setting goals and objectives and making plans to accomplish them.
Organizing Organizing is the process of defining and assigning tasks, allocating resources, and providing resource support.
Leading Leading is the process of arousing enthusiasm and inspiring efforts to achieve goals
Controlling Controlling is the process of measuring performance and taking action to ensure desired results.
Top Management Top managers guide the performance of the organization as a whole or of one of its major parts.
Effective and efficient Goals achieved. No resources wasted and high productivity
Effective but not efficient Goals achieved and resources wasted
Neither effective nor efficient Goals not achieved, but resources wasted
Ethics Ethics establish standards of good or bad, or right or wrong, in one’s conduct.
Terminal Values Terminal values are preferences about desired end states.
Instrumental Values Instrumental values are preferences regarding the means to desired ends
Utilitarian View Utilitarian view holds that ethical behavior delivers the greatest good to the most people.
Individualism View Individualism view holds that ethical behavior advances long-term self-interests.
Moral Rights View Moral rights view holds that ethical behavior respects and protects fundamental rights.
Justice View Justice view holds that ethical behavior treats people impartially and fairly.
Immoral Manager Managers who choose to behave unethically
Amoral Manager Managers who fail to consider the ethics of their behavior.
Moral Manager Managers who make ethical behavior a personal goal
Corporate Governance The oversight of top management by a board of directors
Culture Culture is a shared set of beliefs, values, and patterns of behavior common to a group of people
Code of Ethics Code of ethics are a formal statement of values and ethical standards.
Social Responsibility Corporate social responsibility is the obligation of an organization to serve the interests of multiple stakeholders, including society at large.
Areas of Social Responsibility o Customers who use its products o Employees and their jobs o Investors with funds at risk o The physical environment o The general social welfare
3 P's People, planet, profit
4 Social Responsibility Stances Proactive, Accommodative, Defensive, Obstructionist Highest to Lowest.
Government influences businesses Direct: Environmental protection legislation (EPA), Consumer protection legislation (FTC and FDA), Employee protection legislation (EEOC), Securities legislation (SEC). Indirect: Tax codes (IRS)
Businesses influence government Personal contacts and networks, lobbying, political action committee (PACs), Favors and other influence tactics.
Whistleblower Whistleblowers expose the misdeeds of others in organizations.
Corporate Social Audit Social responsibility audits measure an organization’s performance in various areas of social responsibility.
Created by: dom23uriarte
 

 



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