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MGMT 101: Wharton

QuestionAnswer
The basic and inherent work to be done by the organization and its parts Work
The characteristics of individuals in the organization Individual
The various structures, processes, methods that are formally created to get individuals to perform tasks Formal Organizational Arrangements
The emerging arrangements including structures, processes, relationships Informal organization
What are the four organizational components? work, individual, formal organizational arrangements, and informal organization
Critical features of work degree of uncertainty associated with the work, including such factors as interdependence and routineness; types of skill and knowledge demands the work poses; types of rewards the work inherently can provide; constraints on performance demands inherent
critical features of individual knowledge and skills individuals have; individual needs and preferences; perceptions and expectancies; background factors; demography
critical features of formal organizational arrangements grouping of functions, structure of units; coordination and control mechanisms; job design; work environment; human resource managment systems; reward systems; physical location
critical features of informal organizaiton leader behavior; norms, values; intragroup relations; intergroup relations; informal working arrangements; communication and influence patterns; key roles; climate; power, politics
surveillance of a firm's external environment to predict environmental changes and detect changes already under way environmental scanning
a firms analysis of the external environ. that tracks the evolution of environ. trends sequences of events, or streams of activities environmental monitoring
firm's activities of collecting and interpreting data on competitors, defining and understnading the industry, and identifying competitors strengths and weaknesses competitive intelligence
development of plausible projections about the direction scope, speed, and intensity of environmental change environmental forecasting
in depth approach to environmental forecasting that involves experts' detailed assesments of societal trends, economics, politics, technology, or other dimensions of the external environment scenario analysis
framework for analyzing a company's internal and external environment and that stands for strengths, weaknesses, opportunities, and threats. SWOT analysis
factors external to an industry, and usually beyond a firm's control, that affect a firm's strategy. general environment
factors that pertain to an industry and affect a firm's strategies competitive environment
complements products or services that have an impact on the value of a firm's products or services
clusters of firms that share similar strategies strategic groups
a method of evaluating a firm's performance using performance measures from the customers', internal, innovation and learning, and financial perspectives. balanced scorecard
The quandary people find themselves in when they have to decide if they have to decide if they should act in a way that might help another person or group even though doing so might go against their own self-interest. ethical dilemma
inner-guiding moral principle, values, and beliefs that people use to analyze or interpret a situation and then decide what is the "right" or appropriate way behave. ethics
people and groups that supply a company with its productive resources and so have a claim on and stake in the company. stakeholders
ethical decision is a decision that produces the greatest good for the greatest number of people utilitarian rule
ethical decision is one that best maintains and protects the fundamental or inalienable rights and privileges of the people affected by it. moral rights rule
an ethical decision is a decision that distributes benefits and harms among people and groups in a fair, equitable, or impartial way justice rule
an ethical decision is one that a manager has no reluctance about communicating to people outside the company because the typical person in a society would think it is acceptable. practical rule
the willingness of one person or group to have faith or confidence in the goodwill of another person, even though this puts them at risk trust
esteem or high repute that individuals or organizations gain when they behave ethically reputation
standards that govern how members of a society should deal with one another in matters involving issues such as fairness, justice, poverty, and the rights of the individual. societal ethics
occupational ethics standards that govern how members of a profession, trade, or craft should conduct themselves when performing work-related activities
personal standards and values that determine how people view their responsibilities to ohers and how they should act in situations when their own self-interests are at stake individual ethics
guiding practices and beliefs through which a particular company and its managers view their responsibility toward their stakeholders organizational ethics
the wa a company's managers and employees view their duty or obligation to make decisions that protect, enhance, and promote the welfare and well-being of stakeholders and society as a whole social responsibility
companies and their managers choose not to behave in a socially responsible way and instead behave unethically and illegally. obstructionist approach
companies and their managers behave ethically to the degree that they stay within the law and abide strictly with legal requirements defensive approach
companies and their managers behave legally and ethically and try to balance the interests of different stakeholders as the need arises accommodative approach
companies and their managers actively embrace socially responsible behavior, going out of their way to learn about the needs of different stakeholder groups and utilizing organizational resources to promote the interests of all stakeholders. proactive approach
a manager responsible for communicating and teaching ethical standards to all employees and monitoring their conformity to those standards ethics ombudsman
strateegic analysis of an organization that uses value creating activities value chain analysis
sequential activities of the value chain that refere to the creation of the product, its sale and transfer to the buyer, and its service after sale, including inbound logistics, operations, outbound logistics, marketing and sales, and service. primary activities
strateegic analysis of an organization that uses value creating activities value chain analysis
sequential activities of the value chain that refere to the creation of the product, its sale and transfer to the buyer, and its service after sale, including inbound logistics, operations, outbound logistics, marketing and sales, and service. primary activities
activities of the value chain that add value by themselves or add value through important relationships with both primary activities and other support activities; including procurement, tech development, human resource management, and general admin support activities
firm's generic strategy based on appeal to the industrywide market using a competitive advantage based on low cost. overall cost leadership
a firm's achievement of similarity, or being "on par," with competitors with respect to low cost, differentiation, or other strategic product characteristic. competitive parity
a firm's generic strategy based on creating differences in the firm's product or service offering by creating something that is perceived industrywide as unique and valued by customers differentiation strategy
the stages of introduction, growth, maturity, and decline that typicaly occur over the life of an industry industry life cycle
a firm's generic strategy based on creating differences in the firm's product or service offering by creating something that is perceived industrywide as unique and valued by customers differentiation strategy
the stages of introduction, growth, maturity, and decline that typicaly occur over the life of an industry industry life cycle
1st stage of industry life cycle: new products that are not known to customers, poorly defined market segments, unspecified product features, low sales growth, rapid tech change, operating losses, and a need for financial support introduction stage
2nd stage of product life cycle: strong increases in sales, growing competition, developing brand recognition, need for financing complementary value chain activities such as marketing, sales, customer service, and research and development growth stage
third stage of product life cycle: slowing demand growth, saturated markets, direct competition, price competition, and strategic emphasis on efficient operations maturity stage
break in industry tendency to continuously augment products, characteristic of the product life cycle, by offering products with fewer product attributes and lower prices. reverse positioning
break in industry tendency to incrementally improve products along specific dimensions, characteristic fo the product life cycle, by offering products that are still in the industry but that are perceived by customers as being different. breakaway positioning
fourth stage of the product life cycle characterized by falling sales and profits, increasing price competition, and industry consolidation. decline stage
strategy that reverses a firm's decline in performance and returns it to growth and probability turnaround strategy
firm entering a different business in which it can benefit from leveraging core competencies, sharing activities, or building market power related diversification
cost savings from leveraging core competencies or sharing related activities among businesses in a corporation economies of scope
firm's strategic resources that reflect the collective learning in the organization core competenicies
having activities of two or more businesses' value chains done by one of the businesses sharing activities
firms' abilities to profit through restricting or controlling supply to a market or coordinating with other firms to reduce investment market power
an expansion or extension of the firm by integrating preceding or successive production processes. vertical integration
perspective that the choice a transaction's governance structure, such as vertical integration or market transaction, is influenced by transaction costs, including search, negotiating, contracting, monitoring, and enforcement costs transaction cost perspective
positive contributions of the corporate office to a new business as a result of expertise and support provided and not as a result of substantial changes in assets, capital structure, or management parenting advantage
corp. intervention in new business changes assets, capital structure, management, selling off: parts of business, changing management, unnecessary sources of expenses, changing strategies, and infusing new business with new tech, processes, reward systems restructuring
method of assessing the competitive position of a portfolio of businesses within a corporation, suggesting strategic alternatives for each business, and to identify priorities for the allocation of resources across the businesses. portfolio management
incorporation of one firm into another through purchase acquisitions
combining of two or more firms into one new legal entity mergers
exit of a business from a firm's portfolio divestment
cooperative relationship b/n two or more firms strategic alliances
new entities formed w/n a strategic alliance in which two or more firms, the parents, contribute equity to form the new legal entity joint ventures
an organizational form in which the owner/ manger makes most of the decisions and controls activities, and the staff serves as an extension of the top executive simple organizational structure
an organizational form in which the major functions of the firm, such as production, marketing, R&D, and accounting, are grouped internally. divisional organizational structure
an organizational form in which products, projects, or product market divisions are grouped into homogenous units Strategic business unit (SBU) structure
an organizational form that is a variation of the divisional organizational structure in which the divisions have a high degree of autonomy both from other divisions and from corporate headquarters holding company structure
an organizational form in which there are multiple lines of authority and some individuals report to at least two managers matrix organizational structure
business organization that, from inception, seeks to derive significant advantage from the use of resources and the sale of outputs in multiple countries. global start-up
organizations in which the boundaries including vertical horizontal external and geographic boundaries are permeable boundaryless organizational design
an organization in which nonvital functions are outsourced, which uses the knowledge and expertise of oustide suppliers while retaining strategic control modular organization
a continually evolving network of independent companies that are linked together to share skills, costs, and access to one another's markets virtual organization
organization designs that attempt to simultaneously pursue modest, incremenal innovations as well as more dramatic, breakthrough innovations ambidextrous organization designs
activities that managers engage in to attract and retain employees and to ensure that they perform at a high level and contribute to the accomplishment of organizational goals human resource management (HRM)
the process by which managers design the components of an HRM system to be consistent with each other, with other elements of organizational architecture, and with the organization's strategy and goals strategic human resource management
equal right of all citizens to the opportunity to obtain employment regardless of their regardless of their gender, age, race, country of religion, or disabilities equal employment opportunity
activities that managers engage in to develop a pool of qualified candidates for open positions. recruitment
the process that managers use to determine the relative qualifications of job applicants and their potential for performing well in a particular job selection
activities that mangers engage in to forecast their current and future needs for human resources human resource planning
to use outside suppliers and manufacturers to produce good and services outsource
identifying the tasks, duties, and responsibilites that makeup a job and the knowledge, skills, and abilities needed to perform the job job analysis
job change that entails no major changes in responsibility or authority levels lateral move
honest assessment of the advantages and disadvantages of a job and organization realistic job preview (RJP)
degree to which a tool or test measures the same thing each time it is used reliability
degree to which a tool or test measures what it purports to measure validity
teaching organizational members how to perform their current jobs and helping them acquire the knowledge and skills they need to be effective performers training
building the knowledge and skills of organizational members so that they are prepared to take on new responsibilities and challenges development
teaching organizational members how to perform their current jobs and helping them acquire the knowledge and skills they need to be effective performers training
building the knowledge and skills of organizational members so that they are prepared to take on new responsibilities and challenges development
assesment of which employees need training or development and what type of skills or knowledge they need to acquire needs assessment
training that takes place in the work setting as employees perform their job tasks on the job training
evaluation of employees job performance and contributions to their organization performance appraisal
process through which managers share performance appraisal info with subordinates, give subordinates an opportunity to reflect on their own performance, and develop, with subordinates, plans for the future. peformance feedback
an appraisal that is based on facts and is likely to be numerical objective appraisal
an appraisal that is based on perceptions of traits, behaviors, or results subjective appraisal
performance appraisal by peers, subordinates, superiors, and sometimes clients who are in a position to evaluate a manager's performance 360-degree appraisal
an appraisal conducted at a set time during the year and based on performance dimensions and measures that were specified advance. formal appraisal
an unscheduled appraisal of ongoing progress and areas for improvement informal appraisal
relative position of an organizations pay incentives in comparison with those of other organizations in the same industry employing similar kinds of workers pay level
arrangement of jobs into categories reflecting their relative importance to the organization and its goals, levels of skill required, and other characteristics pay structures
plan from which employees can choose benefits that they want cafeteria style benefit plan
activiites that managers engage in to ensure that they have effective working relationships with the labor unions that represent employees' interests labor relations
negotiations between labor unions and managers to resolve conflicts and disputes about issues such as working hours, wages, benefits, working conditions, and job security. collective bargaining
psychological forces that determine the direction of a person's behavior in an organization, a person's level of effort, and a person's level of persistence. motivation
behavior that is performed for its own sake intrinsically motivate behavior
behavior that is performed to acquire material or social rewards or to avoid punishment. extrinsically motivated behavior
anything a person gets from a job or organization outcome
anything a person contributes to his or her job or organization input
theory that motivation will be high when workers believe that high levels of effort lead to high performance and high performance leads to the attainment of desired outcomes expectancy theory
in expectancy theory, a perception about the extent to which effort results in a certain level of performance expectancy
in expectancy theory, a perception about the extent to which performance results in the attainment of outcomes instrumentality
in expectancy theory, how desirable each of the outcomes available from a job or organization is to person valence
the extent to which an individual has a strong desire to perform challenging tasks well and to meet personal standards for excellence need for achievement
extent to which an individual is concerned about establishing and maintaining good interpersonal relations, being liked, and having the people around him or her get along with each other need for affiliation
the extent to which an individual desires to control or influence others need for power
theory of motivation that focuses on people's perceptions of the fairness of their work outcomes relative to their work inputs. equity theory
the justice, impartiality, and fairness to which all organizational members are entitled equity
lack of fairness inequity
the intequity that exists when a person perceives that his or her own outcome-input ratio is less than the ratio of a referent underpayment inequity
inequity that exists when a person perceives that his or her own outcome-input ratio is greater than the ratio of a referent overpayment inequity
a system of shared values, assumptions, beliefs, and norms that unite the members of an organization organizational culture
the aspects of culture that an observer can hear, feel, or see. visible culture
aspects of corporate culture that are not readily observed, but instead can be perceived from the way managers and employees explain and justify their actions and decisions espoused values
a firm's principles that are widely shared, that operate unconciously, and that are considered nonnegotiable core values
process of internalizing or taking organizational values as ones own socialization
first stage of socialization, consisting of the values, attitudes, biases, and expectations the employee brings to the organization when first hired prearrival
stage of socialization at which the individual begins to compare expectations about the firm's culture with reality encounter stage
stage of socialization at which the employee is induced to bring his or her values and ways of doing things closer to those of the organization metamorphosis stage
icons and objects that communicate organizational values, used by management to convey and sustain shared meaning among employees cultural symbols
the values and assumptions shared within an organization organizational culture
observable symbols and signs of an organizations culture artifacts
programmed routines of daily organizational life that dramatize the organizations culture rituals
planned displays of organizational culture, conducted specifically for the benefit of an audience ceremonies
process of diagnosing cultural relations between companies and determining the extent to which cultural clashes will likely occur. bicultural audit
process by which individuals learn the values, expected behaviors, and social knowledge necessary to assume their roles in the organization organization socialization
stress that results when employees perceive discrepancies between their preemployment expectations and on the job reality reality shock
method of improving organizational socialization in which job applicants are given a balance of positive and negative information about the job and work context realistic job preview (RJP)
increased creativity, problem solving, and innovation, higher quality decisions, improved processes, global competitiveness, increased quality, improved communication, reduced turnover and absenteeism and increased employee morale benefits of teams
groupthink, grouphate, social loafing or free riding, risky shift potential limitations of teams
team developmental stages forming, storming, norming,performing, adjourning
merger strategy: assimilation acquired company embraces acquiring firm's culture. works best when acquired firm has a weak culture
merger strategy: deculturation acquiring firm imposes its culture on an unwilling acquired firm. rarely works--may be necessary only when acquired firm's culture doesn't work but employees don't realize it
merger strategy: integration merging companies combine the two or more cultures into a new composite culture. works best when existing cultures can be improved
seperation merging companies remain distinct entities with minimal exchange of culture or organizational practices. works best when firms operate successfully in different businesses requiring different cultures.
Created by: uramanda
 

 



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