Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Business MGMT
Midterm
| Question | Answer |
|---|---|
| 4 MGMT Functions | Organizing, Planning, Leading, Controlling |
| Maganager | Executive function of organization responsible for building and coordinating an entire system |
| MGMT Skills Conceptual | Organize company as a whole and relationship among its parts |
| MGMT Skills Human | Ability to work with and through people and effectively as a group member |
| MGMT Skills Technical | Understanding of the proficiency in the performance of specific tasks |
| Top Manager | Uses conceptual skills |
| Middle Manager | Uses coceptual but also a lot of human skills |
| First line manager | Uses technical skills |
| Stresses of being manager | Increased workload, supervising peers, headache of responsibility for other people, being caught in the middle |
| Classical MGMT Perspective | Scientific, rational study, effective machines, |
| Frederick Taylor | Scientific MGMT, pay for performance |
| Unity of command | each worker receives orders from one and only 1 superior |
| Division of Work | Manager work and technical work are open to suggestion to produce more work with same effort level |
| Unity of Direction | Similar activities should be grouped together under one manager |
| Scalar Chain | Chain of command goes from top to bottom, including everyone |
| Humanistic MGMT perspective | Understanding human needs, behavior and attitudes in the workplace |
| Type X manager | Strict, scientific, done by the book |
| Type Y Manager | Very humanistic, people have special needs |
| Orginizational Enviorment | All the elements existing outside the organization that have effects on organization |
| General Enviorment | Layer of external enviorment that affects orginization indirectly |
| General Environment- Technological | Scientific and technical advances in industry |
| General Environment-Natural | Elements that occur naturally such as nature, wildlife, air, water, climate etc/ |
| General Environment-Sociocultural | Represents the demographic characteristics norms and customs are the population where the orginization operates |
| General Environment-Economics | Economic health of area where organization operates |
| General Environment-Legal/Political | Federal,state and local government regulations and activities designed to influence company behavior |
| General Environment-Intl | Represents events originating in foreign countries as well as opportunities for U.S. companies in other countires |
| Task Environment-Customers | People and organizations in environment that acquire goods and services from the oprginization |
| Task Environment-Competitors | other organizations in same industry that provide goods and services to same customer base |
| Task Environment-Suppliers | People and organizations that produce the raw materials the organization uses to produce its output |
| Task Environment-Labor Market | People available for hire |
| Internal Environment-Culture | Set of key values, understandings and norms that members of an organization share |
| Internal Environment-Management | The attainment of organizational goals in an effective and efficient manner through plannijng, organizing, leading and controlling resources |
| Corporate Culture | Should match needs of external environment, importance is growing |
| Corporate culture-visible | Dress code, symbols slogans and ceremonies |
| Corporate Culture-Invisible | Deeper values and shared understandings held by organizational memebers |
| Adaptability Culture | A culture characterized by values that support the company's ability to interpret and translate signals from the environment into new behavior responses |
| Achievement Culture | result oriented culture |
| Involvement Culture | Culture that places high value on meeting the needs of employees and values cooperation and equality |
| Consistency Culture | Values and rewards a methodical, rational, orderly way of doing things |
| Managerial Success | Global mindset and international experience |
| Global Economy | Borderless world means consumers can no longer tell you which country they are buying from |
| Intl marketing-Exporting | manufacture products in home country and and transfers products to foreign countries |
| Intl Marketing-Outsourcing | international division of labor to attain cheapest sources of labor and supplies |
| Intl marketing-Licensing | Entry strategy in which organization in one country makes certain resources available to company in another to participate in the production and sale of its products abroad |
| Intl marketing-Franchising | Form of licensing-Organization provides its foreign franchises with complete package of materials and services |
| intl marketing-Joint Venture | variation of direct investment in which an organization shares costs and risks with another firm to build a manufacturing facility, develop new products, or setup sales and distribution network |
| intl Marketing- Acquisition | Acquiring another organization already in business |
| Intl Marketing-greenfield Venture | Building a subsidiary in foreign country from scratch |
| Exchange rates | Values between currencies and can have a huge impact on international transactions |
| US Managers | Dont understand that values and behaviors done in US do not always translate to other parts of the world |
| High context Culture | Communication enhances personal relationships-Asian cultures |
| low context Culture | Communication is used to exchange facts and information-germany, sweden |
| Intl Trade Alliances | Gatt-General Agreement on trades and Tariffs European Union-27 member states, uses euro North America Free Trade Agreement-Free exchange between US, Canada, and Mexico WTO-World Trade Organization-monitors all trading Southeast Asia Trade Agreement |
| European Union | Euro used by 15 states, some European countries felt economy was too strong to join |
| Ethics Utilitalarian Approach | Moral behaviors should produce the greatest good for greatest number |
| Ethics Individualism | Acts are moral when they promote individuals best long term interests |
| Ethics Moral rights | Moral decisions are those that best maintain the rights of those affected |
| Ethics Justice | Decisions must be based on standards of equity, fairness, and impartiality |
| Ethics Distributive | Different treatment of people should not be based on arbitrary characteristics |
| Ethics Procedural Justice | Requires rules be administered fairly |
| Ethics | The code of moral principles and values that govern the behaviors of a person or group with respect to what is right or wrong |
| Ethics Managers and Employees | Often benefit from norms and values to guide decision making |
| Stakeholders | Any group within or outside the organization that has a stake in the organizations performance |
| Code of Ethics | Formal Statement of the organizations values regarding ethics and social issues |
| Mission Statement | Broad stated definition of the organizations basic business scope and operations that distinguishes it from similar types of organizations |
| Goal | Desired future state the organization attempts to realize |
| Strategic goals and plans | Big picture, long term. Often made by senior and top management |
| Tactical Goals/plans | Made by middle management-goals that define major divisions and departments of company to reach overall organizational goal-and plans to accomplish specific part of company strategy |
| Operational goals/planning | First line managers/supervisors-plans and goals that support tactial procedures-day to day operations-achieving operational goals |
| Single use plans | One time use-on the fly planning |
| Standing plans | Plans used over and over |
| Contingency Planning | Define company's response to be taken in case of emergency, setbacks, or unexpected conditions |
| Crisis Planning | Plans that enable company to cope with unexpected events that are so devastating that they have the potential to destroy the organization if not prepared |
| Strategy Should..... | Exploit Core Competence, Build Synergy (defined as two or more agents working together to achieve a goal that is unattainable by agents working independently) Deliver Value |
| Decision | Choice made from available alternatives |
| Decision Making | Process of identifying problems and opportunities and resolving them |
| Programmed Decisions | Situations that occur often to enable or enact rules |
| NonProgrammed Decisions | Situations that are unique or poorly defined and unstructured-dealt with on the fly |
| Decisions Differ Because | Certainty: The necessary information needed is available Risk: The future outcome is subject to change regardless of information available Uncertainty: Information about future events are incomplete Ambiguity and Conflict: The goals and problem uncle |
| Organizing | The deployment of organizational resources to achieve strategic goals |
| Line Departments | Perform tasks that reflect the organization's primary goal-work directly with customers |
| Staff departments | Departments that provide specialized skills in support of line departments |
| Chain of Command | Illustrates authority and responsibility |
| Authority | Formal and legitimate right to make decisions and issue orders assigned to positions- not people accepted by subordinates flows down vertical hierarchy |
| Responsibility | The duty to perform the task or activity assigned |
| Delegation | The process managers use to transfer authority and responsibility to others |
| 3 Critical Inovation Strategies for Changing Products and Technologies | Exploration-Ideas for products and technology are born Cooperation-Guides internal and external cooperation Entrepreneurship-generating and pushing forward new ideas |
| 4 Roles in organizational change-Inventor | Develops and understand technical aspects for idea-does not know how to gain support or make business of idea |
| 4 Roles in organizational change-Champion | Believes in idea, visualizes benefits, obtains financial and political support, overcomes obstacles, weighs costs and benefits |
| 4 Roles in organizational change-Sponsor | High level manager who removes organizational barriers-approves and protects idea within organization |
| 4 roles in organizational change-Critic | Provides reality test, looks for shortcomings, provides hard nosed criteria that idea must pass |
| 3 challenges requiring OD-Mergers/Acquisitions | Same ideas but two organizations do not share overall values, practices, and beliefs. |
| 3 challenges requiring OD-Organizational decline/revitalization | Low levels of trust, high turnover, low innovation. Must confront stress, and have open communication to resolve |
| 3 challenges requiring OD-Conflict management | Resolving conflict within company |
| OD Steps-Unfreezing | Expose the problem and the need for change |
| OD Steps-Changing | Experiment with new behaviors and learn new skills |
| Od Steps-Refreezing | Acquire new attitudes and values with organizational reward |
Created by:
KeeganKidder
Popular Management sets