busn 70
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| a firm’s shared values, beliefs, traditions, philosophies, rules, and role models for behavior | organizational culture
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| the arrangement of relationships of positions within an organization. Rarely is an organization, or any grp of individuals working together, able to achieve common objectives without some form of structure | structure
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| a visual display of the organizational structure, lines of authority (chain of command), staff relationships, permanent committee arrangements, and lines of communication | organizational charts
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| this division of labor into small, specific tasks and the assignment of employees to do a single task | specialization
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| the grouping of jobs into working units usually called departments, units, groups, or divisions | departmentalization
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| means not only giving tasks to employees, but also empowering them to make commitments, use resources, and take whatever actions are necessary to carry out those tasks; responsibility and accountability | delegation of authority
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| authority is concentrated at the top, and very little decision making authority is delegated to lower levels | centralized organization
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| one in which decision-making authority is delegated as far down the chain of command as possible | decentralized organization
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| The number of subordinates who report to a particular manager | span of management
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| The grouping of jobs that perform similar functional activities, such as finance, manufacturing, marketing, and human resources | functional departmentalization
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| The organization of jobs in relation to the products of the firm | product departmentalization
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| The arrangement of jobs around the needs of various types of customers | customer departmentalization
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| The grouping of jobs according to geographic location, such as state, region, country, or continent | geographical departmentalization
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| Forms of Organizational Structures | • Line structure
• Line-and-staff structure
• Multidivisional structure
• Matrix structure
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| The simplest organizational structure in which direct lines of authority extend from the top manager to the lowest level of the organization | Line structure
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| A structure having a traditional line relationship between superiors and subordinates and also specialized managers – called staff managers – who are available to assist line managers | Line-and-staff structure
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| A structure that organizes departments into larger groups called divisions | multidivisional structure
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| A structure that sets up teams from different departments, thereby creating two or more intersecting lines of authority; also called a project- management structure | matrix structure
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| Two or more individuals who communicate with one another, share a common identity, and have a common goal | Group
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| A small group whose members have complementary skills; have a common purpose, goals, and approach; and hold themselves mutually accountable | Team
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| A permanent, formal group that performs a specific task | committee
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| A temporary group of employees responsible for bringing about a particular change | task force
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| Groups similar to task forces which normally run their operation and have total control of a specific work project | project teams
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| A specific type of project team formed to devise, design, and implement a new product | product-development teams
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| Small groups of workers brought together from throughout the organization to solve specific quality, productivity, or service problems | quality-assurance teams (or Quality circles)
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| A group of employees responsible for an entire work process or segment that delivers a product to an internal or external customer | self-directed work teams (SDWT)
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| Flows from lower to higher levels of the organization, including information such as progress reports, suggestions for improvement, inquiries, and grievances | Formal Communication -- UPWARD
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| Refers to the traditional flow of information from upper organizational levels to lower levels involves direction, assignments, performance feedback, and other details about the organization | Formal Communication -- DOWNWARD
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| Involves the exchange of information among colleagues and peers on the same organizational level, such as across or within departments to inform, support, and coordinate activities | Formal Communication -- HORIZONTAL
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| When individuals from different units and organizational levels communicate to solve problems and coordinate work | Formal Communication -- DIAGONAL
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| An informal channel of communication, separate from management's formal, official communication channels | Informal Communications -- GRAPEVINE
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| The activities and processes used in making tangible products; also called production | manufacturing
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| The activities and processes used in making tangible products; also called manufacturing | production
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| The activities and processes used in making both tangible and intangible products | operations
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| The development and administration of the activities involved in transforming resources into goods and services | operations management (OM)
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| the process through which inputs are converted into outputs | transformation process
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| Making identical components or complete products. Generally costs less than a custom-designed product, speeds up production and quality control and provides consistency of function to customer. | standardization
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| Building an item in self-contained units that can be combined or interchanged to create different products Allows products to be repaired quickly, reducing labor cost, but component itself is expensive, raising the cost of repair materials. | modular design
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| Making products to meet a particular customer’s needs or wants. customer can select the model, size, color, style, or design of the product. | customization
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| Secure, public database that records all transactions and is spread across multiple computers | blockchain
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| The maximum load that an organizational unit can carry or operate | planning capacity
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| Planning Facility Locations | Considerations:
- Proximity to market
- Availability of raw materials, transportation, power and
labor
- Climatic influences and community characteristics
- Taxes and inducements
- Skills available
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| Brings all resources required to create a product to a central location | Fixed Position layout
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| a company using a fixed-position layout because it is typically involved in large, complex projects such as construction or exploration | Project organizations
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| a layout that organizes the transformation process into department that group related processes | process layout
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| A layout requiring production be broken down into relatively simple tasks assigned to workers or machines, who are usually positioned along an assembly line | Product layout
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| Design of components, products and processes on computers | computer-assisted design (CAD)
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| Employs specialized computer systems to actually guide and control the transformation process | computer-assisted manufacturing (CAM)
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| Connecting and integrating all parties or members of the distribution system in order to satisfy customers; also called logistics | Supply chain management
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| The buying of all the materials needed by the organization | purchasing/procurement
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| All raw materials, components, completed or partially completed products, and pieces of equipment a firm uses | Inventory
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| products ready for sale | finished-goods inventory
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| products partly completed | work-in-progress inventory
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| all materials purchased to be used as inputs for making other products | raw materials inventory
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| The process of determining how many supplies and goods are needed and keeping track of quantities on hand, where each item is, and who is responsible for it | inventory control
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| the optimum number of items to order to minimize the costs of managing (ordering, storing and using) them | Economic Order Quantity (EOQ)
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| Schedules the precise quantity of materials needed to make the product | Materials Requirements Planning (MRP)
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| using smaller quantities of materials that arrive “just in time” for use in the transformation process and therefore require less storage space and other inventory management expense | Just in time (JIT)
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| the degree to which a good or service meets the demands and requirements of customers | quality
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| sequence of operations through which the product must pass | routing
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| the assignment of required tasks to departments or even specific machines, workers, or teams | scheduling
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| The processes an organization uses to maintain its established quality standards | quality control
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| A uniform commitment to quality in all areas of an organization will promote a culture that meets customers’ perceptions of quality | Top quality management
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| A series of quality assurance standards designed by the International Organization for Standardization (ISO) to ensure consistent product quality under many conditions | ISO 9000
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| A comprehensive set of environmental standards that encourages companies to conduct business in a cleaner, safer and less wasteful way | ISO 14000
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| The study of the behavior of individuals and groups in organizational settings | human relations
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| An inner drive that directs a person’s behavior toward goals | motivation
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| the satisfaction of some need, and a need is the difference between a desired state and an actual state | goal
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| An employee’s attitude toward his or her job, employer, and colleagues | Morale
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| personal satisfaction and enjoyment that you feel after attaining a goal | intrinsic
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| benefits and/or recognition received from someone else | extrinsic
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| Sense of choice, competence, meaningfulness, progress | intrinsic
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| salary, bonus, commission, perks and benefits | extrinsic
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| Hawthorne Studies | social and psychological factors could significantly affect productivity and morale
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| A theory that arranges the five basic needs of people physiological, security, social, esteem, and self-actualization—into the order in which people strive to satisfy them | Maslow's Hierarchy of Needs
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| Maslow's Hierarchy of Needs | self actualization, esteem, social, security, physiological
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| Herzberg 2 Factor theory | hygiene and motivational factors
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| Relate to the work setting and not to the content of the work, include adequate wages, comfortable and safe working conditions, fair company policies, and job security | hygiene factors
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| relate to the content of the work itself, include achievement, recognition, involvement, responsibility, and advancement | motivational factors
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| assume that workers generally dislike work and must be forced to do their job | Theory X McGregor
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| assume that workers like to work and that under proper conditions employees will seek out responsibility in attempts to satisfy their social, esteem, and self-actualization needs | Theory Y McGregor
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| A management philosophy that stresses employee participation in all aspects of company decision making | Theory Z McGregor
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| how much people are willing to contribute to an organization depends on their assessment of the fairness, or equity, of the rewards they will receive in exchange | Equity theory
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| states that motivation depends not only on how much a person wants something, but also on the person’s perception of how likely he or she is to get it | expectancy theory
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| refers to the impact that setting goals has on performance; goals act a motivator to focus employee efforts on achieving certain performance outcomes | goal setting theory
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| involves changing behavior and encouraging appropriate actions by relating the consequences of behavior to the behavior itself// rewards and punishments | behavior modification
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| The addition of more tasks to a job instead of treating each task as separate | Job enlargement
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| An employee spends a specified amount of time performing one job and then moves on to another, different job | job rotation
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| The incorporation of motivational factors, such as opportunity for achievement, recognition, responsibility, and advancement, into a job | job enrichment
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| Allowing employees to choose their starting and ending times, provided that they are at work during a specified core period | flextime
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| performance of one full-time job by two people on part time hours | job sharing
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| a four-day (or shorter) period during which an employee works 40 hours | compressed work week
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| All activities involved in determining an organization’s human resources needs, as well as acquiring, training and compensating people to fill those needs | Human Resource Management
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| Determines, through observation and study, pertinent information about a job including specific tasks and necessary abilities, knowledge and skills | Job analysis
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| A formal, written explanation of a specific job, usually including job title, tasks, relationship with other jobs, physical and mental skills required, duties, responsibilities and working conditions | Job description
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| A description of the qualifications necessary for a specific job, in terms of education, experience, and personal and physical characteristics | Job specification
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| Forming a pool of qualified applicants from which management can select employees | recruiting
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| The process of collecting information about applicants and using that information to make hiring decisions | Selection
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| Prohibits discrimination in employment and created the Equal Employment Opportunity Commission | Title VII of the Civil Rights Act
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| A federal agency dedicated to increasing job opportunities for women and minorities and eliminating job discrimination based on race, religion, color, sex, national origin or handicap | Equal Employment Opportunity Commission (EEOC)
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| Prevents discrimination against persons with disabilities | Americans with Disabilities Act (ADA)
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| Focuses on discrimination against those 40 years and older | Age Discrimination in Employment Act
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| Mandates that men and women who do equal work receive the same wage | Equal Pay Act
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| Familiarizing newly hired employees with fellow workers, company procedures and the physical properties of the company | Orientation
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| Training that augments the skills and knowledge of managers and professionals | development
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| Teaching employees to do specific job tasks through either classroom development or on-the-job experience | training
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| workers learn by actually performing the tasks of the job | on the job training
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| teaches employees with lectures, conferences, video and Web-based instruction | classroom training
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| quantifiable; such as how many of something was produced or a test score | objective
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| ranking employees against each other | subjective
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| providing feedback from a panel of superiors, peers and subordinates | 360-degree feedback system
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| Occurs when employees quit or are fired and must be replaced by new employees | Turnover
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| An advancement to a higher-level job with increased authority, responsibility and pay | Promotion
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| A move to another job within the company at essentially the same level and wage | Transfer
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| Employment changes involving resignation, retirement, termination or layoff | separations
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| Wages - financial rewards based on the number of hours the employee works or the level of output achieved | financial compensation
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| A financial reward calculated on a weekly, monthly or annual basis | salary
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| Monetary rewards offered by companies for exceptional performance as incentives to further increase productivity | bonuses
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| A form of compensation whereby a percentage of company profits is distributed to the employees whose work helped to generate them | profit sharing
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| distribute company stock to employees as a form of profit sharing | ESOPs (Employee stock ownership plans)
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| - Pay based on the level of output achieved - Major advantage is this system motivates employees | Piece wages
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| - An incentive system that pays a fixed amount or a percentage of the employee’s sales - Motivates employees to sell as much as they can - Sometimes combined with time wages or salaries | Commission
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| Nonfinancial forms of compensation provided to employees, such as pension plans, health insurance, paid vacations and holidays | Benefits
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| Employee organizations formed to deal with employers for achieving better pay, hours and working conditions | Labor unions
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| The negotiation process through which management and unions reach an agreement about compensation, working hours and working conditions for the bargaining unit | Collective bargaining
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| The formal, written document that spells out the relationship between the union and management for a specified period of time – usually two or three years | Labor Contract
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| A public protest against management practices that involves union members marching and carrying anti- management signs at the employer’s plant or work site | Picketing
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| Employee walkouts; one of the most effective weapons of labor unions | Strikes
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| An attempt to keep people from purchasing the products of a company | Boycott
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| Management’s version of a strike, wherein a work site is closed so that employees cannot go to work | Lockout
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| People hired by management to replace striking employees; called “scabs” by striking union members | Strikebreakers
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| Happens when a third party is brought in to keep the two sides talking | Conciliation
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| The third party’s role is to suggest or propose a solution to the problem | Mediation
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| The settlement of a dispute by a third party whose solution is legally binding and enforceable | Arbitration
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| The participation of different ages, genders, races, ethnicities, nationalities and abilities in the workplace | Diversity
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| Legally mandated plans that increase job options for minority grps by analyzing the current pool of workers, identifying areas where women/minorities are less, & establishing hiring & promotion goals, w target dates, for addressing the discrepancy | Affirmative Action Programs
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| Principles and standards that determine acceptable conduct in business | business ethics
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| Top managers MUST: | 1. Create strong relationships with ethics and
compliance department
2. Clearly communicate expectations for
ethical behavior to all employees
3. Educate managers/supervisors about the
company’s ethics policies
4. Train managers and employees on
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| In business, trust is the glue that holds the customer relationship together | True
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| An identifiable problem, situation, or opportunity that requires a person to choose from among several actions that may be evaluated as right or wrong, ethical or unethical | Ethical issue
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| Payments, gifts or special favors intended to influence the outcome of a decision | bribery
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| Theft of time is a common area of misconduct observed in the workplace | True
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| Misuse of company resources has been identified as a leading issue in observed misconduct in organizations | True
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| Abusive or intimidating behavior is the most common ethical problem for employees | True
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| associated with a hostile workplace when a person or group is targeted and is threatened, harassed, belittled, verbally abused, or overly criticized | Bullying
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| Difficult to assess and manage because of diversity in culture and lifestyle | Abusive behavior
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| Exists when a person must choose whether to advance their own interests or those of others | Conflict on interest
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| Fairness and Honesty | Communications
Business relationships
Plagiarism
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| Factors that Influence Business ethics | Indiv standards and values
Managers' and co-workers' influence
Opportunity codes and compliance requirements
Ethical/unethical choices in business
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| Formalized rules and standards that describe what a company expects of its employees | Code of ethics
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| The act of an employee exposing an employer’s wrongdoing to outsiders such as the media or government regulatory agencies | whistleblowing
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| A business’s obligation to maximize its positive impact and minimize its negative impact on society | Social Responsibility
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| The extent to which businesses meet the legal, ethical, economic, and voluntary responsibilities placed on them by their stakeholders | Corporate citizenship
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| Triple Bottom Line (a business concept that posits firms should commit to measuring their social and environmental impact—in addition to their financial performance—rather than solely focusing on generating profit) | People
Prosperity
Planet
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| Conducting activities in a way that allows for the long-term well-being of the natural environment, including all biological entities | Sustainability
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| The buying, selling and trading of goods and services across national boundaries | International Business
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| A monopoly that exists when a country is the only source of an item, the only producer of an item, or the most efficient producer of an item | Absolute advantage
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| The basis of most international trade, when a country specializes in products that it can supply more efficiently or at a lower cost than it can produce other items | Comparative advantage
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| The transferring of manufacturing or other tasks – such as data processing – to countries where labor and supplies are less expensive | outsourcing
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| The difference in value between what a nation exports and its imports | Balance of trade
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| A nation’s negative balance of trade, which exists when that country imports more products than it exports | Trade Deficit
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| The difference between the flow of money into and out of a country | Balance of Payments
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| The physical facilities supporting a country’s economic activities, such as railroads, highways, ports, airfields, utilities and power plants, schools, hospitals, communication sys and commercial distribution sys effect the economic development | Infrastructure
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| The ratio at which one nation’s currency can be exchanged for another nation’s currency | exchange rates
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| Int’l Trade is Complex | Different laws
Trade restrictions
Changing political climates
Different ethical values
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| A tax levied by a nation on goods imported into the country | Import Tariff
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| a specific amount of money levied on each unit of product brought into the country | fixed tariff
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| based on the value of the item | Ad valorem tariff
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| Regulations that restrict the amount of currency that can be bought or sold | Exchange controls
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| Restriction on the number of units of a particular product that can be imported into a country | Quota
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| A prohibition on trade for a particular product | Embargo
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| The act of a country or business selling products at less than what it costs to produce them | Dumping
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| Political unrest may create a hostile or even dangerous environment for foreign business | true
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| A group of firms or nations that agrees to act as a monopoly and not compete with each other, in order to generate a competitive advantage | Cartel
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| Trade agreement signed by 23 nations in 1947, provided a forum for tariff negotiations and a place where international trade problems could be discussed and resolved | General Agreement on Tariffs and Trade (GATT)
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| International organization dealing with the rules of trade between nations, evolved from GATT; administers trade agreements and presents a forum for trade negotiations, monitors national trade policies, and provides training for developing countries | World Trade Organization (WTO)
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| Agreement that eliminates most tariffs and trade restrictions on agricultural and manufactured products to encourage trade among Canada, the U.S. and Mexico | North American Free Trade Agreement (NAFTA)
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| A union of European nations established in 1958 to promote trade among its members; one of the largest single markets today | European Union (EU)
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| - An international trade alliance that promotes open trade and economic and technical cooperation among member nations - Holds 55% of world GDP | Asia Pacific Economic Cooperation (APEC)
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| A trade alliance that promotes trade and economic integration among member nations in Southeast Asia | Association of Southeast Asian Nations (ASEAN)
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| An organization established by the industrialized nations in 1946 to loan money to underdeveloped and developing countries | World Bank
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| Organization established in 1947 to promote trade among member nations by eliminating trade barriers and fostering financial cooperation | International Monetary Fund
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| a foreign trade agreement that involves bartering products for other products instead of currency | countertrade agreement
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| middlemen that help companies by handling their international transactions | Export agents
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| A firm that buys goods in one country and sells them to buyers of another country. Handles all trade activities; similar to export agents but their role is broader | Trading Company
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| A trade agreement in which one company – the licensor – allows another company – the licensee – to use its company name, products, patents, brand, trademarks, raw materials and/or production processes in exchange for a fee or royalty | Licensing
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| a form of licensing in which a company agrees to provide a franchisee the name, logo, methods of operation, advertising, products, & other elements associated w the franchisor's business for financial commitment & agreement to conduct business similarly | Franchising
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| The hiring of a foreign company to produce a specified volume of the initiating company’s product to specification; the final product carries the domestic firm’s name | Contract manufacturing
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| where foreign companies transfer tasks to U.S. companies, happens more often | insourcing
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| the relocation of business processes by a company or subsidiary to another country | offshoring
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| The sharing of the costs and operation of a business between a foreign company and a local partner | joint venture
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| A partnership formed to create competitive advantage on a worldwide basis | strategic alliance
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| The ownership of overseas facilities. For companies who want more control and are willing to invest considerable resources. May involve new facilities or the purchase of an existing operation | Direct ownership
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| A corporation that operates on a worldwide scale, without significant ties to any one nation or region | Multinational Corporation (MNC)
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| A strategy that involves standardizing products (promotion and distribution) for the whole world as if it were a single | Global Strategy (Globalization)
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| A plan used by international companies - involves customizing products, promotion and distribution according to cultural technological, regional and national differences | Multinational Strategy
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| Which two of the following characterize centralized organizations? | Very little decision-making authority is delegated to lower levels.
Authority is concentrated at the top levels of the organization.
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| If an organization temporarily borrows its specialists from different functional areas to accomplish a common project, it is implementing what type of organization? | matrix
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| A matrix structure is also referred to as a(n) _______ structure. | project management
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| Most companies use _____ to determine which goods and services to provide and the features they need to possess. | marketing research
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| Many companies elect to _____ some aspect of their operations to companies that can provide these products more efficiently, at a lower cost, and with greater customer satisfaction. | outsource
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| In order to maintain quality, an organization must _____. | consistently produce what the customer wants
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| Although planning was once the sole realm of the _____ department, today's successful companies involve all departments within an organization, particularly marketing and research and development, in these decisions. | operations
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| Capacity can be measured in inputs or outputs. | True
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| When inspection tests are destructive and/or pointless to use, _____ is likely to be used in an organization. | sampling
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| ISO 9000 is designed, in part, to ______. | provide a framework for documenting how a business tests products and fixes defects
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| When does routing take place for operations managers? | after all materials have been purchased and their use determined
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| Which element(s) in the work environment was found to dissatisfy workers when not present, but when present did not serve as a motivator for workers? | pay and job security
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| The goal-setting theory assumes which three of the following? (Select all that apply.) | Goals act as motivators.
Goals help employees develop consistent behavior patterns.
Goals direct employee efforts toward an outcome.
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| B. F. Skinner, a psychologist who developed behavior modification, theory found that behavior that is ______ will tend to be increased, whereas behavior that is ______ will tend to be eliminated. | rewarded; punished
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| Job enrichment incorporates which three motivational factors into the design of the job? | achievement
advancement
recognition
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| Which motivation theory suggests that money is the sole motivator for workers? | the classical theory
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| 4 Stages of Social Responsibility: | financial
legal compliance
ethics
philanthropy
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| In some companies, human resources management is referred to as _______. | personnel management
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| A(n) _______ introduces and familiarizes a new employee with fellow workers, company procedures, and the physical property of a company. | orientation
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| Non-financial forms of compensation such as sick-leave, vacation pay, pensions, and health plans are called | benefits
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| Union workers make significantly more than nonunionized employees. | True
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| A company that needs to fill several positions is in the process of collecting information about applicants and using that information to make hiring decisions. What process is the company in? | selection
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| What are the three benefits of fostering and valuing workforce diversity? | ability to better serve a diverse customer base
reduced conflict among employees from different backgrounds
increased innovation and creativity
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| What is considered part of human resources? | compensating workers
hiring workers to fulfill company needs
training workers
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| Performance appraisals are used for which three purposes? | compensation
rewards
provide employee feedback
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| Trevor is short of his sales goal this month. He knows if he adds small items to his customer's orders, they most likely won't notice the small increase and he would be able to meet his goal. This exemplifies a(n): | ethical issue
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| A manufacturer made the decision to buy less expensive materials from a supplier which resulted in the reduced quality of its products. As a result, company sales dropped and many retailers refused to carry the product line. This is an example of ______. | how negative impressions of a business can affect its ability to achieve its goals
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| All of the following are questions to consider in determining whether an action is ethical except ______? | will this activity further my career
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| When it comes to fairness and honesty, what two actions are expected of businesses? | to avoid harming customers, employees, clients, or competitors
to follow applicable laws and regulations
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| Financial and economic viability/ social responsibility example | offering investors a healthy return on investment, including paying dividends
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| Compliance with legal and regulatory requirements/social responsibility; example | specifies in its code of conduct that payments made to foreign government officials must be lawful according to the laws of the U.S. and the foreign country.
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| Ethics, principles, and values/ social responsibility; example | offering healthcare benefits to part timers and supporting suppliers by giving fair prices
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| Philanthropic activities/social responsibility; example | Awarding grants to eligible nonprofits and to give back to its communities.
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| The activities that independent individuals, groups, and organizations undertake to protect their rights as consumers are called ______. | consumerism
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| While unemployment is seen as an economic issue, it carries ethical implications when ______. | the unemployment gap between rich and poor is large
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| Select the questions to consider when determining whether an action is ethical. | Is this action customary in your industry?
Are there legal restrictions?
Would this activity be accepted by your co-workers?
How does this activity fit with your own beliefs and values?
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| Less developed countries are characterized by ______. | a low per-capita income
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| NAFTA and the European Union are trade agreements that promote trade among member nations by eliminating tariffs and trade restrictions. | true
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| When the North American Free Trade Agreement (NAFTA) went into effect in 1994, it merged which three countries into one free trade market? | Mexico
United States
Canada
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| What was the primary benefit for the European Union (EU) of adopting the euro as a common currency? | It eliminates the need for currency conversions.
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| Tariffs and trade restrictions are part of a country's legal structure. | true
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| Which of the following are considered major hurdles to successful international trade? | economic, legal, and political barriers are considered major hurdles to successful international trade
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| a tax imposed on imports | a tariff
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| International Trade Barriers | Economic
Legal, ethical, and political
Social and Cultural
Technological
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| The levels of management in an organization – few (Flat) or many (Tall) | true
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| What is a type of profit sharing? | ESOPs (employee stock ownership plans)
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| What are the four components of the selection process of HRM? | testing
the application
reference checking
interviewing
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| Performance appraisals are used for which three purposes? | rewards
compensation
provide employee feedback
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| All of the following are part of a job analysis except _______. | the compensation associated with the job
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| results in lost productivity from the vacancy, costs to recruit replacement employees, management time devoted to interviewing, training, and socialization expenses for new employees | turnover
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