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Definition
| established standards of good or bad, or right or wrong |
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| collective brainpower or shared knowledge of a worker |
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| Intellectual capital equation |
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| Capital = competency X commitment |
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| someone whose mind is a critical asset to employers |
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| describes differences among workers in gender, race, religion, sexual orientation and able-bodieness |
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| The ability to use technology and commitment to stay informed on the latest technological developments |
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| an invisible barrier limiting career advancement of women and minorities |
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| 3 leaves consisting of full time employees, freelancersm independent contractors and part time employees |
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| people change jobs more often and work on flexible contracts with a shifting mix of employers |
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| being able to realistically asses yourself and actively manage your personal development |
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| a collection of people working together to achieve a common purpose |
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| transforms resource outputs from the environment into product outputs |
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| the quantity and quality of work performance with resource utilization considered |
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| Performance Effectiveness |
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| is an OUTPUT measure of task or goal accomplishment |
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| is an INPUT measure of resource cost associated with the goal |
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| person who supports activates and is responsible for the work of others |
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| guides the performance of the organization as a whole |
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| oversee the work of large departments |
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| report to the middle managers and supervise non-managerial workers |
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| directly contribute to producing the organization's goods or services |
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| use special technical expertise to advise and support line workers |
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| are responsible for one are such as finance, marketing etc. |
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| are responsible for complex multifunctional skills |
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| is a manager in a public or nonprofit organization |
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| view of organizations, shows customers at the top served by workers who are supported by managers |
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| is the process of setting objectives and determining what should be done to accomplish them |
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| is the process of assigning tasks , allocating resources and coordinating work activities |
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| is the process of arousing enthusiasm and inspiring efforts to achieve goals |
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| is the process of measuring performance and taking action to ensure desired results |
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| 4 main functions of managers |
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Definition
| planning, organizing, leading and controlling |
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| What is accepted as good or right as opposed to bad or wrong in the context of the governing moral code |
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| A broad belief about what is appropriate behavior |
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•Preferences about desired end states
•Goals one strives to achieves
•Examples: self respect, family security, and freedom |
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•Preferences regarding the means to desired ends
•The way you go about achieving your goals
•Honesty, ambition imagination and self discipline |
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•Greatest good for the greatest number of people
•Asses actions in terms of their consequences
•Example: cutting the work force during a recession to keep the company profitable
•Drawbacks: future outcomes are often hard to predict |
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•Long term self interest
•Society will be best off if everyone acts in a way that maximizes their own utilty or happiness
•Drawbacks: not everyone can self regulate themselves |
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•Respects and protects the fundamental rights of the employee
•Drawbacks: does not ensure outcomes are beneficial to the majority of society |
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•Treats people impartially and fairly
•Procedural Justice- policies and rules are fairly applied to all individuals
•Ex) sexual harassment charge having the same weight on a senior executive |
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| out comes are distributed fairly |
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| people treat one another with dignity and respect |
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| exchange or transaction is fair to all parties |
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Definition
Interpersonal roles
• How a manager interacts with other people. Figurehead, leader, liaison
Informational roles
• How a manager exchanges and processes information. Monitor, disseminator, spokesperson
Decisional roles
• How a manager uses information in decision making. Entrepreneur, disturbance handler, resource allocator, negotiator |
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| develops action priorities for accomplishing golds and plans |
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| is the process of creating positive relationships with people who can help advance agendas |
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| is a capacity to get things done with the support and help of others |
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| is a change in behavior that results from experience |
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| is culturally aware and informed on international affairs |
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| materials or services are purchased around the world or local use |
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| a local firm pays a fee to a foreign firm for rights to make or sell it products |
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| a fee paid to a foreign business for rights to locally operate using its name, branding, and methods |
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| Foreign Direct investment |
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Definition
| is building, buying all, or buying part ownership of a business in another country |
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| is job creating through foreign direct investment (building, buying all, or buying part ownership of a business in another country) |
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| operates in another country through co ownership by foreign and local parties |
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| Global Strategic alliance |
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Definition
| partnership in which foregin and domestic firms share resources and knowledge for mutual gains |
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| is a local operation completely owner by a foreign firm |
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| builds an entirely new operation in a foreign country |
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| •There is no one right way to behave, determined by context |
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| •Suggest ethical standards apply absolutely across all cultures |
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| •Is an attempt to impose ones ethical standards on another culture |
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| •Situation that offers potential benefit or gain that also might be considered unethical |
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| personal rule or strategy for making ethical decisions |
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| Decisions are made based on following social norms and meeting expectations of others |
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| Principle Centered Behavior |
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| Self centered behavior making deals for personal gain and to avoid harm or punishment |
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| potential loss in value of a foreign investment due to instability and political changes in the host country |
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| member nations agree to negotiate and resolve disputes about tariffs and trade restrictions |
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| Most favored nation status |
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Definition
| gives trading partner for most favorable treatment of imports and exports |
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| taxes governments levy on imports from abroad |
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| is a call for tariffs and favorable treatments to protect domestic firms from foreign competition |
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| north American free trade agreement linking Canada, us and mexico in an economic alliance |
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| political and econmic alliance of eurpoean countries |
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Definition
| or MNC(multinational corporation) is a multinational business with extensive operations in more than one foreign country |
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| Transnational corporation |
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| is an MNC that operates worldwide on border-less basis |
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| involves illegal practices to further ones business interest |
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| meets the needs of the present without hurting future generations |
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| the tendency to believe that ones culture is superior to others |
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Term
| Low context vs. High Context cultures |
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Definition
• Low context cultures-emphasize communication via spoken or written words
• High context cultures-rely on nonverbal and situational cues as well as on spoken or written words |
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| Monochronic vs. Polychronic cultures |
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Definition
• Monochronic culture-people tend to do one thing at a time
• Polychronic cultures- time is used to accomplish many things at once |
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Definition
how people use space to communicate
E.g Americans like their space |
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| Foreign Corrupt Practices act |
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Definition
| makes it illegal for US firms and their representatives to engage in corrupt practices overseas |
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Term
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Definition
| acting with the mistaken assumption that a generalized cultural value, such as American individualism or Japanese masculinity, applies equally to all members of the culture |
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Definition
Is the degree to which a society accepts unequal distribution of power
E.g high power distance cultures such as India we expect to find a great respect for age, status and titles |
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Definition
the degree to which a society emphasizes individuals and their self interests
E.g the U.S has high Individual collectivism, we use "me" and "I" a lot in conversations, meetings, presentations etc. |
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Definition
the degree to which a society tolerates risk and uncertainty
low uncertainty cultures display openness to change and innovation |
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Definition
the degree to which a society values assertiveness and materialism
tendency to show stereotypical Masculine/feminine traits and reflect different attitudes toward gender roles |
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the degree to which a society emphasizes short term or long term goals
American tendencies toward impatience and desire for quick gratifications, show short term thinking |
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| studies how management practices differ among countries and cultures |
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| help people understand the ethical aspects of decision making and incorporate high ethical standards into their daily behavior |
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Definition
| Chooses to behave unethically |
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| fails to consider the ethics of the behavior, but is often unintentional |
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| Makes ethical behavior a personal goal |
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| exposes the misdeeds of an organization |
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| acting in ways that support a high quality of life for present and future generations |
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| Corporate Social Responsibility (CSR) |
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Definition
| obligation of an organization to serve the interest of society in addition to their own interest |
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| evaluates performance on economic, social, and environmental criteria |
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Definition
| persons or groups who are directly affected by the behavior of the organization and that hold a stake in its performance |
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| capacity of the stakeholder to positively or negatively affect the operations of the organization |
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Definition
| indicates the Validity or a stakeholders interest to the company |
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| extent to which the stakeholders concerns need immediate attention |
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| focus on maximizing profit |
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Definition
| focus on broader social welfare as well as profits |
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| Avoids social responsibility and reflects mainly economic priorities |
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| seeks protection by doing the minimum legally required |
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| accepts social responsibility and tries to satisfy economic, legal, and ethical criteria |
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| meets all the criteria of social responsibility including discretionary performance |
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| situation in which something is obviously going wrong or has the potential to go wrong |
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| situation that offers the chance for a better future if the right steps are taken |
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| Rational Step by step fashion |
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| Approaches problems in a flexible spontaneous fashion |
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| Multidimensional Thinking |
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| ability to address many problems at once |
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| focuses on long term objectives while being flexible in dealing with short term problems |
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| take a realistic approach to problem solving, like hard facts and clear goals |
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| Comfortable with unstructured situations, Idealistic |
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| insightful and tend to avoid details, value flexibility and human relationship |
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| realistic and prefer facts and are open to communication |
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| Occurs when an unexpected problem that can lead to disaster if not resolved quickly and appropriately |
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| § Complete information on possible action alternatives and their consequences |
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| § Lacks complete information but offers probabilities of likely outcomes |
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| Lacks so much info its hard to assign probabilities |
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| Decision making with complete information |
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| chooses the alternative giving the absolute best solution to a problem |
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| Behavioral Decision Model |
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Definition
| Decision making with limited information and bounded Rationality |
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Definition
| making decisions with the constraints of limited information and alternatives |
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Definition
| chooses the first satisfactory decision |
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| Lack of Participation Error |
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Definition
| failure to involve in a decision the persons whose support is needed to implement it |
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| Strategies for simplifying decision making |
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| § Asses a current situation by using information that is readily available |
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| Basing a decision on similarity to other situations |
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| Anchoring and Adjustment Bias |
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Definition
| Basis on decision of incremental adjustments from a prior decision point |
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Definition
| Trying to solve a problem in the context in which its perceived |
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| Focusing on only information that confirms the decision when just made |
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| § Continuation of a course of action even though it is not working |
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