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MGMT 320
Mid-Term 1 Vitaly Nishanov
32
Management
Undergraduate 3
04/26/2011

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Cards

Term
First Phase of Industrial Revolution (1760-1870)
Definition

 

  • Transfer of Knowledge
    • Study Tours
    • Lunar society
  • Industry Innovations
    • Mining
    • Metallurgy
    • Steam Power
    • Textile Manufacturing
    • Factories
    • Machine tools
  • Transportation
    • Navigable Rivers
    • Roads
    • Railways
Term
Second Phase of Industrial Revolution (1871-1914)
Definition

  • Electricity
    • Home and public life
    • Electric Machines
  • Communication
    • Telephone and telegraph
    • Printing press
    • Radio
  • Industry
    • Steel
    • Internal combustion engine
    • Assembly line
  • Urbanization & public transportation
  • Entertainment
    • Cinema
    • Gramophone

Term
Gini Index
Definition
Used to measure global income equality. (100% = 1 person has everything, 0% = pure equality)
Term
Human Development Index
Definition
Statistical tool used to measure human progress, shows increases in overall human welfare since 1900.
Term
Nation-state
Definition
Unit of human organization in which individuals and cultural groups can influence their circumstances and future. Sets boundaries between nations and resources.
Term
Ideology
Definition
Coherent system of ideas, relying upon a few basic assumptions about reality that may or may not have any factual basis, but are subjective choices that serve as the seed around which further thought grows. Neither right nor wrong, but only a relativistic intellectual strategy for categorizing the world.
Term
Characteristics of Ideologies
Definition

  1. Must have power over cognitions
  2. Must be capable of guding one's evaluations
  3. Must provide guidance towards action
  4. Must be logically coherent

Term
Theories of Leadership & Chance
Definition

  1. Leaders simply ride the wave of history (A. Toynbee)
  2. Great leaders themselves change history (T. Carlyle)

Term
Key environments of Business
Definition

  1. Economic
  2. Legal
  3. Governmental
  4. Technological
  5. Natural
  6. Cultural
  7. Internal

Term
Internal Environment
Definition

  1. Board of Directors
  2. Managers
  3. Owners/Shareholders
  4. Employees

Term
Protestant Work Ethic
Definition

  • Emphasized the necessity of constant labor in a person's calling as a sign of personal salvation
  • Work was a means of serving God and if a person earned great wealth through hard work, it was a sign of God's approval

Term
Business Etiquette
Definition
The action or actions we take when we are with others
Term
Business Ethics
Definition
The principles of right or good conduct governing business people and organizations
Term
Theory of Amorality
Definition
Business should be conducted without reference to the full range of ethical standards, restraints, and ideals in society. (Adam Smith, Milton Friedman)
Term
Theory of Moral Unity
Definition
One basic ethical standard exists; behavior and business decisions acted on basis of same principles. Popular among today's managers.
Term
Ethical System 1
Definition
Good and Evil are not compatible with each other. It is impossible to make good and bad actions at the same time. Using a bad means to achieve a good goal/end is bad.
Term
Ethical System 2
Definition
Good and Evil are compatible with each other and supplement each other. It is impossible to make good actions without doing something bad and vice versa. Using a bad means to achieve a good goal/end is good.
Term
Robert Owen
Definition

  • English sociaist and social reformer
  • Considered the father of cooperative movement and the Union
  • Educated the young
  • Sold quality goods at little more than cost, passing on the savings to customers

Term
New Harmony
Definition

  • First experiment with socialism
  • banned money and other commodities
  • only lasted four years

Term
Oneida Community
Definition

  • Utopian commune practicing Communalism
  • lasted 30 years

Term
Marxism
Definition

Identity of the social class derived from its relationship to the means of production (as opposed to the notion that class is determined by wealth alone)

Term
The Proletariat
Definition
According to Marx: "Those individuals who sell their labor power and who do not own the neams of production"
Term
The Bourgeoisie (Capitalists)
Definition
According to Marx: "Those who own the means of production and buy labor power from the proletariat, who are recompensed by a salary, thus exploiting the workers"
Term
Surplus Labor
Definition
Unpaid labor appropriated by employers in the form of work-time and outputs, on the basis that employers own and supply the means of production worked with.
Term
Socialist Mode of Production
Definition
Meant to be a society based on worker's control of all production, witha property form equating consumption with productive labor. Merging of mental and manual labor is meant ot increase the level of productivity and quality of the productive forces.
Term
Populism
Definition

  • A political doctrine or philosophy that aims to defend the interests of the common people against an entrenched, self-serving or corrupt elite.
  • Advocated government ownership of railroad, telegraph and telephone companies and banks
  • Demanded direct election of US senators
  • Sought to abandon the gold standard and expand the money supply
  • Failed to forge an effective political coalition

Term
Progressives
Definition

  • Sought to cure social ills by using government to control perceived abuses of big business
  • Used courts to break up trusts and monoplies
  • Outlawed campaign contributions by corporations
  • Restricted child labor
  • Passed a corporate income tax
  • Regulated food and drug companies and public utilities

Term
Primitive Communism
Definition
Seen in cooperative tribal societies
Term
Slave Society
Definition
Develops when the tribe becomes a city-state. Aristocracy is born
Term
Feudalism
Definition
Aristocracy is the ruling class. Merchants develop into capitalists
Term
Capitalism
Definition
Capitalists are the ruling class, who create and employ the true working class
Term
Socialism and Communism
Definition
Workers gain class consciousness and overthrow the capitalists
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