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MGMT 371
EXAM 1
147
Management
Undergraduate 1
09/20/2010

Additional Management Flashcards

 


 

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Term
management
Definition
the attainment of organizational goals in an effective and efficient manner through planning, organizing, leading, and controlling organizational resources.
Term
planning
Definition
the management function concerned with defining goals for future organizational performance and deciding on tasks and resources needed to attain them.
Term
organizing
Definition
the management function concerned with assigning tasks, grouping tasks into departments, and allocating resources to departments.
Term
leading
Definition
the management function that involves the use of influence to motivate employees to achieve the organization's goals.
Term
controlling
Definition
the management function concerned with monitoring the employee's activities, keeping the organization on track toward its goals and making corrections as needed.
Term
organization
Definition
a social entity that is goal directed and deliberately structured.
Term
effectiveness
Definition
the degree to which the organization achieves a stated goal.
Term
efficiency
Definition
the use of minimal resources-raw materials, money, and people-to produce a desired volume of output.
Term
performance
Definition

the organization's ability to attain its goals by using resources in an efficient and effective manner.

 

Term
conceptual skill
Definition
the cognitive ability to see the organization as a whole and the relationship among its parts.
Term
human skill
Definition
the ability to work with and through other people and to work effectively as a group member.
Term
technical skill
Definition
the understanding of and proficiency in the performance of specific tasks.
Term
top manager
Definition
a manager who is at the top of the organizational hierarchy and is responsible for the entire organization.
Term
middle manager
Definition
a manager who works at the middle levels of the organization and is responsible for major departments.
Term
project manager
Definition
a manager responsible for a temporary work project that involves the participation of other people from various functions and levels of the organization.
Term
first-line manager
Definition
 a manager who is at the first or second management level and is directly responsible for the production of goods and services.
Term
functional manager
Definition
a manager who is responsible for a department that performs a single functional task and has employees with similar training and skills.
Term
general manager
Definition
a manager who is responsible for several departments that perform different functions.
Term
role
Definition
a set of expectations for one's behavior
Term
social forces
Definition
the aspects of a culture that guide and influence relationships among people-their values, needs, and standards of behavior
Term
political forces
Definition
the influence of political and legal institutions on people and organizations
Term
economic forces
Definition
forces that affect the availability, production, and distribution of a society's resources among competing users.
Term
classical perspective
Definition
a management perspective that emerged during the nineteenth and early twentieth centuries that emphasized a rational, scientific approach to the study of management and sought to make organizations efficient operating machines.
Term
scientific management
Definition
a subfield of the classical perspective that emphasized scientifically determined changes in management practices as the solution to improving labor productivity.
Term
bureaucratic organizations
Definition
a subfield of the classical management perspective that emphasized management on an impersonal, rational basis through such elements as clearly defined authority and responsibility, formal record keeping, and separation of ownership and management.
Term
administrative principles
Definition
a subfield of the classical management perspective that focuses on the total organization rather than the individual worker, delineating the management functions planning organizing, commanding, coordinating, and controlling.
Term
humanistic perspective
Definition
a management perspective that emerged near the late nineteenth century and emphasized understanding human behavior, needs and attitudes in the workplace
Term
human relations movement
Definition
a movement in management thinking and practice that emphasizes satisfaction of employee's basic needs as the key to increased worker productivity.
Term
Hawthorne studies
Definition
a series of experiments on worker productivity begun in 1924 at the Hawthorne plant of western electric company in Illinois; attributed employee's increased output to managers' better treatment of them during the study.
Term
human resources perspective
Definition
a management perspective that suggests jobs should be designed to meet higher-level needs by allowing workers to use their full potential.
Term
behavioral sciences approach
Definition
a subfield of the humanistic management perspective that applies social science in an organizational context, drawing from economics, psychology, sociology, and other disciplines
Term
management science perspective
Definition
a management perspective that emerged after WWII and applied mathematics, statistics, and other quantitative techniques to manangerial problems.
Term
system
Definition
a set of interrelated parts that function as a whole to achieve a common purpose.
Term
systems theory
Definition
an extension of the humanistic perspective that describes organizations as open systems characterized by entropy, synergy, and sub-system interdependence.
Term
open system
Definition
a system that interacts with the external environment
Term
closed system
Definition
a system that does not interact with the external environment
Term
synergy
Definition
the concept that the whole is greater than the sum of its parts
Term
subsystems
Definition
parts of a system that depend on one another for their functioning
Term
systemic thinking
Definition
seeing both the distinct elements of a situation and the complex and changing interaction among those elements
Term
contingency view
Definition
an extension of the humanistic perspective in which the successful resolution of organizational problems is thought to depend on managers' identification of key variations in the situation at hand
Term
total quality management (TQM)
Definition
a concept that focuses on managing the total organization to deliver quality to customers.  four significant elements of TQM are employee involvement, focus on the customer, benchmarking, and continuous improvement.
Term
learning organization
Definition
an organization in which everyone is engaged in identifying and solving problems, enabling the organization to continuously experiment, improve, and increase its capability.
Term
supply chain management
Definition
managing the sequence of suppliers and purchasers, covering all stages of processing from obtaining raw materials to distributing finished goods to final customers.
Term
customer relationship management (CRM)
Definition
systems that help companies keep in close touch with customers, collect and manage customer data, and collaborate with customers to provide the most valuable products and services.
Term
outsourcing
Definition
contracting out selected functions or activities of an organization to other organizations that can do the work more cost efficiently
Term
market entry strategy
Definition
an organizational strategy for entering a foreign market
Term
exporting
Definition
an entry strategy in which the organization maintains its production facility within its home country and transfers its products for sale in foreign countries.
Term
countertrade
Definition
the barter of products for other products rather than their sale for currency
Term
global outsourcing
Definition
engaging in the international division of labor so as to obtain the cheapest sources of labor and supplies regardless of country also called offshoring
Term
licensing
Definition
an entry strategy in which an organization in one country makes certain resources available to companies in another to participate in the production and sale of its products abroad.
Term
franchising
Definition
a form of licensing in which an organization provides its foreign franchisees with a complete package of materials and services
Term
direct investing
Definition
an entry strategy in which the organization is involved in managing its production facilities in a foreign country.
Term
joint venture
Definition
a variation of direct investment in which an organization shares costs and risks with another firm to build a manufacturing facility, develop new products, or set up sales and distribution network.
Term
wholly owned foreign affiliate
Definition
a foreign subsidary over which an organization  has complete control
Term
greenfield venture
Definition
the most risky type of direct investment , whereby, a company builds a subsidary from scratch in a foreign country.
Term
international management
Definition
the management of business operations conducted in more than one country
Term
infrastructure
Definition
a country's physical facilities that support economic activities
Term
political risk
Definition
a company's risk of loss of assets, earning power, or managerial control due to politically based events or actions by host governments
Term
political instability
Definition
events such as riots, revolutions, or government upheavals that affect the operations of an international company
Term
power distance
Definition
the degree to whcih poeple accept inequality in power among institutions, organizations, and people
Term
uncertainty avoidance
Definition
a value characterized by people's intolerance for uncertainty and ambiguity and resulting support for beliefs that promise a certainty adn conformity
Term
individualism
Definition
a preference for a loosely knit social framework in which individuals are expected to take care of themselves
Term
collectivism
Definition
a preference for a tightly knit social framework in which individuals look after one another and organizations protect their member's interests
Term
masculinity
Definition
a cultural preference for achievement, heroism, assertiveness, work centrality, and material success
Term
femininity
Definition
a cultural preferences for relationships, cooperation, group decision making, and quality of life
Term
long-term orientation
Definition
a greater concern for the future and high value on thrift and perseverance
Term
short term orientation
Definition
a concern with the past and present and a high value on meeting social obligations
Term
high-context culture
Definition
a culture in which communication is used to enhance personal relationships
Term
low-context culture
Definition
a culture in which communication is used to exchange facts and information
Term
ethnocentrism
Definition
a cultural attitude marked by the tendency to regard one's own culture as superior to others
Term
euro
Definition
a single european currency that replaced the currencies of 15 european nations
Term
multinational corporation (MNC)
Definition
an organization that receives more than 25 percent of its total sales revenues from operations outside the parent company's home country; also called global corporation or transnational corporation
Term
cultural intelligence
Definition
a person's ability to use reasoning and observation skills to interpret unfamiliar gestures and situations and devide appropriate behavioral responses
Term
culture shock
Definition
feelings of confusion, disorientation, and anxiety that result from being immersed in a foreign country
Term
goal
Definition
a desired future state that the organization attempts to realize
Term
plan
Definition
a blueprint specifying the resource allocations, schedules, and other actions neccesary for attaining goals
Term
planning
Definition
the act of determining the organization's goals and the means for achieving them
Term
mission
Definition
the organization's reason for existence
Term
mission statement
Definition
a broadly stated definition of the organization's basic business scope and operations that distinguishes it from similar types of organizations
Term
strategic goals
Definition
broad statements of where the organization wants to be in the future; pertain to the organization as a whole rather than to specific divisions or departments
Term
strategic plans
Definition
the action steps by which an organization intends to attain strategic goals
Term
tactical goals
Definition
goals that define the outcomes that major divisions and departments must acheive for the organization to reach its overall goals
Term
tactical plans
Definition
plans designed to help execute major strategic plans and to accomplish a specific part of the company's strategy
Term
operational goals
Definition
specific, measurable results expected from departments, work groups, and individuals within the organization.
Term
operational plans
Definition
plans developed at the organization's lower levels that specify action steps toward achieving operational goals and that support tactical planning activities
Term
strategy map
Definition
a visual representation of the key drivers of an organization's success, showing the cause and effect relationships among goals and plans
Term
management by objectives (MBO)
Definition
a method of management whereby managers and employees define goals for every department, project, and personal and use them to monitor subsequent performance
Term
single use plans
Definition
plans that are developed to achieve a set of goals that are unlikely to be repeated in the future
Term
standing plans
Definition
ongoing plans that are used to provide guidance for tasks performed repeatedly within the organization
Term
contingency plans
Definition
plans that define company responses to specific situations, such as emergencies, setbacks, or unexpected conditions
Term
scenario building
Definition
looking at trends and discontinuities and imagining possible alternative futures to build a framework within which unexpected future events can be managed
Term
central planning department
Definition
a group of planning specialists who develop plans for the organization as a whole and its major divisions and departments and typically report directly to the president or CEO
Term
decentralized planning
Definition
managers work with planning experts to develop their own goals and plans
Term
stretch goal
Definition
a reasonable yet highly ambitious, compelling goal that energizes people and inspires intelligence
Term
intelligence team
Definition
a cross-functional group of managers and employees who work together to gain a deep understanding of a specific competitive issue and offer insight and recommendations for planning
Term
strategic management
Definition
the set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals
Term
strategy
Definition
the plan of action that prescribes resource allocation and other activities for sealing with the environment so as to achieve organizational goals
Term
competitive advantage
Definition
what sets the organization apart from others and provides it with a distinctive edge in the marketplace
Term
core competence
Definition
a business activity that an organization does particularly well in comparison to others
Term
synergy
Definition
the condition that exists when the organization's parts interact to produce a joint effect that is greater than the sum of its parts acting alone
Term
corporate level strategy
Definition
the level of strategy concerned with the question what business are we in pertains to the organization as a whole and the combination of business units and product lines that make it up
Term
functional level strategy
Definition
the level of strategy concerned with the question how do we support the business level strategy pertains to all of the organizations major departments
Term
strategy formulation
Definition
the stage of strategic management that involves the planning and decision making that lead to the establishment of the organization's goals and of a specific strategic plan
Term
strategy execution
Definition
the stage of strategic management that involves the use of managerial and organizational tools to direct resources toward achieving strategic outcomes
Term
SWOT analysis
Definition
analysis of the strengths, weaknesses, opportunities, and threats (SWOT) that affect organizational performance
Term
strategic business units (SBU)
Definition
a division of the organization that has a unique business mission, product line, competitors, and markets relative to other SBU's in the same corporation
Term
portfolio strategy
Definition
the organization's mix of strategic business units and product lines that fit together in such a way as to provide the corporation with synergy and competitive advantage
Term
BCG matrix
Definition
a concept developed by the boston consulting group that evaluates strategic business units with respect to the dimensions of business growth rate and market shares (cash cows, stars, dogs, question marks)
Term
diversification
Definition
a strategy of moving into new lines of business
Term
related diversification
Definition
moving into a new business that is related to the company's existing business activities
Term
unrelated diversification
Definition
expanding into a totally new line of business
Term
vertical integration
Definition
expanding into businesses that either produce the supplies needed to make products or that distribute and sell those products
Term
differentiation
Definition
a type of competitive strategy with which the organization seeks to disinguish its products or services from that of competitors
Term
cost leadership
Definition
a type of competitive strategy with which the organization aggressively seeks efficient facilities, cuts costs, and employs tight cost controls to be more efficient than competitors
Term
focus
Definition
a type of competitve strategy that emphasizes concentration on a specific regional market or buyer group.
Term
dynamic capabilities
Definition
leveraging and developing more from the firm's existing assets, capabilities, and core competencies in a way that will provide a sustained competitive advantage
Term
globalization
Definition
the standardization of product design and advertising strategies throughout the world
Term
multidomestic strategy
Definition
the modification of product design and advertising strategies to suit the specific needs of individual countries
Term
transnational strategy
Definition
a strategy that combines global coordination to attain efficiency with flexibility to meet specific needs in various countries
Term
decision
Definition
a choice made from available alternatives
Term
decision making
Definition
the process of identifying problems and opportunities and then resolving them
Term
programmed decision
Definition
a decision made in response to a situation that has occurred often enough to enable decision rules to be developed and applied in the future
Term
nonprogrammed decision
Definition
a decision made in response to a situation that is unique, is poorly defined and largely unstructured, and has important consequences for the organization
Term
certainty
Definition
the situation in which all the information the decision maker needs is fully available
Term
risk
Definition
a situation in which a decision has clear cut goals and good information is availavle but the future outcomes associated with each alternative are subject to chance
Term
uncertainty
Definition
the situation that occurs when managers know which goals they wish to achieve, but information about alternatives and future events is incomplete
Term
ambiguity
Definition
a condition in whicih the goals to be achieved or the problem to be solved is unclear, alternatives are difficult to define, and information about outcomes is unavailable.
Term
classical model
Definition
a decison making model based on th assumption that managers should make logical decisions that will be in the organization's best economic interests
Term
normative
Definition
an approach that defines how a decision maker should make decisions and provides guidelines for reaching an ideal outcome for the organization
Term
administrative model
Definition
a decision making model that describes how managers actually make decisions in situations characterized by nonprogrammed decisions, uncertainty, ambiguity
Term
descriptive
Definition
An approach that describes how managers actually make decisions rather than how they should make decisions according to a theoretical idea
Term
bounded rationality
Definition
the concept that people have the time and cognitive ability to process only a limited amount of information on which to base decisions
Term
satisficing
Definition
to choose the first solution alternative that satisfies minimal decision criteria, regardless of whether better solutions are presumed to exist
Term
intuition
Definition
the immediate comprehension of a decision situation based on past experience but without conscious thought
Term
coalition
Definition
an informal alliance among managers who support a specific goal
Term
problem
Definition
a situation in which organizational accomplishments have failed to meet established goals
Term
opportunity
Definition
a situation in which managers see potential organizational accomplishments that exceed current goals
Term
diagnosis
Definition
the step in the decison making process in which managers analyze underlying causal factors associated with the decision situation
Term
risk propensity
Definition
the willingness to undertake risk with the opportunity of gaining an increased payoff
Term
implementation
Definition
the step in the decision making process that involves using managerial, administrative, and persuasive abilities to translate the chosen alternative into action
Term
decision styles
Definition
differences among people with respect to how they perceive problems and make decisions
Term
brainstorming
Definition
a technique that uses a face to face group to spontaneously suggest a broad range of alternatives for decision making
Term
electronic brainstorming
Definition
bringing people together in an interactive group over a computer network to suggest alternatives; sometimes called brainwriting
Term
devil's advocate
Definition
a decision making technique in which an individual is assigned the role of challenging the assumptions and assertions made by the group to prevent premature consensus
Term
point-counterpoint
Definition
a decision making technique in which people are assigned to express competing points of view
Term
groupthink
Definition
the tendency of people in groups to supress contrary opinions
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