Shared Flashcard Set

Details

MGMT Test 2
Ch 6-8
24
Management
Undergraduate 1
10/26/2015

Additional Management Flashcards

 


 

Cards

Term
Consequences of a Global Economy
Definition
Opportunities are greater, more money, more complex environment, companies view the world as a single marketplace
Term
Profit Possibilites for a Global Economy
Definition
Locate best skills and technologies, optimize production costs and labor costs, increaseing volume
Term
The Global Economy
Definition
More trading/imports and exports, more international investing, more competition, more opportunities, more risks
Term
Offshoring
Definition
Outsourcing.  Occurs when an organization contracts with an outside provider to produce one or more of an organizations products or services.
Term
Multinational Model
Definition
Organizational model that consists of the subsidaries in each country adapting to the local cultures, with ultimate control exercised by the parent company (tea in england, pizza in italy)
Term
Global Model
Definition
Organizational model consisting of a company's overseas subsidaries and characterized by centralized decision making and tight control by the parent company over most aspects of worldwide operations.
Term
Expatriates
Definition
Parent company nationals who are sent to work at a foreign subsidary
Term
Host-country nationals
Definition
Natives of the country where an overseas subsidary is located
Term
5 Cultural Norms
Definition
Power distance, uncertainty avoidance, maculinity/femininity, individualism/collectivism, lonterm/short-term time orientation
Term
Intrapreneurship
Definition
Starting a sub-business within a corportation
Term
Opportunity Analysis
Definition
A description of the product or service, an assessment of the opportunity and the entrepreneur
Term
Business Plan
Definition
A formal planning step that focuses on the entire venture and describes all the elements involved in starting it
Term
Nonfinancial Resources
Definition
Networks, top management teams, advisory boards, business incubators
Term
Challenges for Entrepreneurs
Definition
Mortality, inadequate delegation, misuse of funds, poor planning and controls
Term
Business Incubators
Definition
Protected environments for new, small business.  They offer benefits such as low rents and shared costs
Term
Board of Directors
Definition
Hires and fires the CEO.  Determines the firms strategic directon and reviewing financial performance, assuring ethical and legal conduct
Term
Span of Control
Definition
The number of subordinates who report directly to an executive or supervisor.  Can be tall(narrow span of control) or flat (wide span of control).
Term
Centralization
Definition
Most decisions are made at the top.
Term
Decentralization
Definition
Decisions are made at lower levels.  The same as delegation.
Term
Delegation
Definition
The assignment of additional responsibilities to a subordinate.
Term
Departmentalization
Definition
The organization must be subdivided, or departmentalized, into smaller units.  Can be split into functional or divisional.
Term
Functional Organization
Definition
Jobs are specialized and grouped according to business function.
Term
Divisional Organization
Definition
Departmentalization will group units around products, customers, or geographic regions.
Term
Matrix Organization
Definition
A hybrid form of organization in which functional and divisional forms overlap
Supporting users have an ad free experience!