Term 1

State Uncertainty

Definition 1

environment is unpredictable

Term 2

Planning

Definition 2

Is the process of coping with uncertainty by formulating future courses of actions to achieve specified results.

Term 3

Effect uncertainty

Definition 3

– A manager’s attempts to predict the effects of a specific environmental changes or events on his or her organization
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Term 4

Response Uncertainty

Definition 4

– Is the inability to predict the consequences of a particular decision or organizational response.

Term 5

Strategic planning

Definition 5

– Is the process of determining how to pursue the organization’s long term goals with the sources expected to be available.

Term 6

Intermediate planning -

Definition 6

Is the process of determining the contributions that subunits can make with allocated resources.
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Term 7

Operational planning

Definition 7

– is the process of determining how specific tasks can best be accomplished on time with available resources.

Term 8

MBO (Management By Objectives)

Definition 8

– is a comprehensive management system based on measurable and particpatively set objectives.

Term 9

Flow chart –

Definition 9

Are charts that force people to consider all relevant links in a particular endeavor, as well as their proper sequence. They do not indicate a time dimension and are not practical for complex endeavors in which several activities take place at once.
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Term 10

Gantt chart

Definition 10

– Is a graphical scheduling technique historically used in production operations. It is easy specify the amount of time spent on a particular project, but it is a cumbersome method to chart complex projects.

Term 11

PERT (Program Evaluation and Review Technique) –

Definition 11

is a graphical sequencing and scheduling tool for large, complex, and non-routine projects. Developed by the U.S. Navy in 1958.

Term 12

Break-even analysis

Definition 12

– Is a study that measures the point where the level of sales at which the firm neither suffers nor realizes a profit.
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Term 13

Fixed costs –

Definition 13

Are contractual costs that must be paid regardless of the level of output or sales. Typical examples include rent, utilities, insurance premiums, staff salaries, and so on.

Term 14

Variable cost

Definition 14

– Are costs that vary directly with production and sales. Some costs remain the same, but as production increases, these costs accumulate. Some costs are a function of time and _____ costs are a function of volume.

Term 15

Contribution margin –

Definition 15

is the selling price per unit minus the variable costs per unit. Above the break-even point, _______ contributes to profits.
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Term 16

Strategic management –

Definition 16

Is the ongoing process of ensuring a competitively superior fit between an organization and its changing environment. In a manner of speaking, ______ is management on a grand scale, management of the “ big picture.”

Term 17

Strategy

Definition 17

- Has been defined as an integrated and externally oriented perception of how the organization will achieve its mission.

Term 18

Synergy

Definition 18

– the concept that the whole is greater than the sum of its parts. That is, That is the “1+1=3” effect.
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Term 19

Differentiation

Definition 19

– Is the ability to provide unique and superior value to the buyer in terms of product quality, special features, or after-sale services.

Term 20

Grand strategy

Definition 20

– Is how the organization’s mission will be accomplished. They are derived from careful situational analysis of the organization and its environment.

Term 21

Situational strategy –

Definition 21

Is a technique for matching organizational strengths and weaknesses using a SWOT analysis. (SWOT, Strength, Weaknesses, Opportunities, Trends).
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Term 22

Trend analysis –

Definition 22

Is a hypothetical extension of a past pattern into the future. This is the based that past events will continue into the present future.

Term 23

Condition of certainty –

Definition 23

Exists when there is no doubt about the factual basis of a particular decision, and its outcome can be predicted accurately.

Term 24

Condition of risk

Definition 24

– Is said to exists when a decision must be made on the basis of incomplete but reliable factual information.
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Term 25

Framing effect –

Definition 25

is the tendency to evaluate positively presented information favorably and negatively presented information unfavorably.

Term 26

Escalation of commitment

Definition 26

– is when people get locked into losing courses of action to avoid the embarrassment of quitting or admitting error.

Term 27

Programmed decisions

Definition 27

– Are decisions that are repetitive and routine. Examples include hiring decisions in a hospital, supply reorder decisions, and so on.
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Term 28

Nonprogrammed decisions –

Definition 28

Are decisions made in complex, important, and nonroutine situations, often under new and largely unfamiliar circumstances. Examples include with whether to merge with an existing company and so on.

Term 29

Satisfice –

Definition 29

This is the decision to settle for a solution that is good enough.

Term 30

Organization

Definition 30

– Is the cooperative and coordinated social system of two or more people with a common purpose.
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Term 31

Bureaucracy

Definition 31

– It was Max Weber and was intended as a good program and ended up being a bad program because of its lack of flexibility. As it becomes larger it becomes less flexible.

Term 32

Acceptance theory

Definition 32

– Is the idea that for someone to be a leader they have to be accepted as a leader by their subordinates. This replaces the olds ways of placing people above folks with having the organization’s leader being elected by its peers.

Term 33

Organizational effectiveness

Definition 33

– can be defined as being effective, effeicient, and satisfying today, while adapting and developing in the intermediate future; and surviving in the long term.
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Term 34

Organizational culture

Definition 34

– is the collection of shared (stated or implied) beliefs, values, rituals, stories, myths, and specialized language that foster a feeling of community among organization members.

Term 35

Organizational socialization –

Definition 35

is the process through which outsiders are transformed into accepted insiders. It helps newcomers to integrate into the organizational culture.