Term
| An organisation is a ___ ___ which pursues ___ ___, which controls its ___ ___ and which has a ___ separating it from its ___. |
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Definition
Social Arrangement
Collective Goals
Own Performance
Boundary
Environment |
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Term
| What are the 4 terms from System Theory? |
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Definition
Organisation
Input
Output
Boundary from Environment |
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Term
| What are the 4 Organisation Structures? |
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Definition
Entrepreneurial - boss & workers
Functional - functional departments
Divisional - product or geographic split
Matrix - project teams with 2 bosses, project leader and functional head |
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Term
| Who coined the 5 parts of an Organisation's Structure and what are they? |
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Definition
Mintzberg.
Strategic Apex - top mgt and board
Middle Line - middle managers
Operating Core - day to day workers
Support Staff - IT, accounts
Technostructure - setting standards and procedure (manuals and handbooks) |
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Term
| What are the 3 levels of an Organisation? |
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Definition
Strategic - top mgt and board (5 yr plan)
Tactical - dept mgr (1 yr plan/budget)
Operational - day to day activities (1-2 weeks, dealing with transactions) |
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Term
| What are Formal and Informal Organisations? |
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Definition
Formal Orgs are the tip of the iceberg, designed, known by mgt (org charts, mission, appraisals)
Informal Organisations are hidden and dangerous (group norms, mutual cover ups, ambitions, rumours and gossip) |
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Term
| What are the characteristics of good information? |
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Definition
| A ccurate C omplete C ost-beneficial U ser-targeted R elevant A uthoritative T imely E asy-to-use |
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Term
| What are the PESTEL Environmental Influences? |
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Definition
| P olitical E conomic S ocial T echnological E cological L egal |
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Term
| What is Porter's 5 Forces Model and what does it do? |
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Definition
It analyses industry attractiveness.
1) Competition
2) Buyer Pressure
3) Supplier Pressure
4) Potential Entrants
5) Substitute Products |
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Term
| What is the Cultural Web and who coined the term? |
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Definition
| Its the way we do things around here coined by Charles Handy |
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Term
| What are the 4 Types of Culture and who coined them? |
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Definition
Charles Handy.
1) Power (Zeus) - power only with boss
2) Role (Apollo) - importance on titles, specifications
3) Task (Athens) - getting the job done
4) Person (Dionysus) - private ambitions |
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Term
| What are the 3 levels of culture and who coined them? |
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Definition
Schein
1) Artifacts - visual, clothes, structure
2) Espoused Values - goals, mission
3) Underlying assumptions - the best |
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Term
| Who coined National Cultures and how do they differ? |
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Definition
| Hofstede's model explains how National Culture influences how people work. 1) Power distance - told or participate 2) Uncertainty avoidance - risk or try 3) Individualism-collectivism - conform or go your own way 4) Masculinity - dominant or understanding and modest |
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Term
| What are the types of Stakeholders and who are they? |
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Definition
Internal - inside org; employees, mgrs
Connected - by contract; supp, cust, bank
External - neighbours |
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Term
| How do you analyse Stakeholders? |
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Definition
Mendelow's Matrix divide stakeholders by level of interest and power.
High-High - Key Players
High-Low - Keep Informed
Low-High - Keep Satisfied
Low-Low - Minimal Effort |
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Term
| What is Corporate Governance? |
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Definition
| It is how companies are directed and controlled and the separation of ownership and control - stewardship. |
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Term
| What are the 5 main principles of Corporate Governance? |
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Definition
1) Leadership - board, CEO, Chairman, NED
2) Effectiveness - time, skills, Nomination Committee
3) Accountability - Audit Committee
4) Remuneration - Remuneration Committee
5) Relations with Stakeholders - AGM |
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Term
| What is Corporate Social Responsibility? |
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Definition
| It takes into account the interests of Stakeholders other than Shareholders. |
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Term
| Who coined the Four Ethical Stances and what are they? |
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Definition
Johnson and Scholes.
ST shareholder interest - maximise profits
LT shareholder interest - unethical behaviour will be punished
Multiple shareholder obligations - interest of other stakeholders
Shaper of society - right to change society |
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Term
| What are the 4 bases of Ethical Principles? |
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Definition
1) Consequentialism - consequences of actions or others
2) Duty - to follow morals and values
3) Relativism - many acceptable ethical standpoints
4) Absolutism - based on absolute moral values |
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Term
| What are the 5 Fundamental Principles of the ACCA Code of Ethics and Conduct? |
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Definition
1) Integrity
2) Objectivity
3) Professional Competence
4) Confidentiality
5) Professional Behaviour |
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Term
| What is the difference between internal and external audits? |
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Definition
| Internal audits are reports to management about procedures. External audits are reports to board members regarding true and fair representation. |
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Term
| What is GAAP and what does it stand for? |
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Definition
| GAAP is a set of rules governing accounting and stands for Generally Accepted Accounting Principles |
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Term
| What are the 2 parts of the framework for internal controls? |
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Definition
1) Control environment which is the culture withing the organisation
2) Control processes such as on credit references, double payments, overtime |
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Term
| What are the 3 main factors to detect and prevent fraud? |
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Definition
1) Control Systems (internal audit)
2) Ethics
3) Training |
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Term
| What is SPAMSOAP and what does it stand for? |
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Definition
SPAMSOAP is 8 types of control levels.
1) S egregation of duties
2) P hysical Control
3) A uthorisation and Approval
4) M anagement Controls
5) S upervisory Controls
6) O rganisation as a Control
7) A rithmetical and Accounting Conrols
8) P ersonal Control |
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Term
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Definition
| Management is getting things done through other people - Rosemary Stweart |
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Term
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Definition
| Trait theory is spotting good managers by their traits, such as intelligence, initiative, self-assurance |
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Term
| Who founded Classical Management and what are the 5 functions? |
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Definition
Henri Fayol
1) Planning
2) Organizing
3) Commanding
4) Coordinating
5) Controlling
but too simplistic and subjective |
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Term
| Who founded Scientific Management and what are the 4 Principles? |
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Definition
Frederick Taylor
1) Science of Work
2) Job Design
3) Financial Reward
4) Cooperation
Increases productivity and wages but dehumanizes work |
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Term
| Who founded the Human Relations School and what was the study based on? |
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Definition
Elton Mayo at the Hawthorne Plant at Western Electronics
1) Varied light conditions did not affect productivity but asking opinions did as people felt special
2) Increased wages did not affect productivity as people liked groups and formed group norms |
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Term
| Who are the 4 main contributors to Style Theories? |
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Definition
1) Peter Drucker
2) Minzberg
3) Ashbridge Management College
4) Blake and Mouton |
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Term
| According to Drucker what are the 3 Functions of Management? |
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Definition
1) Managing a business
2) Managing managers
3) Managing workers and work |
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Term
| According to Drucker what are 5 Categories of Management work? |
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Definition
1) Setting objectives
2) Organizing the group
3) Motivating and communicating
4) Measuring performance
5) Developing people |
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Term
| According to Mitzberg what the 3 Managerial Functions? |
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Definition
1) Interpersonal Roles - leader
2) Information Processing Roles - disseminator
3) Decisional Roles - negotiator, disturbance handler |
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Term
| Describe the difference between Power, Authority, Responsibility and Delegation? |
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Definition
Power - ability to influence
Authority - the right to exercise power
Responsibility - accountability
Delegation - transfer of authority |
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Term
| Describe the difference between Power, Authority, Responsibility and Delegation? |
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Definition
Power - ability to influence
Authority - the right to exercise power
Responsibility - accountability
Delegation - transfer of authority |
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Term
| Describe the difference between Power, Authority, Responsibility and Delegation? |
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Definition
Power - ability to influence
Authority - the right to exercise power
Responsibility - accountability
Delegation - transfer of authority |
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Term
| Describe the difference between Power, Authority, Responsibility and Delegation? |
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Definition
Power - ability to influence
Authority - the right to exercise power
Responsibility - accountability
Delegation - transfer of authority |
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Term
| What are the 4 types of Leadership Style according to the Ashbridge Management College model? |
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Definition
1) Tells
2) Sells
3) Consults
4) Joins |
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Term
| Who coined the Managerial Grid and what is it? |
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Definition
Blake and Mouton
It analyses a manager's approach by concern for tasks and concern for people
1,1 Impoverished - bad at both
1,9 Country Club - having a nice time
5,5 Middle of the Road - good at both
9,1 Authoritarian - no personal relationships
9,9 Team - good leader |
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Term
| Who are the 5 main contributors to Contingency Theories? |
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Definition
1) Adair
2) Handy
3) Bennis
4) Heifetz
5) Fiedler |
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Term
| Who coined Action-Centred Leadership and what does it entail? |
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Definition
Adair
It adds a 3rd variable to Blake and Mouton's Managerial Grid by including Concern for Group as well as tasks and individuals. He says you will concentrate more on one area depending on the situation. |
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Term
| Who coined the Best Fit Theory and what is it? |
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Definition
Handy
You can be either Loose or Tight on the below 4 variables:
1) Leader - participative/autocratic
2) Subordinates - contribute/told
3) Task - complex/routine
4) Environment - generous/short
Will work well it all match |
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Term
| What are the differences between Managers and Leaders as per Bennis? |
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Definition
1) Administers/Innovates
2) Maintains/Develops
3) Focus on Systems/People
4) ST view/LT view
5) Keeps control/inspires trust
6) Asks how and when/what and why
7) Eye on bottom line/horizon |
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