Term
| Definition: a person who's influence on others is based on the appointed managerial authority of their position. |
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Definition
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Term
| Definition: person with personal power who can influence others beyond that associated with their formal authority alone |
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Definition
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Term
Ligitimate Power is:
a) what type of power (person or position)
b) what is it? |
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Definition
a) position
b) results from managers formal positions |
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Term
Reward Power:
a) what type
b) what is it |
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Definition
a) position
b) results from managers authority to reward subordinates |
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Term
Coercive Power:
a)type
b)what it is
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Definition
a)position
b) managers authority to punish |
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Term
Expert Power:
a)type
b) what is it |
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Definition
a) person
b) power resulting from one's specialized information or expertise
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Term
Referent Power:
a)type
b) what it is |
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Definition
a) person
b) power deriving from ones personal attraction |
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Term
| What are the ABC's of becoming an effective leader? |
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Definition
Attitude
Behavior
Character |
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Term
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Definition
| placing others before yourself |
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Term
| work ethic is to work for the salary you.... |
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Definition
| want to be paid, not for the salary you are being paid |
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Term
| What are the two keys to Behavioral key to success? |
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Definition
Task- deliver results
people- remember names |
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Term
| Definition: doing the right thig when no one is looking |
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Definition
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Term
| What are the 5 lecture barriers to communication? |
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Definition
intentional filtering
perceptual filtering
selective perception
information overload
language |
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Term
| what are the 3 textbook barriers to communication? |
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Definition
physical
semantic- meaning of words
personal |
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Term
| What are three things that make and effective presentation (encoding) |
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Definition
1) know the audience
2) focus on content
3) conclusions first, then data |
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Term
| List the steps to the communication process. |
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Definition
1) sender: encodes, selects medium
2) message transmitted through medium
3) Receiver: decodes, determines if feedback is necessary
4) feedback |
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Term
| What can non-verbal communitcation do?(4) |
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Definition
confirm
contradict
substitute
provide emphasis |
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Term
What are the 4 management functions?
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Definition
Planning
organizing
leading
controlling |
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Term
| An effective_____system leads to attainment of organizational goals. |
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Definition
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Term
| What are examples of feedforward control and feedback control at the Honda plant? |
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Definition
feed forward: wearing gloves to prevent scratching from rings, ect.
feedback control: sorting through defective parts |
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Term
| What is the feedback control at federal mogul? |
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Definition
| productivity target- every hour you record how many pieces of whatever you make and post on board |
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Term
| This reports profit or loss for a period of time shown. |
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Definition
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Term
| What is another name for income statement? |
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Definition
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Term
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Definition
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Term
| This reports assets, liabilities, and owner's equity at specific point in time |
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Definition
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Term
| what is another name for a balance sheet? |
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Definition
| statement of financial position |
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Term
| How do you calculate assets? |
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Definition
| liabilities + owner's equity |
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Term
| What compares organizations to diff sizes? |
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Definition
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Term
| reviewing both of these and monitoring changes over time can provide understanding of financial health. |
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Definition
| Income statement and balance sheet |
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Term
| These are useful indicators of a firms performance and financial situation |
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Definition
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Term
| These are used to analyze trends and to compare firm's financials to those of other firms |
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Definition
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Term
| What are the 4 types of financial ratios? |
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Definition
liquidity
asset turnover
financial leverage
profitability |
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Term
| what are the three types of liquidity ratios? |
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Definition
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Term
| For this type of liquidity ratio, creditors prefer high ratio and share holders prefer lower ratio. |
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Definition
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Term
| why do short term creditors prefer high current ratios |
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Definition
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Term
| why do shareholders prefer lower current ratios? |
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Definition
| so more of firm's assets are working to grow business |
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Term
| cyclical industries maintain higher/lower current ratios in order to remain solvent during downtime. |
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Definition
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Term
| what is the drawback to current ratios? |
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Definition
| they include inventory and some items are difficult to liquidate quickly |
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Term
| What assets are included in quick ratios? (3) |
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Definition
cash
accounts receivable
notes receivable |
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Term
| What is another name for quick ratios? |
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Definition
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Term
| What is the most conservative type of liquidity ratio? |
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Definition
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Term
| This type of liquidity ratio is an indication of firms abilityto pay off its current liabilities if immediate payment were demanded |
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Definition
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Term
| What are the two most common types of liquidity ratios? |
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Definition
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Term
| This type of financial ratio indicates how efficiently the firm utilizes assets. |
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Definition
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Term
| Effieciency ratios, utilization ratios, and asset management ratios are all names for this type of financial ratio. |
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Definition
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Term
| These are the four types of asset turnover ratios |
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Definition
receivables turnover
invetory turnover
asset turnover
total asset turnover |
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Term
| This type of asset turnover ratio is an indication of how quickly the firm collects its accounts receivables. |
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Definition
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Term
| Receivables turnover ratios are measured in what? |
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Definition
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Term
| When receivables turnover is measured in days this is called. |
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Definition
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Term
| this type of asset turnover ratio is reported as inventory period. |
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Definition
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Term
| This is the # of days worth of inventory on hand |
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Definition
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Term
| This type of financial ratio is an indication of long term solvency of firm. |
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Definition
| Financial leverage ratios |
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Term
| The three types of financial leverage ratios are... |
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Definition
debt ratio
debt to equity ratio
times interest earned ratio |
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Term
This type of financial leverage ratio indicates how well firms earnings can cover interest payments on debt.
a)debt
b)debt to equity
c) times iterest earned |
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Definition
| times interest earned ratio |
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Term
| Interest coverage is another name for what financial leverage ratio? |
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Definition
| times interest earned ratio |
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Term
| this type of financial ratio offers several different measurements of success of the firm at generating profits. |
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Definition
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Term
| What are the 3 types of profitability ratios? |
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Definition
gross profit margin
return on assets
return on equity |
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Term
| This type of profitability ratio is the measure of gross profit earned on sales. |
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Definition
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Term
| True or false: gross profit margin considers firm costs of goods sold as well as other costs. |
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Definition
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Term
This type of profitability ratio is the measure of how effectively the firm's assets are being used to generate profits
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Definition
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Term
| this type of profitability ratio is the bottom line measure for shareholders measuring the profits earned for each dollar invested in the firms stock. |
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Definition
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Term
| What are the 8 keys to your managerial success? |
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Definition
1) find your passion and follow it
2) encourage self-discovery and be realistic
3) every situation is different, so be flexible
4) finetune people skills
5) learn how to develope leadership skills
6) treat people as if they matter because they do
7) draw employees and peers into your management process
8) be flexible, keep your cool, and take yourself lightly |
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Term
| what are the 3 key measures of success? |
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Definition
Safety
Quality
Productivity |
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Term
| What organization is incontrol of the safety key measure of success? |
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Definition
| OSHA - occupational safety & health administration |
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Term
| What does "quality" mean? |
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Definition
| defect free & satisfies customer needs |
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Term
| What is an example of quality management systems? |
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Definition
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Term
| JIT production does what to productivity? |
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Definition
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Term
| What company did we watch manufacture seats? |
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Definition
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Term
| How much did Ford lose for every minute the line was down? |
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Definition
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Term
| What are 3 parts to "lean philosophy"? |
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Definition
employee involvement
continuous improvement
waste elimination |
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Term
| Definition: two or more freely interacting individuals who share collective norms, share collective goals, and have a common identity. |
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Definition
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Term
| Definition: small group of people with complementary skills who are committed to a common purpose, performance goals, and approach for which they hod themselves mutually. |
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Definition
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Term
| formal/informal: group created to do productive work and headed by leader |
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Definition
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Term
| what are the 4 types of teams? |
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Definition
Advice
Production
Project
Action |
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Term
| This type of team is created to broaden info base for managerial decisions. |
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Definition
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Term
| Committees, review panels, advisory councils, employee involvement groups, and continuous improvement teams are examples of this type of team. |
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Definition
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Term
| This type of team is for day-to-day operations. |
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Definition
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Term
| Flight attendant, mining crews, assembly teams, data processing teams, and manufacturing crews are all examples of this type of team. |
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Definition
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Term
| This type of team is to help with creative problem solving. |
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Definition
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Term
| Cross functional teams, task forces, research groups, and planning teams are all examples of this type of team. |
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Definition
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Term
| Definition: team staffed with different specialists to accomplish a common goal |
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Definition
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Term
| This type of team requires people with specialized training and a high degree of coordination. |
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Definition
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Term
| SWAT, cockpit crews, surgeon teams, and mountan climb expeditions are all types of this team. |
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Definition
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Term
| What are the 5 stages of team development? |
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Definition
forming
storming
norming
performing
adjourning |
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Term
| What are the 2 natures of conflict? |
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Definition
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Term
| This nature of conflict hinders organizations performance or threatens interests |
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Definition
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Term
| Definition: role-playing criticism to test whether a proposable is workable |
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Definition
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Term
| Definition: debate to see if proposal is workable |
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Definition
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Term
Managers cope with______
Leaders cope with______
a)change or complexity |
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Definition
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Term
| this type of leadership focuses on clarifying employee's roles and task requirement and providig rewards/punishment |
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Definition
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Term
| This type of leadership transforms emplyees to pursue organizations goals over self interest |
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Definition
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Term
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Definition
rich: non-routine and avoid oversimplifying
lean: routine and avoid overloading |
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Term
| 6 reasons control is needed |
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Definition
1) adapt to change and uncertainty
2)discover irregularities and errors
3) reduce costs, increase productivity or add value
4)detect opportunities
5)deal with complexity
6) decentralize decision making and facilitate teamwork |
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Term
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Definition
1) Establish standards
2) measure performance
3) compare performance to standards
4) take corrective action if needed |
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Term
| Levels of control from top to bottom. |
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Definition
Strategic
Tactical
operational |
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Term
| This type of control is an approach to organizational control and uses rules, regulations, and formal authority |
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Definition
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