Term
|
Definition
| evaulation, and exploitation of opp. |
|
|
Term
|
Definition
| occasaion to bring into existence of new products and services tht allow ouputs to be sold at a price greater than their cost of production |
|
|
Term
|
Definition
| indivdual who indentifies evaluates and exploits opp |
|
|
Term
opp. indentification
entrepreneurial alertness |
|
Definition
| an individuals ablity to notice and be sensitive to new info about objects incidents and patterns of behvior in the envirnment |
|
|
Term
opp. indentification
info asymmetry |
|
Definition
| both new info and old info and no two people share all of this info at the same time |
|
|
Term
opp. indentification
social networks |
|
Definition
| individuals pattern of social relationship |
|
|
Term
opp. indentification
means-end relationships |
|
Definition
| ability of entrepreneurs to understand how to turn a new tech into a product or service that will be valued by consumers |
|
|
Term
|
Definition
| an entrep decides whether he/she has just a ood idea or a viable opp. that will provid the desired outcomes |
|
|
Term
|
Definition
| helps entrep understand whether an idea is prcatical |
|
|
Term
|
Definition
| likelihood and magnitude of the opp downside loss |
|
|
Term
|
Definition
| resources the entrep could lose if the opp does not succeed |
|
|
Term
factors that my influence the accuracy of an entrep. risk preception
law of small numbers |
|
Definition
| individuals rely on a small sample of info to inform their decisions |
|
|
Term
factors that my influence the accuracy of an entrep. risk preception
illusion of control |
|
Definition
| entrep overestimate the extent to which they can control the outcome of an opp. |
|
|
Term
|
Definition
| activities and investments committed to gain returns from the new product or service arising from the opp |
|
|
Term
|
Definition
| wealthy individuals who provide capital to new companies |
|
|
Term
|
Definition
| firms that raise money from investors an then use this money to make investmesnts in new firms |
|
|
Term
|
Definition
| entrep obtains financing from a financial instituation in the form of a loan |
|
|
Term
| corporate entrepreneurship |
|
Definition
| individ or grioups of indiv in an existing corp create a new org or instigate renewal or innovation within that corp |
|
|
Term
|
Definition
| firms develop new cultures processes or structures to support nw product innovtions in current markets as well as existing products into new markets |
|
|
Term
|
Definition
| improving the firms ability to execute strategies and forces on new processes instead of new products |
|
|
Term
|
Definition
| fir attempts to alter its own competitive strategy |
|
|
Term
|
Definition
| a firm proactively seeks to create a new products market position that competitors have not recognized |
|
|
Term
| commericial entrepreneurship |
|
Definition
| indiv or corp that presure entre opp for the purposes of generating sales and profits |
|
|
Term
|
Definition
| recognition evaluation and exploitation of opp that create social value as opposed to personal or shareholder wealth |
|
|
Term
|
Definition
| basic long-standing needs of society and has little to do with profits |
|
|
Term
|
Definition
| process of determining how the org can get where it wants to go and what it will do to accomplish its objectivies |
|
|
Term
| primary purpose of planning |
|
Definition
| to facilitate the accomplishment of entreprise and objectivites |
|
|
Term
|
Definition
| target toward which the open management system is directed |
|
|
Term
|
Definition
| what the org exist to do given a particular group of customers and customer needs |
|
|
Term
management should set objectivies:
market standing |
|
Definition
| where it would like to be in relation to its competitors |
|
|
Term
management should set objectivies:
innovation |
|
Definition
| outlining its commitment to the development of new methods of operations |
|
|
Term
management should set objectivies:
productivity |
|
Definition
| outlining the target levels of production |
|
|
Term
management should set objectivies:
physical and financial resources |
|
Definition
| regarding the use acquistion and maintenance of capital and monetary rsources |
|
|
Term
management should set objectivies:
profitablity |
|
Definition
| that specify the profit the company would like to generate |
|
|
Term
management should set objectivies:
managerial performance and development |
|
Definition
| specify rates and levels of managerial productivity and growth |
|
|
Term
management should set objectivies:
worker performance and attitude |
|
Definition
| specify rates and levels of worker productivity as well as desirable attitudes for workers to poses |
|
|
Term
management should set objectivies:
public responsibility |
|
Definition
| indicate the companys respinsibilities to its customers and society and be extent to which the company intends to live up to those reponsibilites |
|
|
Term
|
Definition
| targets to be achieved in 1 year or less |
|
|
Term
|
Definition
| targets to be achieved in 1 to 5 years |
|
|
Term
|
Definition
| targets t be acieved in 5 to 7 years |
|
|
Term
|
Definition
| condition wherein subjectivites are conflicting or not directly imed at accomplishing the overall org objective |
|
|
Term
|
Definition
| putting formulated strategies into action |
|
|
Term
|
Definition
| ability to manage people during implementation |
|
|
Term
|
Definition
| ablility t provide the org. resouces necessary to implementa strategy |
|
|
Term
|
Definition
| ablility to use info to determine whether a problem hasa arisen that is blocking implementation |
|
|
Term
|
Definition
| ablility to create throughout the org. a network of people who can help sove implementaion problems as they occur |
|
|
Term
|
Definition
| monitoring and evaluating the strategic managemet process as a whole to ensure that it is operating perperly |
|
|
Term
|
Definition
| short range planning that emphasizes the current operations of various parts of the org. |
|
|
Term
|
Definition
| process by which firms undertake strategic and tactical actions and how competitors respond to these actions |
|
|
Term
|
Definition
| how mindful a company is of its competitors actions |
|
|
Term
|
Definition
| circulating questionnaires on a specific problem among group members, sharing the questionnaire results with them and then continuing to recirculate and refine indivdual responses until a consensus rgarding the problem is reached |
|
|
Term
|
Definition
| useful process for helping groups make decisions and ensure that each group member has equal participation in making the group decision |
|
|
Term
|
Definition
| group decision making process in which negative feedback on any suggested altern. by any group member is forbidden until all members have presented alten. that thy perceve as valuable |
|
|
Term
|
Definition
| graphic decision making tool typically used to evaluate decisions involving a series of steps |
|
|
Term
|
Definition
| =income times probability |
|
|
Term
|
Definition
| decision making tool used in risk sistuations |
|
|
Term
|
Definition
| situations where the probabilitythat a particular outcome will occur is not known in advance |
|
|
Term
|
Definition
| situatioins in which statisical probabilities can be attributed to alternative potential outcomes |
|
|
Term
|
Definition
| departures from rational theory tha produce suboptimal decisions |
|
|
Term
|
Definition
| rules of thumb to make decisions |
|
|
Term
|
Definition
| an individuals inborn ability to synthsize info quickly and effectively |
|
|
Term
|
Definition
| individual makes a decision that is not optimal but is good enough |
|
|
Term
|
Definition
| managers are bounded in terms of time, computational power, and knowledge when making decisions |
|
|
Term
|
Definition
| having too many altern. that may demotivate decision makers |
|
|
Term
| rational decision making process |
|
Definition
| steps the decision maker takes to arrive at this choice |
|
|
Term
| element of decision situation |
|
Definition
decison makers
goals to be served
relevent altern
ordering of altern
choice of altern |
|
|
Term
|
Definition
| considered feasible for solving an existing problem and for implementation |
|
|
Term
|
Definition
| look on themselves as commodities that are only as valuable as the decisions they make |
|
|
Term
|
Definition
| the desire to perserve the status quo as mch as possible |
|
|
Term
|
Definition
| believe that the source of all good is outside themselves and they are willing to steal ideas as nesessary to make good decisions |
|
|
Term
|
Definition
| believe that the source of all goo is outside hemselves and therefore they rely heavily on suggestions rom other org. members |
|
|
Term
|
Definition
| agreement on a decision by all the individuals involved in making that decision |
|
|
Term
|
Definition
lover level
middle level
upper level |
|
|
Term
|
Definition
| proportion of the total managment system that the decisio will affect |
|
|
Term
|
Definition
| typically a one shot decision that is usually less structured than programmed decisions |
|
|
Term
|
Definition
| routine and repetitive and the org typically develops specific ways to handle such decisions |
|
|
Term
|
Definition
| process of choosing the best alternative for raching objectives |
|
|
Term
|
Definition
| choice mae b/w 2 or more available altern. |
|
|
Term
|
Definition
| the individual inside or outside the organization who tries to modify the existing organizational situation |
|
|
Term
|
Definition
| attitudes, leadership skills, communication skills, and all other characteristics of the human resources within the organization |
|
|
Term
|
Definition
| organizational controls, such as policies and procedures |
|
|
Term
|
Definition
| any types of equipment or processes that assist organization members in the performance of jobs |
|
|
Term
|
Definition
| modifying the level of technology in the management system |
|
|
Term
|
Definition
| change aimed at increasing organizational effectiveness through modifications to the existing structure |
|
|
Term
|
Definition
| increasing organizational effectiveness by changing certain aspects of organization members such as employee’s attitudes and leadership skills |
|
|
Term
| Organizational Development (OD) |
|
Definition
| The process of people change |
|
|
Term
| Grid Organizational Development (Grid OD) |
|
Definition
| a commonly used organization development technique based on a theoretical model called the managerial grid |
|
|
Term
|
Definition
| a theoretical model based on the premise that concern for people and concern for production are the two primary attitudes that influence management style |
|
|
Term
|
Definition
| the bodily strain that an individual experiences as a result of coping with some environmental factor |
|
|
Term
|
Definition
| An environmental demand that causes people to feel stress |
|
|
Term
|
Definition
| individuals being isolated or excluded socially and having work efforts devalued |
|
|
Term
|
Definition
| A struggle that results from opposing needs or between two or more people |
|
|
Term
|
Definition
| the parties to the conflict settle on a solution that gives both of them part of what they wanted |
|
|
Term
|
Definition
| a conflict management technique whereby managers simply ignore the conflict |
|
|
Term
|
Definition
| A technique where managers use authority to declare that conflict has ended |
|
|
Term
|
Definition
| A technique for managing conflict by working out the differences between managers and employees |
|
|
Term
|
Definition
| an organization that goes significantly beyond the boundaries and structures of a traditional organization by comprehensively “tying together” a company’s stakeholders-employees, suppliers, and customers-via an elaborate system of e-mail and other internet- related vehicles such as videoconferencing |
|
|
Term
|
Definition
| Groups of employees formed by managers that are different from traditional teams by having members go in far-away locations and meet using internet technology to discuss problems |
|
|
Term
|
Definition
| A training process that is different from traditional training such as learning how to use internet technology |
|
|
Term
|
Definition
| A work arrangement different from the traditional environment |
|
|
Term
| Organizational effectiveness is because of |
|
Definition
People factors
Structure factors
Technology factors |
|
|
Term
| Human resource management skill |
|
Definition
| the ability to take actions that increase the contributions of individuals within the organization |
|
|
Term
| Appropriate human resources |
|
Definition
| refers to the individuals within the organization who make a valuable contribution to management system goal attainment. This contribution results from their productivity in the positions they hold |
|
|
Term
| Steps in Providing Human Resources |
|
Definition
Recruitment
Selection
Training
Performance appraisal |
|
|
Term
|
Definition
| is the initial attraction and screening of the supply of perspective human resources available to fill a position. The purpose is to narrow a large group of prospective employees to a small one |
|
|
Term
|
Definition
| determining a job description and activities a job entails |
|
|
Term
|
Definition
| the characteristics of the individual who should be hired for the job. |
|
|
Term
| Knowing Sources of Human resources |
|
Definition
| Knowing where to recruit and what strategies to use to attract job applicants in a competitive marketplace |
|
|
Term
|
Definition
| consists of information about the characteristics of organization members |
|
|
Term
| Wikstrom 3 types of records for a human resource inventory |
|
Definition
Management inventory card
Position replacement card
Management manpower replacement card |
|
|
Term
| Management inventory card |
|
Definition
| strengths, weakness, how long working for company |
|
|
Term
| Position replacement card |
|
Definition
| what would happen to someone’s present position if they were selected to be moved within the organization or if he decided to leave. |
|
|
Term
| Management manpower replacement card |
|
Definition
| performance rating and promotional potential when a company is trying to fill a particular position |
|
|
Term
|
Definition
| is the process of outlining who will follow whom in various organizational positions |
|
|
Term
| Sources Outside the Organization |
|
Definition
Competitors
Employment agencies
Readers of certain publications
Educational institutions |
|
|
Term
| Equal Employment Opportunity Commission (EEOC) |
|
Definition
| to enforce federal laws prohibiting discrimination on the basis od race, color, religion, sex, and national origin in recruitment hiring, firing, layoffs, and all other employment practices |
|
|
Term
| Affirmative Action Program |
|
Definition
| purpose is to eliminate barriers and increase opportunities for the purpose of increasing the utilization of underutilized and/ or disadvantaged individuals |
|
|
Term
|
Definition
| choosing an individual to hire from all those who have been recruited |
|
|
Term
|
Definition
| examining human resources for qualities relevant to performing available jobs |
|
|
Term
|
Definition
Aptitude tests-potential to preform a task,
Achievement tests-level of skill or knowledge
Vocational interest tests-measure an individuals interest in various jobs
Personality tests |
|
|
Term
|
Definition
| is a program (not a place) in which participants engage in a number of individual and group exercises constructed to simulate important activities at he organizational levels to which they aspire |
|
|
Term
|
Definition
| process of developing qualities in human resources that will enable them to be more productive and thus contribute more to organizational goal attainment |
|
|
Term
|
Definition
| are the information or skill areas of an individual or group that require further development to increase the productivity of that individual or group |
|
|
Term
|
Definition
| process of reviewing individuals past productive activity to evaluate the contribution they have made toward attaining management system objectives. |
|
|
Term
Performance Appraisal
4 forms |
|
Definition
Rating scale
Employee comparisons
Free-form essay
Critical form essay |
|
|
