Term
| 4 Changing Environments that managers must consider |
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Definition
- Social
- Political/Legal
- Economic
- Technological Dimensions
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Term
| What are the 3 important dimensions of the social environment? |
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Definition
- Demographics
- Inequalities
- Managing Diversity
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Term
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Definition
| statisical profiles of population characteristics |
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Term
| In the U.S. workforce, what 5 trends are prominent? |
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Definition
- It is getting larger
- Becoming increasingly female
- Becoming more racially and ethnically diverse
- It is becoming older
- It has growing age diversity
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Term
| What is America's education and work skills crisis? |
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Definition
| to compete in a global labor market U.S workers must have a world class education and they aren't getting one and they must be ready with the necessary work skills in technology and many don't have them |
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Term
| What are the major myths about older workers? |
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Definition
- They are less productive
- Incur higher benefit costs
- Have higher absenteeism
- Have more accidents at work
- Less willing to learn
- Are inflexible about the hours they work
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Term
| What kinds of workers encounter the most barriers? |
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Definition
- Women
- Minorities
- Part-timers
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Term
| What is the glass ceiling? |
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Definition
| a concept to describe a barrier so subtle that it is transparent yet so strong that it prevents women and minorities from moving up in management |
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Term
| Why are women being held back from managment positions? |
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Definition
- Women are viewed as outsiders
- Exclusions from formal networks
- Lack of experience
- Many are leaving to start their own businesses
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Term
| What is a contingent worker? and what kinds of workers are they? |
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Definition
a contingent worker is one who is not employed with a company full time or even permanently
- Temps
- Part-timers
- Interns
- On call
- Independent Contractors
- Consultants
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Term
| Why are companies using more contingent workers? |
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Definition
- Less costly because they do not receive benefits
- Can be let go when times are bad
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Term
| What is "managing diversity?" |
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Definition
| It is the process of creating an organizational culture that enables all employees, including women and minorities, to realize their full potential |
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Term
| Name some types of diversity |
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Definition
- Race
- Gender
- Disability
- Religion
- Ethnicity/Culture
- Age
- Level of Education
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Term
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Definition
| To go beyond EEO and affirmative action to create flexible organizations that encompass and value diversity |
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Term
| What diversity programs are in use today? |
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Definition
- Mentor programs
- ESL classes
- Immigration assistance
- Training for minorities
- Encouraging attendance and involvement in cultural events
- Enforcing discrimination and harrassment policies
- Recruiting minorities
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Term
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Definition
| The art and science of public influence or control |
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Term
| What are two key pressure points for managers in the political/legal environment? |
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Definition
- Politicization of management
- Incrreased personal legal accountability
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Term
| What is Issues Management? |
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Definition
| Is the ongoing process of identifying, evaluation, and responding to relevant and important social, political, and reputation issues potentially impacting the organization's success |
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Term
| What is Issue Management's purpose? |
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Definition
| Reduce the unexpected effects of change by alerting companies to possible threats and opportunities and to trigger effective responses to issues |
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Term
| In what ways is Issues Management carried out? |
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Definition
- Strategic Planning
- Public Relations
- Community Affairs
- Corportate Communications
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Term
| What is Issues Management main contribution to good management? |
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Definition
| Its emphasis on systemactic preparedness for social and political action |
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Term
| What are the 3 political responses to Issues Management? |
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Definition
- Reactive-defense of the status quo, actively fight government involvement
- Neutral-wait and see approach
- Proactive-initiative to improve performance, avoid political attacks, and government intervention
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Term
| What are the four political strategies for Issues Management? |
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Definition
- Campaign financing- PAC (political action committee) have limited advertising
- Lobbying- garnering political support (M.A.D.D)
- Coalition building- common rallying points (specialty groups)
- Indirect lobbying- advocacy, grass roots lobbying (environment group pushing thier agenda)
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Term
| What is advocacy advertising? |
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Definition
| The controversial practice of promoting a cause or point of view along with a product or service |
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Term
| What was the Sarbanes-Oakley Act? |
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Definition
| It created an increase of penalties for accounting fraud, establishes a new felony with a stiff prison sentence for securities fraud, it also required a system be set up for internal control |
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Term
| What is a ponzi scheme? and who is famous for his role of fraud in this? |
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Definition
| The pyramid scheme, Bernie Maddoff |
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Term
| How can managers prepare and avoid legal costs? |
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Definition
- Performing legal audits
- Using alternative dispute resolution (ADR)
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Term
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Definition
| an approach to look at a companies operations in their entirety to find potential liabilities and legal problems |
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Term
What is ADR (alternative dispute resolution)?
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Definition
| an approach to settling disagreements out of court through techniques such as arbitration and mediation |
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Term
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Definition
| the study of using scarce resources to create wealth and how that wealth is distributed |
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Term
| What are the 3 aspects of the Economic Environment? |
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Definition
- Jobs
- Business Cycle
- Global Economy
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Term
| What are the key ingredients of a high paying job? |
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Definition
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Term
| What is the business cycle? |
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Definition
| It is the up and down movement of an economy's ability to generate wealth, it has a predictable structure but variable timing |
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Term
| When it comes to making good cycle decisions what is most important? |
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Definition
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Term
| What kind of sight must managers have? |
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Definition
| Foresight- forward thinking |
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Term
| How can managers get some value from economic forecasts? |
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Definition
| Through a consensus approach |
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Term
| Why are economic forecasters important? |
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Definition
| They give you a plausible scenarios to help you think about the future in an organized way |
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Term
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Definition
| The world moving from tade among countries to a single economy and a single marketplace |
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Term
| How has globalization become personal? |
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Definition
- Working for a foreign-owned company
- Meeting world standards for quality and costs (through low wages) is necessary to be globally competitive
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Term
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Definition
| All the tools and ideas available for extending the natural physical and mental reach of humankind, facilitating the evolution of the info age, and info that has become a valuable strategic resource for gaining a competitive advantage |
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Term
| What are the two aspects of technology that important to managers? |
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Definition
- Innovation Process
- Intrapreneurship
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Term
| What is the Innovation Process? |
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Definition
| the systematic development and practical application of a new idea |
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Term
| What are the 3 steps in the innovation process? |
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Definition
- Conceptualization-coming up with a new idea
- Product technology- developing a working prototype
- Production technology- develop a profitable production process
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Term
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Definition
| The time it takes for a new idea to be translated into satisfied demand |
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Term
| Innovation companies relay on two sound management practices, what are they? |
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Definition
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Term
| What is concurrent engineering? How is this approach successful? |
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Definition
| A team approach to product design, this approach lets research, design, production, finance, and maketing specialists have a direct say in the product design process from the very beginning and elimates the wait time from transferring from dept to dept |
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Term
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Definition
| An employee who takes personal responsibility for pushing an innovatiove idea through a large organization |
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Term
| What four ways can an organization foster intrapreneurship? |
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Definition
- Focus on results and teamwork
- Rward innovation and risk taking
- Tolerate and learn from mistakes
- Remain flexible and change oriented
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