Term
| What are the 4 components of Management? |
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Definition
- Plan
- Organize
- Leading
- Control
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Term
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Definition
| The process of working with people and resources to accomplish organizational goals effectively and efficently. |
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Definition
| Achieving organizational goals. |
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Definition
| Achieving goals with minimal waste of money, time, goods, and people. |
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Term
Functions of Management:
Planning |
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Definition
| Delivering strategic value |
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Term
Functions of Management:
Organizing
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Definition
| Building a dynamic organization |
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Functions of Management:
Leading
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Definition
| Mobilizing people, motivating them to do well at their job |
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Term
Functions of Management:
Controlling
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Definition
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Term
| What are the 3 management levels? |
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Definition
Top Level Managers
Middle Level Managers
Frontline Managers |
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Term
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Definition
| Sr. Executives responsible for the overall management |
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Term
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Definition
| Located in the middle of the organizational hierarchy, reports to the top level managers |
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Term
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Definition
| Supervises the operational activities of the organization (also called operational mangers) |
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Term
| What are TECHNICAL SKILLS |
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Definition
| The ability to perform a specialized task involving a particular method or process |
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Term
| What are CONCEPTUAL AND DECISIONAL SKILLS |
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Definition
Ability to identify and resolve problems for the benefit of the organization and members
*used by middle line managers |
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Term
| What are INTERPERSONAL AND COMMUNICATION SKILLS? |
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Definition
| People skills, the ability to lead, motivate, and communicate effectively. |
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Term
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Definition
The introduction of new goods and services. Company must adapt when consumers demands change
*Quality, Speed, and Service |
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Term
Which one of these today represents todays organizational trend?
More teamwork
Enhanced hierarchy
Specialized Responsibility |
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Definition
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Term
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Definition
| The monitory amount associated with how well a job task, good, or service, meets users needs |
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Term
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Definition
| Keeping cost low to achieve profits and be able to offer prices that are attractive to consumers |
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Definition
| Staffing, training, and motivating people |
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Term
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Definition
Maintaining a network of outside contacts who provide information and favors
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Term
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Definition
| Performing symbolic duties |
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Term
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Definition
| Seeking and receiving information to develop an understanding of the organization |
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Term
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Definition
| Transmitting information from source to source |
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Definition
| Speaking on behalf of the organization about plans, policies, actions, and results |
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Definition
| Searching for new business opportunities and initiating new projects to create change |
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Definition
| Taking corrective action during crises or other conflicts |
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Term
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Definition
| Engaging in negotiations with parties outside of the orginization |
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Term
| 6 stages to decision making |
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Definition
- Identifying problem
- Generating alternative solutions
- Evaluating alternatives
- Making the choice
- Implementing the decision
- Evaluating the decision
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Term
| Reason managers avoid making decisions |
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Definition
Lack of structure
Uncertainty and Risk
Conflict |
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Term
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Definition
| decision made before and that have objectively correct answers and solvable by using simple rule and policies |
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Term
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Definition
| New, novel, complex decisions with having no proven answer. |
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Term
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Definition
| The state that exists when decisions makers have accurate information |
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Term
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Definition
| The state that exists when decision makers insufficient information |
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Term
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Definition
| Opposing pressures of both psychological conflict or conflict between groups |
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Term
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Definition
| Ideas that have been seen or tried before |
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Term
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Definition
| new creative solutions designed specifically for the problem |
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Term
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Definition
| alternative courses of action that can be implemented base on how the future unfolds |
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Definition
| a decision realizing the best possible outcome |
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Term
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Definition
Choosing an option that is acceptable, but not always the best or perfect
*result of laziness |
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Term
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Definition
| Achieving the best possible balance among several goals |
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Term
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Definition
A process in which a decision maker carefully executes all stages of decision making
*GOOD* |
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Term
| Barriers of decision making |
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Definition
- Psychological Bias
- Time Pressure
- Social Realities
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Term
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Definition
Illusion of control- belief of having control when having no control at all
Framing Effects- persuasion, illusion of presentation
Discounting the future- more concerned about short-term then long-term |
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Term
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Definition
| Make bad decisions, you feel rushed so decisions aren't rational |
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Term
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Definition
| Influence by other people and also our thoughts about other people |
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Term
| Problems of using a group |
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Definition
Groupthink- Avoiding disagreement in an effort to strive for agreement
Goal displacement- loses site of original goal, less important goal emerges |
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Term
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Definition
| Issue based difference in perspective |
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Definition
| Emotional disagreement directed towards others |
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Term
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Definition
| Has the job of criticizing to ensure that downsides are fully explored |
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Term
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Definition
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Term
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Definition
| We are unable to be rational because we are human. Unable to be 100% unbiased. |
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Definition
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Definition
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Definition
| Random decisions that may be chaotic |
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Definition
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Term
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Definition
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Term
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Definition
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Term
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Definition
S-specific
M-measurable
A-attainable
R-relevant
T-time frame |
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Term
| The basic planning process |
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Definition
- Situational analysis
- Alternative goals and SMART goals
- Goal and plan evaluation
- Goal and plan selection
- Implementation
- Monitor and control
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Term
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Definition
long-term
*used by top-level managers
"the big-picture" |
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Term
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Definition
Translates broad strategic plans into specific goals and plans
*Used by middle line managers |
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Term
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Definition
Identifying specific procedures and process
"More detail"
*used by front-line |
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Term
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Definition
| identifies a set of businesses, markets, or industries in which an organization competes |
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Term
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Definition
| A strategy employed for an organization that operates a single business and competes in a single industry |
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Term
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Definition
Development of new businesses that produces parts of the organization's product.
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Term
| Concentric disversification |
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Definition
Strategy used to add new businesses that produce related products
*Taking original restaurant and moving it into catering and airline catering |
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Term
| Conglomerate Diversification |
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Definition
| Strategy used to add new businesses that produce unrelated goods. |
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Term
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Definition
Mature market
-Low growth
-Low maintenance-doesn't cost a lot |
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Term
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Definition
Loses large share of market
Small market, low growth in market |
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Term
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Definition
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Term
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Definition
| Why do you only have a small share in a high growth market? |
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Term
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Definition
| Describes the major actions by which a business competes in a particular market |
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Term
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Definition
Wal-mart
-competitive advantage by being efficient and offering a standard |
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Term
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Definition
Organization is unique in its industry or market.
EX: Nordstrom and their "service" |
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Term
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Definition
| each functional area of the organization to suppose to organizations business strategy |
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Term
| Examples of unethical behavior |
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Definition
- abuse
- intimidation of employees
- lying to employees, customers, vendors
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Term
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Definition
| The principles, rules, and values people use in deciding what is right or wrong |
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Definition
| Situation, problem, or opportunity in which an individual must choose between several actions as what is morally right or wrong |
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Term
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Definition
a legal basis for ethical behavior
EX: Murder= unacceptable |
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Term
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Definition
| Justify a decision- do the greatest amount of good for the greatest number of people |
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Term
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Definition
| a moral person and a moral manger who influences other to behave ethically |
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Term
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Definition
| address subjects such as employee conduct, community and environment, shareholders, customers, and suppliers |
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Term
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Definition
| Includes ethics codes, articulating expectations, regarding ethics. |
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Term
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Definition
| Based on ethics programs, prevent, detect, and punish legal violations |
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Term
| Integrity based ethics program |
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Definition
| Include mechanisms designed to instill in people a personal responsibility for ethical behavior. |
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Term
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Definition
| realizing an issue has ethical implications |
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Term
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Definition
| is knowing what actions are morally defensible |
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Term
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Definition
| the strength and persistence to act in accordance with your ethics despite challenges |
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Term
| Why might employees lack courage in ethical issues? |
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Definition
| Belief company will not take affective action |
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