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Management
chapters 1-4
136
Business
Undergraduate 2
02/20/2012

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Term
Management
Definition
The pursuit of organizational goals efficiently and effectively by
Integrating the work of people through
Planning, organizing, leading, and controlling the organization’s resources
Term
Organization
Definition
a group of people who work together to achieve some specific purpose
Term
Efficient
Definition
use resources- people, money, raw materials, and the like-wisely and cost effectively
Term
Effective
Definition
To achieve results, to make the right decisions and to successfully carry them out so that they achieve organizational goals
Term
Rewards of studying management
Definition
1. Understanding how to deal with organizations from the outside
2. Understanding how to relate to your supervisors
3.Understanding how to interact with co-workers
4.Understanding how to manage yourself in the workplace
Term
Seven challenges to being a star manager
Definition
1.Managing for competitive advantage , for diversity, globalization, information technology, ethical standards, sustainability, and your own happiness and life goals
Term
Competitive Advantage
Definition
the ability of an organization to produce goods are services more effectively than competitors do
Term
Managing for competitive Advantage
Definition
1.Being responsive to customers
2. Innovation
3. Quality
4. Efficiency
Term
Sustainability
Definition
economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs
Term
The four principal functions of managers
Definition
1.Planning
2.Organizing
3.Leading
4.Controlling
Term
Top managers
Definition
make long-term decisions about the overall direction of the organization and establish the objectives,policies, and strategies for it
Term
Middle managers
Definition
implement the policies and plans of the top managers above them and supervise and coordinate the activities of the first-line managers below them
Term
First-Line managers
Definition
Make short-term operating decisions, directing the daily tasks of nonmanagerial personnel
Term
functional manager
Definition
responsible for just one organizational activity
Term
general manager
Definition
responsible for several organizational activities
Term
Mintzberg's Manager Roles
Definition
1. Manager relies more on VERBAL than on written communication
2.Manager works long hours at an intense pace
3.Manager's work is characterized by fragmentation,brevity, and variety
Term
interpersonal roles
Definition
managers interact with people inside and outside their work units (figureheads,leader,liaison)
Term
Informational roles
Definition
Managers receive and communicate information ( monitor, disseminator, spokesperson)
Term
decisional roles
Definition
managers use information to make decisions to solve problems are take advantage of opportunities (entrepreneur, disturbance handler, resource allocator, negotiator)
Term
Entrepreneurship
Definition
process of taking risks to try to create a new empire
Term
Entrepreneur
Definition
someone who sees a new opportunity for a product or service and launches a business to try to realize it
Term
Intrapreneur
Definition
someone who works inside an existing organization who sees an opportunity for a product or service and mobilizes the organization's resources to try and realize it
Term
Necessity entrepreneurs
Definition
people who suddenly must earn a living and are simply trying to replace lost income and are hoping a job comes along
Term
opportunity entrepreneurs
Definition
those who start their business out of a burning desire rather than because they lost a job
Term
technical skills
Definition
the job-specific knowledge needed to perform well in a specialized field
Term
conceptual skills
Definition
the ability to think analytically, to visualize an organization as a whole and understand how the parts work together
Term
Human skills
Definition
the ability to work well in cooperation with other people to get things done
Term
Most valued manager traits
Definition
1.Ability to motivate and engage others
2.Ability to communicate
3.Work experience outside the US
4.High energy levels to meet the demands of global travel and a 24/7 world
Term
evidence based management
Definition
translating principles based on best evidence into organizational practice,bringing rationality to the decision making process (Pfeffer and Sutton)
Term
historical perspective
Definition
classical,behavioral, and quantitative
Term
Contemporary Perspective
Definition
systems,contingency, and quality- management
Term
classical viewpoint
Definition
Emphasis on ways to manage work more efficiently
Term
Scientific Management
Definition
emphasized the scientific study of work methods to improve the productivity of individual workers (Fredrick W. Taylor, Frank and Lillian Gilbreth)
Term
Principles of Scientific Management
Definition
1.Scientifically study each part of the task
2.Carefully select workers with the right abilities
3.Give workers the training and incentives to do the task
4.Use scientific principles to plan the work methods
Term
Administrative Management
Definition
concerned with managing the total organization
Term
Henri Fayol
Definition
French engineer and industrialist first to identify the major functions of management
Term
Five positive Bureaucratic features
Definition
1.Well-defined hierarchy of authority
2.Formal rules and procedures
3.A clear division of labor
4.Impersonality
5.Careers based on merit
Term
Behavioral viewpoint
Definition
emphasized the importance of understanding human behavior and of motivating employees toward achievement
Term
Hugo Munsterberg
Definition
father of industrial psychology
1.Study jobs and determine which people are best suited to specific jobs
2.Identify the psychological conditions under which employees do their best work
3.Devise management strategies to influence employees to follow management's interests
Term
Mary Parker Follet
Definition
social worker and social
1.Organizations should be operated as "communities"
2.Conflicts should be resolved by having managers and workers talk over differences and find solutions that would satisfy both parties
3.The work process should be under control of workers with relevant knowledge
Term
Hawthorne effect
Definition
Employees worked harder if they received added attention, thought that managers cared about their welfare and that supervisors paid special attention to them (Elton mayo)
Term
Human relations movement
Definition
proposed that better human relations could increase worker productivity (Abraham Maslow & douglas McGregor)
Term
Maslow's Hierarchy of Needs
Definition
1.Self-actualization
2.Esteem
3.Social
4.Safety
5.Physiological
Term
Theory X
Definition
Pessimistic view of workers, they are irresponsible, resistant to change, lack ambition, hate work,and want to be led
Term
Theory Y
Definition
optimistic view of workers, workers are considered capable of accepting responsibility, self-direction, self control and being creative
Term
Behavioral Science
Definition
Relies on scientific research for developing theories about human behavior that can be used to provide practical tools for managers
Term
Quantitative Management
Definition
application of management of quantitative techniques, such as statistics and computer simulations (Management science, operations management)
Term
Management Science
Definition
stresses the use of rational, science-based techniques and mathematical models to improve decision making and strategic planning
Term
Operations Management
Definition
focuses on managing the production and delivery of an organization's products or services more effectively
Term
Systems viewpoint
Definition
regards the organization as a system of interrelated parts, collection of subsystems, part of the larger environment
Term
Inputs
Definition
the people,money,information,equipment,and materials required to produce an organization's goods or services
Term
Transformational processes
Definition
the organization's capabilities in management and technology that are applied to converting inputs into outputs
Term
outputs
Definition
the products,services,profits,losses, employee satisfaction or discontent, etc., produced by the organization
Term
feedback
Definition
information about the reaction of the environment to the outputs, which affects the inputs
Term
open system
Definition
continually interacts with its environment
Term
closed system
Definition
has little interaction with its environment
Term
Contingency viewpoint
Definition
emphasizes that a manager's approach should vary according to the individual and the environmental situation
Term
Quality
Definition
total ability of a product or service to meet customer needs
Term
Quality control
Definition
the strategy for minimizing errors by managing each stage of production
Term
quality assurance
Definition
focuses on the performance of workers, urging employees to strive for "zero defects"
Term
Total quality management(TQM)
Definition
comprehensive approach-led by top management and supported throughout the organization dedicated to continuous quality improvement, training, and customer satisfaction (Deming,Juran)
Term
Total Quality Management steps
Definition
1.Make continuous improvement a priority
2.Get every employee involved
3.Listen to and learn from customers and employees
4.Use accurate standards to identify and eliminate problems
Term
learning organization
Definition
organization that actively creates,acquires,and transfers knowledge within itself and is able to modify its behavior to reflect new knowledge
Term
Stakeholders
Definition
the people whose interests are affected by an organization's activities (Internal, external)
Term
Internal Stakeholders
Definition
consist of employees, owners, and the board of directors
Term
Owners
Definition
consist of all those who can claim the organization as their legal property
Term
Board of Directors
Definition
members elected by the stockholders to see that the company is being run according to their interests
Term
External Stakeholders
Definition
people or groups in the organization's external environment that are affected by it (Task, General Environment )
Term
Customers
Definition
those who pay to use an organization's goods or services
Term
Competitors
Definition
people or organizations that compete for customers or services
Term
Suppliers
Definition
a person or organization that provides raw materials, services, equipment,labor or energy to other organizations
Term
Distributor
Definition
a person or organization that helps another organization sell its goods and services to customers
Term
Strategic Allies
Definition
describes the relationship of two organizations who join forces to achieve advantages neither can perform as well alone
Term
Government regulators
Definition
regulatory agencies that establish ground rules under which organizations may operate
Term
Special interest groups
Definition
groups whose members try to influence specific issues
Term
Economic forces
Definition
consist of the general economic conditions and trends- unemployment,inflation, interest rates, economic growth- that may affect an organization's performance
Term
Technological forces
Definition
new developments in methods for transforming resources into goods and services
Term
Sociocultural forces
Definition
influences and trends originating in a country's, a society's or a culture's human relationships and values that may affect an organization
Term
Demographic forces
Definition
influences on an organization arising from changes in the characteristics or a population, such as age, gender, or ethnic origin
Term
Political-Legal forces
Definition
changes in the way politics shape laws and laws shape the opportunities for and threats to an organization
Term
international forces
Definition
changes in the economic,political, legal, and technological global system that may affect an organization
Term
Ethical dilemma
Definition
situation in which you have to decide whether to pursue a course of action that may benefit you or your organization but that is unethical or even illegal
Term
Ethics
Definition
standards of right and wrong that influence behavior
Term
Values
Definition
relatively permanent and deeply held underlying beliefs and attitude that help determine a person's behavior
Term
Utilitarian
Definition
Guided by what will result in the greatest good for the greatest number of people
Term
Individual
Definition
guided by what will result in the individual's best long term interest, which ultimately are in everyone's self-interest
Term
Moral-Rights
Definition
guided by respect for the fundamental rights of human beings
Term
Justice
Definition
guided by respect for impartial standards of fairness and equity
Term
Kohlberg's Levels of ethics
Definition
Level 1-preconventional(follows rules)
Level 2-conventional(follows expectations of others)
Level 3-postconventional(guided by internal values)
Term
How to promote ethics
Definition
1.Creating a strong ethical climate
2.Screening prospective employees
3.Instituting ethics codes and training programs
Term
social responsibility
Definition
manager's duty to take actions that will benefit the interests of society as well as of the organization
Term
Corporate social responsibility
Definition
notion that corporation are expected to go above and beyond following the law and making a profit
Term
Philanthropy
Definition
making charitable donations to benefit humankind
Term
Diversity
Definition
represents all the ways people are unlike and alike
Term
Personality
Definition
stable physical and mental characteristics responsible for a person's identity
Term
internal dimensions of diversity
Definition
human differences that exert a powerful, sustained effect throughout every stage of our lives
Term
external dimensions of diversity
Definition
consist of the personal characteristics that people acquire, discard, or modify throughout their lives include an element of choice
Term
organizational dimensions
Definition
include management status, union affiliation, work location, seniority, work content, and division
Term
Ethnocentrism
Definition
belief that one's native country,culture,language,abilities or behavior is superior to those of another culture
Term
globalization
Definition
the trend of the world economy toward becoming a more interdependent system
Term
global village
Definition
the "shrinking" of time and space as air travel and the electronic media have made it much easier for the people of the globe to communicate with one another
Term
e-commerce
Definition
the buying and selling of products and services through computer networks
Term
global economy
Definition
the increasing tendency of the economies of the world to interact with one another as one market instead of many national markets
Term
positive effects
Definition
more markets for american exports
Term
negative effects
Definition
vast surplus funds from global investments flowed into U.S that were invested badly in subprime mortgages
Term
multinational corporation
Definition
business firm with operations in several countries
Term
multinational organization
Definition
nonprofit organization with operations in several countries
Term
ethnocentric managers
Definition
believe that their native country,culture,language, and behavior are superior to all others
Term
parochialism
Definition
narrow view in which people see things solely through their own view
Term
polycentric managers
Definition
take the view that native managers in the foreign offices best understand native personnel and practices, and so the home office should leave them alone
Term
geocentric managers
Definition
accept that there are differences and similarities between home and foreign personnel and practices and that they should use whatever techniques are most effective
Term
Why companies expand internationally
Definition
availability of supplies,new markets,lower labor costs,access to finance capital,avoidance of tariffs and import quotas
Term
Five ways of Expanding internationally (lowest risk to highest)
Definition
global outsourcing, importing exporting and countertrading, licensing and franchising, joint ventures, and wholly-owned subsidaries
Term
global outsourcing
Definition
using suppliers outside the U.S to provide labor,goods, or services
Term
importing
Definition
a company buys goods outside the country and resells them domestically
Term
exporting
Definition
a company produces goods domestically and sells them outside the country
Term
countertrading
Definition
bartering goods for goods
Term
licensing
Definition
a firm allows a foreign company to pay it a fee to make or distribute the firm's product or service
Term
franchising
Definition
a firm allows a foreign company to pay it a fee and a share of the profit in return for using the firm's brand name and a package of materials and services
Term
joint ventures
Definition
formed with a foreign company to share the risks and rewards of starting a new enterprise together in a foreign country
Term
wholly-owned subsidiary
Definition
foreign subsidiary that is totally owned and controlled by an organization
Term
greenfield venture
Definition
a foreign subsidiary that the owning organization has built from scratch
Term
tariffs
Definition
customs duty or tax levied mainly on imports
Term
import quotas
Definition
limits one the numbers of a product that can be imported
Term
embargoes
Definition
complete ban on the import or export of certain products
Term
World Trade Organization (WTO)
Definition
designed to monitor and enforce trade agreements, agreements based on the General Agreement on Tariffs and Trade (GATT), consists of 153 countries
Term
World bank
Definition
purpose is to provide low-interest loans to developing nations for improving transportation,education,health, and telecommunications
Term
International Money Fund (IMF)
Definition
designed to assist in smoothing the flow of money between nations
Term
trading bloc
Definition
group of nations within a geographic region that have agreed to remove trade barriers with one another ( economic community)
Term
low-context culture
Definition
shared meanings are primarily derived from written and spoken words
Term
high context culture
Definition
people rely heavily on situational cues for meaning when communicating with others
Term
Individualism/collectivism
Definition
how loosely or tightly are people socially bonded
Term
power distance
Definition
how much do people accept inequality in power
Term
uncertainty avoidance
Definition
how strongly do people desire certainty
Term
masculinity/femininity
Definition
how much do people embrace stereotypical male or female traits
Term
Globe project's Nine cultural dimensions
Definition
power distance, uncertainty avoidance, institutional collectivism, in-group collectivism, gender egalitarianism, assertiveness, future orientation, performance orientation, human orientation
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