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Details

MGMT 3000
Pirkle Stinks 2
42
Management
Undergraduate 3
02/02/2009

Additional Management Flashcards

 


 

Cards

Term

The Organization’s Environments

external environment

internal environment

Definition

a.    The external environment is everything outside an organization’s boundaries that might affect it. It consists of the general environment and the task environment.

b.    An organization’s internal environment consists of conditions and forces within the organization.

Term
The General Environment
Definition

a.    The Economic Dimension

b.    The Technological Dimension

c.     The Political-Legal Dimension

Term

The Economic Dimension

                         

Definition

                                           i.      The economic dimension of an organization’s general environment is the overall health and vitality of the economic system in which the organization operates.

Term

The Technological Dimension

                                        

Definition

   The technological dimension of the general environment is made up of the methods available for converting resources into products or services.

Term
The Political-Legal Dimension
Definition

                                           i.      The political-legal dimension of the general environment consists of government regulation of business and the relationship between business and government.

                                        ii.      First, the legal system partially defines what an organization can and can not do.

                                      iii.      Second, pro- or antibusiness sentiment in government influences business activity.

                                      iv.      Finally, politically stability has ramifications for planning.

Term
The Task Environment
Definition

competitors

customer

Suppliers

Regulators

Strategic Partners

Term
competitors
Definition

a.    An organization’s competitors are other organizations that compete with it for resources

Term
customer
Definition

a.    A second dimension of the task environment is a customer, or whoever pays money to acquire an organization’s products or services.

Term
Suppliers
Definition

a.    Suppliers are organizations that provide resources for other organizations.

Term
Regulators
Definition

a.    Regulators are elements of the task environment that have the potential to control, legislate or otherwise influence an organization’s policies and practices.

 

                     i.      Regulatory agencies are created by the government to protect the public from certain business practices or to protect organizations from one another.

                                        ii.      Although interest groups lack the official power of government agencies, they can exert considerable influence by using the media to call attention to their positions.

 

 

Term
strategic partners
Definition

a.    strategic partners (aka strategic allies) – two or more companies that work together in joint ventures or other partnerships.

Term
The Internal Environment
Definition

a.    The owners of a business, of course, the people who have legal property right to that business.

b.    A corporate board of directors is a governing body elected by the stockholders and charged with overseeing the general management of the firm to ensure that it is being run n a way that best serves the stockholders’ interests.

c.     An organization’s employees are also a major element of its internal environment.

d.    A final part of the internal environment is the actual physical environment of the organization and the work that people do.

Term
Ethics
Definition

a.    Ethics is an individual’s personal beliefs about whether a behavior, action, or decision is right or wrong.

Term
Ethical behavior
Definition

a.    Ethical behavior is in the eye of the beholder, the term usually refers to behavior that conforms to generally accepted social norms.

Term
Unethical behavior
Definition

a.    Unethical behavior is behavior that does not conform to generally accepted social norms.

Term
Managerial ethics
Definition

a.    Managerial ethics consist of the standards of behavior that guide individual managers in their work.

Term
conflict of interest
Definition

a.    conflict of interest occurs when an employee’s decision potentially benefits the individual to the possible detriment of the organization.

Term

who establishes the organization’s culture and define what will and what will not be acceptable behavior.

Definition

top managers

Term
Codes of ethics
Definition

a.    Codes of ethics are written statements of the values and ethical standards that guide the firms’ actions.

Term
The Sarbanes-Oxley Act
Definition

a.    The Sarbanes-Oxley Act requires CEOs and CFOs to vouch personally for the truthfulness and fairness of their firms’ financial disclosures.

Term
The board of directors of a public corporation is expected to ensure that...
Definition

a.    The board of directors of a public corporation is expected to ensure that the business is being properly managed and that the decisions made by its senior management are in the best interest of the shareholders and other stakeholders.

Term
Social responsibility
Definition

a.    Social responsibility is the set of obligations an organization has to protect and enhance the societal context in which it functions.

Term
Legal compliance
Definition

a.    Legal compliance is the extent to which the organization conforms to local, state, federal, and international laws.

Term
Ethical compliance
Definition

a.    Ethical compliance is the extent to which the members of the organization follow basic ethical standards of behavior.

Term
Philanthropic giving
Definition

a.    Philanthropic giving is the awarding of funds or gifts to charities or other worthy causes.

Term
Whistle-blowing
Definition

a.    Whistle-blowing is the disclosure, by an employee, of illegal or unethical conduct on the part of others within the organization.

Term
Trends in the International Business
Definition

a.    The volume of international trade increased more than 3,000% between 1960-2000.

Term
   Levels of International Business Activity
Definition

Exporting

Importing

Licensing

Strategic alliance

joint venture

Direct investment

Maquiladoras

Term
Exporting
Definition

a.    Exporting, or making a product in the firm’s domestic marketplace and selling it in another country, can involve both merchandise and services.

Term
Importing
Definition

a.    Importing is bringing a good service, or capital into the home country from abroad.

Term
Licensing
Definition

a.    is an arrangement whereby a firm allows another company to use its brand name, trademark, technology, patent, copyright, or other assets. In return the licensee pays a royalty.

Term
Strategic alliance
Definition

a.    Strategic alliance is where two or more firms jointly cooperate for mutual gain.

Term
joint venture
Definition

a.    A joint venture is a special type of strategic alliance in which the partners actually share ownership of a new enterprise.

Term
Direct investment
Definition

a.    Direct investment occurs when a firm headquartered in one country builds or purchases operating facilities or subsidiaries in a foreign country.

Term