Shared Flashcard Set

Details

MGMT 478 FINAL
MGMT 478 FINAL
7
Management
Undergraduate 4
06/13/2013

Additional Management Flashcards

 


 

Cards

Term
What are the duties of Boards?
Definition

1) Monitor Top Management

2) Initiate and Determine: mergers/acquisitions, strategic planning

3) Represent Shareholders: fiduciary, declare dividends

4) Review Corporate Programs and Resources

Term
What are the 4 Board Committees?
Definition

CANE

Compensation

Audit

Nominating

Executive

Term

Traditional Governance Models: 

Explain a UNITARY BOARD

(More American)

 
Definition

Liberal market economy

Short-term profit orientation

Flexible employment

Performance-related labor

High cost of controlling mgmt

Equity funding

Disclose financial info

Limited legal control

Dispersed ownership

Limits firms in pursuing strategies advantageous to labor

Financial motives

High executive compensation

Market shock countered with layoffs

Term

Traditional Governance Models: 

Explain a TIERED BOARD

(More German)

Definition

Coordinated market economy

Long-term orientation

Long tenure for employees

High cost of controlling labor

Internal funding

Less public financial info

Extensive system of case law

Concentrated ownership

Limits firms in terms of pursuing strategies favorable to shareholders

Web of contacts - social standing

Relatively high worker pay

Market shock absorbed with capital

Term
Two-Tiered: Germany
Definition

Concentrated ownership, single shareholder often owns most of company (bank),or owner is the manager,

Two-tier board required for larger employers (2,000+), committees run the day-to-day business, half internal-half external board members

 

Term
What is the evolutionary pattern of strategy/organizational structure?
Definition

Simple Structure

|

Sales Growth

(coordination/control problems)

|

Functional Structure

(efficient implementation of strategy)

|

Sales Growth

(coordination/control problems)

|

Multidivisional Structure

Term
Functional Structure Workflow
Definition
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