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Midterm 2 Lists
N/A
14
Business
Undergraduate 1
03/10/2015

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Term
Managerial process
Definition
1. Anticipating potential problems or opportunities and designing plans to deal with them.
2. Coordinating and allocating the resources need to implement plans
3. Guiding personel through the implementation process
4. Reviewing results and making necessary changes
Term
How managers maximize the flow of information and efficiency of work processes
Definition
1. division of labour
2. departmentalization
3. delegation
Term
controlling 5 stages
Definition
1. Setting performance standards and goals
2. Measure performance
3. Compare actual performance to established performance standards
4. Take corrective action
5. Use information gained from the process to set up future performance standards
Term
Decision making process 5 steps
Definition
1. Define problem
2. Identify possible solutions
3. Select on or more alternatives
4. Put the plan into action
5. Check plan effectiveness
Term
5 types of departmentalization
Definition
1. Functional
2.Product
3.Process
4.Costumer
5.Geographic
Term
Optimal span of control 5 factors
Definition
1.nature of the task
2.location of the workers
3.ability of the manager to delegate responsibility
4.amount of interaction and feedback between workers and manager
5.level of skill and motivation of the workers
Term
9 advantages of matrix structure
Definition
1.teamwork
2.efficient use of resources
3.flexibility
4.ability to balance conflicting objectives
5.high performance
6.opportunities for personal and professional development
7.power struggles
8.confusion among team members
9.lack of cohesiveness
Term
5 key attributes of virtual corporation
Definition
1.technology
2.opportunism
3.excellence
4.trust
5.no borders
Term
4 principles of scientific management
Definition
1. develop a scientific approach for each element of a persons job
2.scientifically select, train, teach and develop workers
3.encourage cooperation between workers and managers
4.divide work and responsibility between management and workers according to who is better suited for each task
Term
5 Maslow's Hierarchy of needs
Definition
1. physiological needs
2. safety needs
3. social needs
4. esteem needs
5. self-actualization needs
Term
Alderfers ERG Theory LOOK IT UP ****
Definition
Term
4 Differences between two theories
Definition
1. Alderfer recognizes that there can be overlap of needs
2. Maslow allows for only one need to be pursued at one time;
3. ERG theory accounts for differences in culture and better explains that there are need orders for different people
4. Maslow's assumes that people will stay at one level and then move on to the next
Term
3 things theory x assumes
Definition
- the average person dislikes work and will avoid if possible
- because people don't like to work, they must be controlled, directed, or threatened with punishment to get them to make an effort
-the average person prefers to be directed, avoid responsibility, is relatively lacking in ambition, and wants security above all else
Term
3 things theory Y assumes
Definition
-work is as natural as play or rest
-workers can be motivated by using positive incentives
-under proper conditions, the average person seeks out responsibility
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