BMGT101 - Final Exam
Card Set Information
BMGT101 - Final Exam
Business Management 101 Final Exam
Book - Business Essentials Teacher - Dr. M. Brna
Where dose setting ethical standards start?
It begins at the top of a corporation by adopting a code of business ethics.
those groups, individuals, and organizations that are directly affected by the practices of an organization and therefore have a stake in its performance
Illegal agreement between two or more companies to commit a wrongful act.
responding to increased demand with overly steep price increases
employee who detects and tries to put an end to a company's unethical, illegal, or socially irresponsible actions by publicizing them
What is ethics?
beliefs about what is right and wrong or good and bad in actions that affect others
the attempt of a business to balance its commitments to groups and individuals in its environment, including customers, other businesses, employees, investors, and local communities
What is the stake holder model of social responsibility?
goal set for an extended time, typically five years or more into the future
goal set for a period of one to five years into the future
goal set for the very near future
How do you measure success / failure?
organization's statement of how it will achieve its purpose in the environment in which it conducts its business
process of planning, organizing, leading, and controlling an organization's resources to achieve its goals
What is a goal vs. strategy.
Goal - is what you want to achieve
Strategy is how you are going to achieve the goal.
identification and analysis of organizational strengths and weaknesses and environmental opportunities and threats as part of strategy formulation.
the shared experiences, stores, beliefs, and norms that characterize and organization
diagram depicting a company's structure and showing employees where they fit into its operations
organization in which a great deal of decision-making authority is delegated to levels of management at points below the top.
organization in which most decision-making authorioty is held by upper level management
network, unrelated to the firm's formal authroity structure, of everyday social interaxtions among company employees
What factors play a key role in determinging an organizational structure?
What are the 5 parts of departmentalization?
the extent to which people are self-aware, can manage their emotions, can motivate themselves, express empathy for others, and possess social skills
employee / employer psychological contract
set of expectations held by an employee concerning what he or she will contribute to an organization and what the organization will return provide the employee
person job fit
the extent to which a person's contributions and the organization's inducements match one another
tendency for productivity to increase when workers believe they are receiving special attention from mamangement
What are the order of Maslows hierarchy of human needs?
1) Physiological Needs
2) Security Needs
3) Social Needs
4) Esteem Needs
5) Self Actualization Needs
theory of motivation holding that people are naturally lazy and uncooperative
theory of motivation holding that people are naturally energetic, growth-oriented, self-motivated, and interested in being productive
theory of motivation holding that people evaluate their treatment by the organization relative to the treatment of others
Management by Objectives
set of procedures involving both managers and subordinates in setting goals and evaluating progress
Managerment vs. leadership
- agenda setting
process of helping an organizations maintain an effective alignment with its environment
leader behaviors that reflect high ethical standards
an organization of individuals to provide an institutional auction setting in which stocks can be bought and sold
statistical indicator designed to measure the performance of a large group of stocks or track the price changes of a stock market