Management Test Two
Card Set Information
Management Test Two
Management Test Two
Ch 3-6 - Management Stark State College Edition
Indirectly influences all organizations within an industry and includes five dimensions.
Includes elements within the organization's boundaries, such as employees, management, and corporate culture
Link to and coordinate the organization with key elements in the external environment.
Occurs when two or more organizations combine to become one.
Is a strategic alliance or program by two or more organizations.
Is the set of key values, beliefs, understandings, and norms shared by members of an organization.
Is an object, act, or event that conveys meaning to others.
Managers emphasize both values and business results to create a ______
Includes the sectors that conduct day-to-day transactions with the organization and directly influence its basic operations and performance.
Explain how the three key elements within the Internal Environment of an organization interact to accomplish objectives and goals.
Refers to the extent to which trade and investments, information, ideas, and political cooperation flow between countries.
Are various tactics that managers use to enter foreign markets.
Market entry strategies
is a market entry strategy in which a company maintains production facilities within its home country and transfers products for sale in foreign countries.
is a form of licensing in which a company provides its foreign franchisees with a complete package of materials and services.
Is a market entry strategy in which the organization is directly involved in managing its production facilities in a foreign country
The most risky type of direct investment
Refers to a country's physical facilities, such as highways, utilities, and airports, that support economic activities.
Includes events such as riots, revolutions, or government upheavals that can affect the operations of an international company.
Is the natural tendency among people to regard their own culture as superior to others.
Which reflects a concern with the past and present and a high value on meeting current obligations
Reflects a greater concern for the future and a high value on thrift and perseverance
Is one in which people use communication to build personal relationships.
People use communication primarily to exchange facts and information
Is the code of moral principles and values that governs the behaviors of a person or group with respect to what is right or wrong.
Is a situation in which all alternative choices or behaviors have potentially negative consequences. Right and wrong cannot be clearly distinguished.
Suggests that actions are ethical when they promote the individual's best long-term interest, because with everyone pursuing self-interest, the greater good is ultimately served.
Says that ethical decisions must be based on standards of equity, fairness, and impartiality.
Holds that ethical decisions are those that best maintain the fundamental rights of the people affected by them.
Refers to the obligation of organizational managers to make choices and take actions that will enhance the welfare and interests of society, as well as the organization.
Corporate Social Responsibility
Refers to any group or person within or outside the organization that has some type of investment or interest in the organization's performance.
Is a formal statement of the organization's values regarding ethics and social issues.
Code of Ethics
Refers to economic development that generates wealth and meets the needs of the current population while preserving society and the environment for the needs of future generations.
Ethical decision making says that the ethical choice is the one that produces the greatest good for the greatest numner
Is the process of initiating a business, organizing the necessary resources, and assuming the associated risks and rewards.
Means that entrepreneurs are motivated to excel and pick situations in which success is likely.
Need to Achieve
is the psychological characteristic that allows a person to be untroubled by disorder and uncertainty
Tolerance for ambiguity
Is an entrepreneurial leader who is committed to both good business and changing the world for the better.
Is formed when two or more people choose to own an unincorporated business.
Is an artificial entity created by the state and existing apart from its owners.
Involves borrowing money, such as from friends, family, or a bank, that has to be repaid at a later date in order to start a business.
Consists of funds that are invested in exchange for ownership in the company
Is a group of companies or individuals that invest money in new or expanding businesses for ownership and potential profits.
Venture Capital Firm
Helps start-up companies by connecting them with a range of experts and mentors who nurture them, thus increasing their likelihood of success
Occurs when a wealthy individual who believes in the idea for a start-up provides personal funds and advice to help the business get started.