MTP midterm ch1-8
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What are the essential managerial tasks?
4 essential managerial tasks are planning, organizing, leading, and controlling
when managers identify and select appropriate organizational goals and courses of action and when they develop strategies to achieve high performance.
3 steps of planning
- 1. decide which goals to pursue
- 2. decide which strategies to use to obtain goals
- 3. determine how resources will be used to pursue strategies and obtain goals.
- - structuring work relationships that allow members to work together to achieve goals.
- - by placing people in teams according to job specific tasks can help to determine authority and responsibility among them.
- - organizational structure is a result of organizing
when managers formulate a clear vision for employees to follow and energize and enable employees to help them understand their importance to the organization and obtaining goals.
where managers evaluate how well the organization has achieved its goals and if corrective actions need to be taken in order to maintain or improve performance.
What are the three major types of managerial skills?
conceptual skills, human skills, and technical skills
the ability to analyze and diagnose a situation and distinguish between cause and effect; the ability to identify opportunities and use managers and resources to take advantage of them
the ability to understand, alter, lead, and control the behavior of individuals and groups; work well with others
the job specific skills required to perform a role at a high level. ex: manufacturing, accounting, marketing, IT skills
what are the two major factors for recent changes in management practices?
- 1- Global competition:
- 2- Advances in Information Technology: allows managers to access more and better information to improve their ability to plan, organize, lead, and control. To utilize IT to increase efficiency, managers are restructuring and outsourcing. restructure is downsizing operations to lower costs. outsourcing is sending operations to an outside organization. empowering employees and having self-managed teams to help improve efficiency and effectiveness.
the ability of an organization to outperform competition through more effective and efficient production of goods and services.
What are the four building blocks of competitive advantage?
superior 1) efficiency- increased when the amount of resources used for production are decreased, 2) quality- being improved through the use of TQM, 3) innovation- creating new or improved products for customer wants or developing better ways for production, 4) responsive to customer- need to know what customers want and need and work towards fulfilling those needs.
What is the need for achievement?
the extent to which one has a desire to perform challenging tasks well and meet personal standards for excellence; to work hard and fulfill personal standards. People with high needs set clear goals and like receiving feedback on their performance.
What is the need for affiliation?
the extent to which a person is concerned about relationships, being liked, and how well people get along.
What is the need for power?
the extent to which a person desires to control others; to be in control and coach others to perform better.
What are the two kinds of personal values?
- 1) Terminal value: a life long goal an individual seeks to achieve. Includes things such as a prosperous life, family security, equality, salvation, and self-respect.
- 2) Instrumental value: a mode of conduct an individual follows; ways of behavior they think are acceptable. Includes things such as ambition, honesty, responsibility, courage, self-control, and obedience.
- - One's value system signifies what they as individuals are trying to accomplish and become within their personal and work lives.
Organizational commitment and its relationship to organizational culture.
OC is how a manager feels and the beliefs they have toward their organization as a whole. Those who are committed believe in their organization, are proud of what they stand for, and feel a high degree of loyalty. OC can be especially high when employees truly believe in organizational values, thus leading to a strong organizational culture.
Differentiate between a mood and an emotion. How do they affect the organization?
- 1) Mood: a feeling or state of mind. When in a positive mood, tend to feel excited and happy; when in a negative mood, tend to feel distressed or fearful.
- 2) Emotion: more intense feeling than a mood and is often directly linked to what caused the emotion; usually short lived.
- - They both affect the organization in that the mood/emotion someone has is likely to affect the way they interact with others. Employees with positive managers tend to work at higher levels and are less likely to quit than those with managers that are more negative.
- - They affect creativity, play a part in ethical decision making, and can be an indicator of what is going on in the workplace.
What is emotional intelligence? How can having it help managers?
- - Emotional intelligence is the ability to understand and manage your moods and emotions and the moods and emotions of others.
- - Managers that have high levels of EI are able to understand their own feelings, why they have them, and effectively manage them.
- - Having good EI can help managers perform important interpersonal roles by being able to understand their employees feelings and help them manage them. This results in building strong interpersonal bonds. Helps to understand and relate to others.
Organizational culture, described in detail.
- - the shared values, beliefs, and norms that influence how employees work together to achieve organizational goals; it reflects the distinctive way members perform their jobs and relate to those both within the organization and outside of it.
- - Managers are an important part because of their multiple important roles and their personality, as it affects how they manage their team.
- - Founder values, organizational socialization, ceremonies and rights, and stories and language are also important factors of organizational culture.
What are the four ethical rules?
- 1) Utilitarian rule
- 2) Moral Right rule
- 3) Justice rule
- 4) Practical rule
- - states that the decision should create the greatest good for the greatest amount of people.
- - Managers need to consider the amount of harm/good their decision will have on the stakeholders
Moral Right Rule
- - states that the decision should maintain and protect fundamental human rights.
- - managers should choose the option that protects and upholds the stakeholders' rights.
- - states that the decision distributes benefits and harms fairly among people/groups.
- - managers need to determine that fair rules/procedures for distributing outcomes.
- states that the manager should have no problem sharing the decision with the public; their decision would be considered socially acceptable.
What are the managerial roles that could be used to manage diversity?
1) interpersonal roles: managers can emphasize the importance of effective diversity management as a valued good, serve as role models, and encourage cooperation and team work
2) informational roles: managers evaluate how fairly diverse employees are being treated, emphasize the intolerance of discrimination, and remind employees of diversity policies/initiatives
3) decisional roles: managers commit resources to develop ways to manage diversity, quick to correct inequalities and discriminating behavior, and work with organizations to encourage effective management.
Describe and explain the two basic forms of sexual harassment.
- 1) Quid Pro Quo Sexual Harassment: occurs when an employee is asked or forced to perform sexual favors in exchange for a work-related opportunity or avoidance of a negative consequence. the more extreme form of sexual harassment
- 2) Hostile Work Environment: occurs when an employee faces intimidating, hostile, or offensive work environment because of their sex. Includes crude comments, lewd jokes, or displaying pornography that makes the work environment unpleasant.
Describe the steps managers can take to eradicate sexual harassment.
- There are four initial steps managers can take to eradicate sexual harassment.
- 1) develop and communicate a sexual harassment policy that is endorsed by top management; should include prohibitions against both types of harassment and examples of unacceptable behaviors, reporting procedures, and disciplinary actions.
- 2) use a fair complaint procedure to investigate charges that is managed by a neutral third party. Charges should be dealt with properly and promptly and alleged harassers should be treated fairly.
- 3) take corrective actions promptly when it has been determined that sexual harassment has occurred.
- 4) provide sexual harassment education and training to all employees.
What is the Global Environment?
- a set of forces and conditions outside an organization's boundaries that affect the way it operates and shapes behavior
What are the two environments of the global environment?
- - general environment: forces that affect the organization and task environment include technological, sociocultural, demographic, economic, and political and legal forces.
- - task environment: forces that result from suppliers, competitors, distributors, and customers; they affect management's resource obtainment and outputs along with decision making. Changes among suppliers can either benefit or harm an organization; they need to keep updated on their suppliers. Competitors affect organizations as they need to continually be innovative to keep their customer base and compete against the competition. Managers need to think about the effects that distribution decisions may have on the organization. Organizations need to ensure they are fulfilling their customers' needs and keeping them happy.
What are the three sources of barriers to entry?
1) Economies of scale: cost advantages associated with large operations. Result from factors such as manufacturing large quantities of products of buying in bulk. If an organization in the environment is large and has significant EOS, their costs are lower and newcomers will have difficulty entering the industry.
2) Brand loyalty: customers' preference of an existing organizations products. If an organization has a significant brand loyalty, new entrants will have difficulty entering the market and find it costly to obtain a share of it.
3) Government regulations: regulations such as deregulation allow new entrants and cause a threat to existing organizations. regulations such as administrative barriers create barriers to entry and limit the amount of goods import from oversea companies.
Discuss the assumptions that underlie the classical model of decision-making.
- -The classical decision-making model is a prescriptive approach to decision making based on the assumption that the decision maker can identify all possible alternatives and their consequences and rationally choose the most appropriate.
- - Managers make a series of simplifying assumptions:
- 1) it is assumed that managers have all the information available to list all alternatives and their consequences.
- 2) it is assumed that managers have the mental facility to process information and rank the alternatives from most to least preferred
- 3) it is assumed that managers know what alternative is best to select in regards to what is best for the organization.
What are Senge's five principles that an organization can use to create a learning organization?
- 1) Managers need to allow members to develop a sense of personal mastery; employees need to be empowered and have the ability to experiment, create, and explore.
- 2) Complex, challenging mental models need to be developed to deepen employees' understandings of what is involved in an activity; should be encouraged to experiment and take risks.
- 3) Promote team learning since majority of important decision are make within groups.
- 4) Ensure all employees participate in a shared vision.
- 5) Encourage systems thinking and recognize the effect of one level of learning on another.
What are the different ways to promote intrapreneurship?
- Three ways to promote intrapreneurship:
- 1) encourage individuals to assume the role of product champion- manager who takes ownership of product, provides leadership and vision to take product from idea stage to final customer.
- 2) use skunkworks- group of intrapreneurs separated from normal operation to solely focus on developing a product.
- 3) Reward for innovation
Explain the three levels and three steps in the planning and strategy-making process.
- - 3 steps in planning: 1) determine mission and goals 2) formulate strategy for the situation 3) implement strategy with necessary resources.
- - plans and strategies take place at 3 levels:
- 1) corporate level: top management's decisions pertaining to the mission, strategies, and structure; indicates which industries the organization is going to compete it. 2) business level: divisional managers decide related to long term goals, strategy, and structure; indicate ways to compete against rivals. 3) functional level: functional managers decide how to help attain business level goals; plan to improve performance to add value.
Discuss Porter's five forces model.
- 5 forces:
- 1) level of rivalry among competitors: organization should strive to make themselves unique from others to create high barrier of entry.
- 2) threat of new entrants: organizations need to differentiate to make it harder for new entrants.
- 3) Bargaining power of suppliers: suppliers have a great amount of power over prices when there are a select few of them for the resource.
- 4) Bargaining power of buyers: larger buyers have a great amount of power over prices when there are a select few of them.
- 5) Threat of substitute: organizations need to think of the customer and what they want and need; think of the products they might prefer.
What four principal corporate level strategies can be used to help increase sales and profits?
- 1) concentrate on a single industry by reinvesting profits to strengthen competitive position in industry. use functional skills to develop new products or improve products; such as apple does.
- 2) use vertical integration in which operations are expanded either backward into an industry to produce inputs for products or forwards into an industry that uses, distributes, or sells products.
- 3) diversify to expand operations into a new industry to create new kinds of valuable goods/services.
- 4) Partake in international expansion through either the global strategy (same process just in another national market) or multi-domestic strategy (customizing to specific national market).
Describe and explain the different modes of international expansion.
- 2 modes of international expansion:
- 1) global strategy: when the same standardized product is sold in a different national market using the same marketing approach as in its home market.
- 2)multi-domestic strategy: customizing the product and marketing approach to specific national market conditions.
Describe and explain organizational structure, organizational design, and contingency theory.
- - organizational structure is the formal system of task and job reporting relationships that coordinate and motivate employees to work together to achieve goals. It is affected by technology, human resources, strategy, and organizational environment.
- - organizational design is the process by which managers make choices about task and job relationships to result in a particular organizational structure.
- - contingency theory is when managers design organizational structures to fit the factors that affect the organization the most and cause the most uncertainty.
According to the job characteristics model, list and define the characteristics that determine how motivating a job is.
- 5 characteristics: 1) skill variety 2) task identity 3) task significance 4) autonomy 5) feedback
- - Ensuring a job has skill variety, task identity, and task significance can result in employees feeling that their work holds importance.
- - Autonomy allows subordinates freedom to schedule tasks and decide how to complete them giving them a sense of responsibility.
- - Through feedback, employees are given information that informs them how well they are performing their job and what they may need to work on to do even better.
Describe the matrix structure and the concept of two-boss employees.
- In a matrix structure, people and resources are grouped by function and by product.
- - Grouped by function allows them to learn from one another
- - Grouped by product, employees are in a team of members from different functions and work together to develop a specific product.
- - Each person reports to 2 managers: 1) a functional boss who assigns teams an evaluates performances from functional perspective 2) product team boss who evaluates the teams performances. This results in the concept of two-boss employees.
Define and explain the four steps in the control process.
1) establish the standards of performance, goals, or targets that will be used to evaluate performance against. The standards measure efficiency, quality, innovation, and responsiveness to customers. 2) measure actual performance - bother outputs and behavior 3) compare actual performance to standard performance 4) evaluate the results and determine if standards need to be raised or if they were set too high and corrective actions need to be made to ensure they are met.
Describe the three primary measures used to assess the output performance of an organization.
- 1) financial measurement of performance: evaluates performance based on finances such as profit ratios, liquidity ratios, and activity ratios; informs managers how well they are using and generating profits and whether or not corrective actions need to be taken.
- 2) organizational goals: set goals and establish performance standards; goals should be harmonious at all levels of the organization.
- 3) operating budgets: state how resources are intended to be used to achieve goals.
What are three ways management could use behavior control with subordinates?
- 1) direct supervision: monitor employees, observe behaviors, teach appropriate/inappropriate behaviors, and intervene with corrective action when needed.
- 2) management by objectives: evaluate employees ability to achieve specific goals/performance standards and meet operating budgets.
- 3) bureaucratic control: system of rules and standard operating controls that shape and regulate behavior and specifies what employees should do when there is a problem.
How does organizational culture help managers exert control over subordinates?
- - Employees internalize the organizational values and norm of the culture and use them as a guide for their decisions and actions.
- - It makes control possible in two ways: 1) when managers cannot use output or behavior control 2) when a strong and cohesive set of values and norms are in place, employees focus their thoughts on what is best for the organization in the long run.
Define and explain adaptive culture and inert culture. Which is better for an organization?
- - Adaptive culture: culture in which values and norms help the organization build momentum and grow and change as needed to achieve goals and be effective. Value employees and invest in them, build relationships; give employees rewards linked directly to their performance and the performance of the organization as a whole.
- - Inert culture: culture where values and norms fail to motivate or inspire employees; often leads to stagnation or failure. Poor working relationships are developed between employees are the organization. Employee practices are based on the needs of the organization and they are often not rewarded based on their performance. This results in little incentive to increase skill base or to help the organization overall.
- - Adaptive culture is better for an organization as employees are valued and work toward helping the organization in the long run.
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