MGT100 - Topic 1

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MGT100 - Topic 1
2015-03-19 03:55:45
MGT100 - Topic 1 (1)
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  1. Intellectual Capital
    The collective brain power or shared knowledge of a workforce that can be used to create value.
  2. Knowledge Worker
    Someone whose mind is an important asset to employers and who adds to the intellectual capital of the organisation.
  3. Globalization
    The worldwide interdependence of resource flows, product markets and business competition that characterises our new economy.
  4. Workforce Diversity
    The composition of a workforce in terms of differences among the members.

    These differences include gender, age, race, ethnicity, religion, sexual orientation and able-bodiedness.
  5. Prejudice
    The holding of negative, irrational opinions and attitudes regarding members of diverse populations, sets the stage for diversity bias in the workplace.
  6. Discrimination
    Actively disadvantages people by treating them unfairly and denying them the full benefits of organisational membership.
  7. Glass Ceiling Effect
    The existence of an invisible barrier or ‘ceiling’ that prevents women and minority groups from rising above a certain level of organisational responsibility.
  8. Critical Survival Skills for the Contemporary Workforce
    • Mastery
    • Contacts
    • Entrepreneurship
    • Love of Technology
    • Marketing
    • Passion for Renewal
  9. Organisation
    A collection of people working together to achieve a common purpose.
  10. Open Systems
    Interact with their environments in the continual process of transforming resource inputs into product outputs in the form of finished goods and/or services.
  11. Productivity
    A summary measure of the quantity and quality of work performance with resource use taken into account.
  12. Performance Effectiveness
    A measure of task output or goal accomplishment.
  13. Performance Efficiency
    A measure of the resource cost associated with goal accomplishment.

    • Cost of labour
    • Equipment use
    • Facility maintenance
    • Returns on capital investments
  14. Changing Nature of Organisations
    • Pre-eminence of technology
    • Demise of 'command-and-control'
    • Focus on speed
    • Embrace of networking
    • Belief in empowerment
    • Emphasis on teamwork
    • New workforce expectations
    • Concern for work-life balance
  15. Total Quality Management
    Managing with an organisation-wide commitment to continuous improvement and meeting customer needs completely.

    Recognised as a hallmark of enlightened productivity management in any organisation.
  16. Managers
    The people in organisations who directly support and help activate the work efforts and performance accomplishments of others.
  17. Top Managers
    Are responsible for the performance of an organisation as a whole, or for one of its larger parts.
  18. Middle Managers
    Are in charge of relatively large departments or divisions consisting of several smaller work units.
  19. Project Managers
    People who coordinate complex projects with task deadlines while working with many people of different expertise, both within and outside the organisation.
  20. Team Leaders (Supervisors)
    People in charge of small work groups composed of non-managerial workers.
  21. 9 Responsibilities of a Team Leader (RICECAPRI)
    • Recruit, train and develop team to meet performance goals.
    • Inform team members about organisational goals and expectations.
    • Clarify goals and tasks, and gather ideas for improvement.
    • Encourage high performance and teamwork.
    • Coordinate with other teams and support the rest of the organisation.
    • Appraise performance and counsel team members.
    • Plan meetings and work schedules.
    • Recommend pay increases and new assignments.
    • Inform higher levels of teams needs and accomplishments.
  22. Line managers
    Are responsible for work activities that make a direct contribution to the organisation’s outputs.
  23. Staff Managers
    Use special technical expertise to advise and support the efforts of line workers.
  24. Functional Managers
    Have responsibility for a single area of activity, such as finance, marketing, production, human resources, accounting or sales.
  25. General Managers
    Are responsible for more complex units that include many functional areas.
  26. Administrators
    Managers working in public or not-for-profit organisations.
  27. Accountability
    The requirement of one person to answer to a higher authority for performance results achieved in his or her area of work responsibility.
  28. Quality of Work Life (QWL)
    The overall quality of human experiences in the workplace.
  29. 'Upside-down pyramid' (Fig 1.3, p 18)
    • Customers and clients
    • Operating workers
    • Team leaders and managers
    • Top managers
  30. The Management Process (p 20)
    • Planning - Setting performance objectives and deciding how to achieve them.
    • Organising - Arranging tasks, people and other resources to accomplish the work.
    • Leading - Inspiring people to work hard to achieve high performance.
    • Controlling - Measuring performance and taking action to ensure desired results.
  31. Lifelong Learning
    The process of continuously learning from our daily experiences and opportunities.
  32. Skill
    An ability to translate knowledge into action that results in desired performance.
  33. Technical Skill
    The ability to use a special proficiency or expertise to perform particular tasks.
  34. Human Skill
    The ability to work well in cooperation with other people.
  35. Emotional Intelligence
    Defined by scholar and consultant Daniel Goleman as the ‘ability to manage ourselves and our relationships effectively’ (p 26)
  36. Conceptual Skill
    The ability to think critically and analytically.
  37. Managerial Competency
    A skill-based capability that contributes to high performance in a management job.