mgmt 320

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mgmt 320
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  1. Management
    The attainment of organizational goals in an effective and effiecient manner through planning, organizing, leading and controlling organizational resources
  2. 4 Basic Functions of management
    • planning - select golas and ways to obtain them
    • organizing - assign responsibility for tasks
    • leading - use influence to motivate
    • controlling - monitor activites and make corrections
  3. Organization
    A formally structured collection of individuals working toward common/shared goals
  4. Efficiency
    the use of minimal resources(input) to produce a desired volume of profit
  5. Effectiveness
    the degree to which the organization acheives a stated goal
  6. Conceptual Skills
    cognitive ability to see the organization as a wwhole and the relationship among its parts

    top managers need this the most
  7. Human Skills
    Ability to work with and through other people and work effectively as a group member

    all managers need this skill
  8. Technical Skills
    understanding of and proficiency in the performance of specific tasks

    • lower managers -> Most
    • medium managers -> More
    • Top Managers -> least
  9. Roles of Managers
    Informational roles: develop and maintain information network (monitor, spokesperson)

    Interpersonal roles: pertain to relationships with others (figurehead, leader)

    Decisional Roles: to make choices requiring conceptual and human skills (entrepenuer, negotiator)
  10. Crisis Management Skills
    • Stay Calm
    • Be visible
    • put people before business
    • tell the truth
    • know when to get back to business
  11. Learning Organization
    • Continuously improves based on the lessons of experience manages knowledge,
    • workers must possess and use knowledge,
    • knowledge needed is increasing,
    • knowledge needs to be preserved and communicated continuous improvement through teams,
    • open book management of information and empowered workers
  12. Classical Perspective
    rational, scientific, approach to study of management and sought to make workers and organizations like efficient machines
  13. Scientific Management
    standard methods, careful selection, training, good working conditions, provide incentives
  14. Bureaucratic organizations
    defined authority and responsibility, set procedures, goals of fairness and efficiency, seperation of management and owners
  15. Administrative Management
    14 principles

    • unity of comand
    • division of work
    • unity of direction
    • scalar chain of command
    • authority = responsibility
  16. How did the Hawthorne studies lessen the influence of the classical perspective
    enlightened treatment of workers and powersharing between managers and employees, satisfaction of employees' social and physiological needs as key to increased worker productivity
  17. Theory X
    Classical

    • People dislike work and prefer to be directed
    • must be coerced to work
    • want to avoid responsibility
    • have little ambition
    • want security above everything
  18. Theory Y
    Human resources

    • people will accept respnsibility
    • have intellect that could be apploed to organizational goals
    • only partially use their intellectual potential
  19. Total Quality Management
    emphasizes continuous improvement in all organizational processes, lead to the learning organization
  20. Two categories of factors in organization's environment that combine to determing of uncertianty in the environment
    • Rate of change in factors in environment
    • number of factors in organization environment
  21. Three strategies for coping with high uncertainty
    1. adapt the organization to the changes in the environment

    2. Influence the environment to make it more compatible with organizational needs

    3. moving from one environment to another
  22. Corporate culture
    Key values, beliefs, understandings and norms shared by members of an organization
  23. 2 Elements of Corporate Culture
    • artifacts - physical structures, rituals, ceremonies, stories, language, symbols
    • all the artifacts represent the culture underneath(beliefs, values, assumptions)
  24. Adaptive Culture
    • Managets care about customers, stockholders and employees
    • they value people and processes that can bring about useful change
  25. Unadaptive Culture
    • Managers care mainly about themselves, their immediate work group or some product or technology
    • they value stability and risk reduction
  26. Cultural Leadership
    general techniques include communicate, reward, set examples
  27. Domestic Stage
    All production and marketing facilities at home
  28. International Stage
    International division is typically part of the the struture, but it is not dominant
  29. Multinational Stage
    marketing and production in many countries and 1/4 of sales from outside home country
  30. Global Stage
    Making sales and aquiring resources in whatever country offers the best deal

    ownership, control and top management tend to be dispersed
  31. Market Entry Strategies
    To develop foreign markets

    • global outsourcing
    • exporting
    • licensing
    • franchising
    • direct investing
  32. High power distance
    means people accept inequality in power among institutions organizations and people

    US has low power distance
  33. High uncertianty avoidance
    Members of a society feel uncomfortable with uncertainty and ambiguity

    Low for US
  34. Individualism
    Reflects a value for a loosely knit social framework in which individuals are expected to take care of themselves

    high for the US
  35. Collectivism
    a preference for a tightly knit social framework in which individuals look after one another

    low for US
  36. Masculine/Acheivement
    stress the importance of acheivement, heroism, assertiveness and material success

    High for US
  37. Feminie/nurturing
    value relationships, modesty, caring for the weak and quality of life

    Low for US
  38. Time orientation
    The degree that people value thirft, savings, and persistence versus quick profits, frequent promotions, and rapid feedback from decisions

    short term for US
  39. Managing Cross culturally
    must be culturally flexible and easily adapt to new situations and ways of doing things

    Motivating: must fit the incentives with the culture

    Controlling: often unable to fire unproductive employees and must find productive ways of dealing with them
  40. Ethnocentrism
    Belief in the inherent superiority of ones ethnic group or culture
  41. Ethics
    The code of moral principles and vlues that govern the behavoirs of a person or group with respect to what is right or wrong

    are unenforceable in a legal sense but are often powerful
  42. Free choice
    behavior about which law has no say and for which an individual or organization enjoys complete freedom
  43. codified law
    values and standards that are written into the legal system
  44. Ethical dilemma
    when all choices have been deemed undesireable because of potrntially negative etheicalconsequenses, making it difficult to distinguish right from wrong
  45. the choices also have attractive attributes
  46. Utilitarian approach
    moral behaviors produce the most good for the greatest number of people
  47. Individualism appraoch
    Acts are moral when the promote the individuals best long term interests

    the golden rule
  48. moral rights approach
    human beings have fundemental rights
  49. justice approach
    standards of equity fairness and impartiality
  50. Levels of moral development
    • Preconventional level: concernes with external rewards and punishments
    • Conventional level: conform to the expectations of peers and society
    • Postconventional level: (principled level) individuals develop a personal internal set of standards and values - about 20% of adults
  51. Social Responsibility
    An organization taking actions that contribute to a society, being a good coporate citizen
  52. Stakehaolder
    the belief that a business should be operated for the benefit of all who are concerned with it
  53. Organizational stakeholders
    oweners, investors, employees, suppliers, customers, government and society
  54. 4 views of responsibilities of business
    economic responsibilities: the social responsibility = profit maximizing - anything for profit beavior

    legal responsibility: social responsibility = obeying the law (as well as making profit) - defensive behavior

    Ethical responsibility: the be ethical an organizarion should seek a higher standard than merely obeying the law - accommodation behavior

    discretionary responsibilities: purely voluntary, not mandated by economics, law, or ethics. Goes beyond what society expects - this is true social responsibility - proaction behavior
  55. why Social responsibility?
    • Self defense: if business is not proactive, the public or government will press for more regulation
    • obligation: business exists due to being sanctioned by society - owes debt to society
    • self interest - social responsibility is ood for business in long run
  56. Arguments against Social responsibility
    • Social expenditures amount to theft of business owners'd equity
    • business lacks the ability to pursue social goals
    • business would gain too much power id incolved in the social domain
  57. Code of ethics
    a formal statement of the company's values concerning etics and social issues

    Principle-based: designed to: enable the employee to make ethical decisions based on appropiate values

    • Policy-based: outline how to act in specific ethical situations - reducing the need for thinking or shared values
    • conflicts of interest
    • Proprietary of information
    • political gifts
    • equal opportunities
  58. Organizational strutures to promote ethics
    • Ethics committee: groupappointed to monitor company ethics
    • hotlines: employees can report questionable behavior, possible fraud, waste, or abuse
    • ethics training programs
  59. Whistle-blowing
    • definition: the disclosure by and employee of illegal immoral or illigitimate practices by the organization
    • guidelines: be sure you are right, try to resolve the situation in-house first, consult an attorney before contacting the media, relize you could be fired, don't expect to profit financially
  60. New workplace characteristics
    • digitization of business
    • work is free flowing and flexible
    • empowered employees are expected to seize opportunities and solve poblems as the emerge
  61. Human-relations movement
    based on the idea that truely effective control comes from within the individual worker rather than from strict authoritarian control
  62. Human-resources perspective
    maintaned an interest in worker participation and considerate leadership but shifted the emphasis to consider the daily tasks that people perform
  63. General environment
    is the outer layer that is widely dispersed and affects organizations indirectly

    includes social, economic, legal-political, international, natural and technological factors that influence all oganizations about equally
  64. task environment
    is closer to the organization and includes the sectors that conduct day to day transactions with the organization and directly influence its basic operations and performance

    generally includes competitors, suppliers, customers, and the labor market
  65. internal environment
    includes the elements within the organizations bounadries

    includes current employees, management, and especially corporate culture
  66. high context culture
    people are sensitive to circumstances surrounding social exchanges

    people use communication primarily to build personal social relationships

    meaning is derived frrom context(setting, status, and nonverbal behavoir)
  67. Low context culture
    people use communication primarily to exhange facts and information, maeaning is primarily derived primarily from words, business transactions are more important than bilding relationships and trust
  68. World Trade Organization
    permanent global institution that can monitor international trade and has legal authority arbitrate dispoutes on some 400 trade issues

    151 countries
  69. Sustainability
    refers to economic development that generates wealth and meets the needs of the current generation while saving the environment to future generations can mee their needs as well

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